Financial aspirations of G-1967 and G-1991: financial independence. A family is financially independent when the savings it generates are very significant and are converted into investments — further defined as instruments that carry higher risk and deliver higher returns. This family need not retire at 60 but at 50 or even 40. Higher incomes translate into higher return assets like property and stocks and ensure that while the monthly expenses are taken care of through rents and dividends, capital is not eroded by inflation and in fact appreciates, keeping the standard of living intact. Our father’s generation and some from mine aspire for this.

Financial aspirations of G-1991 and G-2007: financial freedom. Aah... this is the greatest aspiration of all. But only risk takers can embrace it. A family is financially free when by engaging with market opportunities that the economic environment offers it creates businesses and enterprises that flourish. The aspiration for this family is not ‘expenses taken care of’ but ‘wealth creation’. This can happen either by setting up a business or by working for large companies and turning mind into money through stock options. In short, financial freedom is the power, the ability to make working, spending, leisure choices without worrying about its financing. It’s like reading only the left side of a plush restaurant menu.

This is the aspiration of some of my generation and most of the next. And it is this aspiration that will simultaneously ride and drive economic growth of India, as it turns into a generation of prosperous entrepreneurs whose companies grow into the Sensex. As we look behind and celebrate the freedom path carved out for us by our grandfathers, let us not forget to look ahead to enable G-2007 to touch the next freedom.