By Bronwyn M Singh
Twenty-five-year-old Alish Ramgoolam is a focused young man who has chosen a career in the finance industry. He recently sat down with the Newcastle Express to chat about all things money and investments to inform the youth of what this career entails.
Newcastle Express (NE): How would you best describe yourself?
Alish Ramgoolam (AR): I am ambitious, charismatic and a very transparent person. I am willing to do almost anything to help people. With regard to transparency, especially in the work environment, I have nothing to hide and I am always available to my clients.
NE: Tell us more about your journey into the world of financial planning and where you studied.
AR: I studied in 2015 at the University of Johannesburg and completed my BCom finance degree in 2017. Then in 2018 I studied towards my Honours degree in Financial Planning and completed it in the same year. I decided on studying financial planning because I like helping people and I love investments. After completing my studies I began working at Total Financial Planners in 2019.
NE: What exactly is financial planning?
AR: It is establishing a step-by-step plan to guide a client through his or her life while working towards financial goals. It is about planning for the present and the future. You save now for the future which is retirement or purchasing a house while the present is taking care of your car or house and making sure that your family is taken care of. So what I do specifically is investment management which is basically local and offshore investments like your retirement annuities, tax-free savings account, direct offshore investments, normal unit trust investments and endowments. All this can be structured to have local and offshore exposure. I also do long-term and short-term insurance and healthcare.
NE: From what age should one begin to plan financially?
AR: There is no specific age to begin. Each person’s life goals and situations differ. If you are fortunate enough to have surplus money in these tough economic times then put it aside and invest in order to earn a higher interest which will build up over the years.
NE: What are your future plans now that you have your degree?
AR: I am now focused on building a client base and establishing myself in the career path that I have chosen. I also plan on studying towards my Certified Financial Planner designation. This will enable me to be part of the Financial Planning Institute.
NE: Where do you see yourself in five years’ time?
AR: I see myself as a recognised financial planner in the industry, hopefully internationally as well. I would also like to be a well- known community person.
NE: What financial tips can you offer the readers?
AR: Don’t be scared of risks, especially when approaching investments. The reason I say that is because calculated risks in the long run would generate much higher return than what you would see in the banks. So don’t be afraid of risks.
NE: What do you enjoy doing in your spare time?
AR: I love spending time with my friends and family as well as playing cricket and producing music. It helps me to destress.
NE: Favourite destination that you would like to visit?
AR: Probably New York because I would love to be there on New Year’s Eve and experience the Time Square Ball Drop Celebration. I would love to see what it’s like on Wall Street.
NE: Sneakers and jeans or fitted suit?
AR: Depends on the situation, but I am more of a sneaker and jeans type of person.
NE: If you could be anyone for a day, who would you be and why?
AR: I would like to be DJ Black Coffee. I have a passion for music, so I would like to experience what it would be like to travel and make people dance as well as have an opportunity to work with international artists.
NE: Words of advice for the youth as we gear up to celebrate National Youth Day?
AR: I know that at this age we don’t have everything figured out and that makes us very anxious, however, everything works out for the best. With hard work and consistency, anything is achievable, the sky is the limit. Keep on dreaming.
