In this conversation with Shray, Deepak shares why he feels now is the time for India's concept of a Retirement Account - he calls it the MERA account. This account should help improve investment opportunities for retail customers, create a longer-term investment horizon and push people to save for their retirements.
Listen in as we discuss:
- The concept of a retirement account
- Impact on the economy and people
- Imagining a retirement account scheme that works for India
- The operational aspect of such an account
- Who would oppose such a thing?
Show notes and references
2:00 - Seven consecutive years of positive market returns for India
4:00 Seize the opportunity of India story with retirement accounts
Read: My Empowered Retirement Account (MERA)
8:30 Where do LIC and EPFO invest retirement money
"We're giving asset managers our retirement money and asking them to do great things for the next 20 - 30 years... But, they're not doing great things... They are conservative.. not letting me realize my larger risk appetite."
14:30 ELSS equity funds hold money for a longer period of time. Can't they act as retirement funds?
17:00 The peril of investing for retirement with post-tax money
25:00 Deepak introduces his idea of MERA - My Empowered Retirement Account (MERA)
33:00 Why does this matter so much at the national policy level?
41:20 Who are the people who would feel this is not a good idea?
