Power of 10000
POWER OF RS. 10,000
Naren & his wife Nidhi recently visited our office…They were professionally qualified and both working with BIG 4 CA firms….they had an issue…the only saving they had was their PPF and LIC policies and they were always living on Credit cards…kind of…inspite of having handsome salaries…
We asked them can they save 10,000 p.m.? Naren laughed what can a mere 10,000 p.m., what difference will it make? We decided that if I can convince them the value, will they promise to start saving 10,000 pm…
So, I had to explain him the power of investing Rs. 10000 pm…
In the first year, they could buy the next Iphone, without any EMIs…a smile erupted on Naren’s face…or
In 5 years, they could buy their desired VW Vento or plan a family trip to Australia…amounting to approx. 9 lacs..now Nidhi was smiling…
In 10 year later…they will have 27 lacs for their daughter Shreya’s education or
In 25 years, they will have a corpus of approx. 3-4 crores, with which they can buy a second home or use it a part of retirement corpus…
Naren was literally zapped…He said their hotel food expenses are more then 40,000 a month and even if they can save a part of this splurge, they should be leading a carefree Life…As promised Naren started an SIP of 20,000 to secure his future…
This Week’s Fisdom:
Friends, We all earn, Spend and then Save…if we can just switch the ‘S’es and plan to save before Spending , Life can be very much enjoyable journey…
We are coming to end of 2017 and one of the new year resolution could be, adding more to savings to plan for your happy future…
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