This is likely to be the gist of my talk to Doctors on 19th July, at Hilton Hotel, Andheri, Mumbai

Good morning doctors, it is a pleasure to be addressing such a large gathering of doctors. This is the biggest group of doctors that I am addressing. Thanks for taking time to listen to me.

There is a small note that you will find in the handout given to you. That is for you to read at home. What I am talking here has NOTHING to do with that note. I am here just to give you a prescription (!!) for Wealth.

Talking about finance to doctors is an emotional topic! And I hope that I do not bore you too much. Many doctors have told me that they do not like numbers and maths and that is why they are in this profession.

Let me start by telling you a few simple things…

Like everything in life Finance is also very simple. In fact it is so simple that you will wonder why we need to train for 5 years to call ourselves accountants. Maybe we do not, but that is a different topic.

So how simple is it?

Well once you have a basic financial plan (which you can make yourself), you know where you are (what are your assets and what are your liabilities), and you know where you want to go (budget), you have to go to the sleep mode.

Ok, before you go to the sleep mode, understand the following terms

– Once you start earning you need to SAVE. Saving is a word we use for keeping money in the bank.

Once you have money in the bank you need to start investing the same. Investments happen in assets which have a wide variation in the returns )standard deviation is high) and that looks scary.

– you come from a hospital background where the investigating doctor has no reason to tell you a lie.

-in the BFSI space you can get various shades of grey. Truth is many a times partial, and in some cases it is the truth as understood by the guy who is taking to you

– knowing how the adviser is compensated is EXTREMELY Important

– there are some products which look so innocent that you will find it difficult to say no. However saying No will make you rich

– Goal clarity is an awesome thing to have, and hopefully by the time you are 40 you will be clearer in your goals

– life does not always go as per a plan. that is fine, learn that most of us are here by luck, but since we were born earlier, we can claim whatever we want

– go out there and enjoy yourself, nobody is going to ask you to go and have fun

– learn, learn, learn…………………………..and then keep learning.

– paying Income tax is voluntary only till a small level of income..beyond that it is compulsory Not paying is very painful. People whom you do not want to meet even on the road will sit inside your house making an inventory of your assets. It is too damn painful.

– at my age I have realized that honesty is a good policy. Go through your learning yourself. Believe me, it is a nice policy.

the products that will be thrown at you are ULIP, mutual funds, endowment, and housing loan.

What you need is a simple term insurance, one bank account, one credit card, and a good insurance consultant

– do not try to handle own investments unless you have family help.

-learning from the media CANNOT happen, however you may start doing something if the media eggs you on

not much more I guess…..

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  1. dr m surendra nehru

    i am a regular follower of your blog



    dr m surendra nehru hyd
    my only feeling is:FINANCE FIELD(advisors,bankers,c.a.,advisors,index brokers) all have virtually killed the retail customer!

  2. “simple term insurance, one bank account, one credit card, and a good insurance consultant”

    Why is a good “insurance” consultant needed? Is that a typo for a proper investment consultant?

  3. Subra sir..thanx for enlightening us by this blog. At least some body is giving Frank and honest advise to will be great if u have video of the talk..plzz upload it..every word u speak is wisdom..

  4. Dear Subra sir,
    been following your articles for quite some time,
    very useful
    Baby steps on, … miles to go

    keep up the good work

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