Wednesday, August 09, 2017


( most common ones )

"TOUGH TIME CREATE TOUGH PEOPLE"- Benny Binion / Richard Grimesy




                                                    B U T    H O W ? 
                           is the question, remains unanswered for 99% People

(In this Article I will Share thought on HOW REALLY RICH PEOPLE BECAME RICHER THROUGH TOUGH TIMES , my experience and feel about tough times-infact I am going thru' one now- , what it takes to REALLY BE TOUGH IN TOUGH TIMES and WHAT IT ACTUALLY MEANS TO TRUST IN GOD in TOUGH TIMES)

When I used to hear in Bad times, that GOD is Kind and Tough times never last long, I used to think OK someone will come and help me or that some thing will happen which will bring positive change or that my times are bad so I just need to trust in GOD, pray, and give time for this tough times to pass.( This is general thought in common persons mind)

I realised over period of time, passing through good and bad times and meeting really successful Rich people , WHAT IT REALLY TAKES TO EMERGE RICHER and TOUGHER thru' this period and attain EXCELLENCE.

Below are the LIST of 6 people you always need to have in BAD times or to say rather all times-

1  Family Around with you to listen , understand and support

Family is first point of contact and will always know and sense what you are going through ( even if you do not tell them).They sense that you are silent or relatively more talkative and that your are feeling some anxiety or tense.Having open , frank and consultative discussion with family members ( even childrens) , would be always great and may bring in "that support" which generally only percieves in ones mind and that can also give a way out.Remember , in general we live about 50% and more life with FAMILY AROUND.

2 Positive and supportive Friends / Colleagues

Positive Work environment is always great with supportive colleagues.Remember it will never come unless YOU take the first step.I mean, the Positivity and Support always starts with YOU-that ,if and when your colleague or friend in going through tough times, you should be the one to stand besides him/her and during your tough times, they generally reciprocate or someone would surely be around.About 25% of your life goes around with friends and colleagues and so having them around with Positive and Supportive hand and mindset is of great importance.

3 Great Mentor

This Master, lot of people don't know and people who know, think it is ONLY MEANT FOR RICH PEOPLE TO HAVE THEM AROUND.But, it's having these people around actually not only makes ,but also keeps them RICH. 
A GREAT MENTOR around is a boon , in tough times, but also in times when you want to grow to next level.A Mentor is a person who over a period knows you, your surroundings and things that affect you positively and negatively very well, and so how to utilise them in GOOD and TOUGH times, and keep one POSITIVE and make way to actually gain in tough times.
Instance:Due to Self-Doubt on the project that one of my client prepared,he was not able to take decision on next steps.A Mentor I know, did analysis and identified that past experience of mis-trust, failiure and loss,has put that business person to have thought of fear ( of failiure),mis-trust( Leading to not delegating and appointing another person) and containment ,which was stopping him to actually take the project further and the person was not satisfied with self and was carrying the guilt , which was also reflecting in his current line of business.The mentor took just 4 months to understand,identify and flush out those experiences and initiate the project.

4 Financial Planner / Chartered Accountant

A Superb Financial Planner / Investment Adviser, is very much needed around.When times are tough EMOTIONS SWAY a LOT and it is this EMOTIONAL situation that leads any individual to take FINANCIAL Decisions( during bad times, erratic or imbalanced emotions instigate bad financial decisions, which actually ruins time and money). Mind you, ENGAGE a Planner  who not only is good in Wealth Creation and Calculations, but also is great in understanding Emotional and MARKET Situations, to help you take CALM and CONFIDENT MONEY DECISIONS as per the LIFE STAGE YOU ARE IN.Great Financial Life Planner who has set processes to truthfully and positively express you, your Money Decisions, based on current life stage and your Future PLANNED Life Sages is a HUGE Asset to be clear,calm and confident even in tough / bad times to bring in great times and to sustain in next bad period,whenever it comes again.
A Simple example is: In Bad times, I instigated one of my client to sell his Secondary property, take a rental property for business use and utilise the same money for Business growth.So Liquidity was created, loan was avoided and Business Profits started immediately flowing,which otherwise would have taken years to expand and again years to bring cash flows.( And one thinks financial planner is only meant to pick best mutual fund or identify best return giving products and helps time markets)

