Advertisements

Lord Krishna And Sudama On Akshaya Tritiya


wealthymattersThe most famous of the Akshaya Tritiya stories is the legend of Lord Krishna and Sudama, his poor Brahmin childhood friend. On this day, the tale goes, Sudama came over to Lord Krishna’s palace to request him for some financial help. As a gift for his friend, Sudama had nothing more than a handful of beaten rice or ‘poha’. He was utterly ashamed to give it to Lord Krishna, but Lord Krishna took the pouch of ‘poha’ from him and relished having it.

Lord Krishna followed the principle of ‘Atithi Devo Bhava’ or ‘the guest is like God’ and treated Sudama like a king. His poor friend was so overwhelmed by the warmth and hospitality shown by Lord Krishna, that he could not ask for the financial favor and came home empty handed.

Lo and behold! When he reached his place, Sudama’s old hut was transformed into a palace! He found his family dressed in royal attire and everything around was new and expensive. Sudama knew that it was a boon from Lord Krishna, who blessed him with more than the wealth he actually intended to ask for. Therefore, Akshaya Tritiya is associated with material gains and wealth acquisition.

Advertisements

Satyug Gold Purchase Plan


wealthymattersTomorrow is Akshaya Tritiya,and the gold fever is spreading.A lot of people have seen pricey ads like the one to the left and asked me if its a good deal and whether they should go for it.Here is my answer:

I know neither Shilpa Shetty nor Raj Kundra personally.Obviously they make money.But how steadily is something I don’t know.Nor exactly how much.I see their names associated with a lot of new businesses.They leverage their celebrity status.They have their money in start-ups but just what assets they have and where and how any personal guarantees can be enforced,is something I can’t tell you.And the Satyug Gold Purchase Plan is nothing more than an entrepreneur’s promise to pay.An unsecured promise to pay.And as such I will analyse the product.

All business people,as long as they have a reputation of being reasonably reliable and not thieves, have access to funds from other business people.The credit is unsecured and of short term duration and the interest is over 2% per month.Some negotiation might be possible but not all that much.

Various companies come up with fixed deposit schemes.They offer some financial statements of various levels of reliability for us to peruse.Currently company deposits give you round 13%pa.

In case of the  Satyug Gold Purchase Plan,depending on the tenure you choose, you get a discount on the day’s gold price.And a year later you get delivery of the quantity of gold you purchased,irrespective of the then price.So first off, you bear the price risk which will determine your final returns.Then,assuming that the price of gold remains constant at the Rs 28,000 per 10 grams,you get returns ranging from:15% to 9%.And they are neither fixed nor predictable.

So,now its your call if you feel adequately compensated for the risk of total capital loss by these rates.My only advice is to go for the 1 year option if you must.At all costs avoid the multi-year options as even ordinary FDs are better risk adjusted options.

Charity On Akshaya Tritiya


wealthymattersAkshaya Tritiya is considered an auspicious day by Hindus  If you are coming in late,you can read more about it here.Buying precious metals,making investments, buying properties, starting businesses and buying household goods are major activities people schedule for this day.Giving,daan i.e. charity is another major activity of the day.

The traditional belief is that whatever is given away freely with a good heart returns manifold.To do so on this auspicious occasion is to multiply the returns manifold.Giving implies that you have the good fortune to be in a position to help/give. So by giving on this day, people hope to be in a position to give more in the years to come,1.e. become more prosperous.

The common belief is that:

  1. If you do charity on this day, you will conquer the pain of death.

  2. If you help the poor and down-trodden, you will be blessed in your next birth.

  3. If you give clothes to poor people, you will get over diseases. Read more of this post

Gurupushyamrut


Hindus consider certain days like Dhanteras, Akshaya Tritiya etc. auspicious for new endeavours.Today is Guru Pushyamrut Yoga,an auspicious mahurat ,i.e. a propitious  time to start new ventures.

According to Hindu astrology,the favourable alignment of stars on the day of Guru pushyamrut makes it ideal for new beginnings and  results in good -luck,success and prosperity.Pushya means to nurture,strengthen or multiply.Pushya is one among the 27 Nakshatras in Hindu astrology.Gurupushyamrut or Guru Pushyamrut Yoga is the day when the Pushya Nakshatra falls on a Thursday/Guruvar.In Hindu astrological terms there is amrut or amrit on the day and Guru Pushya Nakshatra Yoga helps convert your good effort to good luck.

The  planet Lord Brihaspati,i.e.,Jupiter/Guru,who is believed to be the preceptor pf the Gods,is believed to have originated in Pushya Nakshatra.Lakshmi,the Goddess of Wealth was born on Pushya Nakshatra.Hence the day is believed to be doubly good for building good fortune.

On this day,prayers are offered to Goddess Lakshmi and her blessings are sought,Buying gold on this day is believed to bring good luck,prosperity and wealth.It is also believed to be advisable to buy silver,gemstones or diamonds,start new businesses,buy property and other investments,do grahpravesh puja (house warming) and vidhya aramb (start schooling) on this day.

Akshaya Tritiya Facts


wealthymatters.com

%d bloggers like this: