Two mutual fund agents had similar stories to tell. Am not sure whether other IFAs too have a similar story to tell, but here it is.. I F A grievances: 1. Clients are short term pleasure seekers: both the IFAs have been in the business for more than 10 years and have upwards of 500 […]
A lot of qualified planners have given the following advice to a few people who have written in to me..let me summarize a few of them for you: 1. Equity is risky, it has no place in your portfolio. I write so much about equity, I am sure my readers know how stupid this line […]
Many people have asked for a follow up on the 15L CTC story…. 1. A planner should plan, not pass value judgement on how the client should behave. 2. To me a guy attending to all temple functions and blowing money traveling to all the temples in India is just as stupid as the guy […]
‘I earn Rs. 15L CTC – and clearly I am overpaid. However I am not able to save a rupee – I have no idea where my money goes’ Can you believe this…if you are a middle class Indian? I found it a little amusing…but not difficult to believe. When I spoke to him, I […]
My wife unfortunately leaves a lot of money in her savings bank account…so she gets her RM calling her with the usual…’can I do something …’ type of calls. She has been irritated, bored, (scared too) to talk to her RM. So she did a smart thing – she went online and changed her telephone […]
The world knows that the most profitable business in the world (since Shylock’s times!). Banks have seriously huge margins – just see them borrowing at the bottom from absolutely lazy guys like me (SB a/c 4%) and lend it to absolutely lazy guys who do not even know how to borrow by lending at 25% […]
In my recent travels many people asked me… 1. Should I buy more gold? Experts are telling me it will give 25% return in one year. 2. I earned 20% return on a Non Convertible debenture…should I put more money in that? 3. I am 70 years of age – should I sell ALL my […]