Wealth Creation
- Thread starter amitrandive
- Start date
Five reasons to buy an insurance policy online
Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
Investment in Time
http://time.com/money/3903563/millionaire-secrets/?xid=tcoshare
When most people think of risk, they think of it in terms of some financial investment they make: investing money in a new business; investing money in stocks, mutual funds, bonds etc.; playing the lottery, gambling or lending money to someone. But financial risk is not the greatest risk most take. You can always earn more money. Money can be recouped. But there is another risk almost everyone takes for granted. This is a risk that, when made, can never be recouped. It’s gone forever. What is it? The greatest risk we all take is time. When we invest our time in anything, it’s lost forever. It never gets renewed or returned to us. Yet, because we are all given what seems to be an abundance of time, it has very little value to us. So we spend an enormous amount of our time engaged in wasteful activities such as sitting in front of a TV, on Facebook, watching YouTube videos, sitting at a bar, lying in bed or engaged in some other time-wasting, non-productive activity. And when we waste time, it’s gone. It will never return. We don’t consider how precious time is until we are older and we realize our time is running out.
Time needs to be invested wisely in pursuing goals, dreams or some major purpose in life. Any investment we make of our time should pay dividends down the road in the form of happiness events, financial security, creating a legacy or in helping improve the lives of others. When you see time as the greatest risk of all, it forces you to become more aware of exactly how you invest your time. Invest it wisely, because you will never get it back
http://time.com/money/3903563/millionaire-secrets/?xid=tcoshare
When most people think of risk, they think of it in terms of some financial investment they make: investing money in a new business; investing money in stocks, mutual funds, bonds etc.; playing the lottery, gambling or lending money to someone. But financial risk is not the greatest risk most take. You can always earn more money. Money can be recouped. But there is another risk almost everyone takes for granted. This is a risk that, when made, can never be recouped. It’s gone forever. What is it? The greatest risk we all take is time. When we invest our time in anything, it’s lost forever. It never gets renewed or returned to us. Yet, because we are all given what seems to be an abundance of time, it has very little value to us. So we spend an enormous amount of our time engaged in wasteful activities such as sitting in front of a TV, on Facebook, watching YouTube videos, sitting at a bar, lying in bed or engaged in some other time-wasting, non-productive activity. And when we waste time, it’s gone. It will never return. We don’t consider how precious time is until we are older and we realize our time is running out.
Time needs to be invested wisely in pursuing goals, dreams or some major purpose in life. Any investment we make of our time should pay dividends down the road in the form of happiness events, financial security, creating a legacy or in helping improve the lives of others. When you see time as the greatest risk of all, it forces you to become more aware of exactly how you invest your time. Invest it wisely, because you will never get it back
Zero Tax Incomes
It is generally believed that one can't have the best of both the worlds, especially when it comes to income and taxation. The more one earns, the more would be the tax liability. But, not many people are aware that this is not completely true and there exist certain types of income for which your income tax liability is zero.
"Such incomes are not added to your total taxable income for that assessment year and thereby remain tax-free. Section 10 of the Indian Income Tax Act of 1961 lists the various incomes that come under this category,
Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
It is generally believed that one can't have the best of both the worlds, especially when it comes to income and taxation. The more one earns, the more would be the tax liability. But, not many people are aware that this is not completely true and there exist certain types of income for which your income tax liability is zero.
"Such incomes are not added to your total taxable income for that assessment year and thereby remain tax-free. Section 10 of the Indian Income Tax Act of 1961 lists the various incomes that come under this category,
Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
How can I invest such a small amount?
http://www.subramoney.com/2015/05/how-can-i-invest-such-a-small-amount/#comments
I have been asked this question for over 30 years…and have wondered ..why people cannot invest Rs. 500? or Rs. 5000?
For many people this is a very fair question..and therefore they do not think of investing till they have “a big sum like Rs. 400,000″ – like Mr. Panch asked me.
And I am a strong believer of SIP (by the way there are only about 25 IFAs who have a SIP book of more than Rs. 1 crore a month!! This of course does not include banks, but banks do not sell SIP as much as they sell lumsum.
When a person is new to investing, and he is a salaried person the best thing to suggest is a SIP. Small (Rs. 500 is the minimum)…and I know of people who do SIPs for Rs. 100,000 – in 4 funds thus making the commitment Rs. 4L a month. I have also met another person who was then doing SIP of Rs. 9L per month – albeit for a short period of 3 years!!
I was initiated to SIP by Suraj Kaeley – the then head of sales/marketing in Franklin Templeton. He now heads the Marketing function in UTI..so much so that some of us would call him SIP SURAJ…and I have been addicted to it. It is sad that a very small number of IFAs are as committed to selling SIPs – the numbers should multiply. When Mr. Panch asked me about sip HE had no clue about how the equity market works…and today his equity accumulation is 3x his provident fund accumulation and he is just 53 years of age. Over the next 8 years I expect his accumulation to be about 5x his provident fund!! Not bad at all for a person who in 2000 did not know what is a SIP…i presume he is continuing his SIPs – he tells me he is !!!
As soon as you start earning – having an investible surplus – you can do a sip. Today a couple of mutual funds allow you to do an auto top up..the sip amount will go up every year – hello wait it can happen over 6 months too – and thus silently your wealth keeps inching up. I am convinced my readers did not need this post – all of them are savvy..but just in case there are some new comers…let them read it…
http://www.subramoney.com/2015/05/how-can-i-invest-such-a-small-amount/#comments
I have been asked this question for over 30 years…and have wondered ..why people cannot invest Rs. 500? or Rs. 5000?
For many people this is a very fair question..and therefore they do not think of investing till they have “a big sum like Rs. 400,000″ – like Mr. Panch asked me.
And I am a strong believer of SIP (by the way there are only about 25 IFAs who have a SIP book of more than Rs. 1 crore a month!! This of course does not include banks, but banks do not sell SIP as much as they sell lumsum.
When a person is new to investing, and he is a salaried person the best thing to suggest is a SIP. Small (Rs. 500 is the minimum)…and I know of people who do SIPs for Rs. 100,000 – in 4 funds thus making the commitment Rs. 4L a month. I have also met another person who was then doing SIP of Rs. 9L per month – albeit for a short period of 3 years!!
I was initiated to SIP by Suraj Kaeley – the then head of sales/marketing in Franklin Templeton. He now heads the Marketing function in UTI..so much so that some of us would call him SIP SURAJ…and I have been addicted to it. It is sad that a very small number of IFAs are as committed to selling SIPs – the numbers should multiply. When Mr. Panch asked me about sip HE had no clue about how the equity market works…and today his equity accumulation is 3x his provident fund accumulation and he is just 53 years of age. Over the next 8 years I expect his accumulation to be about 5x his provident fund!! Not bad at all for a person who in 2000 did not know what is a SIP…i presume he is continuing his SIPs – he tells me he is !!!
As soon as you start earning – having an investible surplus – you can do a sip. Today a couple of mutual funds allow you to do an auto top up..the sip amount will go up every year – hello wait it can happen over 6 months too – and thus silently your wealth keeps inching up. I am convinced my readers did not need this post – all of them are savvy..but just in case there are some new comers…let them read it…
Similar threads
-
Long term wealth creation with minimum intervention- Started by vivektrader
- Replies: 49
-
-
#WCS Theme of the 22nd Wealth Creation Study 2017
- Started by Jogindar singh
- Replies: 0
-
-