“My future self would thank me for this”

Updated At: June 12th 2023

Ms. Kejriwal, a Chartered Accountant, explains why she can manage money for her organization but not for herself and what led her to take professional help. Oh, and we also talk to her 21-year-old son about The Intelligent Investor and helping his mother with her personal finance.

Hello Ms. Kejriwal! Thank you for speaking to us. Could you please give us a brief recap of your journey of wealth?
My first paycheck was Rs. 10,000 around 25 years ago. Most of it used to go for commute and I wasn’t able to save much. Over the years, I was able to save quite a bit. As a Chartered Accountant, I have had a fairly rewarding career with a few global banks.
As a Chartered Accountant, you not only managed money at a large scale for your organizations, but also had some experience with all major asset classes. So what led you to take the help of Varun Krishna, one of our Wealth Managers at Wealthy?
Although I had theoretical knowledge of all asset classes, I lacked the inclination to follow markets closely or stay on top of my own finance. I was very engaged with my work and my finances took a backseat. Whenever I had some spare funds, I would make an FD or buy some blue chip stocks.

There came a point when I moved out of my job and I needed a steady income from my investments. That is when I reached out to Varun to help me manage my portfolio and customise it to my needs.
What specific changes were made to adjust your portfolio to your current situation?
So Varun did a deep analysis of my risk appetite, expenditures, assets, and also took into account that I didn’t have medical insurance. He also made me download the Wealthy app through which I now monitor my investments and make new investments. After freezing my plan, I went ahead with the recommendations and made investments accordingly.
What did you think when you invested in a property in Bangalore? How do you see this decision today?
It so happened that my brother-in-law had invested in this complex and took me around to show it. Until then, most properties I had seen didn’t excite me. I liked the plan and bought it in 2013.
Today, there are some teething problems. For example, the water is hard and the entry and exit into the complex needs some work. Apart from these, I am pretty happy here.

I wanted to diversify into real estate and a place to call home. Since I also have siblings staying here in Bangalore, I wasn’t looking at the ROI when I bought it.

Ms. Kejriwal wasn't looking at the ROI when she bought an apartment here. Other than a few teething problems, she is happy with her decision.
Do you believe that women need different products or advice for wealth management? What has been your experience?
I don’t have any prior experience with Wealth Managers. I would recommend it, especially for those who are financially independent and have control of their funds. It secures their financial independence and provides for their needs.
What do you think of DIY investors?
A DIY investor might not be able to generate the same ROI. I recommend a hybrid approach, in which one could go with a portion of their investments and keep aside a different sum which they could juggle themselves.

For someone who is not inclined in the markets or someone who doesn’t have the time like me, I would totally recommend a professional Wealth Manager.
What is your asset allocation?
Broadly, I have a sizable investment in real estate although it is not as per the ideal allocation. I have some investment in physical gold, gold ETFs, and securities. Through Wealthy, I have invested in Debt Funds and secure, interest-bearing bonds to help me tide over this period.
If you had a chance, what would you advise your 28-year-old self? And similarly, what would your 60-year-old self be proud about how you managed money?
I would tell my 28-year-old-self to engage a Wealth Manager sooner than later as time flies; it gives a lot of peace of mind and sense of direction.
My 60-year-old self will certainly thank me for the step I have taken. My future self will be financially secure and able to do things I wanted.
What are the things you are proud of? What do you regret?
I am a prudent person and I am proud of that. My son has also inherited the same. Having said that, I have spent on vacations and experiences but I am not the hedonistic kind of person who shops as a means of therapy. My real estate investments have been good in that sense..

I did lend a lot of money on trust to a friend in need. He fell upon bad times and that money never came back. It was a joint venture to create a parallel income for us, but it never took off. In hindsight, if I had a Wealth Manager at the time, he wouldn’t have allowed me to gamble that way with my money.
Although you don't have a lot of curiosity for the markets, your 21-year old son, an engineering student, is already reading about Warren Buffett and thinking about his retirement corpus. What do you think of that?
I am really proud that he hasn’t taken after me in that aspect. Ever since he started taking an interest in investing, it has broadened his outlook. It compels him to think about what he wants to do with life, other than just take up a job and make a living.

I see people of his age-group spend a lot of time on smartphones, social media, and other unproductive things. They start earning, but don’t get to invest until a couple of years into their career.

Ms. Kejriwal’s son - I have always been very conscious about my personal finance, even before I took up engineering. I have observed and learned from people, even from those who haven’t done so well. I decided to start early because time is the most crucial aspect in investing.

I read this book called The Intelligent Investor by Benjamin Graham. I will candidly admit that I didn’t get a lot of what he said. I look up to a few people, including my father, who have been kind enough to help me, whether it is a stock pick or any other investment.

What do you wish you had learned about wealth from your elders? Although your son is already ahead of most people his age in these matters, what would you advise him?
My spending behaviour is influenced by my parents, who taught me what to spend, what mattered and what didn’t. I am grateful for the way I turned out in terms of financial discipline.
The advice to my son would be - Together with investing and saving, you should also enjoy life; don’t just focus on saving and building wealth.
So do you think you will help out your mother with her finances?
Ms. Kejriwal’s son - Even if I am given the choice, I wouldn’t want to do that. I believe that when it is my money, I want it to be my call completely. I don’t want anyone influencing my decisions, and hence I don’t want to be a part of my mom’s decisions in these matters.
So Ms. Kejriwal, where would you like to be 10 years from now?
I have already travelled quite a bit, and I would like to keep doing that. I have allocated a sum of money for the further education of my son. Apart from an annual overseas trip, there is nothing really in my mind that I have to do now. I have covered most of the bases.
If you would like to have one wall hanging on wealth, what should it say?
Wealth shouldn’t rule your life, or take away your peace of mind.