A Great CA who gives personalise service and insights into your work or business finance,is always a great support ( Please note CA is not only to FILE TAXES and RETURNS, and do Accounting and Book-Keeping entries). Insight into not only finances, but to read those financial statements and what it says and how to take corrective action is a GREAT ADD-ON Value and you have probably never got such a CA or Probably never looked for such a CA.A CA who not only prepares , but helps you interpret the Business Picture and helps you identify and take corrective steps helps one not only tide over the bad times, but come out of it.
For Example: one of my clients CA in this April - May started literally pushing my client to sell off his business material stock of more than 2-3 years (which was actually about 50% of yearly turnover) and although they sold most at loss, now the same client is ready with cash flows and they have cleared off their 75% of loans, which has again improved their cash flows and again to add, they are more GST Compliant now.

5 Industry Experts

Within Industry
Having great insights when you are in with the Industry people is a lot to know and bring changes around.At an individual level one cannot have all round information of all within the Industry ( Like what customers think, what competitors think, what are newer technologies available, what government policy changes are happening, what those policy changes mean, and how to adapt to those changes etc.).When facing Challanges, in fact first insightful voice mainly comes from the industry.AND when in doubts, having positive within industry is a great boon.

Outside Industry
How a CA or a Legale firm expands and enters into partnership, is what I am learning from , for myself, to expand, as Financial Planning Industry is still going thru first phase kind of expansions and there is no proven method as yet.How to talk to different Industry people confidently and up your sales pitch, is what I can learn and implement, only when I meet and know people from various Industry.BELIEVE ME having positive, truthful and supportive people from various Industries is a huge advantage and especially in BAD Times they help turn the tide.( I can say this from experience, as I am a BNI Member and I meet various industry experts and learn a lot from them, the way the operate their businesses and the way they grow with positive mindset)

6 Meditation / Yoga trainer 

Meeting challanging situation requires BALANCED, CALM and PEACEFUL mind to remain grounded and confident.While all of the above people will help you find ways and be positive, supportive,confident and at the same time aggressive when required, its the MIND that will let you do this and Physical  with Mental Strength is of utmost importance to take LOGICAL DECISIONS and be adaptable to situations as and when required.All the above people will give ideas, logics, and insights, but to understand, decipher and implement with setting right the priorities.

Having all this people around will help you condition your mind and adjust to the situation, such that POSITIVE Changes are brought to ACTUALLY NOT ONLY SURPASS TOUGH TIMES, but COME out STRONGER, TOUGHER and RICHER. All these above GREAT people will help you condition and create the right mindset to not only SUCCEED, but ACHIEVE EXCELLENCE.

 "Never give up! Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine. If you give up tomorrow, you will never see the sunshine."- Jack Ma.

Am sure now you know, What these above QUOTES Actually means.
What it means to TRUST IN GOD
It is traditionally said " GOD IS WITH PERSON WHO IS COURAGEOUS", but to add, " Courageous with right people around to act positively "



DISCLAIMER : These are my thoughts and choices thru my experience and someone may feel otherwise on need of one of the above 6 persons,depending on self experience, need, the bad situation they are in, the intensity of the situation, how badly they want to come out of the situation and again the surroundings. 

Friday, July 28, 2017

TOP 3 REASONS - HOLDING YOU FROM BEING RICH (one of them is surely applicable)

People don't become wealthy by accident. You have to be determined to do the right things to create wealth. Since it starts with mindsets, we suggest that you nix these three common, yet costly, habits. 


