Oscar award winning Sound Designer, Resul Pookutty who shot to fame with the award he received for Slumdog Millionaire, is also a successful businessman. He owns a recording studio in Mumbai and may be having other business plans too. But when it comes to investing he is quite clear and conventional- nothing to do with stock markets!
In a chat with Sreekumar Raghavan of Corporate Ethos, Resul Pookutty outlines his views on personal finance and wealth.
#How do you invest your savings and are you happy with the returns you get?
I invest in Systemic Investment Plans (SIP) of mutual funds, long term deposits with banks and ofcourse Life Insurance Corporation (LIC).
#You don’t invest in stocks?
I don’t trade in stocks as I don’t understand anything about it. I have no clue how it works!
#What about other conventional investments- gold and real estate?
As in true of every family in India, we do have our savings in Gold as it is one of the most liquid assets around. It helps in your immediate fulfilment or cash requirement. Every woman in that sense is a walking bank for the family!
#What is your greatest asset?
#What about material possessions-car, house..?
Yes, I have a flat in Mumbai and a Mercedes Benz but they can’t be above my greatest assets.
#Who takes financial decisions in your family- yourself or wife?
Myself. I have an advisor also.
#Have your attitude to money changed once you became a celebrity?
No, I never cared for it! It comes and goes! Yes, the requirement has gone up over the years.
#What gives you more happiness-wealth or fame?
Both not! I love simple things in life. We were conditioned at Film and Television Institute (FTII) not to seek fame or money. We want to be good artistes, genuine human beings and our first love is Cinema. To do justice to it, that’s our life line and ultimate love.
#In times of crises in life or career whom do you turn to?
My investments. Even three months ago I had to tap my resources.
#Do your children see money and wealth differently compared to how you did in childhood?
They have no clue about it. But they know the value of money, they work during their vacation and earn money. My 9- year old daughter earned $82 during her vacation which she used for her personal shopping when we went to US in February, so was my son. She bought her favorrite toy from Toys R US.
#If you were to start a business outside films, what it would be?
I would have been a scientist or Chief Justice of India (He was studying for LLB in Government Law College, Trivandrum, when he got admission in second attempt for Sound Engineering at FTII, Pune). But I have a dream of setting up a school in Kochi.
# How different would it be?
It would be a unique school. I want every child to be a sovereign and also develop their creative talents. Grow with utmost confidence and without fear. I am looking for good investors to back the project.