There are many people I know who are contemplating retirement 5-15 years before they HAVE to retire. When I ask them WHY do they want to retire, these are the normal answers that I get: 1. Have enough money. However there are a few people who say they have ‘enough’. Then I calculate how much […]
Am doing this posting because a few journalists wanted me to talk about the Union Budget and the NPS. What a joke! There was NOTHING in the budget for the NPS at all. One cosmetic change is ‘on share purchases the NPS does not have to pay service tax’ – the impact at best can […]
Today we will se how the other (vociferous!) distributors will react: These are the smaller distributors who were getting 2% (atleast) to about 4% as marketing fee. However this money was coming from the client – and many clients did not know about it. However many distributors were giving all their ‘income’ back to the […]
When boys are young they are asked – When will you become a man? Sadly people think becoming a ‘Man’ is attaining a particular age. If that is so then all boys will become men. I think attaining maturity is the sign of a boy becoming a man. Here is a story of 3 young […]
If you are associated with financial services you know ‘misselling’ is a major problem. So I decided to see how much of misselling happens in other products and is it as damaging. The answer is a resounding yes. The financial services sector has regulators (RBI, SEBI, IRDA) who at least make some noises about misselling. […]
Making a will is simple? Making a `Will` seems to be a simple job; just download a Will, fill in the details and your Will is ready. Or so you think. What can go wrong? Scenario 1: One child depriving the other children of their rightful share: Especially if the other children did not know […]
I hope you are not looking for the ‘mea culpa’ message of Raju…of Satyam…this is different! I recently met the MD of a financial services company – obviously I am not naming him/her. It also does not matter whether it is a brokerage house, mutual fund, life insurance company, bank or a distribution house. So […]