There's No Age For Investment
Outlook Money|February 2021
A 93-year-old Army General changes his traditional outlook and starts investing in different asset classes to reap robust returns
Rowthri Sivashanmugam

Joseph Bhaskar Iswariah, 93, a celebrated retired Major General of the Indian Army, is settled in Coimbatore. With years of experience, Iswariah has been investing mostly in traditional fixed-income products. While serving the Army, his finance team would help him with his tax compliance and investment decisions. After retirement, he was living on his pension, which was taking care of his monthly expenses. He did not take much interest in financial matters. When Rowthri Sivashanmugam of RP Investment Services met him, Iswariah’s investment portfolio largely comprised of bank deposits, unsecured Non-Convertible Debentures (NCDs), and high-risk Portfolio Management Services (PMS). With regular fixed income products, Iswariah had a healthy tax bill every year.

Sivashanmugam had several rounds of interactions with Iswariah, which helped her understand his financial needs better. It was evident that Iswariah’s needs were limited. His investments were supposed to be passed on to the next generation - his son, two daughters, and the grandchildren. However, his tax payments were reducing the effective returns on his investments. It was important to devise a suitable strategy to grow the existing investment portfolio. Iswariah was worried about his high tax outgo. To address these concerns, the tax incidence on existing investments was reviewed and switched to more tax-efficient options.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM OUTLOOK MONEYView All

Wage Redefined, Pay Reduced

Introduction of the new wage code from April 1 is likely to affect take-home salary for employees across public and private sectors but ensure a better retirement package

5 mins read
Outlook Money
April 2021

‘Invest Across A Wide Spectrum'

Actor Masumeh Makhija believes in diversity when it comes to planning her investments

3 mins read
Outlook Money
April 2021

SEIZE THE DAY, MY FRIEND!

It’s always, earlier the better, when it comes to planning for the time after you hang up your boots. It’s a longterm proposition and is often tangled with a host of duties and dreams. Saving from an early life smoothens the job but a late-starter is certainly not a no-getter.

10+ mins read
Outlook Money
April 2021

Riding The Time Machine

Covid-19 has battered non-banking financiers, assets are in the throes of defaults, yet they have proved their resilience time and again, and crossed the bar. NBFCs – which throw the lifeline to the base of the pyramid – are fixed firmly on the ground with their unmatched ability to evolve into indispensability for the Indian economy

5 mins read
Outlook Money
April 2021

Lower Rate A Business Booster In Hard Times

Home loan interest rates have reduced over the last few months – at a time when the entire world went through one of the toughest phases. The economies have just begun reviving. A lower interest rate is the need of the hour to support the nascent resurgence in the Indian economy, says SBI Chairman Dinesh Khara in an interaction with Outlook Money. Excerpts from the interview:

4 mins read
Outlook Money
April 2021

Life Cover For Lives In The Lurch

Insurance regulator has issued a diktat for life insurance policies to cover transgenders but insurers see very few takers and buyers find the products too costly, too complex

6 mins read
Outlook Money
April 2021

It's Ease Of Doing Investments

Sebi plans to introduce regulatory-light regime with the debut of Accredited Investors in the Indian securities markets. The regulator faces a host of challenges to counter risks of investor frauds

7 mins read
Outlook Money
April 2021

Bank On Banks For The Nest Boom

BFSI stocks proved to be the best bet when everything went into a tailspin. A reviving economy pumps enough fuel in them to drive your funds to higher orbits

5 mins read
Outlook Money
April 2021

Always Invert To Get It Straight

Fill up your emergency bucket, house your interests in the investment bucket, and save in your dream bucket

5 mins read
Outlook Money
April 2021

Post Office Savings Schemes Banking On The Age

A higher risk appetite for faster and heftier returns divides India into two sections of investors. The seniors still trust the good-old Post Office Saving Schemes, while the juniors rush for new-age investment instruments.

10+ mins read
Outlook Money
April 2021