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Economic Times
2 hours ago
- Business
- Economic Times
Early retirement: How financial planning helped this seasoned market veteran retire early at 55
ET Bureau Ajit Menon, CEO of India's 25th largest mutual fund house PGIM At 55, CEO of India's 25th largest mutual fund house PGIM, Ajit Menon is walking away from a successful career managing Rs.26,693 crore in assets—not because he has to, but because he planned to. His secret weapon? A 12-year partnership with a financial adviser helped map his path to early retirement. Here's why even seasoned market veterans need someone to dispassionately do their wealth planning. Yes. I am simply following our family's financial plan, which we began with our adviser about 12 years ago. I now want to focus more on retail brand building and retirement, while making time for family and personal interests. Was early retirement always a goal, or did it evolve? It evolved. As a CEO of a mutual fund company, you had deep knowledge of markets—why did you still choose to work with a financial adviser? Health and wealth are two areas where we tend to be emotionally invested. Surgeons are not allowed to operate on near and dear ones for the risk of making an error due to being emotionally invested. Similarly, you could make errors of judgment in managing your own money, regardless of how skilled you are. That's why working with a trusted, qualified adviser is often the wiser choice. What surprised you the most about the financial planning process when you became the client? Did a planner uncover any blind spots in your financial behaviour, despite your own professional expertise? Yes. Selecting the proper health and life insurance solutions, factoring in commute time in our buy-versus-rent decision, and providing for pension for our long-time housekeeper from my wife's income. More innovative use of credit card spending and using forex cards, optimising for tax, writing a comprehensive will, and all of these added tremendous value to feeling more confident. Can you share one key advice your financial planner gave you that made a difference? To consider what will keep us happy, not happier. That's a comparison trap with no end. Setting expectations in a way that helps prevent our financial goal posts from shifting made a difference. Were there moments when your professional knowledge conflicted with your adviser's recommendations, and how did you handle those situations? Not in our case. When your adviser is dealing with hundreds of households that have similar hopes, dreams and challenges, that experience has practical applications that help sharpen solutions compared to conventional knowledge. What habits or disciplines helped you the most in building long-term wealth? Trusting the process of the financial plan. Keeping track of the oversized items on the budget. Not second-guessing product choices allocated for each goal. Letting equity investments compound without interruptions. How did you prepare your family for this transition—financially and mentally? My wife, Alinaa, has been involved in the process, as her income is allocated across various goals. My brother and my adviser are the executors and witnesses to our will. My parents are aware of the details of my financial plan and are pleased that I will have time away from my busy schedule. What does the next decade look like for you? Are there new passions you're exploring? Yes. From helping a local community around a farm land we own to pursuing my creative passions, there is much to do. If you could go back to your 40-yearold self, what financial or life advice would you give? You should have appointed your adviser earlier. Use the top-up SIP (systematic investment plan). Read more. Meet more people. How do you think retirement—and financial independence—will look different for the next generation of leaders? The next generation prioritises health significantly better than the previous one. That's the first step to being sorted on most challenges, including financial ones. How do you define 'enough'—and does that evolve over time? It does, but the first step of budgeting is key. Aiming for happiness, rather than being overly happy, helps. Looking back, which decisions or strategies are you most proud of, and which would you approach differently today? I married my best friend. She is my most significant support. In hindsight, the best strategy. Having a good adviser is a close second. And I would guard against concentration, in real estate or equity. PGIM evolved into a respected fund house after the DHFL crisis. How did you manage the ups and downs? We focused on transparency, clear differentiation, and knowing what not to do. Our launches are built for the long term—and all are growing. Talented colleagues and a work culture that values diverse opinions and flexibility helped immensely. No trending terms available.
