A couple of days ago the Economic Times published an article by Shiv, and it is a different kind of article in the sense that it was really a financial plan that Shiv made for Mr. Gopalan who is 47 years old, married with a child, and has assets of about Rs. 1 crore.
I thought this was a very good article go gain ideas about how to go about your own financial plan and the type of things to consider.
The thing that struck me most about this was how Mr. Gopalan or anyone reacts when they say they have assets of Rs. 1 crore which is not a trivial amount, and then hear from the planner that well, you need to do a lot better.
If you see the article, then the recommendation to diversify is really obvious, but I was a bit surprised to see that even with these assets, and what looked like a modest level of expenses, they weren’t on track to meet their goals, and will have to make a few changes to achieve what look like fairly simple goals that perhaps every family has.
You can read the whole article here:Â Family finances: Gopalans need to diversify to get financial plan back on track