How we love to follow successful people, even in personal finance matters! Recently, I was part of a panel discussion of a company that had corporate and internal participants (CXO level employees), who spoke about their financial journeys. I spoke about what needs to be done for individual financial well-being. The company is well-known and employees have made windfall gains through their stock options, vested over the years.
While the panellists concurred on the mistakes of their early financial life, some of the suggestions on managing money were really off target. The sad part was that employees were veering towards their seniors’ advice over thinking practically. For example, one of the panellists exhorted beginners to buy any stock from the Nifty through a zero-brokerage platform, as their first investment, adding that Nifty was risk-free!