How this Hindi scholar is channeling his savings into charity

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"Blessed is the wealth that is spent in charity for greater good. Fortunate is the intellect that is immersed in virtue," says Ram Mohan Pandey, quoting a couplet from a poem composed by Hindu saint Tulsidas, in explaining his commitment to charity. Pandey, an 86-year-old retired Banaras Hindu University (BHU) professor with a doctorate in Hindi, donates 6-10% of his investment corpus to charity every year, in keeping with the spiritual ethos of Banaras.

Pandey firmly believes in giving back to society, recalling his own education at BHU in the 1960s when university fees were significantly lower. Pandey, who retired more than two decades ago and now relies on his pension and mutual fund (MF) systematic withdrawal plans (SWPs), admits that he did not feel the need to commit to any serious investments for a long time after retirement. Using his retirement benefits, a significant contribution from his son who was working abroad and a small loan, Pandey bought a large house in Banaras in 2000.

He retired from BHU the same year but continued to live in a rented accommodation on the campus for two more years until his house was ready to move in. That house, built on a sprawling 5,000 sq. ft plot of land, formed a major chunk of his net worth then.

Pandey says that instead of receiving a large provident fund corpus, he secured a good pension upon retirement. The pension provided a steady and reliable income stream, helping him meet household expenses. Additionally, the produce from Pandey’s ancestral land took care of most of the family's food expenses.

Local farmers manage this land and in return share their harvest with him. Pandey’s investment journey began only after he sold off his house in 2019. The reason for selling