“But Subra Sir I do not want to put my money in Mutual Funds’
Er, Why May I ask?
Sir Mutual funds are subject to market risks…..don’t you see the ads?
Well: What about bank fixed deposits?
No, no, Sir just tell me ‘are MFs subject to market risks…
Well, yes, but
No Sir. I cannot afford to take risks.
Well, so what will you do?
Keep it in a bank FD. It feels so safe.
Conversation number 2:
Why do you not ride a bike?
It is so risky! You could get killed by one of these cars…or trucks.
Me: How much did you get as Interest credit on you SB account?
Friend: Rs. 56,000.
Me: That means an average balance of Rs. 28,00,000 in your SB account.
Friend: God! but it feels so safe.
I am not sure whether I am a risk taking gambler or am I surrounded by people who think that they are not taking any risk! Clearly their ability to understand risk is close to zero.
I bike even at 5am, run on the road at 5am with low visibility (I wear reflective vest, but a drunk driver can completely miss me till I scream, death). I keep my money in risky assets. I live in a rented house (OMG he cannot STILL afford a house?), …what other risky things do I do?
- I use a small car (sadly in India there are no stats but generally riding a big car with seat belts while sitting in the back seat is the least probability of dying. It helps if it is a Merc S class or a high end Skoda, not one of the Jap toys!!).
I travel public transport – OMG I could be hit by a bomb, right?
Sadly the people who think I am taking risks, have no clue how much risk they are taking.
What risks are they taking:
Keeping money in a SB account: Inflation.
Big car, big house: confusing between Convenience and Freedom
Higher expenses: Voluntary serfdom.
their idea of safety seems to some kind of an illusion. Is it called Myopia by any chance?……….
well….lets be friends, sorry!!!
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