Save first, spend later ; The next decade will belong to those who expect the best but plan for the worst

The slow one now, Will later be fast, As the present now, Willlater be pastThe order is Rapidly fadin', And the first one now,Will later be lastFor the times they are a-changin'These immortallyrics from Bob Dylan may as well be a prophecy for the comingdecade in terms of personal finance. The times are changing and weneed to be ready. What all should you do with your personal financein the 2012-22 period is the theme of my column. Let us take a quicklook at the trends in personal finance in India

-- Domestic savings rate estimated as a ratio of GDP is estimatedat 34 per cent and investment rate at 37 per cent for 2011/12.

-- GDP growth is expected to be …