Most fathers or should I say parents live a fairy tale life. It makes it impossible for them to scale down their ‘i deserve this’ life style. So if a parent is earning well and spending well there is a need to ask him the following. Well some of the things that I have asked, and pretty bluntly…are here…just in case your IFA cannot ask you, ask them yourself:

  • Have you provided for your OWN retirement before you pay for your children’s indulgences?
  • How are you going to tell your daughter that you cannot afford to pay US $ 200,000 for that education abroad?
  • With what face did you tell your family that we could afford that trip to Disneyland?
  • You have exactly Rs. 1 crore net worth at age 51 with what face will you face your retirement?
  • You are 47, unemployed, and perhaps unemployable how will you pay for your daughter’s foreign education?
  • Some of the educational degrees have no ROI, chief, you cannot afford them, go take a walk
  • Your kids cannot, cannot, cannot afford to do those expensive courses unless you show me 1 Million US $ ..
  • How prepared are you to lose your job tomorrow?
  • Remember the great net worth that you are talking about has been contributed by your dad in the form of a house
  • If your father’s portfolio was given away to charity, YOUR old age would have been in misery.
  • You want to help somebody? You got to be joking, You need help yourself !!
  • Is it your ego which prevents you from telling your family you really cannot afford that Rs. 69L Jaguar?
  • No. You cannot afford your annual vacation in India if you insist on air travel and 5* deluxe stay

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  1. I think only egomaniacs would be ”ashamed” to tell their kids that they cannot afford to pay for a very expensive foreign education when earning in rupees or for that unreliable, overpriced, Jaguar car for 69 Lacs which in the UK would be worth 10 lacs after 4 to 5 years.

    When my daughter is old enough I will happily tell her that I can fund only part of her education and that her wedding will be a simple affair because her father made the conscious choice to spend more time with her as she was growing up instead of working 80 hour weeks and missing her childhood so we could spend crores on a 3 day wedding in a 5 star hotel and other superficial BS.

    Idiots that call in to financial planning shows and who want to save 50 lakhs for their daughters wedding when their earning capacity is 12 lakhs per annum must be told to scale down their stupid budget instead of being given advice on mutual fund selection.

    India please grow up. Lavish weddings, jewellery, big cars and a mansion are some of the least important things in life.

  2. Hello Thomas,

    I loved that part – “When my daughter….superficial BS”

    I really dont understand, how the normal middle class people spend huge sums on wedding expenses, dress, the oh so costly food, etc etc. This is only for ego satisfaction.
    Also people tell that we have only 1 daughter / son etc..on whom are we going to spend?

  3. Super article Subra ji.

    Thomas: Very well said…
    I believe most of the folks live a life in bubble without seeing the reality. we will get old and die, everything we acquired will go away from us. Its also important to live some real life rather than a bubble.

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