Dev Patel

Financial Advisor @1financehq views are personal |
Gujarat 🏀 |

I live with an ambition to serve society & humanity with moral & entrepreneurial means

[Dev Patel @devpatelx6]

🧵 1 Finance Magazine- Issue 10 is out; covering:
🔹 Retirement Readiness Survey
🔹 Credit Card Savings Gap
🔹 SEBI's Feb'26 Circular
🔹 GIFT City Investing Manual
🔹 Value of Advice
🔹 Blockchain & Land Records
🔹 Investable Commercial RE
and more...👇

@1FinanceHQ

[Animesh Hardia @hardia_animesh]

3 in 4 Indians close to retirement have no detailed plan.

61% feel confident they'll retire comfortably anyway.

The March 2026 edition (issue 10) of 1 Finance Magazine is out. The lead story sits in that gap.

Retirement confidence without a plan is just optimism.

Here's the flavour of what we uncovered:

- Our Retirement Readiness Survey asked 1,218 respondents across more than 20 Indian cities. 82% call healthcare their biggest retirement worry. Even at incomes >₹25 lakh, only 35% use a professional financial advisor. And 84% still don't have a will.

- We tested what personalised financial advice is actually worth. The answer: between 1.5% and 3% of net portfolio value every year. That's 11 to 20 times the fee paid. Behavioural coaching beat every other advisory action in every household we studied.

- For Indians wanting global exposure, we built the missing manual on GIFT City.

- Indian commercial real estate hit 80 million sq ft of leasing in 2025. Global Capability Centres now drive 38% of office demand. For the first time, domestic capital outpaced foreign.

- 66% of civil cases in India are land disputes. We examined how blockchain could free the billions stuck in India's broken property records.

- On credit cards, the average Indian captures about 4% of annual spending through rewards. The right card stack can take that to 10%. 92% of cardholders are leaving the difference on the table.

Two long-form interviews this issue:
- @duavarun, Founder of @ACKOIndia Insurance.
- @ashish343, Co-Founder of @CoinSwitch and Lemonn.

Two guest columns:
- @dhirendra_vr of @ValueResearch on the long-term math of mutual fund costs.
- @himanshupandya1 on why hyper-personalisation is the wealth manager's last great alpha in the age of AI.

Contextualising perspectives across the research:
- Retirement: @ravisaraogi of @team_samasthiti, Abhishek Kumar of @sahajmoneyindia and @SanaSecurities.
- Value of advice: @RajanSoumya of Waterfield Advisors.
- GIFT City: @ActusDei of @thefynprint.
- Commercial real estate: @dalipsehgal2 of Nexus Select Trust and Shiv Parekh of hBits.
- Blockchain in land records: Raj Kapoor of @IndBlockchain.
- Credit card optimisation: @tejasghongadi of @ThePointsCode and @Perfi_X.

Plus our Macroeconomic Outlook on the shifting world order, and Product Featured Lists across 9 categories.

Save this for your next client planning conversation.

If you're a financial advisor or you work in BFSI or fintech and care about evidence-backed, behaviour-aware advice, I'd love for you to join our waitlist for future editions (direct link is in the next comment).

Tagging the team and contributors who made this issue possible:

@1FinanceHQ @AakashRachh Arman Qureshi Chetan Kate @devpatelx6 Mohd Faisal Shaikh @IshikaNarvekar @Jasdhamecha @BahlKanan @manju_dhake Manish Gholam Manuj Puri @mashru_purvang @Rajanitandale1 Sanya Agarwal Studio Paperheads

[Dev Patel @devpatelx6]

Where are the International Investment friends today?
♦️SOUTH KOREA's KOSPI down 6.9% wiping out $345 BILLION
♦️TAIWAN's stock market down 4% erasing $198 BILLION
♦️JAPAN's NIKKEI down 2.4% erasing $206 BILLION

Understand the risk associated with it before jumping on the wagon.
Semiconductor stocks have been hot over a period of time and the price returns have been in double/triple digits. But what about the earnings? Earnings haven't been great to justify the Price.

Regardless how much you curse India and the Indian Stock Market not having AI/Semiconductor companies; the one's in global stock markets are not having earnings to justify the overhyped prices. Meanwhile India has diversified businesses which are doing very well in terms of the earnings, and the price will catchup soon since they have a 98% correlation.

