The Raos understood the importance of saving quite early on in life, but their investments were not linked to any goals before they met their planner
Abhijit Rao, 36, started investing in mutual funds in 2016 but soon realized that his investments were not in line with his goals. This was also the time when his son Advait, now four, was born and he didn’t want to invest haphazardly or take unwanted risks. So in 2017, Rao approached a “financial planner" who was not a Sebi-registered investment adviser. The “planner" constantly pushed Rao to invest in mutual funds through his own website, which he wasn’t quite comfortable with. He stopped working with the planner in 2018. “For the longest time, I was invested in debt instruments such as Public Provident Fund (PPF). But I was also a regular reader of personal finance articles, which helped me understand why financial planning is important," said Rao, a Bengaluru-based software engineer.
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