8 Financial Lessons Learnt Over The Decades

As we embark on yet another decade, I was reminded of the past; the decades that have passed since I started my career. I was able to reflect on how my financial journey has evolved over the time and my learning from it. While my middle-class moorings always made me conscious about saving money, my professional journey introduced me to investing very early in my life.

- Ajit Menon CEO, PGIM India

Over two past two decades I have spent time in the financial services industry working with some very diverse personalities. This experience has provided me with a ring side view of real-life personal finance lessons. The knowledge that I have gained over time, has done me good in life and I wish to share these experiences with you as we set foot into another decade.

Lesson 1: Never ignore insurance

Life can throw some nasty surprises at you. I learnt early on the importance of life insurance to protect the interests of my family. I equally learnt the need to stay healthy and be financially protected with a health insurance to meet any financial issues owing to ill health. I recollect a colleague who faced lifestyle health issues, which severely impacted his professional growth and in turn disrupting his best laid future financial plans.

Lesson 2: Stay invested for the long term