At 46, I found myself at a turning point. My education had been in engineering, and I spent over two decades working in technical IT roles. For most of my career, money was just a paycheck—a way to cover expenses and stay secure. I never thought much about how to make it grow or work for me. However, everything started to change when I moved into IT consultancy. Suddenly, the conversations weren’t just about technology—they were about pricing, profits, and finances. That’s when I realized I needed to understand more about how money really works in business.
Later, when I transitioned into business and management consulting (for Healthcare/Pharma, MedTech, Biotech), I was constantly discussing industries, companies, and their financial performance. I began to realize that understanding the financial side of things was crucial. So, I decided to pursue an MBA to deepen my knowledge.
During my MBA, I was introduced to finance and accounting for the first time, and it was a game-changer for me. We studied financial statements like income statements, balance sheets, and cash flow reports—things I had never paid attention to before. I started to see how finance was the backbone of every successful business. It wasn’t just about numbers; it was about making smart decisions and planning for the future. I began to wonder—Why don’t we apply the same thinking to our personal finances?
That thought stuck with me. While companies have financial strategies to grow and sustain their ventures, most people—myself included—don’t approach their personal finances with the same level of care. I decided to take a closer look at my own investments and realized something shocking: I had been managing my money carelessly. My savings were sitting in accounts that didn’t serve any long-term goals—fixed deposits, endowment policies, and other low-growth options. I hadn’t thought about how to truly grow my wealth, and I was missing out on opportunities.
This realization pushed me to explore better options, and I discovered mutual funds. Initially, I felt like I had found a solution, but even then, I wasn’t making the most of it. My investments were managed through my bank, but there was very little guidance or adjustment over the years. I wasn’t actively involved in the process, and once again, I wasn’t maximizing my returns. It became clear to me that I needed professional help. I reached out to an advisory service, and they helped me create my first financial plan. Today, my investments are split between my bank and that advisory service.
One thing that stood out to me during this time was that my investment corpus had grown over the last 12 years in 8 digits, but I hadn’t taken an active role in managing it and I think it can grow substantially. My mutual fund portfolio had grown steadily, but I hadn’t paid much attention to how it was compounding. I realized I needed to be more hands-on in managing my investments to ensure they compounded efficiently. Balancing risks with returns became a priority, and I knew I could no longer afford to rely solely on others to handle my finances.
As I continued learning more about personal finance, a question kept coming back to me: Why am I relying so much on others to manage my money? I realized I needed to take control. I wanted to understand exactly where my money was going, make informed decisions, and reduce my dependency on outside advice. But my goals didn’t stop there. I didn’t just want to manage my own money better—I wanted to pass this knowledge on to my family, especially my child, so they could learn to avoid the mistakes I made. By gaining this expertise, I hope to enrich not only myself but my entire family. And eventually, I want to share what I’ve learned with others and make a positive impact on society.
This inspired me to search for institutions that could help me become an expert in personal finance. That’s when I found ICOFP. Not only is ICOFP India’s first college focused on personal finance, but it also trains professionals to guide individuals in managing their money. The college offers the knowledge and tools needed to take charge of personal finances and help others do the same. Morever, I wanted a live remote class, with timings in weekend to not to disturb my work.
Looking back, I realize that it took me 20 years to fully appreciate the importance of financial planning. I’m sure there are millions of others in India and around the world who are still unaware of how to manage their money to reach long-term financial goals. Most people save, but very few invest strategically. By joining ICOFP, I hope not only to improve my own financial management but also to pass that knowledge on to my family and, eventually, the wider community. I want to help others avoid the same mistakes I made and show them how they can achieve their financial dreams with better planning.
