‘Don’t be too specific about jobs’: Rahul Gandhi’s advisor says save aggressively, build 3-year emergency fund

Muthukrishnan Dhandapani has advised people to be financially prudent and build a three-year emergency fund.

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.

Muthukrishnan Dhandapani advised his followers to build a 3-year emergency fund

Dhandapani had once described himself as “a strong Modi supporter from 2014 to 2024.” In his latest post, however, he wrote: “I’ve been cautioning for the last two years about some of the possibilities I saw coming.”

Predicting difficult economic times ahead—ableit with the disclaimer that he is no Nostradamus—Dhandapani advised his followers to save aggressively.

Save, don’t borrow

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.”

Besides advising people to build an emergency fund for three years, Dhandapani further said that everyone should avoid taking on new loans.

“Don’t borrow. No fresh loans. Don’t take on long term commitments like real estate or a house purchase,” he said.

His post came on a day when stock markets fell for the second day straight. 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.

Advice on jobs

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. Now is the time to focus on ensuring income,” said Rahul Gandhi’s mutual fund advisor in his X post.

He ended his post on a hopeful note, claiming that tough times are not the end of the world.

“It’s not that the sky is going to fall. The world has faced such crises in the past. It will see them in future too,” said Dhandapani, adding that his financial advice was meant to help people weather tough financial situations.

“Good times will definitely be back in the future. Such is the nature of cycles,” he concluded.

Internet reacts

His post drew mixed reactions on the social media platform.

“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.

“True Sir! Backup savings is absolutely needed. I wonder how people are queuing to buy latest iPhone in these times,” another said.

“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. It’s what he sees that the rest of us aren’t being told,” an X user wondered.