A lot can happen over a cup of coffee.
It was around 10PM at night & i received call from Alap. I knew him since my college days & we were roommate.
“ Hi Hardik ! How are you?” He starts with formal talk which is unusual between us .
“ I am fine Mitra” I replied casually.
“ What is going on?Everything alright?” He asked. With the Relationship of more than 20 years i wondered with his casual approach so i decided to make fun out of it. “ Everything is fine.Routine is going on” – I simply replied.
“ I am asking about Market man.How it is?” – I can sense some doubt in his voice.
“Ohh..It is also routine.It opens at 9.15am as usual & Closes at 3.30pm sharp” .I know this is not the answer he is looking for but i wanted to dig more.
“ I am serious Hardik. I was just watching our Investment Mobile app.Nothing is moving since Last 3 Months.Market is down.Trump is giving new statements every day.Interest rates are moving high again.Crude is at all time high.You know i am in IT field & nothing is permanent here.You are my financial planner & want you to act on my portfolio.” – All sentences in one breath.
I was right. He was in doubt.Since market in range i received many similar questions from investors so it was routine for me. As a friend & planner it was my responsibility to respond his query.But i want to ensure he learns out of this situation. “ Let’s have a cup of coffee together Alap at your free time” I replied with true knowledge that what is going to come next from him.
“Come on friend.Are you mad?You want me to fly all the way from USA to india to discuss my monthly SIP & Portfolio. It is your job.” – Real anger in voice with little frustration.
“ Do you send reports to your doctor yearly & seek his advice on phone” – I knew he is health conscious. “ You are changing topic but my answer is no.I visit him personally.There are other things which i discuss with him.Change in my routine,habit,health issues etc..But come back to our topic.It is more important”.
“ I am on same topic & now we both are on same line.Even i wanted to discuss many points with you” – Now it is my turn to take charge of discussion.
“ We lost your brother in a severe heart attack a few months back & your mother because of cancer 2 years back.It is very high time that we recheck your Life insurance status & align it with your current income.Since your father is alone here & you may rush to india anytime.You have to plan your emergency fund.Swara will be in 3rd standard now & Jaineel will be in school from next year .We need to plan their education.As you said nothing permanent in IT ,we need to discuss your Retirement plan.Let’s recheck your health insurance in case you wish to settle in india after retirement.I can draw attention to a few more points but enough as of now” – It was my time to reply breathlessly & with full authority.
“Hey..Are you there?” I need to recheck my connection as i received silence from other end.
“Yes..Yes i am here.It is too much man.But let me acknowledge that it is important.I just carried away from my goal to market condition.You are right mitra”.Now i could feel real voice of alap.
“But still it is difficult for me to fly to India.Is there any alternative?Can we discuss this coming weekend?” – He continued.
“Why not?I am available on Skype,Google,What’s app-whatever you are comfortable.Don’t forget to keep a cup of coffee during our discussion.Because lot can happen over a cup of coffee.” – I was in planner Hat.
“ Sure mitra . Catch You on saturday.” – Relax Alap Replied.
Since Alap is my best Friend i took liberty not to change name . It is always important to review your portfolio with your planner.It will help to discuss your goals & realign your portfolio.A cup of coffee is waiting for you too.
Certified Financial Planner