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Richard Wiseman’s Experiment

August 22, 2014 Leave a comment

wealthymatters Psychologist Richard Wiseman surveyed a bunch of people to find out who considered themselves lucky or unlucky, then performed a very interesting test:

He gave both the “lucky” and the “unlucky” people a newspaper and asked them to look through it and tell him how many photographs were inside. He found that on average the unlucky people took two minutes to count all the photographs, whereas the lucky ones determined the number in a few seconds.

How could the “lucky” people do this? Because they found a message on the second page that read, “Stop counting. There are 43 photographs in this newspaper.”

So why didn’t the unlucky people see it? Read more of this post

Filed under Entrepreneurship, Theory, Tool Kit Tagged with how to be more lucky, lucky, postaday, Richard Wiseman, unlucky

Generation Gap

August 22, 2014 Leave a comment

wealthymatters

“I spent 35 years building a 100 crore trucks business and you want to be a bungee jumper?”

“Dad, I don’t want to be a bungee jumper. I want to start an adventure tourism company”.

“That means what? A tour guide? You’ll take foreigners to some rock in Himachal and make them jump? You went to Harvard B School.”

“That’s exactly why I don’t want to spend my life negotiating with Jharkhand toll booth operators”.

This was conversation I was privy to last week between a successful 60-something Mumbai businessman and his 30something son. The father fought his whole life against an insanely bureaucratic system and built his business. A Herculean task in a time of 97% taxation, sporadic socialist agendas, petty cronyism, suspicion of businessmen.He dug in for the long war against safari-suited socialists, teethgritted, thrived and won. Today, the entrepreneur saw the Arabian Sea from his penthouse. On the verge of handing over his 50-city trucks empire to his only son. There was only one problem. His son didn’t want it. Read more of this post

Filed under Theory Tagged with generation gap, handing over the business, heir to the business, postaday, succeeding to the business, taking over the business

The Home Loan Deposit

August 21, 2014 1 Comment

wealthymatters The Reserve Bank of India (RBI) has decided to encourage banks and individuals to be actively involved in home loan deposits, a savings product that will help showcase the repaying ability of customers seeking to borrow money to buy a house.

The RBI feels that there is a felt need for financial innovation with respect to loan products and one such product could be savings-induced home loan or a home loan deposit.

The willing customer will be induced to generate a savings balance by way of monthly or periodic deposits. This will enable the creation of a track record for repayment of future home loan products. Once a customer reaches a threshold balance, financial institutions will consider sanctioning a housing loan. The balance in the product would act as a collateral or margin. The amount deposited every month would act as the basis of assessing repayment capacity of customers for calculating their monthly repayments.

Such a product will aid the Indian government’s efforts to promote affordable housing. The government has already laid out a plan to create 100 smart cities with the aim of “housing for all by 2020“ while reducing interest rates on home loans. This product may help lower interest rates as well, with better appraisal of potential borrowers.

Filed under Alternative Assets, Paper Assets Tagged with home loan, home loan deposit, investing in a home, mortgage, postaday, saving for a home

The Market Value Of Beauty

August 21, 2014 Leave a comment

wealthymatters Supermodel Linda Evangelista famously wouldn’t get out of bed for less than $10,000; this year it could be said Gisele did not leave the house for less than $128,000 a day. This Brazilian supermodel made $47 million in the last 12 months before taxes and fees, making her the world’s highest-paid model for the eighth year in a row.

Along with lucrative contracts for H&M, Chanel, and Carolina Herrera, Gisele gets a cut of sales from the jelly sandals she designs for Brazilian shoemaker Grendene. The face of Pantene hair products and Oral-B in Brazil, Bundchen’s line of Hope lingerie — Gisele Bundchen Intimates — also plumps up her earnings.

Gisele Bundchen has an estimated net worth of $290 million.