While I have worked for most of my adult life and so has my husband, we did not put a lot of priority on financial planning. We were content to let our savings accounts grow, put excess amounts in fixed deposits and generally invest in jewelry or a bit of real estate and a comfortable car, taking advantage of what we thought were good deals on loans. The discussion we had with Nishith was a big eye-opener.
We understood how we would always be in debt, not provide adequately for emergencies and retirement. We had assumed that since we had enough surplus every month to pay our EMIs, we were comfortable. Only after the detailed financial planning conducted by Nishith, did we understand that we were losing a lot of money with long-term high-interest loans, and were parking surplus funds in areas where the funds were not really working for us. Thanks to the action plan thoughtfully created by Nishith, we are now on our way to closing all our loans, investing money where it makes optimal sense and leads us to financial security. I would encourage my children to follow the advice of a financial planner like Nishith right from a very young age, and as soon as they start earning.