Are real estate and gold going to be passé? The answer is in the affirmative, if recent studies are anything to go by. According to Karvy Private Wealth report, over the next four years, FY21 to be precise, India’s total individual wealth is expected to touch 558 lakh crore, growing at a healthy 13% CAGR from 304 lakh crore in FY16. But what’s pertinent to note is that financial assets are expected to grow at a quicker pace of 14.73% CAGR, nearly doubling in five years to 341 lakh crore. This will be largely on account of the rather uninspiring performance of physical assets, primarily real estate, and the recent demonetisation move. Going ahead, equity is expected to be the most favoured asset class as investors slowly wean away from traditional investments.