Muthukrishnan Dhandapani, a Chennai-based mutual fund distributor and Rahul Gandhi’s investment advisor, has advised people to be financially prudent and build a three-year emergency fund, saying that he foresees potentially difficult economic conditions ahead.
Dhandapani had once described himself as “a strong Modi supporter from 2014 to 2024. The Nifty 50 closed at 22,716.20, down 64.05 points or 0.28 per cent, while the BSE Sensex ended at 72,529.07, declining 242.65 points or 0.33 per cent. He ended his post on a hopeful note, claiming that tough times are not the end of the world. (Also read: Man hits ₹ 15 lakh in savings, but feels guilty watching parents economise: ‘I just feel guilty and depressed’ )
Besides advising people to build an emergency fund for three years, Dhandapani further said that everyone should avoid taking on new loans. Don’t take on long term commitments like real estate or a house purchase,” he said. Now is the time to focus on ensuring income,” said Rahul Gandhi’s mutual fund advisor in his X post.
In his latest post, however, he wrote: “I’ve been cautioning for the last two years about some of the possibilities I saw coming. “Don’t borrow. No fresh loans. His post came on a day when stock markets fell for the second day straight. Dhandapani further advised his followers to not be too particular about jobs. At a time when major companies are carrying out layoffs, he suggested that having a job and an assured income is more important than what role and what position. “Don’t be too specific about jobs and roles.
Predicting difficult economic times ahead—ableit with the disclaimer that he is no Nostradamus—Dhandapani advised his followers to save aggressively. (Also read: Rahul Gandhi’s response to his BJP-supporting investment advisor goes viral: ‘Your political views are your own but…’ ) In an X post shared on Tuesday, the Chennai-based finance professional wrote: “Try your level best to create a safe reserve or emergency corpus that can cover three years of your family’s complete expenses.
It’s what he sees that the rest of us aren’t being told,” an X user wondered. (Also read: Income ₹ 1.7 lakh a month, savings just ₹ 2,520: Couple living paycheck to paycheck seeks financial advice )
It will see them in future too,” said Dhandapani, adding that his financial advice was meant to help people weather tough financial situations. “No disrespect to your intention, but do you know how difficult it is for middle class people to have 3 months of reserve corpus, forget 3 years,” wrote one person in the comments section. I wonder how people are queuing to buy latest iPhone in these times,” another said.
“It’s not that the sky is going to fall. The world has faced such crises in the past. “Good times will definitely be back in the future. Such is the nature of cycles,” he concluded. His post drew mixed reactions on the social media platform. “True Sir! Backup savings is absolutely needed. “When a seasoned investor is talking like this after two miserable years for Indian equities, perhaps the interesting question isn’t whether he’s being too cautious.
