Tool Kit | wealthymatters

Self-Acquired and Ancestral Property

August 30, 2011 503 Comments

wealthymatters.com After a person dies, there are often pretty big rifts in the family.Hidden stresses come out in the open and contesting claims to the deceased person’s property is fairly common.The problems are compounded by the fact that the law defines self acquired and ancestral property differently from common parlance.

According to the law for Hindus,self acquired property is any property purchased by an individual from his resources or any property he acquired as a part of the division of any Ancestral/Coparcenary property or acquired as a legal heir or by any Testamentary document such as ‘Will’ etc. Read more of this post

Filed under Theory, Tool Kit Tagged with ancestral property, coparcenary property, inheritance, postaday2011, RandomBlog2011, self acquired property

How To Grow A Business

August 30, 2011 3 Comments

This is a list of 10 steps to grow your business from scratch.You have to put in some time ,a bit of your labour and maybe a bit of your savings at the beginning and then bootstrap your way up.It is inspired by the post here:- http://7million7years.com/2011/08/26/why-most-business-owners-are-not-wealthy/

Find something you can make or something you can do that somebody else will pay you for.
Find out if others will pay you to make or to do the same thing for them too.
If the answer is yes to point 2,find out ways of locating other such customers.
Make a detailed note of how to go about finding and getting customers the fastest,easiest and cheapest way. Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with !0 Steps To Grow Your Business, automation, Bootstrapping, capital expenses CAPEX, deskilling, Entrepreneurship, mechanization, outsourcing, postaday2011, profits, RandomBlog2011, software, working capital

Life Lessons From the Very Wealthy

August 22, 2011 1 Comment

wealthymatters.com 1. Having money is better than not having money.

Money may not buy you happiness, but it buys many other important things. Like financial security, excellent health care, education, travel and a comfortable retirement.

2. Don’t become “cash rich” and “time poor.”

Devoting all one’s waking hours to making money is a problem that especially plagues professionals. Lawyers, doctors, bankers and accountants can get so caught up in the competitive nature of their jobs that they lose touch with their family. Any semblance of a normal personal life disappears, and a very unhealthy balance between work and home develops.

Work is the process of exchanging time for money.If you are working so much to become rich but you ignore your spouse and miss seeing your kids grow up, you are actually poorer than you realize. Read more of this post

Filed under Theory, Tool Kit Tagged with cash rich time poor, Goals, Lessons from the Wealthy, lifestyle leverage, luck, planning, postaday2011, RandomBlog2011, vision, work

21 Success Secrets of Self-Made Millionaires

July 30, 2011 5 Comments

wealthymatters.com Brian Tracy cites a startling statistic:By age 65, out of 100 people, 1 will be wealthy, 4 will be financially independent, 15 will have some savings set aside and the other 80 will be flat broke, busted and dependent on others for survivals.

Brian Tracy believes that cultivating the following list of habits will automatically make a person wealthy in time. Practicing these habits, Brian personally went from an income of $12,000 to over $150,000 a year in a very short time and then on to several million dollars. Here is more about the man: http://en.wikipedia.org/wiki/Brian_Tracy

Brian Tracy’s Laws of Money

July 30, 2011 2 Comments

Here are Brian Tracy’s ’21 Laws of Money’.I find them a pretty powerful set of beliefs to have about money.

1. The Law of Cause and Effect: Everything happens for a reason; there is a cause for every effect.

2. The Law of Belief: Whatever you truly believe, with feeling, becomes your reality.

3. The Law of Expectations: Whatever you expect, with confidence, becomes your own self-fulfilling prophecy.

4. The Law of Attraction: You are a living magnet; you invariably attract into your life the people, situations and circumstances that are in harmony with your dominant thoughts. Read more of this post