SBI Mutual Fund’s Anuradha Rao: Look at investment avenues other than gold and FDs
Smartest money decision
I used to invest in every product that I would recommend my clients. This helped me gain more conviction on each of the products I recommended. I helped many clients to make timely and appropriate investment decisions.
Biggest money mistake
One regret is that I over-invested in physical assets such as real estate. Though I had one house in my hometown, I had purchased a plot of land long ago and got a house built. However, I used to live in Mumbai and it was difficult to maintain the house. Despite several sporadic efforts to sell it the pricing never seemed right.
Money mantra for women
Look at investment avenues other than gold and FDs. Start early through regular SIPs in mutual funds. Be focused on the realisation of goals. Try to educate yourself sufficiently and do not hesitate to seek advice if necessary.
Gender clichés
Women face a lot of stereotypes with respect to the work life balance, key milestones in life such as marriage and motherhood and career advancement. Support system at home and work have helped me in dealing with these obstacles. Strong parental conviction in my being destined for a career was a powerful motivation.
Letter to young women employees
From: Anuradha Rao
To: Millennial women
Subject: Women’s Day
Dear colleagues,
When you were born your parents were filled with joy, your first baby steps made them elated and soon you took your first step to education. And here you are, today, taking the first step of your career. Your parents must surely be proud.
Now you have joined a respected organisation in a professional role, carrying great responsibility. You should be able to look back and feel equally proud of your achievements in a few years. How can this aspiration be realized?
There are some things that will come your way—a variety of challenging roles (if you are willing to try), a mentor to guide you from time to time (who is a respected senior) and regular avenues for upgrading your skills. But there are some things you have to do yourself.
In a customer-centric organization, processes are designed and decisions are made, with a view to enhance the customer-experience. You must align yourself to this overarching goal. Get your basics right. Build on your strengths but consciously work on the weaknesses. While you focus on key parameters such as sharpening your skills, learning new proficiencies, do remember a few critical tips which will be invaluable for your career ahead:
• Your attitude at work is as important as your aptitude. Having the skills is important but so is your approach to the task.
• Consciously build a network. You will be surprised how it can be more effective than hierarchy and instructions.
• Be ambitious and take challenges; we want you to be able to realise your deepest potential.
• Just be yourself. You are in an organisation for your strength and uniqueness. You can have role models, but there is no need to be ‘someone else’.
• Learn to be a team player. Collaborate. Help others and draw strength from them.
Having said these few words about work principles, let me urge you to also learn to manage your money. As a woman, you become financially independent not by working for money but by putting your money to work. That not only gives wings to your dreams, it makes you more confident, bestows a sense of satisfaction and makes you an inspiration for others. A woman contributes in a big way not just to her family, but also the society and economy at large.
“There is no force more powerful than a woman who is determined to rise.”
Source from LiveMint
Radhika Gupta, chief executive officer, Edelweiss Asset Management Ltd./Mint
Smartest money decision: Spending conservatively, and saving and investing as soon as I started earning. I was 21 and while I had little experience managing money, I was clear about building a corpus. Having that corpus gave me the ability to move back from the US to India and start my own business without family backing, and with the confidence that I could ride out 2-3 years without substantial income.
Biggest money mistake: Not paying attention to asset allocation. When I started earning, there was an impatience to invest entirely in equities as everyone else was doing the same and times were good. I didn’t pay attention to my own risk profile.
Money mantra for women: Have control over your financial decisions and take the time to learn how to manage your money. Investments are not complicated in today’s digital age and just doing the basics right is enough. Tailor your investment plan to your needs and never deviate from that.
Gender cliché’s at work: Women are surrounded by clichés—glass ceiling, work-life balance, cultural fits in the office, the challenges of safety and travel. You can either choose to let these limit you, or you can move past them and focus on doing your best.
