Page 4 - Harsh Roongta

Curbing one's competitive streak can be rewarding

Instead of perpetually competing for a higher status in the social hierarchy, taking decisions that align with personal values and life situations can be more beneficial

Unified death reporting is the need of the hour

The white paper, when fully implemented, will improve the ease of living index considerably for the families of deceased investors

Appeal to 'slow mind' to wean investors off F&O

Investors' 'fast mind' gets lured towards the F&O segment, enticed by the prospects of quick gains. A campaign targeting the 'slow mind' can induce prudence

Track finfluencer earnings, and have a lot more RIAs

The tax department must share the information gathered under the new TDS section with the regulators to help the latter maintain a finfluencer revenue dashboard

Put checks in place to curb overconfidence

Be aware of the overconfidence bias and implement checks in crucial areas like personal finances, say, by seeking expert advice or advice from a trusted source

Index fund or ETFs? Compare total cost

The difference between market price and the NAV imposes an additional cost. Besides, there is brokerage fee, which amplifies an ETF's tracking error

Disclosing conflict of interest builds trust

I explained the conflict: if Sukanya sold real estate and invested in financial products, our fee, a percentage of assets under advice (excluding real estate), would rise

Central agency needed to curb mis-selling menace

While new-age investors require protection from finfluencers, there's also a need for a centralised agency that transcends regulatory silos and provides redress to older investors

Investor education can't be left to finfluencers

The space for non-regulated finfluencers has been created by the absence of regulator-driven education programmes and the constraints faced by regulated entities due to over regulation

An innovative approach to domestic staff loans

This system could convert 15 crore households into social venture capitalists, offering Rs. 75,000 crore worth of microloans to staff, and integrating the latter into formal lending

Restrictions on foreign spends erode Brand India

Any nation that restrains its citizens from investing or spending money overseas will face difficulty in becoming a superpower

Have realistic expectations from your investments

An investment's six-month performance is akin to data shown on TV during a match - useful to know which way the match is going, not select a batsman

High pension recipients can get short-changed in bailouts

Employees seeking larger pensions are betting on government intervention to address deficit. However, past precedents show governments cap the pension in such situations

Debt fund growth option: A smart choice for retirees

A growth scheme not only leads to lower tax payments than the dividend option but also allows any income that is not withdrawn to compound

Wealth creation is simple but not easy, requires discipline

Clients often fall back into old habits and require motivation to stay on track. Financial planning professionals also provide support during in inevitable setbacks

Focus on coverage provided, not premium collected

Measuring actual coverage provided, rather than premiums received, will ensure that the insurance industry's success is aligned with the goal of 'insurance for all'

Searchable database for unclaimed shares needed

A publicly available transparent database would increase the chances of genuine claimants finding out and making their claims, thus reducing the chances of fraudulent claims

Mad money: Indulgence that keeps you disciplined

Clients with insufficient resources should be allowed a Mad Money Fund, even if it creates the risk they may not be able to meet their goals

Budget aims to fix 'nuts and bolts' of state machinery

The government clearly wants everyone to file income tax returns so that the people with unaccounted wealth do not use the low income individual as a shield for their unaccounted wealth

Beware! Govts do default on pension liabilities

The faith displayed by employees in a future government's ability to pay pension is perplexing when stories abound of state governments having difficulty in paying salaries