Wise Wealth Advisors

D.Muthukrishnan (Muthu), Certified Financial Planner- Personal Financial Advisor

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Weekend Jottings

Posted by Muthu on November 13, 2010

We’ve written in the past that you cannot make a poor man rich by offering him money. Money management is a skill and if one does not possess the skill, he would again become poorer.

Don McNay has mentioned  in the Huffington Post that 90% of all lottery winners will run through the money in five years or less, and 60% of all players in the NBA will be broke within three years after they get out the league.

The more I interact with people, I’m convinced that earning money or even savings is barely sufficient. You need to have a financial plan, financial goals, right investment products, monitoring and review of your funds and goals, continuous value addition of knowledge etc.

Except for a very few investors, most other investors have do not possess time and bandwidth to do things on their own. Half baked knowledge is more dangerous than being ignorant.

For health, you would be having a personal or family physician who knows entire health history of you and your family. You would be comfortable in having a relationship with a Doctor for life rather than a hospital where the physicians may be constantly changing.

Likewise in the area of a personal finance, establish a long term relationship, preferably for life, if the advisor is good, rather than going to banks or national distributors. Banks and National Distributors are like Hospitals. You may have to face a new relationship manager every year and there would not be any continuity or understanding of your personal finance and moreover you would not have the major comfort factor of a long term personal relationship.

The individual advisor would be interested in giving you a good result for long term, as that is the only way he can sustain his profession and reputation. Relationship managers of banks or national distributors would be interested only in instant gratification and would sell you what gives utmost revenue for their organization. They are not worried about long term relationship as they would be hopping from one place to another and care a damn about your long term interest.

Since our blogs are read by people other than our clients also, we advise you to look for an individual advisor than an institutional one. Like health, the personal rapport is very important in personal finance too.

I wrote about my experiences with two astrologers. Some of you have been asking me why I’ve stopped writing about them. I’ve not stopped and occasionally they would appear in weekend jottings. In addition to that I would keep writing about Doctors too.

Let us look into a Doctor and an astrologer today.

Doctors- Due to my health issues, I know many of them. Like everything else in the world, they all come in different flavours.

I’ve good , bad, ugly and crazy experiences with Doctors.

One Doctor, whom I met last year, believes that the root cause of all the health problems is improper blood flow. The panacea for all the ills is improving one’s blood flow. It turns out that he is a MBBS Doctor, who dabbled in Siddha, did a Ph.D in some effect of blood flow in the human system, consider himself to be divinely inspired, has pictures of Gods in his room which can easily fill a temple, earnestly believes that all I need was to take his ‘blood flow’ treatment and I would be cured of all my illness.

He keeps hopping around South India conducting camps in hotels or lodges. Somehow I’m skeptical of camp hopping Doctors.

I was very sceptical and I confronted him with lot of questions. Eager to impress me, he showed a testimony from an actress of yesteryears (may be my father’s or grand father’s dream girl). One thumb rule is, be weary of Doctors who shows testimonies. Good Doctors do not show testimonies to impress you. Normally you come to know about them through word of mouth referral.

To escape from him, I told him that cow’s milk which is essential for his treatment, cannot be obtained by me as all the milkmen who comes to our apartments are the ‘milk packet kind’. He did not leave me there and offered to send me Cow’s milk from his residence (which is good 10+Kms away from my house) everyday. He told me that he has cows in his house specifically for this purpose. Lalu Prasad Yadav would be impressed with him. I ran away from this Doctor as fast as I can.

Now let us meet an astrologer.

From the year 2000 to 2008, I’ve met very many Astrologers. From 2008, I’ve stopped seeing astrologers.

We need lot of crutches when we want certainity. The moment we do not need any certainty, lot of things fall of automatically. After certain painful experiences, my whole perspective got changed post April’10. I’ve written about this in detail in an article ‘Transformation’.

Wisdom comes from disillusionment.

When I was living earlier in suburban Chennai, I came across this astrologer.

He was very respectful towards me because he wanted a job for his unemployed daughter in an international BPO I was working. I referred her to my HR and she landed upon a job.

After that I became his special client, he used to shower lot of attention towards me. I used to pay him a very good fee for every consultation.

He felt that all the sufferings I was under going in life then was due to planet Budha. According to him, Chokkanathar of Madurai is the deity who controls Budha and he would listen to the orders of Chokkantahar. So all I’ve to do is to visit Madurai, tell my problems to Chokkanathar and pray to him for removing Budha’s evil eye towards me.

I asked him as to what makes him to think that Budha is casting his evil eyes and how does he know Chokkanathar is the lord who is controlling Budha. He closed his eyes for few minutes in contemplation and merely said that one should not question one’s chart.

I went to Madurai for a day’s trip. My problems continued. Probably my prayers did not impress neither Chokkanathar nor his consort Meenakshi. Both husband and wife chose not to help me.

He asked me to put a yantra in front of the house as the next remedy. He would prepare a yantra and chant a mantra 1008 times on an Ammavasai day and then install it in front of my house. As I was seeing lot of astrologers those days and  each one suggesting various remedy made me disinterested in his suggestion and I did not buy the yantra which was priced at a good rate.

In the mean time, a relative of mine who always claims she is least interested in money and in my opinion cares for it most wanted to me to obtain a remedy for her husband to earn very well in business.

This astrologer saw the chart of this gentleman and said that Saturn controls his life and Saturn likes iron. So he said that he would buy an iron cash box, do the pooja on the same Amavasya day and give it to her. He sold me the cash box double its cost, 100% margin for the value addition of Mantra.

I gave it to her. It is very many years since this incident has happened and somehow Saturn refused to help my relative. He is still in the business surviving, but not flourishing as the lady dreamed.

When I saw last, this lady is still keeping the iron box with a hope that some day the astrologer’s prophecy may come true and her husband would become very rich. May be.

This astrologer was put off that I was not doing the pariharams he was suggesting.

So I asked him how his time or dasa is. He said that he is running the best period of his life for next 2 decades. He suffered a serious automobile accident subsequently and was hospitalized for many months.

Once he recovered, he tried continuing his aspiration of building his profession. He was not very successful.

Whatever little savings he had was spent on his first daughter’s marriage.

He approached me last year for getting a job for his second daughter like I got for the first one.

He was unhappy when I expressed my helplessness as I was no longer employed and being on my own.  

I heard last week from one of my friend’s that this astrologer’s health has detoriated much during the last one year and is suffering from multiple problems. His wife has become a Schizophrenic during the last few years. His younger daughter is yet to be employed and he does not have money for her marriage. Disgusted, he has sold of his house in suburban Chennai, quit practicing astrology and do not know where he is now.

A tragic turn of events for a man who predicted 7 years ago that his best time in life was the subsequent two decades. Planets let their ardent believer wither.

All I can do is wish him well, wherever he is.

One Response to “Weekend Jottings”

  1. Ram said

    Well said about a personal finanacial advisor! Like the practice in countries like USA, UK, Australia,etc., people should start consulting personal financial advisors as Financial decisions are equally important.

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