Keerthika Singaravel

Just How Well Off Are You?

September 8, 2011 Leave a comment

wealthymatters.com Do you know if you are a HNI? Or if your income makes you rich in India?

Envy and jealousy are pretty useless but there’s nothing like goal setting to get where you want to be wealth wise. It helps to know just where you stand.

According to the National Council for Applied Economic Research (NCAER), you are rich if your family’s annual household income exceeds Rs 17 lakh.There are 3 million rich households in India comprising some 16 million individuals.So 1.38% of Indians are rich in income terms.

However income doesn’t equal wealth just as being rich doesn’t mean being wealthy.For more on this distinction please refer to this older post here: https://wealthymatters.com/2011/01/26/the-definition-of-income-and-wealth/ . Read more of this post

Filed under Theory, Tidbits, Tool Kit Tagged with annual household income, Billionaires, Credit Suisse’s Global Wealth Report, HNI High Networth Individual, Income, Indian wealth pyramid, Millionaires, net worth, postaday2011, RandomBlog2011, Rich, wealth, wealth pyramid

Ek The Dhirubhai – There Was Once A Dhirubhai

September 7, 2011 1 Comment

Here is a documentary on Dhirubhai Ambani I found on the internet.I’m afraid it is in Hindi and I’m sorry I can’t find a copy with subtitles.

This documentary was apparently aired on News 24 which I don’t have so I missed it when it was first aired.I got to see some rare pictures of Dhirubhai here.It was also nice to hear his neighbours and associates describe him.What struck me most was how Dhirubhai never discouraged any beginner from starting out in his own field.I would love to have that sort of self-assurance.

Do watch the videos below and enjoy!

Quotes From Dhirubhai Ambani

September 6, 2011 55 Comments

wealthymatters.com

Personally I admire Dhirubhai Ambani’s way of not letting other people circumscribe his dreams.I believe that if a person can dream up something he/she can do it.It may take time and effort and persistence but its not impossible. Personally I believe dreams are worth fighting for because they are a representation of out truest self and out innate abilities.Anytime I have self doubts I find that reflecting on incidents from his life gives me courage.After all life has not tested me in the way it did him.And anytime anybody tells me that something is undoable in one lifetime I just tell myself to see how far Dhirubhai came in one lifetime.Following are some quotes from the great man.Use them to spur you on in life.

“Only when you dream it you can do it.”

“For those who dare to dream, there is a whole world to win!”

“I, as school kid, was a member of the Civil Guard, something like today’s NCC. We had to salute our officers who went round in jeeps. So I thought one day I will also ride in a jeep and somebody else will salute me.”

“I am deaf to the word “no”.” Read more of this post

Filed under Entrepreneurship, Theory Tagged with Dhirubhai Ambani, Dreams, entrepreneur, Entrepreneurship, post a day, Quotes, RandomBlog2011, Reliance

Ambani Family Tree

September 5, 2011 15 Comments

Here is the Ambani Family tree. It should come in handy while reading about the Ambani Empire.Its interesting to see what role family played in the early years when Dhirubhai was starting out; How family helped with expansion and how the family now distributes the responsibilities of running of the empire amongst itself.

wealthymatters.com

Filed under Tidbits Tagged with Ambani Empire, Ambani Family Tree, Dalal, Dhirubhai Ambani, Kothari, Meswani, Patel, postaday2011, RandomBlog2011, Salgaocar

Money Created by Banks

September 4, 2011 2 Comments

wealthymatters.com

For all of you who have been watching the Paul Grignon videos here is a little something about money created by banks.

The basic text book view is that commercial banks create money through fractional-reserve banking,i.e. the banking practice where banks keep only a fraction of their deposits in reserve (as cash and other highly liquid assets) and lend out the remainder, while maintaining the simultaneous obligation to redeem all these deposits upon demand.Commercial bank money is non-physical, as its existence is only reflected in the account ledgers of banks and other financial institutions.Also there is some element of risk that the claim will not be fulfilled if the financial institution becomes insolvent.So central banks make deposit insurance mandatory for banks. Read more of this post