An excellent profession / business to do now is the financial planning business. Of course some people call it a profession too. Why am I saying this? Simply because we are in the very early stages of the profession. It is like being in the banking business in the 1900s, in the mutual fund business […]
Let us start at the beginning….what is Libertarian Paternalism? Well it is a subtle way of making people towards rational choices. For example when a person joins for employment the employment form includes an AUTO sign up for an index fund. Say NPS to the extent of 3% of basic salary. The employer also contributes […]
“The government issues a half baked scheme and expects people to buy it?” This is exactly what a person who had a choice told me. He was talking about the NPS. Many people have hailed it as a great scheme. I have serious misgivings. The debt instruments that the NPS buys are not indexed. So […]
Mumbai has a peculiar problem- exhorbidant real estate prices. However this does not mean economics is at work. I would know of many people who live far, far beyond their means. How does this happen? Well their parents are cash-flow poor, but asset rich. The children are asset poor, but have some cash flow. Take […]
If at a later date dictionary the word ‘inefficient’ is associated with personal finance, remember you read it here first. This post was triggered by a visit to a friend’s house last week. To be fair to him he had been calling me for a few months and I found the willingness only now. He […]