How Does Money Enable To Fulfill Your Passion By Ronnie Lahiri, Film Producer

Ronnie was born in Nagaland, where his father (then in the army) was posted. He completed his schooling and graduation in Shillong. Since he wasn’t keen on a career in the army, medicine or engineering, he got a degree in hotel management. After working with the Holiday Inn for a few years, he quit and joined his friend Shoojit’s new ad company in Delhi. He felt at ease in this creative profession, where he didn’t have to stifle his personality to fit into the corporate mould: “You can be yourself here,” he saysThey did several ad campaigns, big and small, till a music video they did catapulted them into the big league. Their video for Shubha Mudgal’s ‘Mann ke Manjire’ won Screen’s Best Music Video award.“Feature films are art”, Ronnie says, “a medium for the message we want to convey through our stories, allowing us the creative freedom to hold a mirror up to society”.

Ronnie believes, “You need to find a balance between creative instinct and pragmatism” as to what will or will not work commercially. His process involves considerable research into potential audience response to a particular subject. For instance, he was told he was committing “professional hara-kiri” when they were making Vicky Donor. But he followed his gut after doing his due diligence and the movie was a hit.He’s not one to follow conventional wisdom about what works at the box office. Nor does he believe in milking a successful film by making sequel after sequel. Their work is decidedly “left of the mainstream”, he says - that’s their USP. They also believe in constantly re-inventing themselves. So, their next project after Vicky Donor was Madras Café with a completely different sort of storyline.He also gets projections about a film’s potential income, then tries to make it on a budget that’s less than the projected earnings, thus ensuring they’re shielded from major losses. He always operates on a worst-case scenario:

"You can’t pin your hopes on best-case scenarios. You have to be practical while running a business."

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"Ronnie takes creative risks with his films, but these are well thought-out, calculated risks. “I’m not foolhardy”, he says. So is the case with his finances. He’s conservative in terms of his investments. “Old school”

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}So he has bought land and real estate, which are more traditional forms of investment.

“I’m not market-savvy”, he admits. “I leave it to the experts.” He takes financial advice from people he’s known for a while, and whom he trusts. For instance, he consults his company CA, who obviously has the requisite knowledge and experience.”

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}His fund manager, whom he hired on the recommendation of a friend, handles his SIPs and other investments.All of the company’s projects are insured against losses in case a film shoot gets cancelled, as it often does, maybe because of a bandh, or unseasonal rain or snow. Their office space is insured as well, because they have a lot of valuable film stock on the premises. They feel responsible for the well-being of their entire staff and this insurance provides peace of mind because so many people’s livelihood depends on their company.Ronnie has LIC policies which give him a sense of security, for it’s a safety net for his family.Medical insurance is essential today, he feels, what with medical treatment becoming more and more expensive. Ailments are on the rise, and no matter how ‘clean’ your lifestyle is, he believes you’re bound to fall prey to some disease or the other. So, although the entire family is into fitness in a major way, and he himself eats healthy and runs and does functional training daily, it makes sense to him to have health insurance.“I have an aversion to interest”, he says, explaining why he’s reluctant to take loans. He confesses that he’s never had the compulsion to “own things (expensive cars, gadgets, etc.) right away.” He’d rather save up and buy the product later. The one thing he’s bought on loan is his flat in Mumbai, and even that was because his CA advised him to do so for tax purposes.“Money represents the ability to do what I want to for my family. It means providing the best for them - good food, good travel, security and comfort.” He gets a kick out of the fact that if he wants to watch a football game or catch a concert somewhere in Europe, he can. For him, these are the kind of things in which the value of money lies. In essence, the satisfaction of taking good care of his loved ones, and the freedom to indulge his heart’s desires.Growing up as an army kid, moving every three years, he learned to adjust to change - always a new city, new school, new friends. “Nothing was constant”, he reminisces. He also learned to “go for what makes me happy”, for who knows how long it may last. Perhaps that is when his philosophy about life and money took shape. “You work for today and live for today.” He’s not a believer of leaving savings and bequests for the next generation. “I don’t want to compromise on my living today for the next generation.”

He’s of the opinion that "people only realize their true potential when they make their own way in life. The only way they appreciate their parents’ struggle is if they themselves have to work for their money. Children shouldn’t have a sense of entitlement.”

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}So, after completing her education, he expects his daughter to join another company, learn the ropes and get some experience. At 16, she already knows how to budget and manage her own expenses; she’s been taught to respect money. At the same time, he would tell her, “Chase your passion, never money. Your passion will sustain you and eventually bring in the money.” He wants the younger generation to realise that there are no shortcuts to success and no substitute for hard work. It often takes people 20 years or more to attain a certain degree of success in their careers. It doesn’t happen overnight.A life lesson he’d like to impart to his daughter is “Live your life with no regrets. Don’t kill your desires trying to build assets for the next generation. Feed your desires, nurture them. They will fuel you to work hard to fulfil them.”“My desires include watching football games, going to the best clubs and concerts… that is why I started working, to earn enough to achieve all that. If you don’t have dreams, you won’t work hard enough to realise those dreams.”

• Money is the key to provide all kinds of comfort and luxury for the family. To earn this, one must make their own way in life, and there isn’t any shortcut to success. It is your financial decisions that would ensure a smooth livelihood for your family and yourself.
• Life Insurance One of the biggest necessities to ensure life long comfort for your family is to protect them financially always, which calls for Life insurance or a Term Insurance plan. Term plans would ensure that your family continues to live the same standard of living even in your absence.
• Health Insurance Although every member of your family looks fit and fine and is into fitness in a major way, having a Health Insurance in today’s date is imperative. A family health plan provides complete financial security to the family in case of any health ailments.
• To fulfil your passion and your dreams for you and your family build a diversified investment portfolio and enjoy superior returns on your investments in the long run.

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.