Comments on: Financial education from Michael Jackson! http://lifestyles.co.in/finance/financial-education-from-michael-jackson Blogging Lifestyle Topics Like Health, Finance, Travel, Gadgets, Fashion, Living & more Mon, 16 Jan 2012 08:21:55 +0000 hourly 1 http://wordpress.org/?v= By: Madhav Shivpuri http://lifestyles.co.in/finance/financial-education-from-michael-jackson/comment-page-1#comment-35 Madhav Shivpuri Mon, 09 Nov 2009 05:31:46 +0000 http://lifestyles.co.in/?p=8#comment-35 Thanks for your comments Kartik. Yes, I think it is important to first make an habit of saving – the form, duration and amounts and secondary. If we speak specifically about insurance, premium (periodical payments) amount is always lower when the covered person is young. So it pays to start early and actually should be a motivation in itself to take action, however like you say we all get involved with daily worries of "Roti, Kapda aur Makaan" and let these things slide. Any thoughts on how to encourage one's family and friends to start taking hold of their financial future? Thanks for your comments Kartik. Yes, I think it is important to first make an habit of saving – the form, duration and amounts and secondary.

If we speak specifically about insurance, premium (periodical payments) amount is always lower when the covered person is young. So it pays to start early and actually should be a motivation in itself to take action, however like you say we all get involved with daily worries of “Roti, Kapda aur Makaan” and let these things slide. Any thoughts on how to encourage one’s family and friends to start taking hold of their financial future?

]]> By: Kartik Bajoria http://lifestyles.co.in/finance/financial-education-from-michael-jackson/comment-page-1#comment-29 Kartik Bajoria Sun, 08 Nov 2009 13:45:25 +0000 http://lifestyles.co.in/?p=8#comment-29 There is a good lesson in this for parents. Having said that, I do think that in India, unlike abroad, parents & children don't really ever 'leave' one another. They remain, even physically together. As a result, even if a couple (of our before our parents' generation) hasn't taken out an insurance policy, in whatever form or fashion, the wealth they create (in terms of bonds, estate, jewelry etc), invariably goes to the children. Where perhaps this is more pertinent, is young couples. People who have recently gotten married, are working professionals (not business people), who may not be too keen to save (not having the necessary foresight), and tend to be swayed by material purchases and a certain lifestyle they seek, rather than saving for the kids or for a rainy day. There is a good lesson in this for parents. Having said that, I do think that in India, unlike abroad, parents & children don’t really ever ‘leave’ one another. They remain, even physically together. As a result, even if a couple (of our before our parents’ generation) hasn’t taken out an insurance policy, in whatever form or fashion, the wealth they create (in terms of bonds, estate, jewelry etc), invariably goes to the children.

Where perhaps this is more pertinent, is young couples. People who have recently gotten married, are working professionals (not business people), who may not be too keen to save (not having the necessary foresight), and tend to be swayed by material purchases and a certain lifestyle they seek, rather than saving for the kids or for a rainy day.

]]>