“Can you give me a loan of 3 lakhs?”, the caller at the other end of the line asked in a sheepish voice. It was Rohan. Years had passed by since we both had left our jobs and joined different organizations. Our interactions were less frequent. But since we both stayed close by, we used to meet each other on festivals or occasions . “3 lakhs! Why do you need such a huge amount? Don’t tell me that you’ve started gambling”, I asked him. Rohan laughed at this suggestion. “ I want it for my daughter’s education. She wants to go abroad for further studies. I don’t have the money in lumpsum now. That’s why I need it”, he explained.
Both his daughter and my son had reached the age where they had to think about their further studies. They were just a couple of years away from graduation. Even my son, the other day, was expressing interest about going abroad for his higher studies. My endowment plan was about to mature in the next two years and then I would be getting a lumpsum amount. Rohan, as usual, may not have invested in long-term avenues. The stock markets were not as attractive as they used to be earlier with the returns diminishing. Perhaps he had made no provisions to get his daughter admitted in a foreign university.
“Hmm. I don’t have it now. But in a couple of years, my endowment plan would mature and I would be getting a lumpsum amount. After providing for my son’s future education plans, if I’m left with some amount, I could sure help you out”, I said. “Your long-term planning has helped you now. I wish I had heeded your advice and invested some money in long-term investments. Even I could’ve been better off at this point”, Rohan remarked.”Any ways, no issues. If you can, do let me know. Perhaps I’ll now have to go for a personal loan or something to arrange for the funds”, he continued.
I said a bye to him and after hanging up, thought to myself. All those years of saving in a disciplined manner is helping me out now. Rohan would have to take a personal loan or something and keep paying off the EMI’s till the time he retires. This will take away a part of the savings that he could’ve put aside for his retirement. I do not need to do that. I smiled to myself. I felt happy and pleased with my efforts and today all the sacrifices that I’d made were paying off.