Independence Day Special: Priti Rathi Gupta, Varun Malhotra, Taskeen and Col Govila on financial freedom

On the occasion of 75th Independence Day, Money9 recollects the moments when Priti Rathi Gupta, Col Sanjeev Govila (Retd), Varun Malhotra and Taskeen Fatima Basha shared their personal finance experiences and their wisdom on how important it is for everybody to take charge of their own finances to attain financial freedom in today’s time.

Edited excerpts

Financial freedom for women

“Look around you, how many women are investing. Even today, we have very few women investors. The fundamental difference is how women approach money. Women tend to save for financial goals. We are not risk-averse as is widely believed,” said Priti Rathi Gupta

For armed forces

“Mostly the army men realise the need for financial planning when they have kids, they need to fulfill the needs of their kids. This is when they realise that they should have started planning early,” Col Govila added.

“So, the basic problems faced by common people and the army are the same, like poor saving habits, financial illiteracy, etc. An army person earns Rs 30,000 per month, of which Rs 3,000 are for NPS. If they start saving Rs2-3 lakh in the initial years when the burden is less then with 15% compounding he can become a crorepati’” said Varun Malhotra, EIFS