Going for broke

My friend referred me to her cousin, Anjali (name changed), who needed some help with her investments. Anjali had faced many hardships in her life. She was divorced, had one-year-old twins to raise and lived in a rented apartment. At the time, she had a job at a creative agency, which, although stable, was not secure. Anjali leaned on her elderly mother for help with the household chores. However, since Anjali's mother was too old to care for the toddlers, she had no option but to depend on domestic workers. As a result, most of Anjali's salary went into keeping the maids happy so that she could keep her job. In our business, we mostly come across clients who are keen on timing the market, eager to know the next big idea, exploring complex structured products and so on. Anjali, on the other hand, was different. She was a single parent trying to secure her and her kids' future. What we did To help her, we started off by asking Anjali for a list of her existing investments. She shared the details of her existing SIPs . They were well thought through, considering her circumstances. Her health insurance coverage was comprehensive; the shocker came when we enquired if she had adequately

This article was originally published on February 15, 2024.