Early retirement: How financial planning helped this seasoned market veteran retire early at 55
Early retirement: How financial planning helped this seasoned market veteran retire early at 55

Early retirement: How financial planning helped this seasoned market veteran retire early at 55

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Early retirement: How financial planning helped this seasoned market veteran retire early at 55

Ajit Menon, 55, CEO of India’s 25th largest mutual fund house PGIM, is retiring at 55. A 12-year partnership with a financial adviser helped map his path to early retirement. He now wants to focus more on retail brand building and retirement, while making time for family and personal interests. Menon: Aiming for happiness, rather than being overly happy, helps my best friend, who is my most significant support. Read more here: http://www.dailymail.co.uk/news/article-263876/Ajit-Menon-retires-at-55-years-old-financially-and-mentally.html#storylink=cpy. For confidential support call the Samaritans in the UK on 08457 90 90 90, visit a local Samaritans branch or see www.samaritans.org for details. In the U.S. call the National Suicide Prevention Line on 1-800-273-8255.

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You are retiring at 55, a relatively early age by corporate standards. Was this a calculated decision rooted in a financial plan?

Was early retirement always a goal, or did it evolve?

As a CEO of a mutual fund company, you had deep knowledge of markets—why did you still choose to work with a financial adviser?

What surprised you the most about the financial planning process when you became the client? Did a planner uncover any blind spots in your financial behaviour, despite your own professional expertise?

Can you share one key advice your financial planner gave you that made a difference?

Were there moments when your professional knowledge conflicted with your adviser’s recommendations, and how did you handle those situations?

What habits or disciplines helped you the most in building long-term wealth?

How did you prepare your family for this transition—financially and mentally?

What does the next decade look like for you? Are there new passions you’re exploring?

If you could go back to your 40-yearold self, what financial or life advice would you give?

How do you think retirement—and financial independence—will look different for the next generation of leaders?

How do you define “enough”—and does that evolve over time?

Looking back, which decisions or strategies are you most proud of, and which would you approach differently today?

PGIM evolved into a respected fund house after the DHFL crisis. How did you manage the ups and downs?

At 55, CEO of India’s 25th largest mutual fund house PGIM, Ajit Menon is walking away from a successful career managing Rs.26,693 crore in assets—not because he has to, but because he planned to. His secret weapon? A 12-year partnership with a financial adviser helped map his path to early retirement . Here’s why even seasoned market veterans need someone to dispassionately do their wealth planning.Yes. I am simply following our family’s financial plan, which we began with our adviser about 12 years ago. I now want to focus more on retail brand building and retirement, while making time for family and personal interests.It evolved.Health and wealth are two areas where we tend to be emotionally invested. Surgeons are not allowed to operate on near and dear ones for the risk of making an error due to being emotionally invested. Similarly, you could make errors of judgment in managing your own money, regardless of how skilled you are. That’s why working with a trusted, qualified adviser is often the wiser choice.Yes. Selecting the proper health and life insurance solutions, factoring in commute time in our buy-versus-rent decision, and providing for pension for our long-time housekeeper from my wife’s income. More innovative use of credit card spending and using forex cards, optimising for tax, writing a comprehensive will, and all of these added tremendous value to feeling more confident.To consider what will keep us happy, not happier. That’s a comparison trap with no end. Setting expectations in a way that helps prevent our financial goal posts from shifting made a difference.Not in our case. When your adviser is dealing with hundreds of households that have similar hopes, dreams and challenges, that experience has practical applications that help sharpen solutions compared to conventional knowledge.Trusting the process of the financial plan. Keeping track of the oversized items on the budget. Not second-guessing product choices allocated for each goal. Letting equity investments compound without interruptions.My wife, Alinaa, has been involved in the process, as her income is allocated across various goals. My brother and my adviser are the executors and witnesses to our will. My parents are aware of the details of my financial plan and are pleased that I will have time away from my busy schedule.Yes. From helping a local community around a farm land we own to pursuing my creative passions, there is much to do.You should have appointed your adviser earlier. Use the top-up SIP (systematic investment plan). Read more. Meet more people.The next generation prioritises health significantly better than the previous one. That’s the first step to being sorted on most challenges, including financial ones.It does, but the first step of budgeting is key. Aiming for happiness, rather than being overly happy, helps.I married my best friend. She is my most significant support. In hindsight, the best strategy. Having a good adviser is a close second. And I would guard against concentration, in real estate or equity.We focused on transparency, clear differentiation, and knowing what not to do. Our launches are built for the long term—and all are growing. Talented colleagues and a work culture that values diverse opinions and flexibility helped immensely.

Source: Economictimes.indiatimes.com | View original article

Source: https://economictimes.indiatimes.com/wealth/plan/early-retirement-how-financial-planning-helped-this-seasoned-market-veteran-retire-early-at-55/articleshow/122917922.cms

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