There has been a explosion in the choice of financial services for individuals and families in India in the last decade. The Indian financial services market has come a long way with an exponential increase in the depth and breadth of products available to the individual to choose from. As an example we have moved from one mutual fund house offering one scheme to more than 30 fund houses with an ever-growing number of schemes. This is seen across asset classes with the number of companies and options available increasing rapidly.

Simultaneously the levels of income have also increased significantly. These lead to two things. One is better lifestyle and ability to dream higher, sooner. Second is the willingness and flexibility of trying various options such as switching jobs, taking time off, retiring early or even starting up. This of course comes at the cost of longer work hours, more stress at workplace and loss of stability.

The choices facing our typical Indian family today are far more diverse in nature than that facing our earlier generation. The freedom offered by these choices gives you a far better control over your financial life than earlier. It is up to you to decide if you would want to use it effectively.