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Investors seek financial security but at times lack the confidence to make the right decisions. While disciplined investing and patience are the key to wealth generation, expert guidance and handholding are of paramount importance.
This takes us to the story of Gurugram’s MFD couple Ashok and Rashmi Thukral who helped a family to accumulate not only Rs. 4 crore to fund foreign education of two daughter but also accumulate over Rs.10 crore for retirement.
Recognising an MFD’s efforts in making a big difference in clients’ life, Axis MF and Cafemutual came together to celebrate the extraordinary work and accomplishments of MFDs through Sanjeevani MFD Awards 2023 at Cafemutual Ideas Fest. The awards felicitated eight inspiring MFDs who are ‘Sanjeevani’ for their clients and have become an indispensable part of their lives. Ashok and Rashmi made it to this esteemed list of winners.
Talking about this, Ashok said, “I first met the investor in 2005 when he shared the desire of sending both his daughters overseas for higher education. However, the expenses involved worried him. Additionally, he was worried about creating a sizeable retirement corpus”, said Ashok.
The client had only Rs. 18 lakh then and the expected expenses ran into crores. The couple addressed his worries by speaking about long term investing in SIPs across fund categories to create a healthy portfolio. And, to secure his long term commitment, they kept his family involved.
Ashok explained, “Having discussions along with the family regularly reminds an investor of his responsibilities and keeps him away from making untimely redemptions.”
He further added, “Such discussions also make the family members financially aware and encourage them to collectively work towards the set goals. To elaborate, my client’s daughters often consulted me to identify the most economical yet efficient way to plan their studies.”
Over the next five years, the journey that started with Rs. 18 lakh gradually shaped into monthly SIPs of Rs. 1 lakh. With patience, discipline and top-ups, this corpus further grew to over Rs.15 crore in December 2021.
Ashok believes that reiterating the importance of staying long term, encouraging active family involvement and creating a well-diversified mutual fund portfolio have been instrumental here.
Today, while the investor’s elder daughter is studying in London, his younger daughter has enrolled at a university in the US. “Not a single penny is borrowed and the corpus is sufficient enough to meet annual expenses of Rs. 1 crore each. And, this is over and above the retirement corpus”, shared Ashok.
