'Money can be earned but wealth has to be created'

Anshuman Kumar, 37, is a firm believer in the power of investing for a brighter future. "Thinking long term is the only sine qua non for equity investments but hardly anyone does that," starts a clear-minded Anshuman. A travel enthusiast and an avid reader of financial journals and books, he likes listening to and following great financial minds, including Warren Buffet and Charlie Munger. Among Indian financial icons, he follows Dhirendra Kumar, Prashant Jain, Sankaren Naren, Nilesh Shah, Raamdeo Agrawal and Feroz Aziz. Associated with Allahabad Bank in the clearing department in Ranchi, this alumnus of the prestigious Loyola School, Jamshedpur, is presently on leave because of some health issues. He lives with his mother, who is a teacher, wife, and his retired father. During his formative years, even though money was scarce, his parents fulfilled his demands. "Video games, Hero Ranger bicycle, robots, air guns, etc. I wanted it all," recalls Anshuman. However, coming from a middle-class family, or as he describes "neither poor, nor too rich, just at the sweet spot of financial well-being," he learnt some important financial lessons early. The learning Reminiscing his first money lesson, Anshuman says, "During my childhood, I used to get pocket money and I kept it with my grandmother. The best part was that I could withdraw small amounts from it anytime without worrying about losing my capital. But I never withdrew a large portion out of the fear that my capital might get eroded." From 2003 to 2009, he completed his bachelor's and master's in computer applications from Birla Institute of Technology, Ranchi. During his college days, he developed a keen interest in the financial world, especially mutual funds. Anshuman remembers, "I judiciously followed the stock market and used to track the NAVs of mutual funds in the business page of the newspaper." After passing the bank PO exam, he joined Allahabad Bank and then began his real-world understanding of finance. Recalling his second money lesson, Anshuman says, "I understand that the same amount of money has different levels of importance for different classes of people. For instance, Rs 500 may mean so much more to a daily wage earner than a wealthy businessman." Nevertheless, his third money lesson emerged as an important milestone. "Initially, during my job, I acted greedily in the stock market. I bought a few stocks, made money, lost money but in the process, I learnt that greed never helps and the stock market is a big equali

This article was originally published on June 28, 2021, and last updated on July 04, 2022.