What i learnt from my father about savings and investments?

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What i learnt from my father about savings and investments?


On the occasion of the father’s day,I thought to give a tribute to my father by writing this article to show that how his investment and saving philosophy have helped me to grow in my life.
The one memory which I always cherish the most is my father’s attitude towards life. He always be a happy and casual about the things. He usually says do not be so serious in thinking, that your life become serious.

The experience of our generation was quite different from the current generation. So I did not get any monthly/weekly pocket money from my father. But I used to ask him for money whenever I needed to buy something. Since it was not possible for him to fulfil all my wants, I used to save money by cutting down on expenses to buy things as per my liking.

As far as savings and investments concern, he always believe to live the life in own means. He never fascinated by the fancy world and not behaved like a herd in a crowed chasing for the material possessions in life. Therefore he has limited his expenses and cultivated a habit of savings.
Although he did not have a particular financial planning as per the goals but somehow his saving nature has automatically done that. I will tell you how ….
He used to invest in a LIC plans, Recurring deposits, post office kisan vikas patra, and bank Fds. Well most of our fathers done that only because of the less awareness and qualification to handle other things.
As mentioned above LIC is a long term plans , so in that way his long term goals like child marriage and retirement fund have been covered up to some extent.
In the same way post office kisan vikas patra and Rds have medium term maturity time, which has taken care about some other medium term requirements like child education

FD has taken care for short term requirements like family outing or purchase of electronic goods.

Therefore from the inherent habits I have also cultivated a savings habit and do not spend much on unnecessary things and never be a part of crowd in term of possessing material things.

Education and interest in personal finance has made me capable to draw an effective financial plan for my future and for my clients and made me aware about different financial avenues where we can invest our money and get good tax efficient returns w.r.t. to traditional ways like LIC, FD etc.

Thank you papa for all the guidance and experience you have provided me. Happy father’s day to you and to all the fathers in the world.

I hope some of you can relate to the same story because our father’s generation have been known for savings and investing in traditional products only . I encourage to follow that generation up to some extent and see the difference in your life for the future.

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