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It was 1988. I was planning to buy a car—my first big purchase. Like all youngsters, I was extremely excited about it. But my mentor, KG Vassal, retired executive director of UTI, was against it. He advised me to take a loan and buy a house instead of spending on a car. Of course, at that time, I could only afford a property in some remote place. However, he insisted that it would be very rewarding in the long run. When I did buy a house years later, I remembered his advice. The value of that property has appreciated remarkably and is my best investment till date. I think everyone should concentrate on building wealth first. Other expenditure should not be priority.
- As told to RAJSHREE KUKRETI |
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