http://ranjanvarma.com/financial-habits-indians-americans/ Changing the way we learn and manage our money Thu, 11 Mar 2010 14:13:22 +0500 http://wordpress.org/?v=2.9.1 hourly 1 http://ranjanvarma.com/financial-habits-indians-americans/comment-page-1/#comment-2748 Gowri Tue, 23 Jun 2009 16:30:17 +0000 http://ranjanvarma.com/?p=648#comment-2748 You need to look at one cultural difference: In India, savings for children's education and marriage is a big priority and a "must have" for most families. In the US, this is a very low priority. Children for the most part fund their college eduction themselves (thru students loans and such), and marriage is on their own for the most part again. So this reduces the savings needs to primarily retirement. This is what is behind what you say: "Looks like that the US citizens are primarily interested in taking precaution for their retirement life and the lion share of their investment goes to retirement accounts. " You need to look at one cultural difference: In India, savings for children’s education and marriage is a big priority and a “must have” for most families. In the US, this is a very low priority. Children for the most part fund their college eduction themselves (thru students loans and such), and marriage is on their own for the most part again. So this reduces the savings needs to primarily retirement. This is what is behind what you say: “Looks like that the US citizens are primarily interested in taking precaution for their retirement life and the lion share of their investment goes to retirement accounts. “

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