The Financial Sherpa You Need
Outlook Money|August 2023
Getting the right advice can play a major role in achieving financial freedom, but whose advice are you taking? We sift through the financial advisory landscape in India to look at the options investors have and where they should go
Nidhi Sinha and Kundan Kishore
The Financial Sherpa You Need

Reaching the pinnacle of Mt Everest is a pipe dream that a lot of mountaineers have. But making that dream come true is not simple at all—it requires years of physical and mental training, consistency, careful planning and a focused approach. Even then, most mountaineers are unable to take the arduous road without the sherpas, known for their skills in mountaineering, to guide them.

The dream of achieving financial freedom—the pinnacle of one’s financial life—is no different. Just like mountaineering, to realise the financial freedom dream, you would need years of planning, training, consistency, a focused approach, and a financial advisor to guide you on the path.

In both the cases, choosing the right guide is the key to success because misinformation, bad advice or a wrong decision can spell disaster.

W. BHAKTARAJ, 68

Imphal-based retired sub-divisonal officer, Govt of Manipur

After his retirement, Bhaktaraj lost a substantial amount of money when he invested his earnings from the stock market in dubious schemes that promised huge monthly returns

"I didn't reinvest the money in stocks as I was retired and cash was limited; one of my children was also unemployed at the time; and I needed regular cash flow. So, I invested in a few schemes that promised huge returns and lost a lot of money. There was no one to guide me."

W. Bhaktaraj, 68, a former subdivisional officer (SDO) in the Manipur government, lost a substantial amount of money when he invested his earnings from the stock market in dubious schemes that promised huge monthly returns. "I didn't reinvest the money in stocks as I was retired and cash was limited; one of my children was also unemployed at the time; and I needed regular cash flow," says Bhaktaraj.

Bu hikaye Outlook Money dergisinin August 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Outlook Money dergisinin August 2023 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

OUTLOOK MONEY DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Stay Ahead Of AI-Powered Cyber Fraud
Outlook Money

Stay Ahead Of AI-Powered Cyber Fraud

AI has become an integral part of our lives, right from customer service at banks to insurance claims. But it has now become a powerful arsenal for the fraudsters too who are increasingly using AI to scam individuals and corporations alike to commit fraud. The key is to stay vigilant

time-read
7 dak  |
December 2024
Travelling To Europe? Pack In The Essential Covers
Outlook Money

Travelling To Europe? Pack In The Essential Covers

Smart travellers must know that insurance is a must-have. From essential health coverage to theft protection and trip interruptions, know what you need for a worry-free Europe trip

time-read
6 dak  |
December 2024
How To Spend Wisely This Year-End
Outlook Money

How To Spend Wisely This Year-End

We all spend during the year-end. But the trick is not to overspend or borrow, either from friends, or your own investment, to fund your indulgence. Maintaining balance is the key

time-read
5 dak  |
December 2024
Travel Now Pay Later (TNPL)
Outlook Money

Travel Now Pay Later (TNPL)

Travel now, pay later (TNPL) is a close cousin of the more popular buy now, pay later (BNPL) schemes.

time-read
2 dak  |
December 2024
12 Books Devina Mehra Loved Reading In 2024
Outlook Money

12 Books Devina Mehra Loved Reading In 2024

Listing books of her choice, among the ones she reads during the year, is ace investor Devina Mehra's favourite year-end activity. She says it's a daunting task to pick around 12 books from a list of 50.

time-read
6 dak  |
December 2024
Here's How To Avail Of Ayushman Bharat Yojana
Outlook Money

Here's How To Avail Of Ayushman Bharat Yojana

Launched in 2018, the Ayushman Bharat Yojana aimed to provide health coverage to targeted benefi ciaries from the Socio-Economic Caste Census (SECC) 2011, based on deprivation and occupational criteria.

time-read
2 dak  |
December 2024
'Focus On The Business, Assess If You Want To Be A Partner For 10-20 Years'
Outlook Money

'Focus On The Business, Assess If You Want To Be A Partner For 10-20 Years'

Professor Sanjay Bakshi, a value investor, behavioural economist and adjunct professor at Flame University, Pune, gives his unique perspective on how to choose a stock, in an interview with Nidhi Sinha, editor, Outlook Money, as part of the Wealth Wizards series. He also shares his learnings from role models Warren Buffett, Charlie Munger, Benjamin Graham and others, and how being a chartered accountant, economist, investor and teacher make him into what he is today. Edited excerpts from the interview

time-read
10 dak  |
December 2024
The New Trump Card For IT, Pharma
Outlook Money

The New Trump Card For IT, Pharma

Donald Trump has been re-elected as the 47th President of the US after a gap of four years. Here's how it will affect the Indian markets and how it will benefit sectors such as IT, pharma, export-oriented sectors and others

time-read
8 dak  |
December 2024
European Sojourn
Outlook Money

European Sojourn

Tight on budget? Dump the popular European destinations for the little-known wonders that are equally attractive

time-read
10+ dak  |
December 2024
Gold ETFs And FoFs
Outlook Money

Gold ETFs And FoFs

While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.

time-read
2 dak  |
November 2024