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From helping clients to buy a new house or prepay their housing loan to funding retirement or daughter’s wedding, these 5 MFDs are the true Financial Freedom Providers of India.
Groww Mutual Fund and Cafemutual have launched Financial Freedom Provider, a joint initiative which aims to recognize MFDs who have made a big difference in the lives of their clients and helped them attain financial freedom.
This is the second article in the series, which features 5 MFDs. Let us look at these stories.
Falguni Shah, FuSec Investments, Mumbai
Sleepless nights to peaceful life
Prepaying home loan is necessary to lead a peaceful life. A client approached Falguni to seek her support in closing his home loan and creating higher education corpus for his son.
After evaluating his financial situation and risk appetite, Falguni advised him to set aside at least Rs.3000 every month for SIPs for both the goals. Eventually, the client increased his monthly SIP to Rs.38,000. After 15 years, the client built a corpus of Rs.50 lakh. Today, he is leading a debt free life with adequate corpus for his son’s education.
Jayanti Dedhia, Om Investment, Mumbai
At 35, a client bought a house without EMI
Buying a house is a dream for many. Even if you buy a house, there is a big fat EMI. However, Jayanti helped a young client complete his dream at the age of 35 that too without any EMI.
This has happened when a 25-year-old client approached Jayanti with his goal to buy a flat in Mumbai. Jayanti suggested him to do SIP of Rs. 15,000 and increase the SIP amount by 10-15% every year. Over the years, his investment corpus grew to Rs.2 crore. Recently, the client has purchased a new flat in Mumbai. He has also started SIPs to fund his other goals like retirement.
K Punshi B Singha, Guwahati
Ghar Ek Sapna
A client came to Punshi to seek his opinion on buying a new house on loan. Punshi persuaded this client not to buy a house on loan and instead, start a SIP to create a lumpsum corpus for it. He recommended him to start with monthly SIP of Rs.2000. As the time passed, the client increased his monthly contribution to Rs.40,000. After 15 years, the client accumulated Rs.75 lakh from mutual funds. He not only bought his dream house, he has adequate money left to fund other financial goals.
Saurabh Mishra, Investment Landscape, Lucknow
Happy retirement
When a client approached MFD Saurabh Mishra to accumulate Rs.1 crore for his retirement, he recommended him to start a SIP of Rs.15,000 per month. Overtime, the client increased his monthly contribution.
After 10 years, the client was surprised to see that his retirement corpus grow to Rs.1.04 crore. Since retirement is still 10 year away, Saurabh advised him to stay put and keep his SIPs active. Saurabh is confident that his client will withdraw at least Rs.5 crore from mutual funds after 10 years.
Subhash Chandra Gupta, Bhopal
Beti ki Shaadi
For every parent, one of the biggest responsibilities is a daughter’s wedding. With this goal in mind, a client approached Subhash to understand how he should go about investment to save adequate money for his daughter’s wedding.
Subhash suggested him to start investing with SIP of Rs.2000 in an equity fund, which should be increased with growth in income. Thanks to disciplined investing and constant nudging from Subhash to stay invested despite volatility, the client created a healthy corpus of Rs.50 lakh for his daughter’s wedding.