1) Procrastination 

“I can’t afford to invest right now. I’ll do it next year once the company reinstates bonuses.” Sounds familiar? Procrastination is a bad trait in itself, but can be disastrous when it comes to investing. Procrastinate on your diet if you need to (not that we are suggesting it). But don’t delay on your savings plan. The longer you wait, the more it works against you. Compounding is a mathematical computation that works with time on its side. Don’t wait for your next bonus to invest. Also, as your salary or income increases, let the allocation to investments also rise. The more you delay, the more it reduces the amount of time your money has to work for you. If you had invested Rs 2,000 per year over a decade, the value of your investments at the end of the time period would be far greater than had you started investing Rs 4,000 per year halfway through that period. Let’s say that you start saving at the age of 25 with the purpose of accumulating Rs 1 crore by 65. For ease of understanding, let’s assume the rate of return as 9%. To amass this corpus, one would need to invest Rs 2,140 on a monthly basis for the next 40 years. Delay this exercise by just 5 years. If one starts investing at the age of 30, acquiring the same corpus would require an investment of Rs 5,460 every month. Alright, that too sounds doable. Now let’s push it back further. If one starts investing by 50, s/he would have to shell out Rs 51,700 every month for the next 10 years to reach the target of Rs 1 crore. Start now. 

2) Taking useless advice 

Cynicism isn't a particularly positive attribute, but it has its place. Be cynical of tips when it comes to investing. In fact, it makes sense to avoid them altogether. Tips are for waiters, not investors. When investing in an equity product – be it stocks or a mutual fund or any other asset class ( including real estate,Bonds, FDs, Post office Schemes,Employee schemes,Liability pre-payment), you need to make an informed decision. Besides tips, avoid hunches and speculation. Don’t risk gambling away your savings. To be a successful stock market investor, you need to think and behave like an owner. If you are buying businesses, it makes sense to act like a business owner. This means reading and analysing financial statements on a regular basis, weighing the competitive strengths of businesses, as well as having conviction and not acting impulsively. It also means you have to pay wisely for quality. The difference between a great company and a great investment is the price you pay. You decide to enter the stock market at a time of frothy valuations, you will have a very, very long wait to get a decent return on your investments. Similarly, don’t invest in a fund just because a friend or colleague or family member pointed out what a great run it had. Make the effort to understand the fund’s investing mandate and how it would fit in with your overall portfolio. 

3) Avoiding equity 

Investors can fall short of their financial goals for many reasons--key among them is under saving. But even if you are saving sufficiently but not giving the savings a chance to grow, you could be high on shortfall risk. If you are avoiding equity on the premise that it is more volatile and hence more risky, you are not seeing the whole board, to borrow an analogy from chess. Where your long-term goals are concerned, don’t shy away from maintaining an equity exposure in your portfolio. If you choose to do so, you could be jeopardising your entire financial plan. No one is suggesting you go out and randomly invest in equity. If you do not have the expertise to buy into stocks, consider equity funds that are consistent and invest in them systematically.  For instance, the 10-year annualised return of the flexi-cap category of equity mutual funds is around 11%. Do note, this is just the category average. There would be funds that have delivered much more. Or take the case of the mid- and small-cap category over the same time period - 13.18%. Not only is this  much higher than what you would get in a fixed return instrument, it also has no tax implications in the sense of long-term capital gains being nil in equity mutual funds. Neither are we suggesting that your entire portfolio be tilted towards equity—there are various considerations that will go into such a decision, namely your age, the number of years you have left before you throw in the towel, various sources of income, and your risk capacity. But a too-conservative portfolio--one that emphasizes cash and fixed deposits and bonds at the expense of stocks--can actually enhance shortfall risk. Have a sensible asset allocation fine-tuned to your circumstances.
( ABOVE ARTICLE IS SHARED BY MORNINGSTAR AND EXACTLY reproduced here for thought matches and eachone to self-judge-FINALLY you need to ensure you want to be RICH, not doing any one of the above THREE)

ALSO BONUS READ-Similar TOPIC detailed article in Times of India-