fiscal yogi

Where Finance and Philosophy come together


About me

My name is Anees Rao. I am a Certified Financial Planner (CFP), and I enjoy writing and talking about personal finance. I also practise yoga regularly, and love reading fantasy and crime novels. 

Please check out my podcast!

Latest stories

FiscalYogi Podcast Episode 8

Listen to Anees talk about all the important stuff on Term Insurance – How it works, how much cover do you need, and how it differs from regular insurance products. And a unique insight on how term insurance is like a reverse lottery! 
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Show Notes:

FiscalYogi Podcast episode 6


Emergency funds is not a topic that a lot of personal finance blogs will cover, but it is an essential building block in your financial life. Listen to Anees Rao talk about why you need emergency funds, how much should you have, and how to make a fund for yourself.

Tweet us @fiscalyogi, or write to us at with your feedback, comments and suggestions for future episodes!

You can listen here:


How to think of a mutual fund


For many years, I struggled to visualize just what exactly is a mutual fund in my head. Until one day, I had this eureka moment:

When you buy a mutual fund, you are basically saying,

” I have this small pot of money. I have decided that I want to invest it in equity (say), but I don’t know which companies I should be buying. So the next best way is to hire someone to do it for me!”

And that’s basically it! You choose a fund manager, give him some money, and he’s off! You can track how much your money is worth everyday, if you should want to. He’ll give your money back to you on any working day. And best of all, he’s not going to call you up and ask you your opinion of this company or that sector, he’s going to make the decision on your behalf.

As with all good things, nothing comes free. He’s going to charge you his salary, and take it out of the fund itself. There’s a flipside to this as well: he’s going to market this fund to other investors like you, and all of you are going to chip in with the expenses of running the fund.

So that’s how I conceptualize mutual funds in my head! Hope it helped you!

Who was the first goal based financial planner?




You wouldn’t have thought that, would you?

Do you ask what is the proper limit to wealth?

It is, first, to have what is necessary, and, second, to have what is enough.

 – Seneca

Seneca was probably the first one to talk about goal based investing. If you desire “wealth beyond measure”, there is no limit to it. You may be the richest person in your street, but there’s someone on the next who’s richer. If you beat him, there’s still someone else. And so it goes. 
How do you turn this unbeatable situation on its head? By saying that you aren’t really competing with anyone else, and all you want to do is fund your own goals. Once you do that, you start coming closer to Seneca in his thoughts. 
Another wise man said 
“Wit beyond measure is man’s greatest treasure”
Not wealth, but wit.

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