Letter to young women employees
From: Radhika Gupta
To: Millennial women employees
Subject: Women’s day
Dear colleagues,
You are about to embark on such an exciting journey, and today, I wish I were you, just taking the first steps in my career. If there is one thing I can say with certainty is that your “work experience” will be a roller coaster ride—it will be unexpected, full of twists and turns, exhilarating and also sometimes frightening. If you embrace this with open eyes and an open mind, however, you will feel exhilarated and satisfied at the end of this ride.
Starting your first job is not a small step, but a huge leap towards financial independence and I cannot tell you how powerful that step is.
For many years, our identities as women have been daughter, sister, wife and later mother, defined in relation to someone else, but your career will give you an identity that is yours and only yours.
Regardless of how generous your parents or husband are, the power of earning your own money is unique. The small things like buying a dress for yourself without asking anyone will give you a kick (I still feel it!) and the big things like being able to start a business with your own savings will make you dream big.
Starting today, set high aspirations for yourself and your career, because reaching for the top starts with dreaming about it. Work hard towards this destination—go that extra mile on a project, ask for more responsibility, and stretch your own boundaries.
Discover your strengths and hone them well, and work hard on the feedback that you get. As I often tell my team, we are all a masterpiece and a work in progress at the same time.
Finally, you will get a lot of advice on what has worked for other people, what to do and how to be. Listen thoughtfully, but remember that you are unique. Write your own story, and I promise you the world will listen.
Good luck. Work hard and have lots of fun.
Source from LiveMint
“There is no force more powerful than a woman who is determined to rise.”
Radhika Gupta, chief executive officer, Edelweiss Asset Management Ltd./Mint
Smartest money decision: Spending conservatively, and saving and investing as soon as I started earning. I was 21 and while I had little experience managing money, I was clear about building a corpus. Having that corpus gave me the ability to move back from the US to India and start my own business without family backing, and with the confidence that I could ride out 2-3 years without substantial income.
Biggest money mistake: Not paying attention to asset allocation. When I started earning, there was an impatience to invest entirely in equities as everyone else was doing the same and times were good. I didn’t pay attention to my own risk profile.
Money mantra for women: Have control over your financial decisions and take the time to learn how to manage your money. Investments are not complicated in today’s digital age and just doing the basics right is enough. Tailor your investment plan to your needs and never deviate from that.
Gender cliché’s at work: Women are surrounded by clichés—glass ceiling, work-life balance, cultural fits in the office, the challenges of safety and travel. You can either choose to let these limit you, or you can move past them and focus on doing your best.
Letter to young women employees
From: Radhika Gupta
To: Millennial women employees
Subject: Women’s day
Dear colleagues,
You are about to embark on such an exciting journey, and today, I wish I were you, just taking the first steps in my career. If there is one thing I can say with certainty is that your “work experience” will be a roller coaster ride—it will be unexpected, full of twists and turns, exhilarating and also sometimes frightening. If you embrace this with open eyes and an open mind, however, you will feel exhilarated and satisfied at the end of this ride.
Starting your first job is not a small step, but a huge leap towards financial independence and I cannot tell you how powerful that step is.
For many years, our identities as women have been daughter, sister, wife and later mother, defined in relation to someone else, but your career will give you an identity that is yours and only yours.
Regardless of how generous your parents or husband are, the power of earning your own money is unique. The small things like buying a dress for yourself without asking anyone will give you a kick (I still feel it!) and the big things like being able to start a business with your own savings will make you dream big.
Starting today, set high aspirations for yourself and your career, because reaching for the top starts with dreaming about it. Work hard towards this destination—go that extra mile on a project, ask for more responsibility, and stretch your own boundaries.
Discover your strengths and hone them well, and work hard on the feedback that you get. As I often tell my team, we are all a masterpiece and a work in progress at the same time.
Finally, you will get a lot of advice on what has worked for other people, what to do and how to be. Listen thoughtfully, but remember that you are unique. Write your own story, and I promise you the world will listen.
Good luck. Work hard and have lots of fun.
Source from LiveMint
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