Many of us have very strong beliefs in certain things and concepts, and any advice contradictory to the belief seems not worth paying attention to. When it comes to investments, the bias towards real estate is a reality for Indians. Navi Mumbai-based Paresh W. Sutar, a chemical engineer, too has had this bias cloud his judgement about his investments.
1st wake-up call
When Paresh, 47, moved to Navi Mumbai in 2009 after working for close to 15 years in the chemicals and pharma industry in Ratnagiri, he was not aware about goal-based investing. While casually reading a newspaper article on financial planning in 2011, he realised his finances were not exactly in order. It is then that he got in touch with Prakash Praharaj, founder of MaxSecure Financial Planners.