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

Cut Your Losses Fast


And here’s why……..

wealthymatters

What’s the chance that your losers will give the sort of chart busting returns to recoup your losses?In the mean time you are losing the chance to earn at least savings bank returns on your money.You don’t get to spend the sort of money your managers are losing you.Inflation is making the remaining less valuable.And you are losing out on money you could make by reinvesting in better avenues.

Its painful to lose money but more painful to stick with the losers.

 

J Paul Getty On The Essence Of Successful Investing


wealthymatters

The Way To Billionairedom


wealthymatters.com

The Dam Analogy


wealthymatters.comA river and a dam across it is a nice way of visualizing one’s finances.A source of income is like a river.To save a bit of it is like building a dam across the income stream.

In real life dams are used to impound water in times of plenty so that it can be used when water is scarce.Deducting money from a salary cheque to fund one’s pension or investing regularly in a mutual fund  via a SIP , is like holding back water in the time of plenty to use when water is scarce.If a person comes by a windfall,say, by selling a business/ winning a lottery/receiving an inheritance etc. and saves/invests the money safely,it is akin to storing rainwater from a freak shower for use later. Read more of this post

%d bloggers like this: