Very comprehensive and insightful article.Enjoyed reading it , as you rightly say the winds of change are blowing in urban as well as rural India.we have to empower the 50% of our population and financial independence of Women is the need of the hour !!
Socioeconomic changes in the last 50 years, has progressively led to the identity of the women in India, from a housewife to an individual with a free choice. Although, the emancipation of the female gender in our traditional society, has still a long way to travel, but the educated, assertive and financially independent woman, is the new reality and this is set to grow. Today the educated young lady is more keen to establish herself in a career and only then is she comfortable to settle into a marriage, with the assurance of independent financial security. What will and has followed, is her desire to further establish her economic independence by investing her money in generating funds for retirement, as her commitment to children and family is much more than her male companion. A very important article Anil, I am sure other people will appreciate your article as well. Thoughtful !
Adding to what you said, change is sweeping rural India too. For example the housing for poor is in the name of the woman of the house. Financial power is the first step towards social empowerment.
I believe we are at a very important tipping point in the history of modern India.
Thanks a lot for writing about Her Money. It's very heartening to note that the number of female investors are rising. Atleast they have the concept of personal finance and how to invest it. Earlier it was understood that the father used to take care of his daughter's finances in case she was earning. Later on the onus shifted to the husband. It was very common for ladies to hand over their entire salary to the husband. It would be used for the family because the lady was supposed to work for her family members. Plus, women had an inherent fear of taking risks and investing her hard earned money in a volatile market. What if something went wrong? It's time for that traditional mindset to change where women are answerable for all their decisions.
Thank you for writing in. You are so right. It is time to visit the existing mindset.
And women are not risk averse, they are risk aware. Subtle but an extremely important difference. I have fleshed this out in greater detail in the piece published by Khaleej Times. Time permitting, do read.
Thanks a lot for writing about Her Money. It's very heartening to note that the number of female investors are rising. Atleast they have the concept of personal finance and how to invest it. Earlier it was understood that the father used to take care of his daughter's finances in case she was earning. Later on the onus shifted to the husband. It was very common for ladies to hand over their entire salary to the husband. It would be used for the family because the lady was supposed to work for her family members. Plus, women had an inherent fear of taking risks and investing her hard earned money in a volatile market. What if something went wrong? It's time for that traditional mindset to change where women are answerable for all their decisions.
Dear Anil,
Very comprehensive and insightful article.Enjoyed reading it , as you rightly say the winds of change are blowing in urban as well as rural India.we have to empower the 50% of our population and financial independence of Women is the need of the hour !!
Thank you Vandana. Glad you liked the piece.
Best
Anil
Socioeconomic changes in the last 50 years, has progressively led to the identity of the women in India, from a housewife to an individual with a free choice. Although, the emancipation of the female gender in our traditional society, has still a long way to travel, but the educated, assertive and financially independent woman, is the new reality and this is set to grow. Today the educated young lady is more keen to establish herself in a career and only then is she comfortable to settle into a marriage, with the assurance of independent financial security. What will and has followed, is her desire to further establish her economic independence by investing her money in generating funds for retirement, as her commitment to children and family is much more than her male companion. A very important article Anil, I am sure other people will appreciate your article as well. Thoughtful !
Thank you Gautam.
Adding to what you said, change is sweeping rural India too. For example the housing for poor is in the name of the woman of the house. Financial power is the first step towards social empowerment.
I believe we are at a very important tipping point in the history of modern India.
Best
Anil
Dear Anil
Thanks a lot for writing about Her Money. It's very heartening to note that the number of female investors are rising. Atleast they have the concept of personal finance and how to invest it. Earlier it was understood that the father used to take care of his daughter's finances in case she was earning. Later on the onus shifted to the husband. It was very common for ladies to hand over their entire salary to the husband. It would be used for the family because the lady was supposed to work for her family members. Plus, women had an inherent fear of taking risks and investing her hard earned money in a volatile market. What if something went wrong? It's time for that traditional mindset to change where women are answerable for all their decisions.
Dear Ranjini,
Thank you for writing in. You are so right. It is time to visit the existing mindset.
And women are not risk averse, they are risk aware. Subtle but an extremely important difference. I have fleshed this out in greater detail in the piece published by Khaleej Times. Time permitting, do read.
Best
Anil
Dear Anil
Thanks a lot for writing about Her Money. It's very heartening to note that the number of female investors are rising. Atleast they have the concept of personal finance and how to invest it. Earlier it was understood that the father used to take care of his daughter's finances in case she was earning. Later on the onus shifted to the husband. It was very common for ladies to hand over their entire salary to the husband. It would be used for the family because the lady was supposed to work for her family members. Plus, women had an inherent fear of taking risks and investing her hard earned money in a volatile market. What if something went wrong? It's time for that traditional mindset to change where women are answerable for all their decisions.