Retirement Planning is very important in the age of nuclear families and western culture. There was time when Indians never bothered about Retirement Planning or Insurance because they trust that their children particularly Son will take care of them both financially and emotionally, but with nuclear families its not possible anymore. Many elders are living alone nowadays and hence Retirement planning is essential for a relaxing and rewarding retired life.
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Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account , he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate. Read more »
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