My dad asked me, 'How should I invest ₹10 lakh?' I gave him AI instead — What happened next shocked me

Mint

2 days ago

It all started when I went home.
When I visited my home recently, my 60-year-old father surprised me with a question he asked non-chalantly.
'Beta, what should I do with the ₹ 10 lakh from my retirement funds?' he asked, with genuine uncertainty.
He had just received a lump sum from a matured LIC policy and some post-retirement benefits. Like many Indian retirees, he was contemplating investing all that into fixed deposits.
For context, fixed deposits continue to remain one of the most trusted investment avenues among senior citizens in India notwithstanding interest rates hovering below inflation. But something about the way he asked told me he was open to learning. Instead of telling him where to invest, I replied, 'Let me teach you something first—how to ask AI for financial advice.'
That decision changed everything.
We sat down together, and I introduced him to AI tools, walking him through how to ask finance-related questions in plain language.
At first, he was sceptical.
'Will this AI really understand what I need?'
'What if it gives the wrong advice?'
I reassured him that this wasn't about replacing human advisors—but about understanding options clearly, without jargon.
We started with a simple prompt:
'How should a 60-year-old retired Indian invest ₹ 10 lakh for monthly income and safety?'
Within seconds, he was staring at a well-structured, easy-to-understand answer that explained: Debt mutual funds vs fixed deposits
Monthly income plans
Emergency fund setup
Tax-saving strategies like ELSS and PPF
His eyes lit up.
Over the next few days, he began exploring more: 'What's the safest mutual fund for monthly income?'
'How to split investments for short-term and long-term needs?'
'How much return will I get monthly from ₹ 10 lakh?'
The best part? He asked these questions in Hindi, and the bot responded clearly.
He no longer felt awkward asking 'basic' questions.
There was no judgment. Only learning.
For most Indian parents, money matters are shrouded in silence. They grew up in an era where talking openly about wealth was considered bad taste—or worse, unsafe. For the first time, AI gave him a safe space to explore finances without feeling naive.
Encouraged by how simple AI made things, he started drafting an investment plan—on his own.
Here's the portfolio he built with the help of an AI tool:
Investment type
Amount ( ₹ )
Purpose
Debt Mutual Funds
4,00,000
Safer than FDs, with better returns
Conservative Hybrid Funds
3,00,000
Monthly payouts + long-term growth
Fixed Deposit (1-year)
2,00,000
Emergency fund
Sovereign Gold Bonds (SGB)
1,00,000
Long-term protection, inflation hedge
Total: ₹ 10,00,000 – diversified across risk profiles and maturity timelines.
He used to think 'mutual funds sahi hai' was just an ad slogan. Now, he understood why they're sahi.
Things got serious in Week 3.
He asked AI tool to help him build a Google Sheets tracker for his investments: Colour-coded sections
Monthly income calculations
Tax estimation formulas
Maturity date alerts
He even asked the AI: 'What is the tax on capital gains from hybrid mutual funds?'
'Should I invest more in liquid funds or ultra-short-term funds?'
'How much emergency money should I keep if I spend ₹ 20,000/month?'
Then came the moment that truly stunned me.
He opened YouTube and watched a video—recommended by the bot—about the difference between simple and compound interest.
This came as a surprise because the same man once assumed Excel was a computer virus. His portfolio had gained approximately ₹ 3,500 in short-term appreciation
3,500 in short-term appreciation He had automated a ₹ 10,000 per month withdrawal from the hybrid fund
10,000 per month withdrawal from the hybrid fund He reallocated ₹ 2 lakh from a low-interest savings account to a short-term debt fund
2 lakh from a low-interest savings account to a short-term debt fund He explained SIPs and inflation to my mother using a chart
And yes, he even started sharing investment tips in the family WhatsApp group—something I never expected.
And believe me, he is the same person who once refused to activate internet banking by giving the argument of koi paisa chura lega.
1. AI makes finance accessible: My dad received objective, actionable financial wisdom from AI technologies that I never received from advisors or CAs.
2. Curiosity overcomes age: He wasn't tech-savvy but curiosity empowered rigour and with every effort remembering being curious, inquisitive, and evolving. A degree cannot replicate that.
3. Emotional security > high returns: Returns were not the only factors. The first thing he had to know after retirement was how he would be able to restore his own self-belief, conviction, control, and dignity.
4. No one is too old for new tools: Too frequently, we dismiss older people as being incapable of engaging with current technologies. The fact is, they only need a reason and help.
Investment type
Amount invested
Monthly income
Lock-in period
Tax efficient?
Debt Funds
₹ 4,00,000
₹ 2,000 est.
Low
Yes
Hybrid Mutual Fund
₹ 3,00,000
₹ 3,000 est.
Moderate
Yes
FD (1-year)
₹ 2,00,000
₹ 1,100 est.
High
No
SGB
₹ 1,00,000
N/A
5+ years
Yes (tax-free)
Note: Returns are indicative and vary based on market performance and fund choice.
Sure. AI tools are designed to make it easy and provide clear descriptions for the various financial terms. With the right support, even the least experienced user could understand tax laws, tax returns, and how to plan a portfolio.
AI lays out tremendous benefits, but it shouldn't be a substitute for diligent research. AI works best for identifying potential, generating ideas, and prompting a better question. Always verify the final decision with a financial expert or trusted institution.
In general, a balanced portfolio could include: 40%–50% debt funds, or a conservative hybrid fund.
20%–30% in liquid funds or fixed deposits (FDs)
10–20% in long-term inflation hedges like gold (SGBs)10%–20% in gold (SGBs) as a hedge against inflation for the long term
A small, easy access emergency fund in savings or ultra-short-term money
Teaching my 60-year-old father to use AI for managing money wasn't just a finance experiment—it was a life lesson. He didn't just grow his wealth. He grew his confidence, independence, and understanding of a world that once felt out of reach.
So next time your parents ask for help with their finances, don't just tell them what to do. Give them tools, not advice. Because when they take control, they don't just manage money better—they redefine what's possible at any age.
Disclaimer: This article is for informational purposes only and not financial advice. Always consult a certified financial advisor before making investment decisions.