After 30+ years of investment in the stock market and making a fortune out of it, investor Ramesh Damani has now started building a durable portfolio to secure the financial future of his grandchildren, one of whom is just two-year-old. He revealed that his strategy is to build a portfolio of stocks with very stable dividend yields and also some long shorts.
“Together (with my son Ashok) we are trying to design a portfolio for my grandchildren so that they can enjoy the benefits of compounding that I have enjoyed. The earlier you start, the better off you are. We are really taking this advice too hard. The children are barely four- and two-year-olds, but I have started investing for them,” said Damani.
“Unfortunately, we cannot mention names but there are some companies that can either be a 10x or would not do anything at all,” he added.
According to Damani If you start now with small amounts, the money does not matter. You put in Rs 10 lakh, Rs 20 lakh, whatever amount you can afford for your grandchildren but if you do it correctly and if the money compounds over 30 years, by the time they reach college age or their marriage age, they should already have a substantial nest egg.