Apologies if the title comes as a shocker. But, a very dear friend of mine, Sanjay Thakur passed away couple of days back.
Sanjay was a pass out of IITK/IIML and started his business, after a stint with Accenture. Around 2009, he came to know that he was suffering from Cancer, took medications, improved, but then Cancer relapsed (4th stage). Sanjay lost the battle, 2 days back.
Coming to the title of this article, entrepreneurs are too busy building their business and often ignore their families/personal finance.
But lets face this tough question – What happens to your family when you are gone ? Assuming that you are injecting a lot of your personal money in the venture (and some of you are still running against EMI demon), have you planned for the D-day?
I am not talking about life insurance etc – but a more fundamental question – i.e. plan for family stuff 20 years from now (kid’s education etc)?
While Sanjay did ensure that his family’s finance is taken care of (to a great extent), but life doesn’t always give a chance (sometimes the deed happens in a second).
So ask yourself – what are you doing to secure your family’s future, dear entrepreneur?
Recommended Read: 5 personal finance mistakes that first time entrepreneurs must avoid
[And apologies if the article title comes with negative tone, but lets face it – that’s life.]