How do ace investment managers handle their personal money
matters? Preeti Kulkarni speaks to four such women money
managers for insights.
Money Management Lessons
From the Women on Top
Money Advice From Mother
I would say that I have a learnt lot by observing my
mother over the years. She was a working woman who
started her career after marriage and children. It was
sheer determination that enabled her to achieve this
feat. She was a teacher, a profession that has always
been highly regarded. My father passed away when
she was 36 and she shouldered all responsibilities since
then. One might say she did not have any scope for
planning or saving. But she invested in her children. She
kept me away from household responsibilities so that I
could focus on my studies. She considered education to
be the doorway to a bright future. She provided financial
support for my education, though scholarships that I
won also helped. With a sharp focus on the future, she
insisted on me doing my post-graduation. She got me
to fill up my State Bank application form. She was clear
that I should have a career and not just a job.Money Lessons Learnt
I had purchased a plot of land long ago and got a
house built, as is typical of my generation. However, I
live in Mumbai and it is difficult to maintain the house
and the ancillary supervisory activities it calls for. You
need to look for tenants, keep track of rent payments,
maintenance and so on. Besides, my 13-year-old
daughter is unlikely to need this house. However, making
a decision to sell isn’t easy as real estate is not a liquid
asset. Moreover, my daughter is not overly fond of gold,
so my investments in gold too have limited utility value.
Financial investments, on the other hand, are liquid
investments that can be liquidated and used for any
purpose you wish.Money Mantras
Start early, save first, and spend later. Don’t invest
merely what you are left with, but make it a priority.
Invest regularly. Remember, bank fixed deposits are
for contingencies. If you want to grow your wealth, you
must invest in equities as only this asset class can beat
inflation in the long run. When you save, keep in mind
that the cost of living would rise after 30 years and plan
your investments accordingly. Also, when you need to
use funds from your investments to fulfil a financial
goal, explore options like SWP (systematic withdrawal
plan), which help you get regular cash flows in a very tax
efficient manner.AnurAdhA Rao
MD and CEO, SBI Funds Managementhttp://www.outlookmoney.com March 2018 Outlook Money 43
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Photo: Soumik kar