My financial literacy journey began when I was 28 years old. By chance, I met the girl of my dreams, and before I knew it, we were getting married. At that time, I was living in Muscat, Oman, and doing well professionally. However, every penny I earned was being spent. We decided to return to India in 1997, and I chose to pursue my Master’s degree. I joined Aditya Birla Capital in 2002, where my journey into financial literacy truly began.
Working in the toughest business within an insurance company, it was a privilege to lead the Group and Direct Marketing business, and later, the Wealth business. For me, the exhilaration of building these businesses from the ground up has been the highlight of my 33-year professional journey. I was fortunate to work alongside fantastic colleagues, some of the best money managers, and a power-packed leadership team.
My exponential learning, stemming from extensive reading and my experiences with companies like Modi Xerox, Canon, Aditya Birla Capital, and Emkay Global, can be summarized simply: Treat other people’s money as you would your own, and keep it straightforward.
Imagine going to a prospective customer for five years (yes, five years!), and during that time, they never do any business with you. Each time, they hear you out, and you attempt to address their next worry. Most people would give up at some point, but what if that was the only customer you had in your entire career? You wouldn’t have the option to give up. If your strategy is purely to sell your product or service, you probably won’t succeed. But if you focus on solving their problems, addressing their challenges, and understanding the impact, you might win them over.
If you get the model right, the rewards can be substantial, especially given the size of pension liabilities in India, which have soared to over $40 billion. This can make you think, especially when you’re interacting with some of the brightest minds in corporate India.
I developed a strong work ethic and became a saver and conscientious spender. Staying frugal in my early years helped me become debt-free and avoid credit card debt. (On a lighter note, credit cards are best used for collecting points!) Building financial security has always been a priority for me. Every month since I began working in 1989, I’ve saved diligently. I sacrificed in my formative years to afford a nice home, a car, and great holidays in my 40s. This practice continues to this day and has shown me the power of investing and compounding.
Growing up in a middle-class household that valued education, hard work, and integrity instilled in me great habits and discipline.
Having a personal finance plan is essential. COVID-19 has taught us just how much we value our lives. I’ve experienced some of the worst tragedies, including losing the love of my life to cancer in 2021. It’s never easy. There’s no guarantee that the plan you have is the perfect one—there will always be ups and downs, whether in your career or personal life. But you have to act; even an okay plan is better than no plan at all.
After working for these prestigious institutions, managing client investments totaling over $2 billion, and being answerable to thousands of customers with different risk profiles, mindsets, and goals, I’ve learned to develop bespoke solutions for diverse needs.
One of the greatest lessons I’ve learned from working with some of the brightest money managers is that “Wealth creators are built differently—they have the resilience to endure drawdowns and volatility.”
There are many approaches to investing—value investing, growth investing, net-net strategies, etc. But if your goal is to create wealth, there are no shortcuts. It’s a continuous process. More often than not, “Leaders create wealth.” It’s a simple concept, yet one that many struggle to grasp.
One day, a good friend might introduce you to their wealth manager. After completing your risk profile and the day comes to part with your money, it’s only natural to feel nervous about whether you’re making the right decision.
My own investments reflect my conservative approach, yet I remain proactive when opportunities arise. Reading is an underrated form of learning and wealth creation, and it has refined my understanding, giving me the confidence to manage my own money while helping others on their journeys.
In conclusion, whether you’re a professional, in service, in business, an entrepreneur, or an inheritor, having a second source of income and a solid financial plan is essential. I feel secure knowing I have my own financial safety net. It gives me more control over my life and future.
