Big marketing hoax: Invest Rs 1.25 lakh, reap Rs 1 cr

A BIG DEAL: Be cautious and be prudent with your money and invest in a rational, planned manner.

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Kartik Jhaveri, founder of Transcend Consulting, a private wealth management firm, helps you understand your money better, and guides you on how to lasting create wealth in a rational, planned manner.

Pay close attention to the following telephonic conversation between a client and me.

The background: my client was excited about a piece of information he read in the newspaper. If he invested Rs 1,25,000 today, in a policy by a leading insurance company, he would make Rs 1 crore (Rs 1,00,00,000) in 20 years!

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Me: Something's wrong. Please check the figures.

Client: No, no, this is a fact — I am holding the papers in my hand!

Me: Have you written out a cheque?

Client: Well, I plan to. The agent's standing next to me, and I have my cheque book open. But I thought of double checking with you first.

Me: Before signing that cheque, please fax me all the papers. I will revert as soon as possible.

Client: Okay.

I checked the papers as soon as he faxed them to me. Next, I called up my client and the conversation took a different turn.