Money mistakes can make even ‘Baahubali’ a villain!

Baahubali

SS Rajamouli’s fantasy fiction ‘Baahubali 2 – The conclusion’ has had a scorching box-office run, minting over Rs 1,500 crore. Indians across the world are going ga-ga over the larger-than-life protagonist whose ripped physique can only be matched by his massive strength and boundless courage.

Yet, father ‘Amarendra Baahubali’ epitomises the biggest money mistakes that a daddy and also a husband can make during their life-time. Here are the three financial blunders that make this strong man a reckless villain.

I don’t need no life cover: His name may have been ‘Amarendra’ (means immortal god), but even Baahubali had to bow before death. Assuming that death will happen later is a big money mistake that many of us do. Prince Baahubali died pretty young, leaving behind a helpless wife and a son. The premature death of the main bread-winner of the family can be a deadly blow for dependents. The fictional characters in the ancient kingdom of Mahismati may not have access to insurance, but we surely do.

“People in our family have long life, or I will die later is one of the lamest excuses for not taking a life cover. By ignoring a fact of life, we end up exposing our loved ones to financial crisis at their most vulnerable moment. By simply buying a term insurance cover you can cheat death’s blow on your finances. The annual premium for Rs 1 crore term insurance costs an affordable Rs 15-20 per day, and can fully replace your income if death arrives at your doors earlier-than- expected,” says Anil Rego, founder or financial consulting firm Right Horizons.

Shortly after Amarendra Baahubali died, his son Shivudu/Shiva was destined to lead a villager’s life while wife Devasena spent over two decades in chains.

No estate planning: As a part of the ruling royal family, Amarendra Baahubali wasn’t poor. He had his share of riches. But in his single-minded ambition to right the wrongs, the rightful king of Mahismati never built his estate. Flagged by Kattappa on one side and foster mother Sivagami on the other, the courageous hero thought he had everything. But he didn’t. All those riches as a prince were never organised into an estate, and without a proper plan, his wife led a depressing existence. Wonder how female fans, who skip a heartbeat when ‘Baahubali’ smiles on film-screen, would react if their rich husband left them in the lurch? Irrespective of your net-worth, the fact is you will most likely have an estate that comprises your property, investments, bank accounts, retirement plans and direct/indirect interests in businesses.

“So, estate planning is not just for flamboyant billionaires or kings. If a person doesn’t have a will or living trust, he/she is creating problems for the estate both during their life and after demise as well… Since wives are often younger than husbands, women often outlive their partners. In the absence of husband, it is reckless to leave a woman’s fortune in the hands of family-members who may be well-wishers today but could turn against her tomorrow,” Neha Pathak, head of trust and estate planning at Motilal Oswal Private Wealth told DNA Money.

Leaving children to fend for themselves: You are lucky Amarendra Baahubali isn’t your father. In the two-part story, his descendants led by son Shivudu eventually come back to claim the throne by defeating ‘Bhallaladeva’ and his henchmen. The audience goes back home, elated with the happy ending. In reality, the story would be quite different. In 2017 without financial resources, such daughters and sons would have poor education, and a shaky career.

As a father when ‘Baahubali’ gave up his life of luxury to live in the forests, and finally loses his life, he exposed his only son to years of hardship. A responsible parent ought to plan for his children; a plan that outlives parents. Financial advisor Ramesh Singh says, “By not having any plan for their children’s life, many fathers become villains. A child has his/her own wishes and right to lead a life they deem fit. Their aspirations are important. Having no financial plan for your child is a great disservice as a parent. Reel heroes can get away from such responsibilities in a movie, but real-life parents shouldn’t.”

REAL-LIFE WISDOM

  • Amarendra Baahubali’ epitomises the biggest money mistakes that a daddy and also a husband can make during their lifetime
  • By simply buying a term insurance cover, you can cheat death’s blow on your finances and stay secured, say experts
  • If a person doesn’t have a Will or living Trust, he/she is creating problems for the estate after demise
  • Responsible parents ought to plan for children that outlives parents

 

By KUMAR SHANKAR ROY

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