Tool Kit | wealthymatters

Ticketless Travel Insurance

October 2, 2013 2 Comments

wealthymatters

Here is an interesting post I came across today via the Freakonomics blog.I’m struck by the deshi jugaad-an ingenious solution to save a few rupees and avoid wasting time and energy waiting in the serpentine queues at the ticket window in case you’re not a regular monthly pass holder

.\In a crowded (understatement) local train in Mumbai, where there’s hardly any breathing space, what are the chances that a TC (ticket checker) walking into the train and checking for tickets?

Mumbai suburban railway system daily carries more than 6 million commuters on 3 corridors – central, western & harbour. 6 million commuters on these trains means that the task for the authorities is extremely difficult. Ensuring that all these commuters pay for the tickets is next to impossible for the railway authorities. The system to discourage ticketless travel has to rely on random ticket checking and the chances are that you will escape getting caught more often than not, while travelling without a ticket. However, if more and more people think that ticketless travel is harmless, the chances of them getting caught in the random check will obviously increase. This keeps the number of ticketless travellers in check. Read more of this post

Filed under Entrepreneurship, Tool Kit Tagged with postaday, saving on transport costs, ticketless train travel, ticketless train travel insurance

Changing Spending Habits of Indians

October 2, 2013 2 Comments

Here’s some help in comparing your spending with that of the majority of the country.Also you can use the information to project your own spending patterns in future.Being wealthy means you can live off passive income.So accurate expenditure projections are essential to ensure that living standards remain at at desired levels w.r.t. the rest of the population.

The graph above also points to potential areas to start businesses in and companies whose stocks you can invest in.

Filed under Entrepreneurship, Paper Assets, Tool Kit Tagged with discretionary spending, postaday, spending habits, spending on necessities

Big Business Style Legitimate And Bona Fide Transactions

September 30, 2013 Leave a comment

Licences and large sunk costs are entry barriers.And its small wonder that big money always want to grab licences.Even if businesses are not built round licences,licences are tradeable and so there is always a scope to grow one’s money by doing so.Also owning companies allows people to be part of interesting deals.

After studying the Radia tapes and investigating the matter, the Serious Frauds Investigating Office has uncovered the above money trail.The accused parties maintain that these are legitimate and bona fide real estate transactions.Watching how the case proceeds through the courts and how the political class deals with it,is going to be very educational.

Filed under Alternative Assets, Entrepreneurship, Theory, Tool Kit Tagged with 2G Scam, investing in licences, licence, postaday, Radia tapes, Tata Reality & Infrastructure Limited, Tata Sons, Tata Sons investments, trading in licences, Unitech, Unitech Wireless

Cut Price Boats

September 29, 2013 Leave a comment

wealthymatters

Just like cars and bikes pre-owned boats can be picked up at steep discounts to the original price.In fact, there is the highest likelyhood of bargains on yachts and boats because the market is itself pretty limited.Also buying a secondhand craft makes sense as buying a new yacht has become more expensive because of the increase in the import duty to about 48% and the rupee depreciation.

Mumbai-based companies like West Coast Marine Yacht Services, Ava Marines and Marine Solutions, which sell imported yachts and boats, also deal in used ones. For example,West Coast Marine has a portfolio of about 20 pre-owned machines, available between Rs 5 lakh and Rs 5 crore, depending on the size, brand, age and the engine hours clocked. Read more of this post

Filed under Alternative Assets, Tool Kit Tagged with 31 SF, 31 Walk Around, Ava Marines, import duty on yachts, Majesty 66, Marine Solutions, pre owned boats, pre owned yachts, Prestige 55 footer, Sea Ray 350 Sundancer, second hand boats, second hand yachts, used boats, used yachts, West Coast Marine Yacht Services

Super Bike Deals

September 28, 2013 Leave a comment

wealthymatters

Perhaps more than luxury cars,superbikes are more your thing?Be sure you can get them at a discount too if you are willing to buy a per=owned machine.And if you are lucky,the previous-owner might have forked out big time for enhancements and customizations.

You could source such bikes from Shreyans Auto,But the selection is a bit limited.

The second-hand market for super bikes is not organised. The news is spread word-of-mouth and through social networking sites.A good place to start looking for a second hand Ducati,BMW ,Honda,Yamaha or Suzuki superbike is Prince Raj Kapoor’s FB page.He makes anout 20.000 rs per sale.Alternatively you could try to network on bikedekho.com Read more of this post