Dr Pradeep Saini

Dr Pradeep Saini

1st April 2019, april fool's day also marks the beginning of a new financial year.
Today,I want to share with our group, the tremendous impact of wealthcon in my life. It has been a life changing experience for me indeed.
Introduced to wealthcon in January of 2018, I was added to investor group by my batchmate. *The discussions will sound scary and you may feel like leaving but stay put* was the instruction I was given along with advice to read all messages
It took lot of courage not to check out from the group
But as I stayed , things started making sense.Reading messages from day one when the group's foundation was laid really helped.
Quickly I realized that I was in a big financial soup with no planning, practically no assets and lot of bad products in my kitty. I had 2 big home loan, two small cars, 1 car loan, and 7 stupid Ignorance policies all of which I thought were investments and insurance when actually they were neither
Ignorance is a bliss and I was blissful till I was onboard wealthcon
I was shaken, stirred,and awaken. I was unnerved. I became restless and had to find peace.And the only way was to understand and acknowledge my wrongdoings. Publicly.
It takes courage to wash your dirty linen in public and Dr Ram instilled that courage in me by virtue of his crystal clear messages and write-ups.
The first hurdle was over when I acknowledged my wrong-doings and promised myself to take corrective measures under the guidance of wealthcon mentors
*He who knows not and knows not that he knows not is a fool-leave him*
BUT
*He who knows not and knows that he knows not is a student-Teach him*
I was ready to unlearn and re learn, and there were so many superb learning opportunities and teachers around.
The Nagpur wealthcon was round the corner by then.The dates were clashing with the all Boys meet of my 1994 batch. The pressure was immense, given the wonderful relations I have shared with my batchmates despite being CBSE Wala.
I had to choose.
Friends already with wealthcon told me not to worry as everything will be covered at Mumbai Annual conference, but, by this time, I was already so unsettled that I decided to attend Nagpur as a primer before Mumbai.
I had made the right choice. The homework given for the basic workshop was an eye opener. I never looked at what I was earning and where I was spending. The Nagpur Basic course shook me to the core and I returned to Delhi, stronger and determined. Meeting the faculty at Nagpur especially Dr Ram further strengthened my conviction my belief that I was with the right people on the right path. The path of redemption.
I gave myself multiple targets to be accomplished by 31st March 2019 i.e. ,end of financial year
Thanks to continuous support from wealthcon I have accomplished them in time.
All my ULIPs ,Pension plan, child plan, endowment plan were gone by october
I was convinced that whatever the math, whatever the loss, the products are bad and I will.I have to, get rid of them.
*Not using much cognition* helped.
When the house is on fire and everything is burning we think of saving many things but eventually save one.OURSELVES.
So I saved myself, knowing that, rest all will fall in place, gradually.
I was right. I surrendered all policies and saved myself from a longer and lasting loss.
The monies that came from the policies was used to knock off car loan. The second car that I had and was mostly parked was next to go.The money was used to buy another car,albeit in form of stock of Maruti.
The hard decision was to stop the ULIPs that I bought in Nov 2017 ,2.5L per year, for my daughters. I knew the loss would be hundred percent.But by this time I was already prepositioned and prepared to take the loss. Redirecting the same money to MF would more than recover the loss. I was lucky I had paid only 2.5L and the loss was curtailed in time. But I know, deep in my heart, that, had I been into this for a couple of more years,I would still have exited. Why?? Because, Conviction, belief, determination, long sightedness were all on my side thanks continuous reading, feedbacks, support from wealthcon platform.
The last target was knocking off atleast 6L from my top up loan that was pinching the most. I and my spouse managed to knock off eight.
At present I have a 3.5Cr term insurance, no car loan, lesser home loan, a better health insurance with additional critical care and a super top up. My indemnity is at 1Cr, and more interestingly I have invested 10L, five each for me and spouse in stocks.I still wonder where this money has come from.
I use my credit card more judiciously, thanks to Dr Rajendra Bhatiya.
The twist in the tale came when I was twisted in the tail by Dr Ram.
The more I read about insurance, went into the details, studies the nuances,the more I realized that It was indeed a big trap , I mean the PLANS, the insurance cum investment products. They were the big bane of people in general and doctors in particular. Flush with money and scarce on time, doctors were easy fish to catch for agents, friends, relatives and sometimes very near relatives for selling insurance cum investments.
I was regularly posting what I was reading, as a part of wealthcon philosophy.
It was then, that Dr Ram called me, appreciated my posts and told me to tell the story to a larger audience. He was of the opinion, and rightly so, that such eye-opening journey of a fellow doctor *from ignorance to insurance* would have the most impact.People will connect more, and muster more courage to overcome the dual demons of GREED and FEAR.
This was the invitation to talk about insurance at MUMBAI!!
I declined outright and requested that may be next year I may do it.
*Why next year why not this year?*
"I am there, we all are there, and the audience is also us."
Yet another dose of confidence and I was convinced.
Dr Ram is a thinker, a teacher, a true mentor and always ripe with ideas. Skype sessions were conducted between teams of two speakers who will not only help each other with content and time management but also act as stand by in case of any eventuality. That's called preperation!!
I Learnt how to Skype.
Mumbai was off course my destination, as I had already decided in Nagpur that I will attend basic course again but never thought I will have the privilege of delivering to an audience, so wonderful, as was in Mumbai.
In the meanwhile one doctor from Delhi, a neurosurgeon, requested dr Ram to conduct one basic course in Delhi.Dr Ram told him probably in March we may do one. The neurosurgeon was told to contact me. When he messaged me enquiring about dates of Delhi Wealthcon ,I thought he was misinformed. There were hardly any doctors on board wealthcon from this part of the country.I was sure he was mistaken. Actually I laughed it away.
Once Mumbai was over,Dr Ram messaged me that we need to plan one basic course in Delhi. I was pleasantly surprised and also charmed by the zeal and energy of this man.
Delhi wealthcon is over.
The able General from Maharashtra along with his lieutenants has again conquered Delhi
To end with,I will quote a Chinese proverb, one of my favorites
*Teacher opens the door,you enter by yourself*
Teachers have opened the door, what are we waiting for??
Dr pradeep saini