SBI Fund Guru | Ashish Goel | How to Create Wealth through SIP?
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In this episode, Radio Dwarka invited Ashish Goel, founder and Chief Success Officer of Vista Wealth Consultation Private Limited to simplify the concept of wealth creation for an investor.
Goel has been around in this business since 1993 when he was still in his teens; he was drawn to it because of his interest in investment and wealth creation.
"We always have focussed on small investments, and that has helped our investors reap rich rewards," he said.
"There are 40 crore households in the country and each family should have one SIP each. It is not age-bound and offers a lot of flexibility."
He elucidated his point with an interesting example. He said that there are four types of people. The first types are those who dream but realise that most of these are impossible to fulfill so stop dreaming altogether. The second types are those who dream but don't labour enough to fulfill them. The third kind of people dream, set a goal, but do unwanted labour, and the fourth kind of people dream, set a goal, and also do systematic planning and labour accordingly to realise their dreams. Once you have sorted your financial goal, backed it with proper planning, you will surely create wealth as well.
There are two types of incomes, he said. "One's passive income is the money that is earned from past investments, while the active income is one that is earned from the work that one does. If one's passive income is more than active income or in simple terms, if the yield on passive income is more than the current rate of inflation, an investor has won the battle.
He also narrated an interesting anecdote when an investor, who had put in Rs 1 lakh SIP with his firm decades ago, came to distribute sweets in his office. That man had stopped investing in SIP that day on and had withdrawn 70 lakh to buy a house. "It was quite a satisfying feeling to see an investor's financial goal being met," he said.
Goel is an avid golfer, and when he is not busy advising and planning investment for his clients, he prefers to spend time teeing off.
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Vishal Gupta,
Radio Dwarka,
India’s First Online Community Radio,
Friday, December 9, 2016