I am not sure whether this is a compliment or an insult, but a CFP told me ‘what i like about your blog is you tell people what I love to tell, but cannot’.
Ok let me summarize some of the shocking things that a financial planner would like to tell his/ her client, but will not.
1. You ask for so much details about this investment that I am suggesting, tell me you….. do you have any clue what returns are you getting on your existing portfolio? I mean do you have any clue?
2. You like subramoney.com so much for being ‘on your face’ but why the ……. do you have 4 ulips?
3. When in hell did you ask me before you committed to buying that second house? For me it is a fait accompli is it not?
4. With such a small pension SIP that you are doing you Should be lucky if your son, daughter or somebody else will look after you.
5. You claim to be a genius in marketing – hey that does not mean you understand an iota of finance. In fact you do not.
6. Stop calling it your Rs. 2.5 crore house. Your dad paid Rs. 18000 for it. You inherited it. It is very different from earning Rs. 9 crores paying tax, supporting a lifestyle and paying EMI to buy a house costing Rs. 2.5 crores.
7. Of course you can retire tomorrow if you can sell your house in Santacruz, invest the money in a smaller house in Baroda, and eat daal and rice for the rest of your life. And ha! forget about falling ill. If you want to live in Mumbai – in the same house, your pension fund has to have one extra zero. Period. Do not argue.
8. Sure you can go to a Municipal hospital and get admitted – the support system you need to go there, stand in a queue, deal with them etc. is so tough to obtain that you may find it cheaper to go to a private hospital.
9. Old age care? What if it is available? you cannot afford it.
10. Insurance? of course you will not need it. You will not fall ill or die early – why waste premium? I agree with you. Please do not quote me outside that is all.
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