Chief Change Officer Podcast Episode #185: Gagan Sandhu - From Mechanical Engineer to Money Engineer

Host: Vince Chen
Guest: Gagan Sandhu
Release Date: February 18, 2025
Title: From Mechanical Engineer to Money Engineer—Mastering Career Pivots & Financial Freedom — Part Two

Introduction

In Episode #185 of the Chief Change Officer podcast, host Vince Chen engages in a compelling conversation with Gagan Sandhu, his MBA classmate from Chicago Booth. Gagan, an immigrant from India, transitioned from a mechanical engineering background to founding a fintech company aimed at empowering Gen Y and Z to achieve financial independence. This episode delves deep into the nuances of financial independence, career pivots, and the evolving landscape of financial influencers.

Guest Background

Gagan Sandhu shares his journey from a mechanical engineer to an entrepreneur in the fintech space. With over two decades in the United States, Gagan's experience spans academia and the corporate world, culminating in the creation of his fintech venture, Zillion. His mission is to simplify the path to financial independence for busy professionals and families.

Defining Financial Independence

Vince Chen initiates the discussion by challenging the conventional notion of financial independence, prompting Gagan to share his authentic perspective.

Gagan Sandhu [04:33]:
“For me, financial independence meant I could leave my corporate job and go work on my own and build something from scratch. When I was able to do that, I said, I am financially independent because I can do what I want with my time.”

Gagan emphasizes the importance of a personalized approach to financial independence, highlighting the need for meticulous financial planning and awareness of one's expenses and investments.

Gagan Sandhu [10:15]:
“We built tools within Zillion, and we actually call this tool Financial Independence Fit. So how fit you are or how when are you likely to hit financial independence.”

He critiques the oversimplification of financial independence often propagated online and underscores the necessity of understanding long-term financial requirements, including education costs and retirement savings.

Introducing Zillion: Simplifying Financial Planning

Gagan introduces Zillion, his fintech company designed to demystify financial planning through user-friendly tools.

Gagan Sandhu [14:44]:
“We made the math so easy and so visual and so easy to understand and grab and actually play with that. Now financial independence should seem like a tangible thing.”

Zillion offers a Financial Independence Fit tool that allows users to input their financial data and visualize their path to independence, taking into account variables like income growth, expenses, education costs, and inflation. This tool aims to make financial planning accessible and actionable for individuals who may not possess advanced financial literacy.

Vince Chen’s Perspective on Financial Independence

Contrasting Gagan's views, Vince Chen shares his skepticism about the concept of financial independence.

Vince Chen [14:44]:
“I believe as long as we have desires, we can never be truly financially independent because our decisions are influenced by our pursuit of these desires and the financial means to fulfill them.”

Vince advocates for a more present-focused approach to financial management, emphasizing the unpredictability of life and the importance of balancing financial planning with living authentically in the moment.

Synergy Between Perspectives

Gagan acknowledges Vince's viewpoint, highlighting how financial independence can facilitate living in the present by providing the freedom to pursue passions without the constraints of a paycheck.

Gagan Sandhu [18:05]:
“Financial independence let them pursue a passion and shape their today and their tomorrow, they are living in the present.”

This dialogue underscores the multifaceted nature of financial independence, balancing long-term planning with immediate life satisfaction.

The Role of Finfluencers in Financial Education

The conversation shifts to the rise of financial influencers ("finfluencers"), exploring their impact on financial literacy and decision-making.

Gagan Sandhu [28:53]:
“Influencers have always been there. They provide bite-size wisdom. I am in my own very small right. I am also a finfluencer.”

Gagan discusses the proliferation of finfluencers in the digital age, noting both their value in disseminating financial knowledge and the potential conflicts of interest arising from their affiliations with financial products. He emphasizes Zillion's commitment to authenticity by positioning the company itself as a trusted source of financial guidance rather than relying on external influencers.

Career Pivots and Navigating Ageism

Addressing the challenges of career transitions, especially amid ageism, Gagan provides practical advice for professionals facing layoffs or contemplating a career change later in life.

Gagan Sandhu [31:33]:
“A typical career, this is my reading, is about 10 years. Every 10 years or so, you need to rediscover your career.”

He advocates for continuous skill development, particularly in emerging technologies like AI, to remain relevant and adaptable in a rapidly evolving job market. Gagan also highlights the importance of hard work, smart work, and dedication as key factors in mitigating age-related biases.

Inclusive Hiring Practices

Vince probes into Gagan's approach to hiring, questioning whether age plays a role in recruitment decisions.

Gagan Sandhu [36:28]:
“I consider everyone and one of the things I learned early on in my career is to hire the best person for the job. If those skills are in a 23 year old or a 35 year old or a 47 year old doesn't make as much difference as what is the specific thing I'm looking for.”

Gagan reaffirms Zillion's commitment to skill-based hiring, ensuring that candidates of all ages are evaluated based on their expertise and ability to contribute to the company's goals.

Conclusion

The episode concludes with Vince expressing gratitude for Gagan's insights, highlighting the enriching nature of their conversation. Gagan reiterates his appreciation and the mutual respect from their long-standing relationship.

Vince Chen [37:49]:
“Gargan, I've really enjoyed our conversation today... I truly appreciate your time and all that you've shared with us.”

Listeners are encouraged to subscribe to the Chief Change Officer podcast for more transformative conversations aimed at fostering personal and professional growth.

Notable Quotes

1. Gagan Sandhu [04:33]:
   “For me, financial independence meant I could leave my corporate job and go work on my own and build something from scratch.”

2. Gagan Sandhu [14:44]:
   “We made the math so easy and so visual and so easy to understand and grab and actually play with that. Now financial independence should seem like a tangible thing.”

3. Vince Chen [14:44]:
   “I believe as long as we have desires, we can never be truly financially independent because our decisions are influenced by our pursuit of these desires and the financial means to fulfill them.”

4. Gagan Sandhu [28:53]:
   “Influencers have always been there. They provide bite-size wisdom. I am in my own very small right. I am also a finfluencer.”

5. Gagan Sandhu [31:33]:
   “A typical career, this is my reading, is about 10 years. Every 10 years or so, you need to rediscover your career.”

6. Gagan Sandhu [36:28]:
   “I consider everyone and one of the things I learned early on in my career is to hire the best person for the job.”

Final Thoughts

This episode provides a nuanced exploration of financial independence, emphasizing personalized financial strategies and the importance of continuous learning in career development. Gagan Sandhu's insights offer valuable guidance for professionals seeking to navigate financial planning and career transitions in today's dynamic environment.

Subscribe to Chief Change Officer:
Stay updated with transformative discussions by subscribing on LinkedIn, Apple Podcasts, Spotify, and YouTube.