Sunday, January 17, 2021
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Financial Wellbeing Workshop For CA’s by Taresh Bhatia

 When my friend CA Satish Goyal asked me to address over 85 Chartered Accountant, I was not sure! I told him that they would be all learned and highly qualified people who may not like to listen to me! But he insisted to me that it would be a good idea. I agreed. Financial Wellbeing Workshop for CA.

Now was the most difficult part wherein I had to prepare well ! So made a wonderful presentation with a lot of relevant videos to go with the various sections. It came out well.

In the first place, I would like to thank Shastri Nagar CPE Study Circle Of Northern India Regional Council of ICAI for giving me this opportunity and CA Satish Goyal for all the support extended to me

It was a great challenge to address learned CA’s. One thing I clarified right in the start, that I was there not here to sell anything. Just in case the participants wondering why I am there… is it any kind of sales activity. No sales at all.
My initiative was supported by Investor Awareness funds of Mutual Fund Companies. They are doing this as it has been mandated by government regulatory body SEBI (Securities Exchange Board of India) to hold such investor awareness programs.
I was there to genuinely make then aware of the best way of managing their money so that they be open to the ideas shared in the program and participate fully in the next 1 hour.
They were eager to know what’s new! They all didn’t move out throughout the session.
While I was on stage and took these top CA through the presentation, they were surprised to find that their concept of financial planning is quite contrary to what I was saying. Like they all made full ITA Section 80C investment mostly in PPF, ELSS (Equity Linked Savings Scheme, an equity oriented mutual fund made especially to save income tax under the Income-tax Act, Section 80 C) was explored by nearly none!

Contingency fund was again a new concept

Children’s education future value planning was understood well.

Taking term insurance only as the only policy to be taken from an insurance company was again a surprise as they mostly took endowment and money back policies. When I advised them to take term only until the age of 60 or 65 or till all heir financial family commitments were met, was found to be interesting by them.
I had planned 40 mins basic while I was given 1 hour but the basic went on to more than 1 hour. With many videos shown in between, the interest was kept alive especially A B in Baghban clips- I stopped that clip three times to reiterate retirement for them. I told them the story of an NGO called Earth Saviour where over 400 senior citizens are taken care as their children left them or they turned homeless due to similar circumstances-like Baghban. When I asked how many are like this scenario, 81/85 said yes!
The fact that they didn’t leave despite being knowledgeable proved that my session was good and interesting
Participants liked the 5-7 video clips that I played out to explain the concepts of financial planning and investments. So much so, they were requested me to send those video and the presentation.
I was later told by my host that they all enjoyed the session and found some useful pointers for managing their own money in a better way.

Instead of working on all the learnings, I recommended them to focus on 3 most important learnings from this session and implement them on a priory basis in the next few days.
I thanked them all for their patient hearing and thanked once again to their organizers for hosting this camp for them all.
All those who filled in our form agreed to subscribe to our very useful email course called “31 Actions for Financial Wellbeing”. These are tips and strategies around money management written in short & crisp articles format. I am sure they would find this email course interesting and relevant. As part of this campaign, they can also get a free basic financial plan / a financial wellbeing check-up done for them at my office in the next few days as part of my commitment towards financial literacy.

On a lighter note – Even CA’s need professional guidance

Taressh Bhatia
Father to a beautiful daughter and a handsome son, whose mother he is still in love for 23 years now. An Honest truth he never told anyone! He went broke three times in his life, he Started wondering going wrong! Which made Taressh learn the best about personal finance. He then went on to do the highest qualification in the world, in personal finance-CERTIFIED FINANCIAL PLANNER- called CFP. He has an MBA from IMI Institute in New Delhi. He is the Founder and Partner of the firm, Advantage Financial Planners LLP- which is registered with SEBI as a "Registered Investment Advisor (RIA). And today, as a financial freedom specialist, he is helping individuals and families to be financially free, free from worries about money. Having helped thousands of people, to organize their financial life, today he is on a mission to transform how India looks at money! Thereby triggering a financial revolution in India.
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