Yogendra Ji is my favorite client. Not because he pays fees on time (he does), but because I’ve personally learned a lot about life from him.
Since this section of wiseNRI is more about life than finance, I asked him to be my guest for our first interview.
Listen to it here. I’m sure you’ll enjoy the conversation. Do drop a line in the comments.
Here is a summary of the discussion, by Vidya.
Mr. Yogendra Sharma was an NRI who lived and worked in Singapore for several years, before returning to India primarily because his parents were aging and he wanted to be closer to family. Hemant spoke with him about the parts of life that sit outside finance too.
Hemant opened the conversation with a shloka that’s stayed with him: “Asato ma sadgamaya, Tamaso ma jyotirgamaya”, meaning “Lead me from untruth to truth, lead me from darkness to light.” This has been a guiding thought throughout his own life.
Check: Financial Planning for NRI, How It’s Different
On Happiness
Mr. Yogendra feels that happiness shifts with age. In his 20s and 30s, it came from travel and a dream job. By his 40s, it had become more about living close to family, staying healthy, and feeling spiritually grounded.
On the Biggest Mistakes NRIs Should Avoid
He believes financial literacy is genuinely lacking among Indians. While in Singapore, he had access to investment instruments from across the world, and found himself excited and drawn in by that access.
He invested in several expensive, complex products from companies like Zurich, only to realize the returns never matched what he needed to actually fund retirement, because the cost of the investment itself was so high.
When he eventually exited those funds, he had to pay 30-35% of his investment value as exit charges.
Read: Investment Plans for NRI in India
“NRIs should be very cautious and think through every aspect before getting into complex products.” – Mr. Yogendra
His Son’s College Decision
He has one son, who knew clearly what he wanted: to become a diplomat, join the UN, or work in foreign policy research. Studying abroad was genuinely an option, and money wasn’t the constraint.
Mr. Yogendra shared: “We realized that the courses abroad didn’t have anything comprehensive about India.”
So his son joined O.P. Jindal Global University to study Global Affairs instead. They’ve been genuinely happy with the decision, both the course quality and the faculty.
Read: Steps for Planning to Retire in India
On Buying or Renting a House Outside India
He explained: “In India, there’s a huge gap between property cost and rent. The house I live in would rent for around Rs 60,000 a month. But the EMI for a loan to actually own that house would run around Rs 3,00,000 a month. In Singapore, by contrast, the rent was SGD 4,000, and the EMI to own the same property would have been around SGD 4,200.”
When he first moved to Singapore, real estate prices were high, but the financial crisis brought them down by nearly 40%, and loans were available at 0.85% interest. That’s when he bought.
He also planned his exit carefully. As soon as he decided to return to India, he put the house up for sale and went back to renting, which made the whole transition smooth.
The Pattern Worth Noticing
Mr. Yogendra’s biggest financial regret (the complex offshore product) and his smartest financial move (selling the Singapore house before, not after, deciding to move) share the same underlying discipline: knowing your exit before you commit. It’s a theme worth sitting with, whether the decision in front of you is an investment or a property.
On Choosing a Financial Planner
He went through Hemant’s blog and testimonials before reaching out, and was struck by the depth of the questions on the financial data sheet, and the quality of the advice that followed.
He’s felt comfortable in every discussion since. Five years in, that quality has held steady. He doesn’t feel products being pushed on him. The advice, in his experience, has stayed independent and genuinely in his interest.
On His Interest in Spirituality
His grandfather was a priest, and his family carried a real spiritual thread through it. He’s read extensively on India and Hindu culture, and came to see Indian scriptures as genuinely scientific in their own way.
He realized he needed the right teacher for real enlightenment and spiritual growth, and found that in a meaningful session with his Guru.
Must Read: What Should I Know About Studying Abroad?
He came to understand concepts like Sthul Sharir, Karan Sharir, and Sukshma Sharir, the gross, causal, and subtle bodies, through that process.
In one such session, he was the only person among 70 attendees without a home loan, car loan, or credit card debt. He was told this reflects a balance between masculine and feminine energy, achieved when spouses align on lifestyle, and shaped by meditation, diet, thought patterns, and the people around you. It’s a genuinely Indian concept, and yet, ironically, one many of us have grown unfamiliar with.
His Advice to NRIs
Mr. Yogendra’s closing thought: nobody really teaches us how to treat money well. Financial literacy deserves a real place in our lives, and investing in a genuinely good financial planner is part of managing that well.
Hope this conversation helps you make wiser decisions, and lifts your own happiness quotient along the way. Share your thoughts in the comments.
Already had a bad experience investing in Zurich Investment product which eroded the value significantly. This complex product was marketed as a banca assurance product, (disguised as a simple product) by Citi Bank N.A. NRI dept Dubai. Though stated as a guaranteed product verbally, never given in writing, and then backed out advising to liaise with Zurich Life Dubai directly.
Hi Ajay,
Sorry to hear about this but there’s a huge push for such complex & expensive products to NRIs.
Dear Mr Yogendra,
Loved your interview & experience that you shared, I can totally relate to this.
I was also pushed to buy expensive investment related policy from PRUDENTIAL in DUBAI.