If you are from a middle class family in India, the topic of money is always complicated. It’s not “nice” to talk about money or “chase” wealth. We got most of our financial advise from our parents.
Our parents invested all their money in FD’s, RD’s, Chit funds. Anything they “put” in to mutual funds or LIC schemes didn’t really pan out for the most part. They advised you to save money and join RD’s and open FD’s.
So if you tell me that you are not interested in investing, I get it. Our dopamine infused brains are often bored if an Instagram-Reel goes too long without coming to the point.
You can tell me that you are not driven by money and there is more to life than that. And I raise my hands to you 🙌
I do not want to worry about money as well and that is why I invest. You put your money to work and let it make money for you, leaving you with time to do what you really care about.
- Your parents probably have pension schemes. How many of your friends have retirement pensions?
- Their FD’s probably earned 10% interest. You would be lucky to get 6% today. Pre-tax.
- Their PPF account consistently had 12% returns. That’s down to 7.1% today and is bound to go down.
And yet, many of them will have to financially depend on their children.
We don’t have many of these luxuries and if you do not want to work till you die, be open to the idea of investing your money.
While it might not be as exciting as your Instagram feed, in the end it will give you more time to chill.
While I have been trying to learn about personal finance and investment for the last few years, I never documented my notes. This is an attempt to do so. My only hope is to keep track of what I learned and pass on the spark to you.
I write from an Indian context. However I hope the underlying concepts transcends borders. I am not a financial expert, only a humble student.