Having A Dream

So you have a dream project in mind and you don’t have the funds to implement the project? This problem is relatively easy to solve. The solution is to start saving or raise money from different sources.

However, what if you have the funds but you don’t have a dream?

What would you do in such a situation? Say suddenly, one day, you have One Million USD. How would you invest this sum?

Is it necessary to have a dream in order to invest One Million USD?

Someone told me that there are certain business families who train their next generation to grow their empire from 20 billion to 50 billion. Nice. But what’s the purpose? Is it only about the numbers or is there some dream that has to be fulfilled with this money?

Recently I read about Mr. Analjit Singh (of Max) building a villa for himself and a tourist resort in South Africa. A green field project from grass root level – transforming the landscape with vineyards and a winery. A dream project!

So what if you have loads of money, but no dream project?

 

 

Giving – an art form!

There is a talk of money billionaires giving away large chunks of their wealth, either during their life time or after they pass away.

One needs to understand how a person who has spent his life in the race to top the list of wealthiest persons, then suddenly decides to give it up.

Religious scriptures have all prescribed the curative effects of charity on the soul. May be there is a great burden of carrying the load of wealth for a long time and hence finally one realizes the futility of it all and wants to reduce his burden. Yet, we have highly spiritual people like Steve Jobs, who openly said, “I do not believe in charity.” May be Steve, the maverick that he was, never felt the burden of wealth at any time!

A trust called “Dharma Bharti Mission” has a very interesting take on this. They advocate- “Begin with self, Begin small, Begin Today” and “Give till it hurts” – Very apt philosophy.

Paisa hi Chahiye!

Recently the US enforcement agencies levied a fine of over 5 billion dollars on some of the “best”, “most respectable” banks for settlement of criminal liability for manipulating the interest rates. Names like Citigroup, JP Morgan, Barclays, R.B.S, whom you trust so much, all of them pleaded guilty. They accepted that they are guilty of cheating and other malpractices of manipulating the maket.

Then US officials have also discovered fraud at FIFA top management level that will make our Srini Baba look like a saint.

What is happening? It all goes by your philosophy. You can live your life by following a philosophy of “Paisa BHI chahiye.” (I want money also)

Alternatively, like Mr Raju of Satyam, you can say, “Paisa heechahiye.” (I want money only)

Choice is yours.

What does it mean for you?

Well you have to take care of your finances yourself. You cannot blindly follow the so called “reputed experts.”

My sacred rules about wealth

As I turn 50,  I am wondering whether I have become wise as well and what are my sacred rules about wealth. I have never written down these sacred rules and this gives me a good opportunity to share my personal views / sacred rules.

1. When you start your financial life, your foundation has to be very strong. Money has time value. Rs.1000/- saved today will become Rs.1 lakh after 20 years. So in the initial phase of your career try and save money.
2. Always be a creator, not a consumer. So there must be savings at all stages. This way you grow your wealth instead of eroding it.
3. Pi should generally never be consumed. Your personal consumption must come from Ai and Pi should be used to build assets.
4. If you have received certain benevolence from your parents, then it is your moral obligation to give at least the same benevolence to their grandchildren. Your parents love your children more than you love them. You owe it to them.
5. Conserving and protecting your wealth is a duty. You cannot be careless with your wealth. So conserve your wealth and protect it from your enemies.
6. You have to take control of your health and your wealth. You may take professional advice in these matters. However, you have to take charge, total responsibility about your wealth. Nobody else will do this for you.
7. Savings instrument is only a temporary station. You have to convert your savings into investments.
8. Give priority to Pi also. Do not become so busy in Ai that you do not have any time for Pi. Great investments demand your money as well as your time. So always allocate time for Pi out of your busy schedule.
9. Do financial exercises regularly; this will lead to more insights into your wealth and open up new possibilities.
10. Share your knowledge about wealth with others and try and learn from them as well.
11. Talk about money & wealth with others. This can help you in forming your vision & your plan. If you cannot discuss financial affairs with friends, then you must spend time reading books on the subject. Even otherwise, if you are serious about wealth, then you will invest your time to understand more about it.
12. It might be worthwhile to engage a Wealth Coach who can mentor you, guide you & motivate you on your financial journey. He might be the only person with whom you share all your financial details.
13. Remain away from vices. These can erode your wealth in no time, without you realizing it.

You are free to add to these sacred rules! Do write in.