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JP Morgan’s Summer Reading List

Every June, J.P. Morgan Private Bank sends its wealthy clients its official “Summer Reading List,” a collection of 10 books specifically chosen to appeal to the tastes and preoccupations of the wealthy. It is like a virtual book club for billionaires.If you want to know what the wealthy will be reading this summer take a look at this list of books.JP Morgan picked these books for their inspirational messages, thought-provoking content and stunning detail.

wealthymatters.comIn”Passion and Purpose,” dozens of recent Harvard Business School MBAs share personal stories on assuming the mantle of leadership in ways unlike any Read more of this post

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The 64 Arts Of The Kama Sutra

wealthymattersAt the outset let me assure you this is a child safe article.So please don’t navigate away on that account.I was inspired to writ it after reading about The Beijing Moral Education Center for Women here : http://www.reuters.com/article/2011/07/15/us-china-billionaires-idUSTRE76E0QP20110715

I suppose that advancing oneself by marrying well is a time honoured way to make one’s fortune, no matter how politically incorrect it might be today.In a bygone era girls’ schools offered home science or home economics courses.There were Womens’ Academys and Finishing Schools and at the pinnacle the Swiss Finishing schools like the one here :http://www.ivpworld.com/EN.html .Mostly the idea was to equip young girls with the skills to attract well- to- do partners and to skillfully manage their husbands’ households. Read more of this post

The Dalai Lama On Man,Money And Living

wealthymattersHere are some wise words from the Dalai Lama to help us live a truly rich life.

Which step have you reached today?

Keerthika Singaravel:

Here are the changes in thought patterns you need to bring about to get things done.Change your negative thoughts about money and see how soon your fortunes change.

Originally posted on Sheedaalitalpur's Blog:

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What Makes You Well Off In America ?

wealthymattersThe calculator in the post  How Wealthy Would You Have Been In America ? puts out median figures of net worth of Americans depending on age and income.The median value is the quantity lying at the midpoint of a set  of observed values or quantities.

The figures in the post What Americans Consider Rich are the opinions of  the people surveyed by Gallup.

The figures below reveal the ground reality.They show where ,what a person makes puts them on the income pyramid and what a person has salted away puts them on the net worth pyramid. Read more of this post

Julius Baer Lifestyle Index

wealthymattersThe government may publish inflation figures fortnightly,but these are for industrial workers,agricultural workers etc.Inflation obviously varies depending on a persons lifestyle and consumption habits.Have you ever wondered whether there is an increase in the cost of living a luxurious lifestyle?If so by how much?

Now there is a way to answer all these questions.The Swiss Private bank Julius Baer has constructed a Lifestyle Index to capture the rise in price of luxurious living in Asia.

The Julius Baer Lifestyle Index is based on a basket of 20 luxury goods and services that represent discretionary purchases of HNWI in the four major Asian cities: Hong Kong, Shanghai, Singapore and Mumbai. Properties are accorded the highest weight of 30% and cars the next highest weight at 10%.The list does not purport to represent the comprehensive spending patterns of HNWI in the region,but rather an indication of how various items they spend on have risen by. While properties and cars have a combined 40% weight, Julius Baer has given an equal weight for the other 18 items in the index to sum to 60%. Read more of this post

Confusing Real Wealth And Paper Wealth

wealthymattersOften people see the SENSEX/NIFTY values,property prices etc. and the GDP as one and the same or as proxies for each other.After all if the economy is good, the GDP and stock indices , property prices etc. are expected to rise.By doing so people are confusing real wealth and paper wealth.This confusion  especially happens to people who own stocks.And today an increasing number of people  own stocks,if not directly than through mutual funds.Incidentally, even debt mutual funds might have an equity component.In the insurance front, not just ULIPS but also the bonuses in traditional products are dependent on stock market returns.Blended funds in child plans and pensions also have an equity component.So today, many people with no intention of dabbling in stocks still have an equity exposure and are prone to confusing the rise in paper wealth due to valuation gains with a rise in real wealth. Read more of this post

Talking To Children About Money


“Parents need to make talking about money a rite of passage with their children.The most successful families talk about finances early and often, making children feel involved, empowered, and better prepared for the future.”

—-Michael Farrell, Managing Director for SEI Private Wealth Managemen Read more of this post

Doomsday Investing

wealthymattersThe world economy is far from the pink of health,but I don’t think that the end of the world ,as we know it, is upon us.However I do believe in having a wealth pyramid in place.If your are coming in late,you can read more about it in an older post here: http://wealthymatters.com/2011/09/30/wealth-pyramid/#more-1948.And the time for building an ark is long before the deluge…..

The wealthiest in the world have the most to lose in a crisis.They also often care the most about not losing it all.Moreover they have the money and the contacts to put in place the most elaborate fall back plans.The following are some actions that wealthy people in different parts of the world seem to be taking to limit the damage to their fortunes.( http://www.reuters.com/article/2011/10/04/us-wealth-summit-investment-idUSTRE7933LS20111004) Why not be influenced a little bit by them?Especially with a little part of the funds lying at the bottom of the pyramid?The worst that could happen is that nothing happens and we feel foolish.On the other hand if we wait till there is blood on the streets,it might be too late to do anything much. Read more of this post

Billionaire’s 10 Keys To Success

wealthymatters1. Figure out what you’re so passionate about that you’d be happy doing it for 10 years, even if you never made any money from it. That’s what you should be doing.

2. Always be true to yourself.Figure out what your values are and live by them, in business and in life.

3.Think about what your definition of success really is. Is it externally driven or internally driven?

4. Rather than focus on work-life separation, focus on work-life integration. Read more of this post


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