Long term thinking

So many people tell me, write to me…..saying ‘I agree we should do something about our retirement’ but rarely follow up on their words!

So many people in their late 20s and early 30s KNOW that they have to save, invest, etc for their own lives and their children’s lives. They read up good websites, magazines, etc. and know how to mouth platitudes but DO NOTHING. All their moneys will lie in a savings account, and sometimes, sometimes in a FD. Here again they may or may not pay taxes on the same – ‘i have kept only 50,000 in one bank so there is no TDS’. One girl who told me this is an MBA finance working in a private sector bank. She has sales targets too, but I doubt whether she achieves them!!

I guess it is just my personality which makes them come up to me and say the following:

-I am planning to start a SIP in an equity fund…………..which is the best fund?

-How much do you think I should save for my retirement? I have no clue how much I will need!

-I will come to you one day, I need to ask you for some advice regarding my father’s (change it to somebody!) retirement / investments….etc.

-I have opened a brokerage account and did a trade yesterday, I made Rs. 540 after paying for the brokerage, taxes, etc. I am thrilled, this is not bad. If I can make say 500 about 2-3 times a week, that will be nice.

Sadly what you THINK does not lead to results. What you DO does.


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2 Responses to “Long term thinking”

  1. Subra,

    I regularly read your articles and found very informative regarding Financial planning. Though this is not a stock advise forum, Can you please help us in getting the basics. How to identify good scripts for long term investment.

  2. Ya, every body is INVESTING in the flat which is only 30 MINS DRIVE FROM CITY OUTSKIRTS for their retirement 🙂

    Upto now I didn’t saw a single person (at least among my colleagues) who saves in FD’s. If anyone is doing it is only for the down payment of that flat 🙂

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