00:00So that was a fantastic presentation and lots of insights about how people are behaving
00:13and also it kind of shows that, you know, retirement preparedness, which we have been
00:19talking about, it's really low and the good part of course, what I saw was that, you know,
00:25more people are wanting to go on that path like you were mentioning, but where it goes
00:31and how it goes is a big question and my question, the first question that I'll ask you is about
00:38that also, that a lot of people say they have started planning for retirement, but there
00:44are a few who actually know what to do about it, where to invest, you know, how much they
00:51need and other details that are critical for making a proper retirement corpus.
00:58So what should, what is the way forward for them?
01:01Right.
01:02So thanks, thanks Nidhi, thanks for the opportunity as well to present some of our findings.
01:09And the point you've raised is very real, I think, you know, that comes out loud and clear,
01:14that there is an intent, but somehow we are procrastinating, we are pushing it to tomorrow,
01:19and you know, some of us are admitting, actually I don't know where to go, and that's just
01:24out there.
01:26I think, you know, if we resolve to do it today, I think there is enough opportunity, you know,
01:34in this hall for us to get started.
01:37I would think that this is not something which, along with my profession, I can hope to do as
01:45good a job off as I think.
01:49And therefore, this is definitely an area I would get professional advice on.
01:55Not that, you know, some of us may feel that, no, no, it's not very difficult, I can do
01:59it on my own.
02:01But a one or two percent difference over a long period of time can actually add so much
02:05more wealth to my corpus or growth to my corpus that it's often unbelievable.
02:13And if you can get someone who, you know, who you have trust in and is a professional,
02:20is regulated, I would think that is probably the best way to go.
02:25Because someone who will be able to guide you through this labyrinth of financial terms,
02:31whether it's term insurance or SWP and, you know, hybrid funds and things of the other.
02:38And keep it simple for you, tell you this is the corpus that you should aim for, hand
02:43hold you to make sure you get there and then be able to sort of use it or help you use it
02:49in your retirement years.
02:50I think that can be done by a professional.
02:52So I would highly encourage that seek out and get a professional.
02:56So in fact, I noticed another thing that, you know, the number of people who are going
03:00to advisors, whether it's bank officials or distributors, there's a large ecosystem right
03:07now, it's not just RIAs, has slightly increased over the people who only depend on family and
03:14friends.
03:15So, do you think this will, you know, move in the right direction?
03:19No, so I think it's very heartening to see that it's already moving in the right direction.
03:26Because like I mentioned in the earlier research, we used to see a lot more of us dependent on,
03:31you know, our family members or friends to guide us through this.
03:36And clearly technology has played a part.
03:38So it's not just access to individuals or bank officials or other financial experts, but
03:45even online today, there are beautiful tools one can go through.
03:50Pretty much most mutual fund or insurance companies, their own sites will show you or give you enough
03:57tools to be able to plan for a copper, see how you can deploy it, play around with the
04:01numbers, see what missing out on a few years means, etc.
04:05So I would encourage that that's a great trend.
04:08There is more awareness, there is more knowledge, but a lot more to be done.
04:13And this is something I hope continues in this direction.
04:15Right.
04:16And also the element of caution in terms of, you know, there may be a lot available on
04:22the internet which may not be genuine or may mislead people.
04:27No, and very important point because I think sometimes, you know, it's sad to see that,
04:35you know, an entertaining video, it should really be entertainment gets missed, messed up
04:39or it's you looked at like financial advice.
04:43So, please be cautious of this.
04:46We do see in the industry a lot of very interesting numbers, almost unreal numbers coming out of
04:52people who look like experts.
04:54But, you know, you have to be careful about who you're listening to, what you're doing.
04:59I would prefer that please go to regulated entities and everything on the internet is not regulated.
05:05So, keep that in mind.
05:06And, you know, the one saying in financial markets is that if it looks too good to be true, it probably is.
05:14So…
05:15Right.
05:16Absolutely.
05:17So, one more question to you, Mr. Kapoor, is, you know, we all kind of say, all the experts
05:24say that you should start early and so that you have the time to build up the corpus.
05:31But the report also shows that, you know, most people start late actually.
05:36So, how does this cohort, and we have a lot of people from this cohort today, deal with
05:42the situation?
05:43I mean, because there is a large possibility that they may lose hope.
05:47Yeah.
05:48So, certainly I think within this cohort, I hope no one is losing hope, you know, I don't
05:56think this is something that is… that can get worse, it can only get better.
06:01So, to that extent, just in case you have not started, start today.
06:07For everyone in this… in this room, right, I don't think there is any other real way
06:13to get out of this.
06:15Because the earlier you start, the earlier, the more conscious you become, the better your
06:18chance of really enjoying your golden years.
06:22Like we've discussed, there are some pitfalls on the way.
06:25So the more aware we are of pitfalls, hopefully we have a better chance of avoiding them.
06:30And that's all I think we should try and do, which is where I think that instead of
06:34trying to do it all ourselves, you know, going to experts who are regulated, who have a sense
06:40of responsibility, finding out some information ourselves, probably gives us the best chance
06:46of success.
06:47Right.
06:48Thank you so much.
06:49And on that note that, you know, it's not the time to lose hope, even if you are late.
06:54Any time is a good time to start, right?
06:57Thank you so much Mr. Kapoor for this conversation and presentation.
06:58My pleasure.
07:10Thank you so much.
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