Hey folks,
We are starting with a super interesting and extremely pertinent book for the changing current times where our country is undergoing a massive transformation in the way we look at money. Just to give you all one example, new demat accounts have risen from approximately 4 Cr in 2020 to 10+ crore in just 2 years.
The book of this month is The Wisest Owl: Be Your Own Financial Planner by Anupam Gupta. Anupam is a CA, author and the host of the popular finance podcast Paisa Vaisa. He has over 2 decades of experience as an investment research analyst and a research consultant with leading brokerages and has co-authored with Saurabh Mukherjea - The Victory Project: Six steps to peak potential.
Managing money is easy in theory, but surprisingly hard in practice. Think about, pretty much every single thing you need to know about making your personal finances is common knowledge. Yet, only a tiny percentage of Indians actually invest. Of the people that do less than 20-30% of people remain invested in equities after 5 years. In a long term asset class such as equity only 2-3 out of 10 people invest for more than 5 years, let that sink in.
It’s not just investing. People also struggle with fundamental questions such as how much to save, what insurance to have, how to deal with financial emergencies etc. The fact that today we have more information than ever also complicates things. This book tries to help these young investors by offering them a framework they can use to create wealth in the long run.
Let’s grab a copy and read this book together as a group and share our perspectives on various topics covered.