Daily Maverick
14 hours ago
- Business
- Daily Maverick
Binance Pay expansion powers a new era of customer spending in South Africa
Binance, the world's largest cryptocurrency exchange by volume, is bringing crypto payments into the South African mainstream through its secure, borderless payments platform, Binance Pay. In a new integration with Peach Payments and MoneyBadger, South Africans can now pay for goods and services using 100+ stablecoins and other cryptocurrencies at leading online merchants instantly and without gas fees, just as easily as paying with cards or EFT. 'Crypto has matured and now it's ready to stand alongside traditional payments', said Larry Cooke, of Binance Africa. 'This is a breakthrough moment for stablecoins and crypto in Africa, powered by infrastructure that makes them usable, practical, and secure.' Paying with crypto is simple and seamless for customers. They select 'Pay with Bitcoin or Crypto' at checkout, select 'Binance', scan the QR code with their Binance app, confirm the amount, and the payment is processed instantly. Merchants receive settlement in Rands the next business day, making it as convenient as traditional payment methods. This integration is powered in part by MoneyBadger, which processed 19,536 transactions to the value of R7,771,432.17 in the first half of 2025, compared to 13,338 transactions to the value of R5,693,173.1 in the first half of 2024. The Online Retail in South Africa 2023 report has revealed critical insights into the rapidly evolving digital commerce landscape. Online shopping among adults grew from 27% in 2020 to 38% in 2022, reflecting an accelerated shift to digital platforms and highlighting the market's resilience and adaptability. As mobile wallets and pay-by-bank options gain trust, crypto and stablecoins are emerging as part of this new wave of innovation. Carel van Wyk, MoneyBadger co-founder and CEO, says Peach Payments is a natural fit for crypto payments due to its innovative approach and commitment to technical excellence. 'South Africans are increasingly moving from holding crypto as an investment vehicle to using their crypto for day-to-day expenses. We've been looking for additional partners to expand into the ecommerce space, and Peach Payments made the most sense for us as a business. Their merchant base is strong and open to adding different payment methods.' Says Peach Payments' head of partnerships Anine de Kock, 'MoneyBadger is well-respected and established locally, and offers payments via the majority of crypto wallets, which means more choice for consumers. 'It is telling,' she continues, 'that the first purchases done via MoneyBadger on the Peach Payments platform were for spades at a suburban hardware store and light fittings at a well-known specialist lighting retailer, illustrating how mainstream crypto payments are becoming.' Built directly into Binance, Binance Pay processes transactions instantly and securely, supporting over 100 cryptocurrencies across 32,000+ merchants worldwide. Since launch, it has processed over $230 billion in payments across more than 300 million transactions, making it one of the most trusted global crypto payment platforms. 'This isn't a trial or pilot, it is proven infrastructure tested globally, now expanding in Africa,' added Cooke. DM
Time of India
2 days ago
- Business
- Time of India
Early retirement: How financial planning helped this seasoned market veteran retire early at 55
At 55, CEO of India's 25th largest mutual fund house PGIM, Ajit Menon is walking away from a successful career managing Rs.26,693 crore in assets—not because he has to, but because he planned to. His secret weapon? A 12-year partnership with a financial adviser helped map his path to early retirement . Here's why even seasoned market veterans need someone to dispassionately do their wealth planning. You are retiring at 55, a relatively early age by corporate standards. Was this a calculated decision rooted in a financial plan? Yes. I am simply following our family's financial plan, which we began with our adviser about 12 years ago. I now want to focus more on retail brand building and retirement, while making time for family and personal interests. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM MCA Data Science MBA Data Science Digital Marketing Technology Others Operations Management Public Policy CXO Design Thinking Cybersecurity Degree Product Management Data Analytics Healthcare healthcare Leadership Management Finance Project Management Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Was early retirement always a goal, or did it evolve? It evolved. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » As a CEO of a mutual fund company, you had deep knowledge of markets—why did you still choose to work with a financial adviser? Health and wealth are two areas where we tend to be emotionally invested. Surgeons are not allowed to operate on near and dear ones for the risk of making an error due to being emotionally invested. Similarly, you could make errors of judgment in managing your own money, regardless of how skilled you are. That's why working with a trusted, qualified adviser is often the wiser choice. What surprised you the most about the financial planning process when you became the client? Did a planner uncover any blind spots in your financial behaviour, despite your own professional expertise? Yes. Selecting the proper health and life insurance solutions, factoring in commute time in our buy-versus-rent decision, and providing for pension for our long-time housekeeper from my wife's income. More innovative use of credit card spending and using forex cards, optimising for tax, writing a comprehensive will, and all of these added tremendous value to feeling more confident. Can you share one key advice your financial planner gave you that made a difference? To consider what will keep us happy, not happier. That's a comparison trap with no end. Setting expectations in a way that helps prevent our financial goal posts from shifting made a difference. Were