*Patience Pays* 👇👇
He Was a retired Defence Employee. Post retirement he worked in Air India..He was an ordinary investor to start with ..He started ,by his own Admission, the journey into *Market* related instruments *very late*. He was about *54 years old* when he had issued a *Cheque* for the *first time* to an *MF Scheme*..
It was the *year 1998* and the Scheme in which my Client's father who was well *into his 50s* invested a Sum of *Rs.40 k* in The erstwhile *Templeton India Growth Fund*( *now* known as *Templeton India Value Fund*) with the help of A Financial Distributor in Chennai (Madras in good old days)..
The investment made in the Scheme with a Dividend Payout Option was *held* for *two decades and one year* ..During the course of his investing journey,he had *earned handsome dividends* Which grew from very Small amounts in the early stages to a reasonably good amount over the years..
The *dividends* alone Accounted for *Rs.3,45,000 in the 20 +year period* for a *one time* investment of *Rs.40k* and the *Value* of his investment (on Redemption)stood at *Rs.3.04 L*,while I was writing this piece. The *annualized returns (XIRR)* Stood close to *25%*
For the past 1-1.5 years the Gentleman Faced lot of health issues and The investments he had made in Mutual Fund Schemes( There were investments in Some more MF Schemes *Valued* at approx *Rs.25 L* )came to the fore to manage the *expenses* beyond the *Hospitalization* related ones..
Though he had the support of three children ,he never approached them to seek any sort of Financial help and Stood on a *Sound Financial Assets base* ..With his Prudent and Disciplined Approach to Personal Finance related issues,he had set an example to his three children on Financial Planning as well in addition to being a Wonderful Father ..
After A long Fought Duel with ill health ,he had finally breathed his last recently leaving a legacy of Financial Savings to his next Gen ..
The Oft repeated Cliché *NAV is Growing But not reflecting in the Account Statement* was proved wrong for a change ..
The well disciplined investor like *Shree D H Jagtap* would always set an Example to the next Generation of investors with their focused approach..
A *buy and hold* approach which yielded a great result and a *true retail story* of A retired person saving his Hard earned money in an *instrument seldom found favour in those days* ,excited me to write this piece ...
As always I am not the first person to have reported a similar kind of Experience, but definitely not the last one to write a story like the above .
Thanks for the read ..
By my dear friend I.S.PHANI KUMAR
Post a Comment