Today, we are honored and excited to bring you up close and personal with our client of 8-years, Pavneet, who has journeyed with us since 2014.
There’s an adventure to every journey, and here’s a glimpse of his story and secrets to his success!
Before I embarked on my financial wellness journey, I spoke to many financial consultants and each of them gave a very siloed view of what I should do. Every one of them specialised in one specific area such as protection, endowment, but there was no holistic approach which left me confused on what I should do. It was nerve-racking.
Then in 2014 I met Garry, and I understood more regarding his work. I thought it would be a really great idea to discuss and share with him my financial goals in terms of savings, retirement, and other protection. So that’s how the journey with Garry and Team GGO started.
Importance of Family Goals in Financial Planning
The main focus at the start of my journey was to sufficiently protect my family from any unexpected incident. Next we looked at joint family goals such as kids' education.
So we slowly broadened our thinking from just basic protection to whole investment planning.
Overcoming the Fear of Long-Term Financial Planning
One of the big challenges was mindset. Because suddenly now you are thinking 30, 40 years down in the future, you need to set aside a lot of money every month to meet those goals which can be quite overwhelming.
In the end, I looked at the long-term goals and said, “Okay, this is the right thing to do.” That is how I overcame the fear.
In the end, I looked at the long-term goals and said, “Okay, this is the right thing to do.”
There were moments when I thought
about sidetracking, such as when I needed some cash and wanted to see if my plans would allow me to withdraw that cash without penalties. In the end I managed to make it work, and I didn’t have to do that.
One example is when my family was making a very important property decision. For that I needed to change my cashflow a bit. So I did some individual thinking, sat down with Garry, and discussed if this made sense and how we could use the existing plans to make it work for me.
In the end we routed some CPF monies and withdrew some coupons. So I was really proud of that moment that I could use all my planning to make it work for me.
The Importance of a Supportive Spouse in Financial Planning
Throughout this journey, my family, and especially my wife, Ujjwal, who had given me tremendous support. When we thought about investment decisions, we thought about it as a unit, as an entire family, not just me or her.
Her trust and confidence was a given and she was present at all the important meetings when we made those decisions as well. So I think without that support, I wouldn’t have been able to come so far.
When we thought about investment decisions, we thought about it as a unit, as an entire family, not just me or her.
The Role of Visibility in Financial Wellness Journey
On top of the property decision, to have visibility in one's financial wellness journey is a very important aspect that many of us miss. With the siloed view you do not get the end-to-end visibility.
When I work with finexis, Garry, and Team GGO, I am able to have a good projection of my assets, and financial situation in the future, along with the likely scenarios or events which may happen in my life time.
Achieving Totality in Financial Planning
Visibility is a key goal I was after in this journey. I currently have a clear view of what is going to be my cash flow (passive income) and protection levels before the retirement age of 60, and beyond that which gives me a peace of mind.
The second thing was looking at things in totality, that is also something I have achieved as well.
Through these, it feels like there is this huge sense of relief and responsibility that I have shouldered for my family as well.
If I could redo this journey, I would have upped my quotient on the investment planning side, and probably started a few years earlier. I think that’s what I would change if I were to go back.
Achieving Financial Wellness Through a Delightful Planning Journey
The team played a very important role so I would definitely use the word ‘delight’ when it comes to working with finexis. They were always there for us when we need them. For instance those high pressure situations that really helped us a lot.
Beyond that, surprising us in our daily lives, on our birthdays, or with movie nights. Those are special things that I really liked through this customer journey. So I was delighted every step of the way.
Appreciation for the Financial Planning Team
There’s definitely a lot of finexians who helped me throughout this journey. There was Leah, Ferlyn who has been there for a long time as well. Recently Hanisah, who worked with us quite in detail, so I would like to say a big thank you.
Beyond that, I started my journey with Garry and Gwen. So a big thank you to them as well. My fullest appreciation for the team.
Disclaimer: This content is for informational purposes only and does not constitute legal and financial advice on any subject matter. It should not be relied upon as financial advice.
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