Raghuram Rajan is an intelligent man and has a lot of integrity. He stays firm on what he says. The whole of the industry, finance ministry, why even the PMO might want a interest rate reduction. I agree, we need to reduce interest rates. Let us take the case of a 60 year old man […]
You are 48 years of age with 2 grown up children, and you have a huge demand on your money for vacations and for buying gadgets. How do you handle this? You could either do it ad hoc or create a system. Look at what a friend has done. Nice, brilliant system, and I like […]
It is now fashionable for everybody to talk about financial freedom. However not many people are actually ready for it. Being financially free means not having to care about what people think. Of your life, your house, your job, your business, your hobbies….as long as you are worried about what others think, you are still […]
If you are a small CA, doctor, dentist….you tend to develop a nice cosy relationship with your clients. The General Practitioner (GP) was the doctor of first call. He decided whether you needed a specialist, and when at what stage. However with corporates taking over finance and health you see the following.. Too much cost, […]
If you invested Rs. 1,00,000 in a bank fixed deposit which pays 8% p.a. before taxes, you will get Rs. 8,000 as interest and assume you pay 30% tax you will be left with Rs. 5600 at the end of the year. Assume further this amount is re-invested and earns 8% p.a. ….and the same […]
The biggest cheating in the Financial Services business is done by the Government of India. No I am not talking about Income tax. I am talking about LIC. The government runs LIC and to help LIC it created a section 80C. Most people have got addicted to this section and to this product. So people […]
One committee has just announced a few steps to reduce mis-selling..I have not read the full report, but was amused by one statement: The illegal practice of rebating should be punished harshly. Rebating: In this context it means as an agent selling life insurance / mutual fund i pass back a part of the commission […]