Please do not just bend over to social media narratives without knowing 'why' is someone promoting something. Everyone is incentivised in the wrong way, be it commissions or the likes/views/followers etc.

Get in touch with a Qualified Financial Advisor who can guide you unbiasedly and recommend you financial products only if they suit your behaviour, lifestage, and financial milestones🙏

[Dev Patel @devpatelx6]

🇹🇼Taiwan's stock market gained 25.7% in 2025. It's up another 48% so far in 2026. Three consecutive years of 20%+ returns before this year's run, and now a YTD number that makes every other emerging market look like it's standing still.

Taiwan does look like a winner. Until you look at what's underneath the number👇

♦️This is really a one-stock market. TSMC, the world's largest chip foundry, accounts for roughly 43% of the entire TAIEX.

♦️In 2025, TSMC contributed an estimated 3,813 points to the index's advance. The rest of Taiwan, all 1,000-odd listed companies combined, barely moved.

♦️The TWSE now trades at a P/E of 30x against a historical median closer to 17x. Its PEG ratio sits at 3.9, which means you're paying nearly four times over for every unit of earnings growth.

♦️On a global valuation map, only 3 markets out of the entire world currently sit in the "Overvalued" zone. Taiwan is one of them, alongside Sweden and Thailand. And nearly all of that premium is one company's bet on AI infrastructure spending continuing at the current pace.

♦️Taiwan's semiconductor exporters earn in USD and report in TWD. Every 1% appreciation in the Taiwan dollar shaves 0.4 to 1.5 percentage points off gross margins for companies like TSMC, UMC, and ASE Tech.

♦️In 2022, when the Fed hiked rates and the dollar strengthened, the TWSE fell 22.4% while the TWD weakened over 7.5% against the USD. Capital outflows and margin compression hit at the same time.

Read the entire Blog on Emerging Markets and their Outlook & Risks for 2026: https://t.co/00rroUCxEF

[1 Finance @1FinanceHQ]

https://t.co/XRTjN1TOe8

[Dev Patel @devpatelx6]

@WilliamsF1 AI has created new roles...
The New Role: Official Thinking Partner

Fascinating times..

[Dev Patel @devpatelx6]

RBI and Ministry of Information and Broadcasting should penalize all the media houses who publish fake news or propaganda against India. Bloomberg and Reuters are one of the top ones.

Even the legacy media houses are spreading fake news without sources just for the Views & TRP?

[Kanan Bahl @BahlKanan]

RBI clarifies that its physical stock of gold holdings remains unchanged at 880.52 tonnes.

Before spreading misinformation, influencers and politicians could've checked RBI's weekly statistical supplement and waited for June 5th for its revised update.

[Dev Patel @devpatelx6]

Most of the Wealth Management businesses in India are disguised. It's just a Mutual Fund Distribution business under the veil.

If you are seeking for such Financial Services, do make sure that the company is a SEBI RIA and not an AMFI registered.

Incentive changes the advisory

[Sonia Shenoy @_soniashenoy]

Today , the Godrej Group announced their entry into the wealth management space with the launch of Godrej Wealth

I sat down with Pirojsha Godrej and Manish Shah, MD & CEO of Godrej Capital to understand the reason behind this foray

The Godrej group is very bullish on the financial services sector in India and within the space, they are particularly optimistic on wealth management and lending.

within financial services, they expect the wealth management company Godrej Wealth to hit an AUM of 1 lakh crore by 2031

the target for both lending + wealth management is 2 lakh crore in AUM by 2031

The group sees financial services as the fastest growing piece of the Godrej Group pie

Pirojsha spoke about financial services forming 10% of the overall group business by 2031

when asked on listing the business he said, before march 2031, they will list the financial services business

They will launch Godrej Wealth in 8 cities first and then move to 35 cities over the next few years.

[Dev Patel @devpatelx6]

Request for a copy here: https://t.co/Ze0ZSgFiVC

[Dev Patel @devpatelx6]

Finance is deeply rooted with emotions and behaviour which drives our daily habits, the decisions we make. The math done on excel sheet is secondary.

Emotional Money talks about aligning your financial decisions with your emotions.

Thankyou for the book @hardia_animesh 🫡

[Animesh Hardia @hardia_animesh]

Most financial advice today tells you to take the emotion out of your money.

