How Mutual Funds And A Good Advisor Helped Tackle Two Years Of Job Loss
Losing a job can be devastating, but financial discipline and the right guidance can make all the difference. For Ghate, who was laid off in 2023 and remained unemployed for nearly two years, his years of mutual fund investments and the support of a Registered Investment Adviser (RIA) became his financial and emotional lifeline.
From Anxiety to Job Loss
Ghate’s financial adviser, Harsh Roongta, founder of Fee Only Investment Advisers LLP, first noticed his growing anxiety during a Zoom call. 'I was diagnosed with high blood pressure, had panic attacks, and had to see a psychologist and take medications to calm myself,' said Ghate. His stress stemmed from watching colleagues being laid off one after another during the pandemic years.
At the time, he worked in Singapore at a company that organised MMA fights and large-scale events. The pandemic hit the industry hard, with travel restrictions and cancelled tournaments halting the firm’s revenue. Initially, Ghate accepted a 30% pay cut, but the situation worsened, leading to his termination in May 2023. Living in an expensive city like Singapore soon became unsustainable, prompting him to sell his furniture and relocate.
How Mutual Funds Helped Him Survive
Despite the setback, Ghate was financially prepared. Over the previous decade, he had systematically invested in mutual funds, gradually increasing his contributions from ₹20,000 a month to nearly 50% of his salary. 'The mutual fund portfolio I had built over the past 10 years helped,' he explained. This disciplined approach allowed him to navigate almost two years of unemployment without financial distress.
Inspired by a manager who invested stock windfalls into mutual funds, Ghate initially invested in two schemes. Later, with guidance from his RIA, he diversified across six to seven funds, including debt, international, and gold funds, creating a more balanced portfolio.
The Value of a Financial Adviser
Even without a regular salary, Ghate continued paying his adviser ₹24,000 a month. “Having an investment advisor by my side also helped," he said. 'He acted as a sounding board during my gloomy days, and it helped to know that I had someone accountable on my side.'
Roongta not only guided Ghate’s investment strategy but also advised on broader financial matters such as insurance cover, converting his NRI account, and even helping with the purchase of a home during unemployment. Ghate withdrew ₹60 lakh from his portfolio for the down payment, but thanks to market gains, he recovered 70% of the cost by the time the renovation was complete.
Living Frugally and Planning Ahead
During unemployment, Ghate supported himself with part-time teaching and freelance gigs while maintaining a frugal lifestyle . 'I still drive a Nano. I realised the importance of leading a frugal lifestyle and spending only on the things that matter,' he said.
Though he had to sell some mutual funds to pay for his mother’s medical expenses, his long-term investments remained largely intact. The experience reinforced his belief in disciplined investing, prudent spending, and the importance of expert advice.
Reflecting on his journey, Ghate said: 'Why should I bind myself to my own intelligence when I can take help from experts like Roongta?' Today, as vice-president of UX design at an AI startup in Gurugram, he continues to invest half his salary in SIPs to remain prepared for the future.
From Anxiety to Job Loss
Ghate’s financial adviser, Harsh Roongta, founder of Fee Only Investment Advisers LLP, first noticed his growing anxiety during a Zoom call. 'I was diagnosed with high blood pressure, had panic attacks, and had to see a psychologist and take medications to calm myself,' said Ghate. His stress stemmed from watching colleagues being laid off one after another during the pandemic years.
At the time, he worked in Singapore at a company that organised MMA fights and large-scale events. The pandemic hit the industry hard, with travel restrictions and cancelled tournaments halting the firm’s revenue. Initially, Ghate accepted a 30% pay cut, but the situation worsened, leading to his termination in May 2023. Living in an expensive city like Singapore soon became unsustainable, prompting him to sell his furniture and relocate.
How Mutual Funds Helped Him Survive
Despite the setback, Ghate was financially prepared. Over the previous decade, he had systematically invested in mutual funds, gradually increasing his contributions from ₹20,000 a month to nearly 50% of his salary. 'The mutual fund portfolio I had built over the past 10 years helped,' he explained. This disciplined approach allowed him to navigate almost two years of unemployment without financial distress.
Inspired by a manager who invested stock windfalls into mutual funds, Ghate initially invested in two schemes. Later, with guidance from his RIA, he diversified across six to seven funds, including debt, international, and gold funds, creating a more balanced portfolio.
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The Value of a Financial Adviser
Even without a regular salary, Ghate continued paying his adviser ₹24,000 a month. “Having an investment advisor by my side also helped," he said. 'He acted as a sounding board during my gloomy days, and it helped to know that I had someone accountable on my side.'
Roongta not only guided Ghate’s investment strategy but also advised on broader financial matters such as insurance cover, converting his NRI account, and even helping with the purchase of a home during unemployment. Ghate withdrew ₹60 lakh from his portfolio for the down payment, but thanks to market gains, he recovered 70% of the cost by the time the renovation was complete.
Living Frugally and Planning Ahead
During unemployment, Ghate supported himself with part-time teaching and freelance gigs while maintaining a frugal lifestyle . 'I still drive a Nano. I realised the importance of leading a frugal lifestyle and spending only on the things that matter,' he said.
Though he had to sell some mutual funds to pay for his mother’s medical expenses, his long-term investments remained largely intact. The experience reinforced his belief in disciplined investing, prudent spending, and the importance of expert advice.
Reflecting on his journey, Ghate said: 'Why should I bind myself to my own intelligence when I can take help from experts like Roongta?' Today, as vice-president of UX design at an AI startup in Gurugram, he continues to invest half his salary in SIPs to remain prepared for the future.
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