Traditionally our money management matters have been handled by 3 sets of people, besides ourselves
All Indians are doctors just as all of us are financial planners. Well, one can safely replace “all" with “nearly all". We improvise on generic medication when our family members are hit by minor medical ailments. Similarly, we assume that money management is mostly about choosing investment products, which, in turn, is all about tracking past performance of these products; something that can be easily done. It is common to see people following financial advice originally meant for their friends (which could have been given by an investment adviser), not halting to ponder that this advice could be pertinent to their friend but may be altogether inappropriate for oneself.