After 12 years in finance, I've never once seen it work.

[Dev Patel @devpatelx6]

It doesn't matter if you're not good at it, as long as you're good at not giving up on it

[Dev Patel @devpatelx6]

Two years ago, nobody was telling you to buy Taiwanese and Korean chipmakers. They were right there the whole time. Then AI happened, those stocks took off, and now half your feed is telling you to go global. This happens every single time.

Nifty 500 has outperformed Developed and Emerging Markets in the last 5yrs.
Diversification is important because in the last couple of years, country specific markets have boomed, but were they yelling about it before it happened?

[Dev Patel @devpatelx6]

@kimmonismus beginning of the end...

[Dev Patel @devpatelx6]

@vijayshekhar Has anyone calculated the dollar amount that India and Indians pay to American AI Frontier labs to use their subscriptions and api tokens?

If it had a number, I am sure everyone would be blaming the Indian tech sector for rupee depreciation.

[Dev Patel @devpatelx6]

@aravind similar things will happen during monsoons- govt will be blamed for water logging and poor drainage systems.

[Dev Patel @devpatelx6]

@OfficialLoganK "you can outsource your thinking, but you can’t outsource your understanding"

is this the same for the LLMs?

[Dev Patel @devpatelx6]

@deepakshenoy https://t.co/JuEAns7Zt7

[Dev Patel @devpatelx6]

🇹🇼Taiwan's stock market gained 25.7% in 2025. It's up another 48% so far in 2026. Three consecutive years of 20%+ returns before this year's run, and now a YTD number that makes every other emerging market look like it's standing still.

Taiwan does look like a winner. Until you look at what's underneath the number👇

♦️This is really a one-stock market. TSMC, the world's largest chip foundry, accounts for roughly 43% of the entire TAIEX.

♦️In 2025, TSMC contributed an estimated 3,813 points to the index's advance. The rest of Taiwan, all 1,000-odd listed companies combined, barely moved.

♦️The TWSE now trades at a P/E of 30x against a historical median closer to 17x. Its PEG ratio sits at 3.9, which means you're paying nearly four times over for every unit of earnings growth.

♦️On a global valuation map, only 3 markets out of the entire world currently sit in the "Overvalued" zone. Taiwan is one of them, alongside Sweden and Thailand. And nearly all of that premium is one company's bet on AI infrastructure spending continuing at the current pace.

♦️Taiwan's semiconductor exporters earn in USD and report in TWD. Every 1% appreciation in the Taiwan dollar shaves 0.4 to 1.5 percentage points off gross margins for companies like TSMC, UMC, and ASE Tech.

♦️In 2022, when the Fed hiked rates and the dollar strengthened, the TWSE fell 22.4% while the TWD weakened over 7.5% against the USD. Capital outflows and margin compression hit at the same time.

Read the entire Blog on Emerging Markets and their Outlook & Risks for 2026: https://t.co/00rroUCxEF

[Dev Patel @devpatelx6]

@aravind Read about Taiwan's Outlook and Risks associated with Taiwan.👇

[Dev Patel @devpatelx6]

🇹🇼Taiwan's stock market gained 25.7% in 2025. It's up another 48% so far in 2026. Three consecutive years of 20%+ returns before this year's run, and now a YTD number that makes every other emerging market look like it's standing still.

Taiwan does look like a winner. Until you look at what's underneath the number👇

♦️This is really a one-stock market. TSMC, the world's largest chip foundry, accounts for roughly 43% of the entire TAIEX.

♦️In 2025, TSMC contributed an estimated 3,813 points to the index's advance. The rest of Taiwan, all 1,000-odd listed companies combined, barely moved.

♦️The TWSE now trades at a P/E of 30x against a historical median closer to 17x. Its PEG ratio sits at 3.9, which means you're paying nearly four times over for every unit of earnings growth.

♦️On a global valuation map, only 3 markets out of the entire world currently sit in the "Overvalued" zone. Taiwan is one of them, alongside Sweden and Thailand. And nearly all of that premium is one company's bet on AI infrastructure spending continuing at the current pace.

♦️Taiwan's semiconductor exporters earn in USD and report in TWD. Every 1% appreciation in the Taiwan dollar shaves 0.4 to 1.5 percentage points off gross margins for companies like TSMC, UMC, and ASE Tech.

