Bengaluru-based Sarath felt that if so much time at work is spent on making plans and setting targets—monthly and annual—why couldn’t he follow a similar structure for his personal finances. He and his wife, Harika, knew they needed to set things in order but couldn’t find the time. “Most of our investments turned towards debt as the family grew. We knew this wasn’t right,” said Sarath. The couple have a 3-year-old daughter. Harika felt they needed the help of a professional, and she started doing research on financial planners.
As part of the initial steps of building a financial plan, the couple had to put together complete information of their assets and liabilities. “That struck me hard. There were too many insurance policies, and things were not organised. It took us 2-3 months just to get this information together,” said Sarath.
