The youths are chalking their own path instead of walking down the footprints. The bar is being raised daily and a new risk is being taken to beat the standard.
“It’s the best time to be young here,” given the energy, the motivation, the environment and the government. However, we must be a little cautious that there is risk attached with every reward. And this is where financial freedom comes into the picture.
Let’s start a small story of two young and motivated persons and how they started their journey with financial freedom.
Delhi based couple Nikhil Bhatia and Surbhi Bhalla decided to pursue their own interest for a living after spending a few years working for MNC’s. Being a Delhi University student, Nikhil clearly knew the demand generated near campus for street food. So he decided to start his own ‘food truck’ business in Delhi while Surbhi, a travel enthusiast, wanted to start a ‘millennials’ destination’ travel company.
A fresh start – This is a significant move for both of them and it puts financial uncertainty into the picture.
Nikhil after graduation entered into financial consulting and also holds a CFA. Since his college days, he was into markets and investments. After his job, he regularly invested 25% of his income monthly in the market with investment discipline. His expertise helped him take a little risk with equity investments. But he had a diverse portfolio with investment in mutual funds, debt funds, government bonds and health and insurance covers.
At the age of 29, when he decided to start his own business, he has a forward saving for the next 6-8 months of personal expense and also a lump sum amount to fund his new venture.
On the other hand, Surbhi did her MBA after graduation and entered into marketing. She was a travel enthusiast since her college days. She used to save a lot to fund her traveling expense in college and she kept this habit always. Now she has sufficient amount of savings to fund her dream project.
Both have little savings in hand before taking a big step because they have already planned it since they entered the job market.
At this juncture they can confidently pursue their dreams. Our only piece of advise- there is always a risk attached to every new step you take, but you can spread the risk and minimise the impact by planning for your goals be it financially or strategically.
And we wish “do your best” to every person out there, who dreams big.
Name: Nikhil Bhatia
Name: Surbhi Bhalla
Business: Travel Destination Company