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Ashutosh, multi-faceted and dynamic: entrepreneur and marathon runner, a former corporate professional who decided to chase his dreams.Ashutosh was born in Sangamner, a small town near Nashik. After getting his Engineering and MBA degrees, he moved to Pune. For the next few years, he worked for several well-known companies like IFB, Samsonite, and Flying Machine, before becoming the Director, South Asia Business at Luxxotica, an Italian company.
By any yardstick, Ashutosh was a success. But as one progresses in one’s personal and professional journey, one’s perspective on life changes. For Ashutosh, the paradigm shift occurred when he realised he needed to be continually challenged to be happy. That realization gave him the impetus to reinvent himself.“I had a super comfortable life, a job with a fantastic salary, but I was discontented.” Having achieved material success, he asked himself: What do you really want? He realized he wanted to create his own business. He knew it was a risk, but, he figured, so is everything else. He didn’t want to play it safe now and repent at 80.He eventually left his job at Luxxotica to launch his own company, American Vision.Around the time of this epiphany, Ashutosh’s life had settled into a familiar groove: good job, good house, good car, lots of disposable income. It was all about partying hard, too much food and drink, and not enough sleep. He says, “One morning I woke up to find I weighed 96 kg. Worried, my wife got me a gym membership.” That’s when he discovered his other passion: running.Running inspires Ashutosh to strive for continual improvement. “Running connects me to myself; it shows me my limits. It takes consistency and endurance to push past those limits.”
He believes running is like managing a business; both require you to set a target, make a plan to achieve it, then follow it diligently till you’re successful. “In business, the constraints are usually external. In running, the biggest battle is with your mind. How far are you willing to go to challenge yourself.”
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}He’s become much more disciplined now. He must eat right, hydrate, sleep well, train, and get into the right headspace to prepare for a run. Indulgences like eating out, a drink, or staying up late, need to be worked into his programme. This sometimes takes a toll on his family and social life. But it’s a sacrifice he makes willingly.As a result of his lifestyle change, the entire Vaidya clan is more health-conscious now. They eat 5-6 small meals a day,proteins in the morning, zero carbs at night, dinner by 7. Spending some time outdoors is mandatory. “I try to set a good example for my children. Kids never do what they’re told but they’ll observe you and emulate your behaviour.”Good habits and success are contagious, he believes. He wants to be the kind of boss who inspires his team by example. “Often people pick up my habits once they see the value in them.” he says.
Ashutosh’s increased focus on health and wellness coincided with a wish to safeguard his future, and he consequently developed better financial discipline. All EMIs are paid off and he has a decent amount set aside as back-up for all family expenses for the next 2-3 years.
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}.“I’ve become more sensible about finances ever since I began to run. In fact, all my investments, LIC policies, health insurance and term insurance were bought around that time,” he says.He bought some insurance 10 years ago. His research had revealed that there’s a substantial difference between the EMIs available for various policies. “To hedge my bets, I bought one with the highest EMI and one with the lowest.”His marathon mind-set is reflected in his views on investments as well. He believes one’s investments yield the best results over time. He says, “My investments are in FDs and MFs—the top 10 in their category. I don’t want quick returns; I’m looking at a 10year horizon. My personal money motto is that money needs ample time and patience to grow.”Like most lay people, Ashutosh gets frustrated with the fine print on financial schemes and avoids dealing with professional financial advisors in general.
“These so-called relationship managers change so often, there’s no time to build a relationship with them. Trust and money don’t grow overnight.”
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}That’s why he buys a financial product only if it’s recommended by someone he knows.He has an interesting analogy to sum up: “Every sportsperson needs a coach— someone who can magnify and maximize my strengths, while minimizing my weaknesses. I wish I had a financial coach. Someone who supports me long-term in my financial journey, alerting me to pitfalls as well as prizes along the way.”What does money represent to him?Ashutosh believes money is merely a means to an end. Alluding to the fact that everybody’s requirements from life differ, he says, “One man may need an expensive bed and fancy sheets to sleep well. Another may need only a chatai to have the soundest, most restorative sleep possible. Therefore, one must have clarity on the kind of life one wants.”Money, per se, is not his chief motivation. “I used to believe success meant getting a high salary. But now, I don’t want a 100 crore pay cheque — I want to be worth 100 crores.”Ashutosh’s final words of advice: “The marathon runner doesn’t think constantly about the 42 km he’s got to cover; instead he focuses on the 1km stretch in front of him…Keep setting and attaining small goals. Re-view and re-calibrate frequently. Cultivate patience. Keep your eye on the finish-line, and don’t stop till you reach it.”
Key Takeaways
Deciding what one needs in life is vital to understand one's requirement for money to meet the ends. To be able to meet the requirements, purchasing financial products from time to time is also necessary. And to help with the purchase decision one can consult a financial advisor who would guide through the financial journey.Primarily one needs to have insurance to safeguard the family in dire needs like health ailments or if the primary bread earner dies. So, having an uninterrupted financial flow can be assured only if a family is covered with health insurance and term insurance.Health insurance is a way to secure your savings, even when any member of the family is suffering from any serious health issues. Also, while term insurance lets the family continue pursuing their financial dreams even after the death of the primary bread earner.Next step is to allow the money to grow which is possible only after investing in different financial avenues. Be it safe investment with low returns or risky investment with higher returns, one must diversify their investment to fulfil their monetary dreams.Finally having a loan could help realise dreams like buying their own house, car or getting desired education with added tax benefits.
DISCLAIMER
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.