Watching various ads for insurance and mutual funds makes me think that when we were young, we had limited options to save.
Our lives revolved around our PF accounts and LIC. Off course they were the only options available. UTI in its erstwhile form was the third option. There were off course community based saving options or postal schemes etc. Today there's a plethora of choice. Be it Mutual funds, insurance, health insuarnce, name it and there are multiple options open to people.
Our lives revolved around our PF accounts and LIC. Off course they were the only options available. UTI in its erstwhile form was the third option. There were off course community based saving options or postal schemes etc. Today there's a plethora of choice. Be it Mutual funds, insurance, health insuarnce, name it and there are multiple options open to people.
Today in my sixties, I realise that had I planned our finances well, we would not be in a vulnerable situation today. Today when my sons talk of retirement calculators, financial planning etc. I am happy for them that they can choose the best suited product at an early age. After all financial independence is the key to happiness in old age.
Whether its my friends or relatives or from what i observe, whosoever is financially independent, is living a happy life. Because its a burden to be dependent on your children or other family members. After all most family problems start with money! With timely planning one can secure one's future and live comfortably.
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