This is about another couple aged about 50.
Far more tragic than the 32 year old couple about whom I had shared earlier.
This couple has 3 children. One has trained to be a pilot (and wondering where to find a job), one kid doing MBA (from the chotiwala institute spending Rs. 15 lakhs, funded by a loan guaranteed by the father) and the third daughter is planning to do an MBA after her graduation.
Not bad. Except that after all the EMI of his house, car, etc. he has a poor take home pay – has a nice big house, some fixed deposits, a nice big loan of course, a car loan, and of course the kid’s educational loan.
Other than all this he has a Net worth of Rs. 1.3 crores – in bank fixed deposits against which the loan has been taken. Brilliant.
Sorry when I said net worth I meant liquid assets. He has loans more than that – but of course the house is worth more than all the loans put together. He has about Rs. 48L in Provident fund over and above this.
His potential big expenses – his own parent’s health (he is a single son and sister is unlikely to pool in), marriage expenses of 3 daughters (he says it is not much, but knowing him let me assume 2000 meals @ Rs. 1200 a meal is Rs. 24L!!), his own retirement.
Want solutions please…
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