wealthymatters

Something To Remember

August 17, 2013 Leave a comment

“There is a tide in the affairs of men, which, taken at the flood, leads on to fortune.Omitted, all the voyage of their life is bound in shallows and in miseries. On such a full sea are we now afloat, and we must take the current when it serves, or lose our ventures.”

This is the quote from Shakespeare’s Julius Caesar that Paul Allen used to persuade Bill Gates to quit Harvard and set up their own software company.

Right from their school days Paul Allen and Bill Gates believed in the possibility of a PC in every house.The arrival of the Altair 8080 convinced Paul that the time was right to take a plunge.

The rest is history.So there’s something to allowing yourself to be swept along by historic currents.

Filed under Entrepreneurship, Tool Kit Tagged with Bill Gates, Paul Allen, postaday, right time to start, right time to take the plunge, start-up

Great Gifts For The Festive Season

August 16, 2013 4 Comments

wealthymatters

After the government raised the duty on gold to 10%,its made import of stylish ornaments form Hong Kong,Turkey,Italy and Thailand attractive.

If you plan on buying gold this festive season,do think of picking up such pieces.You’re not likely to pay such a large premium for design and foreign origin.And they are likely to add value to your wardrobe.

If the government continues in this line,goldsmiths are likely to go the way of silversmiths in India.This would indeed be a pity. Just comparing today’s artisanal work with that of our mother’s or grandmother’s time shows us the fall in standards due to the decline in the long apprenticeships served by goldsmiths of the yesteryears.

Filed under Tidbits Tagged with gift gold, gift gold ornaments, Hong Kong Gold Jewellery, Italian Gold Jewellery, postaday, Thai Gold Jewellery, Turkish Gold Jewellery

New Foreign Remittance Rules

August 15, 2013 2 Comments

wealthymatters The RBI has lowered overseas remittances by locals to $75,000 a year from $200,000, and prohibited investments in overseas property. Those in genuine need of foreign exchange beyond $75,000 per year need to apply to the central bank for permission.

Filed under Tool Kit Tagged with capital controls, foreign remittances, individual remittances, investing in property overseas, outward remittances, postaday

The Cost Of Foreign Education

August 15, 2013 2 Comments

Filed under Tool Kit Tagged with cost of foreign education, cost of studying abroad, postaday

All About Bitcoins

August 15, 2013 2 Comments

Founded in 2009, Bitcoin is a digital currency that is not issued by any central bank or other centralized authority but by an open source software through a process called ‘mining’. Globally, there are over 11 million Bitcoins in circulation worth over $1.2 billion.Over 80% of Bitcoins today are traded on a Tokyo-based digital currency exchange called Mt. Gox. At present, India does not have a centralized Bitcoin exchange, but users in India can buy and sell coins through websites such as localbitcoins.com. The community here is believed to be some 50,000-strong, with as many as 23,000 India based users having an online Bitcoin wallet where the digital currency is stored.

Bitcoin is a cryptocurrency, Cyrptocurrency is a form of digital currency used over the internet for trading or payment for services. The currency is finite in number to keep inflation rates low and uses peer-to-peer transfer technology. It is encrypted using cryptography for security and hence cannot be easily counterfeited. It can be transferred from a computer or a smartphone to another anonymously and cannot be tracked. The value of such a currency is usually determined by supply and demand — similar to precious metals like gold. Read more of this post