Depending on what you are reading, you might believe that mutual funds in India, as compared to the rest of the world, are too expensive. Or very cheap. The story goes like this. Mutual Fund tracker Morningstar does a biannual study titled Global Fund Investor Experience Study (GFIES). The 2017 study looks at 25 countries and compares them across four parameters (regulation and taxation, disclosure, fees and expenses and sales). India has an overall grade of average, with a top ranking in disclosure, but a below average ranking in fees and expenses. You can see the study here.
Monika Ke Money Mantr
This is a teaser to the full show
The full show on CNBC Aawaz where Priyanka Sambhav and I talk all things money!
Vijaya Pushkarna writes this great review of Let’s Talk Money in The Week
“Monika Halan is a familiar face on television, giving tips on personal finance. Recently at a cafe in Auroville, she bumped into a man who told her she was the reason he was there, living his dream life. An Army officer, he had called her a few years ago to tell her he wanted to take early retirement, and she had told him his money was “enough to go free”. She gave him investment tips, too.
In her new book, Let’s Talk Money: You’ve Worked Hard for It, Now Make It Work for You, Halan shares what she has told the former Army officer and others like him. But she cautions that her book is not going to make anyone rich overnight, and has nothing exclusive in it. True, on both counts. Nowhere does she use the words ‘get rich’; the carefully chosen words are “empowerment and financial freedom”.”
My own paper excerpted the book. Super cool!
Let’s talk money. When was the last time you said this to anybody other than while finalizing a deal? But money, and our relationship with it—our fears, greed, insecurities and over-confidence—define who we are and what we do. Paradoxically, talking about money has been frowned upon as gross in families and social situations. The rich are called “filthy rich”. “Being above money” has been an aspirational moral position for most of middle India.
Much of this attitude has roots in a deeply poor country with limited avenues for honest wealth creation. The Bollywood smuggler of the 1970s had his bungla, gaadi and daulat, but not his mum. Today, the mum has her own life along with her own bungalow, car and wealth. And no, she does not want to play nanny to your leaking kids.
When we think of a book on money and its management, we think of pie charts and bar charts. We think of boring jargon-filled text. Let’s Talk Moneytries to smash all these notions and brings the reader a book that is a slice of their lives. It aims to help the reader build financial security without the usual fear-mongering or guilt-tripping about enjoying a Starbucks at work every day. Edited excerpts: