Learning from life's unpleasant surprise : Story of professional with US-MBA, MNC job, last CTC was Rs.12 lac. Life never goes only in one direction !

IMP-OST : 20120827 ( Post 2 of 7 )     

Source : Story shared by fellow member from my professional network.

Total Failure of planning of Financial Planning 

Let me share true story...Last week, I meet one of my ex-colleague & friend.

Name has been changed to protect identity.

Image for illustration purpose only

Raj aged 37 married having two kids (10 year & 5 year) & spouse is homemaker.

He has completed his MBA from USA from well known college. 

He has worked with a leading MNCs in financial service sector for more than 10yrs and his last CTC was 12 Lac.

He gave best of best life styles to his family and currently staying in mumbai 2bhk flat in rent Rs.30k and kids studying in international school.

He is used to go with family regularly on mini vacations, dining good restaurants and shopping malls and fulfilled most wishes of his and his family.

One thing, he forgot that LIFE is never goes only one direction (upside) and many time one also gets unwanted downside.

Three month before, He lost his job and he realized that he did not have even "Emergency" fund to take care of monthly household expenses. 

His parents financially supported. 

Today, His family monthly household expenses Rs.80k and now thinking to go back his hometown. 

Raj is nurvous and thinking his career and life finished.

Big unanswered question is that....

why and how totally failed in planning of financial planning?

You can also go through our following relevant posts :

1. Letter of Widow who is a Chartered Accountant  "  .....    .....   ...But at home front there is always a tomorrow" - Don't miss to read eye-opener story
2. Useful lessons for Financial Planning from movie... 'Zindagi Na Milegi Dobara' (1st character - giving up today for retiring at 40, 2nd - Not overcoming fear, 3rd - Not prepared for surprises )
3. Financial planning service is highly personalized, and is not meant only for wealthy ones. Unfortunately, the term "financial planning" has been very loosely used in the wealth management industry!

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