there moments when your professional knowledge conflicted with your adviser's recommendations, and how did you handle those situations? Not in our case. When your adviser is dealing with hundreds of households that have similar hopes, dreams and challenges, that experience has practical applications that help sharpen solutions compared to conventional knowledge. What habits or disciplines helped you the most in building long-term wealth? Trusting the process of the financial plan. Keeping track of the oversized items on the budget. Not second-guessing product choices allocated for each goal. Letting equity investments compound without interruptions. How did you prepare your family for this transition—financially and mentally? My wife, Alinaa, has been involved in the process, as her income is allocated across various goals. My brother and my adviser are the executors and witnesses to our will. My parents are aware of the details of my financial plan and are pleased that I will have time away from my busy schedule. What does the next decade look like for you? Are there new passions you're exploring? Yes. From helping a local community around a farm land we own to pursuing my creative passions, there is much to do. If you could go back to your 40-yearold self, what financial or life advice would you give? You should have appointed your adviser earlier. Use the top-up SIP (systematic investment plan). Read more. Meet more people. How do you think retirement—and financial independence—will look different for the next generation of leaders? The next generation prioritises health significantly better than the previous one. That's the first step to being sorted on most challenges, including financial ones. How do you define 'enough'—and does that evolve over time? It does, but the first step of budgeting is key. Aiming for happiness, rather than being overly happy, helps. Looking back, which decisions or strategies are you most proud of, and which would you approach differently today? I married my best friend. She is my most significant support. In hindsight, the best strategy. Having a good adviser is a close second. And I would guard against concentration, in real estate or equity. PGIM evolved into a respected fund house after the DHFL crisis. How did you manage the ups and downs? We focused on transparency, clear differentiation, and knowing what not to do. Our launches are built for the long term—and all are growing. Talented colleagues and a work culture that values diverse opinions and flexibility helped immensely.
GMA Network
15-06-2025
- General
- GMA Network
No winners of major lotto draws as Ultra Lotto 6/58 jackpot hits P125.6 million
There were no winners of either of the major lotto jackpots offered by the Philippine Charity Sweepstakes Office (PCSO) on Sunday, June 15, 2025. No bettor chose the winning combination of 28-52-43-50-02-18 for the Ultra Lotto 6/58 jackpot, which has risen to P125,693,094.00. There was also no winning bettor for the Superlotto 6/49 prize of P72,198,130.00, with nobody choosing the winning numbers 35-32-19-14-12-43. Click here for the complete lotto results for Sunday, June 15, 2025. — BM, GMA Integrated News
Time of India
04-06-2025
- Time of India
4 lakh traffic challans issued in Chandigarh in just 5 months
1 2 3 Chandigarh: The UT traffic police issued close to 4 lakh challans for almost 4.3 lakh violations from Jan 1 to May 31. These violations were detected through CCTV cameras installed under the Smart City project, manual enforcement, and images of violations uploaded by citizens on the traffic police's social media page. Despite several measures taken by the traffic police to reduce the number of unpaid challans, the pendency reached 20.29 lakh by May 31. In 2024, UT police had issued 10,15,518 challans, of which 7,53,932 remain unpaid by violators. Traffic police officials have warned that failure to pay pending challans could lead to the cancellation of both driving licences and vehicle registration certificates. Data reveals that 50% of the total challans issued in the city over the past five months were for red light jumping. Until May this year, the traffic police had issued 2,03,459 challans for this violation across various parts of the city. The information was provided by the traffic police department in response to an RTI application filed by social activist R K Garg. After red light violations, the highest number of challans were issued to motorists for driving beyond the permissible speed limits in the city. In the first five months of the year, the traffic police issued a total of 49,426 challans for over-speeding. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Transition to high growth career in business analytics BITS Pilani WILP Apply Now Undo Also, 51,666 challans were issued for violations related to stop lines and zebra crossings at various traffic light points across the city. The traffic police also issued 21,318 challans to auto-rickshaws, taxis, and buses for carrying more passengers than permitted under their registration certificates or permits until May 31. Also, the traffic police wing issued 4,734 challans to two-wheeler riders, including women drivers and female pillion riders, for not wearing helmets. Data shows that 742 women were challaned for not wearing headgear while riding as pillion passengers, while 1,035 women were fined for not wearing helmets while driving two-wheelers in the city. The traffic police also issued a total of 3,872 challans for wrong parking in various parts of the city. Also, 2,831 challans were issued for not wearing seat belts in cars. A total of 5,693 car drivers were fined for applying black films on vehicle windscreens, while 325 challans were issued for triple riding on two-wheelers. After issuing challans, the traffic police notify violators through SMS. In cases where the SMS is not received, motorists can check for pending challans on the official website of the Chandigarh Police. Fines can be paid at the Traffic Police Lines in Sector 29, or through courts and Lok Adalats.
