managing own money
No. This is not about managing your own money vs giving it to an IFa or putting in a PMS. This is about asking till what age should you manage your own money.
50? 80? 90?
there is evidence that from the age of 55 one loses one’s ability to handle complex matters. However you find a Warren Buffett managing it at 90 and Charlie Munger even later! Dev Anand made great movies in his younger days, but fumbled as he grew older.
We do not have any empirical evidence in India – we just do not do enough behavioral research anyway…so we have to go by what the US does…and think that more or less the same thing will happen in India..
So here it is..read on…