Financial Freedom – One step at a time.
It was in the year 2015 when after few years of contemplation, I finally could muster the courage to start investing in Mutual funds using regular SIPs.
I had started working in IT industry in Bangalore in 2008 just before recession hit and after initial few months of settling in the new career I realized it wasn’t something long term for me. Though above average money and a predictable routine it wasn’t the kind of brain stimulation which leaves your soul fulfilled at the end of the day.
So, by the end of the year I started looking for material online and ways to gain financial independence so that I could start a business of my own in few years or even if in a job, it would be something which won’t involve staring at a computer in half vegetative state whole day.
My first step towards the present today was opening a PPF account. As I started saving I realized how interested I was in the subject of personal finance and how it motivated me to increase the savings amount per month. I started finding ways to save or earn more to reach the maximum deposit amount allowed in the PPF account as quickly as possible.
Overtime, extra hours, promotions required all kept falling in place when mind became persistent towards the goal. By year three I could achieve the yearly maximum limit allowed in 3 to 4 months.
All during this time at the back of mind it was imminent that debt investments cannot take me far and long as far as nest egg or future is concerned. Any article I read online pointed towards equity for wealth building.
Yet when I used to see the fine print it held me back from it. Couldn’t risk my hard-earned money in equity market when recession period meant I could lose my job any moment and there was no guarantee what percentage return I would be getting.
Years went by, life started happening as it always does and I got caught in the flow. Got married, had a kid, bought my first home jointly with partner all the while thinking that it’s high time I should start investing in mutual funds or stocks. PPF, FDs moved with me without requiring much attention along the years.
Finally, in 2015 I decided to join the bandwagon even though there was a little resistance at home and even my own head wasn’t at all ready for the risk. Checked Online and the name JagoInvestor kept popping again and again and amazing reviews made it easy to reach them.
I started with SIPs in Mutual funds as it would mitigate some of the risk had I otherwise chosen lumpsome or stocks directly.
Chose a small percentage of monthly disposable income and some recommended Mutual funds by Jagoinvestor team and started my journey. It was an eye opener. Confidence started building after every call and review with Jago investor team and I kept increasing the amount.
In between once or twice I had to withdraw some amount as well whenever some big decision came like down payment for second house or for Permanent Residency fee when after visiting my sister’s family in Sydney Australia I felt my kid would have better opportunities here and my partner and I could also have a better work life balance if we decide to move.
Had I not started SIPs few years ago it wouldn't have been possible to take major decisions in life as easily as I took them when I knew my savings are invested and growing, yet are available to me in a matter of days if needed urgently.
The investments provided such peace of mind that I felt calmer and in control whenever things went south in life and as the money grew so did the clarity and confidence to choose options in life which will provide a better future for me and my family.
After gaining the PR for family in 2017, we moved to Sydney in 2018 after my spouse took an internal transfer given we already had the residency status. Although I could not continue to invest in Mutual funds after I moved out of India I decided to leave my existing investments with Jago investor as I could not think of anyone else who would take better care of my hard-earned money.
With regular updates and yearly reviews the team’s expertise has my full confidence and my personal worries at bay.
As I grow as an individual and settle in a new country and a new career as a Chef(lifelong dream), I plan to start my equity investments again soon even though I have not decided and researched yet which options would be best for me as an NRI.
Thank you Jago investor team for always being on customers side and suggesting and proposing the best options as per risk appetite.
Will be in touch again soon to carve a path for early retirement and financial freedom. All the best to your team.