As there are no ‘welfare’ or ‘good for the patient’ doctors, I guess their life is easier. People eat what they want, when they want, in whatever quantity, quality…..and come to the doctor.
The doctor should say : “Hello joker if you abuse your body, eat shit, eat packaged junk, drink a 1000 calories a day, consume about 100kg of sugar in a year in solid form and about 1000 kg in liquid form, do not do any exercise…at 43 you are likely to have a fatal heart attack’ .
However no doctor wants to say this.
Now come to a situation in investing. A potential client – let us say he is an IIT and an IIM alumni. He is 29 years of age comes with his father who is an ex banker. And they proudly tell you that they have booked a flat in Xyz area (and that has not really appreciated) and they have a ULIP into which they are paying Rs. 50,000 a month for just 25 years….what do I feel like telling him?
Hello, you jerk, you were in a bank, but you do not understand investing. You have the full right to rip your own portfolio but why did you @#$%^ your son’s portfolio also?
However since we do not know the power equation between them….we choose the following 2 options:
teacher option: the mutual fund schemes that you have selected could be changed a little…BUT what you have bought as ulip is certainly lousy. How could you even say only Rs. 50k a month – comes to about Rs. 13 crores….etc.
salesman option: Sir this is very good, you have bought a ULIP for endowment, now let me show you a ULIP for pension…
So one has to decide between…options….
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