As a financial trainer I train 22 – 35 year olds. Rarely would my class have people senior than this. However as a financial consultant and speaker at public gatherings, I do come across a lot of senior citizens and these are the issues that they face:

1. My son is in the Middle East and has invested in a PMS: the number of senior citizens who have invested their money or their children’s money in PMS is not funny. Now they have no clue about what is happening, no comparative data, they do not know how to move the shares from the PMS demat to their regular demat…it is quite shocking behaviour.

2. I will not demat my shares: Just too many people are still scared of dematting their shares. They feel more secure if their shares are lying with them. To me the greater worry is if somebody were to steal the distinctive numbers..and demat the duplicate (perhaps in connivance with some of the staff of the company) you will be in much greater shit.

3. I now do not need to learn new technology: There are people who cannot send or receive sms – and they may be just 60 years of age! Hey in this age of techonology,,,Then there are some who will not do net banking, ATM banking, etc. this is not practical at all!

4. Signing papers without understanding: If your son / daughter KNOWS AND UNDERSTANDS FINANCe and YOU TRUST HIM / HER even then you need to understand – there is a serious risk that you may outlive your ‘guide’.