April | 2012 | wealthymatters

How Wealthy Would You have Been In America?

April 25, 2012 4 Comments

wealthymatters.com In India,as in other parts of the world, many people believe that migrating to the US is a sure shot way to wealth.Ofcourse,given the exchange rates, earning in USDs, or for that matter in GBPs,Euros,CHFs,CADs,AUDs,SGDs might make a person very rich in rupee terms.But expenses to maintain the living standards a person might take for granted in India,such as house help will use up a large part of one’s dollar earnings.Then the investment options available are entirely different and steeper taxes eat into one’s wealth.

Here are a couple of calculators to help you see what you might be potentially worth in the US. http://cgi.money.cnn.com/tools/networth_ageincome/index.html .If you are worth more than the median figures the calculator throws out, pat yourself on the back for doing a good job.Moreover given a purchasing power parity of 16 know that your rupee equivalent will just stretch so much more in India.Add in the new opportunities opening up in a rapidly changing India,and perhaps by staying home you don’t have such a bad deal after all!

Of course it’s great if you can earn in USD et, al and spend in INR,and enjoy the best of all worlds!

Filed under Tool Kit Tagged with Becoming rich in America, Becoming wealthy in America, exchange rate, net worth, postaday, purchasing power parity

Akshaya Tritiya Facts

April 21, 2012 2 Comments

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Filed under Theory Tagged with Akha Teej, Akshaya Tritiya, buying gold, Navanna Parvami, postaday

Are You Rich?

April 19, 2012 Leave a comment

wealthymatters.com There are many levels of riches and wealth.Wealth is good and wealthier is better but wealth without happiness and contentment is nothing great.If ever you feel less than fortunate materially,here is a list you can read to feel better immediately.

Got $2200? In this world, you’re wealthy. Assets (not cash) of $2200 per adult place a person in the top 50% of the world’s wealthiest.

If you made $1500 last year, you’re in the top 20% of the world’s income earners.

If you have sufficient food, decent clothes, live in a house or apartment, and have a reasonably reliable means of transportation, you are among the top 15% of the world ’s wealthy.

Have $61,000 in assets? You’re among the richest 10% of the adults in the world.

If you earn $25,000 or more annually, you are in the top 10% of the world’s income-earners. Read more of this post

Filed under Tidbits, Tool Kit Tagged with Are You Rich ?, assets, Income, income earners, postaday, Rich, Wealthy

The Wisdom Of Our Ancestors

April 7, 2012 3 Comments

wealthymatters.com Here is an excerpt from an interesting from the interesting article here:http://tsr.net.co/2011/07/sone-ki-chidiya-india/911

India is one of the largest importers of gold in the world. As per World Gold Council, a total of 158,000 tonnes of gold have been mined till date. Out of this Indians’ private holdings is considered to be the highest at 15,000 tonnes. American citizens’ holdings is a mere 4000 tonnes.

The estimates of private holdings with Indian citizens vary from 15,000 tonnes to 25,000 tonnes. Even accepting the lower estimate of 15,000 tonnes at current prices of approx US $ 1500 per ounce, the valuation of the Indian private holdings is equal to US $ 725 billion.

India’s GDP is around 1.5 Trillion US $. If our economy has a growth rate of 8 %, the GDP increases by US $ 120 billion. In the last one year, gold has appreciated from approx 1250 $ per ounce to 1500 $, an appreciation of over 20 %. In view of the rupee getting stronger against US $, the appreciation in rupee terms is lower at about 15%. If the above rate is applied to the Indian household holdings of gold, the value of Indians gold holdings has gone up in the last one year by about US $ 90 billion. Read more of this post