♦️In 2022, when the Fed hiked rates and the dollar strengthened, the TWSE fell 22.4% while the TWD weakened over 7.5% against the USD. Capital outflows and margin compression hit at the same time.

Read the entire Blog on Emerging Markets and their Outlook & Risks for 2026: https://t.co/00rroUCxEF

[Dev Patel @devpatelx6]

@zerodhamarkets https://t.co/JuEAns7Zt7

[Dev Patel @devpatelx6]

🇹🇼Taiwan's stock market gained 25.7% in 2025. It's up another 48% so far in 2026. Three consecutive years of 20%+ returns before this year's run, and now a YTD number that makes every other emerging market look like it's standing still.

Taiwan does look like a winner. Until you look at what's underneath the number👇

♦️This is really a one-stock market. TSMC, the world's largest chip foundry, accounts for roughly 43% of the entire TAIEX.

♦️In 2025, TSMC contributed an estimated 3,813 points to the index's advance. The rest of Taiwan, all 1,000-odd listed companies combined, barely moved.

♦️The TWSE now trades at a P/E of 30x against a historical median closer to 17x. Its PEG ratio sits at 3.9, which means you're paying nearly four times over for every unit of earnings growth.

♦️On a global valuation map, only 3 markets out of the entire world currently sit in the "Overvalued" zone. Taiwan is one of them, alongside Sweden and Thailand. And nearly all of that premium is one company's bet on AI infrastructure spending continuing at the current pace.

♦️Taiwan's semiconductor exporters earn in USD and report in TWD. Every 1% appreciation in the Taiwan dollar shaves 0.4 to 1.5 percentage points off gross margins for companies like TSMC, UMC, and ASE Tech.

♦️In 2022, when the Fed hiked rates and the dollar strengthened, the TWSE fell 22.4% while the TWD weakened over 7.5% against the USD. Capital outflows and margin compression hit at the same time.

Read the entire Blog on Emerging Markets and their Outlook & Risks for 2026: https://t.co/00rroUCxEF

[Dev Patel @devpatelx6]

🇹🇼Taiwan's stock market gained 25.7% in 2025. It's up another 48% so far in 2026. Three consecutive years of 20%+ returns before this year's run, and now a YTD number that makes every other emerging market look like it's standing still.

Taiwan does look like a winner. Until you look at what's underneath the number👇

♦️This is really a one-stock market. TSMC, the world's largest chip foundry, accounts for roughly 43% of the entire TAIEX.

♦️In 2025, TSMC contributed an estimated 3,813 points to the index's advance. The rest of Taiwan, all 1,000-odd listed companies combined, barely moved.

♦️The TWSE now trades at a P/E of 30x against a historical median closer to 17x. Its PEG ratio sits at 3.9, which means you're paying nearly four times over for every unit of earnings growth.

♦️On a global valuation map, only 3 markets out of the entire world currently sit in the "Overvalued" zone. Taiwan is one of them, alongside Sweden and Thailand. And nearly all of that premium is one company's bet on AI infrastructure spending continuing at the current pace.

♦️Taiwan's semiconductor exporters earn in USD and report in TWD. Every 1% appreciation in the Taiwan dollar shaves 0.4 to 1.5 percentage points off gross margins for companies like TSMC, UMC, and ASE Tech.

♦️In 2022, when the Fed hiked rates and the dollar strengthened, the TWSE fell 22.4% while the TWD weakened over 7.5% against the USD. Capital outflows and margin compression hit at the same time.

Read the entire Blog on Emerging Markets and their Outlook & Risks for 2026: https://t.co/00rroUCxEF

[Dev Patel @devpatelx6]

One operational note.
PFRDA hasn't activated these rules yet. The circular says they take effect from a date to be notified, after system capabilities are built.....🪡

[Dev Patel @devpatelx6]

🧵PFRDA just changed how you take money out of NPS at retirement. Circular dated 15 May 2026.

The 40% mandatory annuity stays.
The other 60% no longer has to come out as a lumpsum. It can stay invested, paying you monthly till age 85.

Here's what changed 👇

[Dev Patel @devpatelx6]

[12] This framework is PFRDA admitting the lumpsum path was failing retirees.

Most Indians don't have the financial planning culture or advisor density to safely manage a 60-lakh-plus retirement corpus throughout retirement.

The system is being redesigned around that reality.