This Issue of Financial Security
Money has such a pivotal role. Almost no one can be indifferent to it. However, very few, a miniscule minority really understand it and can take balanced decisions about it. While it is a rational subject, emotions drive decision making. A person in his forties, earning Rs. 5mn pa, but is absolutely unhappy with his job, is asked, “How much more money do you want to earn, before you feel secure enough to retire?” He says, “I would like to quit, but I can’t arrive at a figure, the more, the better.” Now, this can be interpreted in two ways. One, that his cribs about his jobs are nothing more than an engaggement in self-pity. He needs someone to agree with him that he’s going through troubles and that factors outside are responsible for his misery. The second interpretation is that he truly wants to free himself out of his misery, but is not feeling financially secure to quit his job. Which of the interpretations is correct can be easily gauged by asking simple questions like, ...