Tool Kit | wealthymatters

6 Ways to Turn Desires into Gold

September 13, 2011 1 Comment

wealthymatters.com The following is an excerpt from Napoleon Hill’s ‘Think and Grow Rich’

The method by which desire for riches can be transmuted into its financial equivalent, consists of 6 definite, practical steps,viz:

FIRST:fix in your mind the exact amount of money you desire.It is not sufficient merely to say “I want plenty of money.”Be definite as to the amount.

SECOND:determine exactly what you intend to give in return for the money you desire (There is no such reality as ” something for nothing

THIRD:establish a definite date when you intend to possess the money you desire.

FOURTH:create a definite plan for carrying out your desire and begin at once,whether you are ready or not, to put this plan into action. Read more of this post

Filed under Tool Kit Tagged with Napoleon Hill, postaday2011, RandomBlog2011, Think and Grow Rich

www.thomasjstanley.com

September 12, 2011 1 Comment

wealthymatters.com Ever since I first read ‘The Millionaire Mind’ I’ve always been interested in the insights of its authors.Today I was lucky enough to stumble onto the thomasjstanley blog.I found the few posts I read at random pretty useful.I thought I’d record the find here and refer to it on and off and that my decisions are not wealth destroying.(http://www.thomasjstanley.com/)

Filed under Tool Kit Tagged with postaday2011, RandomBlog2011, The Millionaire Mind, Thomas J. Stanley

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

3 Major Investments of the Wealthy

September 2, 2011 1 Comment

The wealthy are wealthy because they have superior skills in making and keeping wealth.All of them make it a priority in life to invest in the following 3 things.They cultivate habits that allow the to automatically invest in them.

1. Wealthy people invest in income producing assets.

It’s easier to grow your wealth if you have many sources of income.It easier still if you have many streams of passive income.Now all wealthy people quickly find asset classes that they are comfortable with and make it a point to acquire as many income producing assets in that class as possible-and the bigger the better. Read more of this post

Filed under Theory, Tool Kit Tagged with family, income producing assets, invest in oneself, invest in relationships, Investments of the wealthy, mentor, network, passive income, postaday2011, RandomBlog2011

Stridhan

August 31, 2011 35 Comments

wealthymatters.com Stridhan is a combination of two Sanskrit words ‘Stri=Woman’ and ‘Dhan=Wealth’ which put together means ‘Woman’s property’. Stridhan is a traditional property right of Hindu women accepted by Indian Hindu Society.Stridhan ensures a women’s economic independence.

Except for a few restrictions during coverture, a Hindu woman is the absolute owner of her stridhan.Any dues from her can also be recovered from her stridhan.Also, a woman who does not wish to accept stridhan cannot be forced to do so; she can choose to accept or reject the gifts given to her as part of the stridhan.Usually stridhan is passed from a mother to her daughters as per her wishes but as the sole owner of her stridhan a woman can will it away as she pleases.On her intestate death, all types of Stridhan, devolved upon her heirs in the following order:

upon the sons and daughters (including the children of any pre-deceased son or daughter) and the husband,
upon the heirs of the husband.
upon the heirs of the father, and
upon the heirs of the mother. Read more of this post