Money brings different narratives to different people of different statuses. There’s a quiet change happening in how Indians think about money. More people are being informed about investment today than ever before. Apps make it easy, and conversations around SIPs, mutual funds, and insurance have become common, even among first-time earners.
But beneath all this activity lies a simple question: are we really building wealth, or just following trends?
In a candid conversation with Sanjiv Bajaj, Joint Chairman and MD of Bajaj Capital, the focus moves away from products and returns to something more meaningful. We discussed how people can manage their money in a way that actually supports them for life.
The growth numbers are impressive. India’s mutual fund industry has expanded rapidly, with assets crossing ₹73 lakh crore, growing nearly seven times in the last decade. Monthly SIP contributions have also crossed ₹32,000 crore, showing that more people are investing regularly.
But investing regularly is just one part of the story. What really matters is how that money is being managed.
Being Rich Feels Good. Being Wealthy Feels Secure
One of the most relatable ideas from the discussion is the difference between being rich and being wealthy. Being rich is about having money right now. It feels good, it looks good, but it can be temporary.
Wealth, on the other hand, is quieter. It’s about knowing that no matter what happens or what situation arises, like job changes, market dips, unexpected expenses, you’ll be okay.
And that’s where many people unknowingly fall short. With more people entering the markets, there’s a growing tendency to focus on quick gains. What worked last year, what’s trending now- these often guide decisions more than long-term thinking.
But wealth doesn’t align like that. It’s not built on quick moments but takes its own path with consistency.
The Step Most People Skip
If there’s one thing that stands out strongly in the conversation, it’s this: people want to grow their money, but they forget to protect it first.
In India, this is a real issue. A large number of people still don’t have enough insurance. At the same time, healthcare costs are rising fast, with medical inflation at around 10–14% every year.
Now think about that for a moment. A hospital bill today could be double in just a few years. And yet, many people start their financial journey with investments like SIPs, stocks, and mutual funds without understanding the basic protection in place.
It’s not that people don’t care. It’s just that protection doesn’t feel urgent until it suddenly is. One unexpected event- a health emergency, an accident, or loss of income can undo years of your effort.
That’s why the idea is simple but inevitable: before you grow your money, make sure it’s protected enough.
We Know More Than Ever?
Today, almost everything can be accessed with a click. With around 850–900 million internet users in India, financial information has never been more easily accessible.
You have the liberty to compare different policies, check returns, watch explainers or information and read people’s reviews- all in minutes.
And yet, this easy access has created a different sort of challenge. Sometimes, having too much information on the plate without the right context leads to unending confusion. Or worse, overconfidence.
People often make decisions based on trends, clickbait headlines, or half-known advice. It feels like you are being informed, but it doesn’t always lead to favourable outcomes.
Technology and AI are helping tools, no doubt. They make things faster and more efficient at times. But they still need human judgment and verification.
Because at the end of the day, finance is not just about data; it’s about decisions that will matter.
Why the Right Advice Still Matters
There’s a growing belief that you can manage everything on your own and to some extent, that’s true. But money decisions are not always straightforward. And some moments are harder than others.
Insurance is a good example.Buying a policy is easy. But when it comes to making a claim, things can rally get complicated for people. There are tangible terms to understand, systematic processes to follow, and sometimes, even disputes to handle on time.
And in those moments, having someone to guide you makes a huge difference. There’s also something very human here. Many people don’t even remember what they’ve bought, or why they bought it, until they actually need it.
“That’s where good advice goes beyond selling a product. It becomes about staying with the customer, helping them through decisions, and being there when it matters.” ~ Sanjiv Bajaj
It’s Not About the Best Investment
A lot of people spend time trying to find the “best” investment. The one that gives the highest return. But markets don’t work in straight lines. There are multiple factors affecting market everyday. What performs well today may not perform the same way tomorrow. That’s why balance matters more than perfection in investing.
Diversifying your money across different types of investments helps reduce risk and makes your overall journey smoother. Even a small difference like earning 2–3% more consistently over time can make a big impact because of compounding.
It may not feel like much in the beginning, but over 15–20 years, it can change outcomes significantly, driven by disciplined investing and compounding.
Insurance Is Not Exciting But It’s Essential
Insurance is not something people get excited about. It doesn’t promise big returns. It doesn’t feel like an 'investment win,' as well. But it does something far more important; it gives you stability and provides a safety net to your existence.
In times when markets are uncertain, or life takes an unexpected turn, insurance is what holds things together. Some products today even offer steady returns in the range of 6–7% in certain cases, which makes them useful for people looking for stability.
But more than returns, insurance gives peace of mind and that’s hard to put a number on.
A Bigger Opportunity Waiting to Be Tapped
There’s also a larger story here that we need to consider now. As more Indians start their financial journey, there’s a growing need for people who can guide them, especially in smaller cities where access to the right advice is still limited.
Financial advisory, in that sense, is not just a business opportunity. It’s also a way to improve financial awareness and outcomes at a much larger scale.
And as this space grows, it has the potential to create jobs while helping people make better decisions with their money.
What the Future Might Look Like
Looking ahead, it’s clear that technology will continue to play a big role. It will make things faster, simpler, and more transparent. But it won’t replace the human side of finance.
People will still need trust. They will still need guidance. And they will still look for someone who can help them make sense of it all. The future will likely be a mix of both: smart technology supported by thoughtful human advice.
Wealth is not about how much you earn in a year. It’s about how secure you feel over the years. It’s about knowing that your money is protected, your goals are planned, and your future is taken care of. Because real wealth is not just about numbers on a screen. It’s about peace of mind and the confidence that you’ll be okay, no matter what comes next.
