I selected "Smart money Moves" by Vinod Desai because of the subtitle "For Grown-Ups a.k.a. Kids with money". I have read fewer books in self/personal finance genre books. Reading books in personal finance is like adding actual knowledge about your better future. So I was damn serious while reading this book. I have noted down few important tips as well.
Talking about the content, the author has started with breaking a few misbeliefs in the Indian context. It is always assumed in India that security is everything. So when it comes to financing the first option people go for is Fixed Deposit. And when it comes to policy in India, LIC is synonymous with policy. Still, the majority chunk of Indians believes whatever LIC gives in return is a blessing. People simply calculate what they gave and if the return is slightly more they are happy. They don't know how much it would have been if they had invested properly. Later on, the author has explained various ways that a normal person can take for better savings. It is like "the more you bleed in peace the less you sweat in war". It's better to start planning at a younger age then afterward. As money only understands compounding. In the shorter run, we only get the principal back. If we want an actual income longer run is the only option.
Good points about the book
- The author has avoided extreme mathematics. I have read a few books on personal investment and they were so full of equations that layman may find it difficult to grasp. But this book is low on equation and more on practicality
- Use of simple examples to explain concepts. The author has avoided using plain theories. He has given ample example of how to persons made or lost money by investing or not investing in a particular instrument
- A simple explanation of complex investment products
A good guide for salaried & small-time investors. I will give 4.5/5 for this wonderful guide.
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