postaday2011 | wealthymatters

Money As Debt – Paul Grignon

September 3, 2011 1 Comment

wealthymatters.com

I watched this documentary ‘Money as Debt’ by Paul Grignon today.It uses attractive animation to explain fractional reserve banking.And I can say that for the first time in my life I got to appreciate how humanity has managed to create the mountain of debt we have piled up.I always sensed that banks created money but only now I have a grasp of just how much.

I rate this video as pretty good .It’s a bit theoretical but not too off putting all the same.I can’t say I was able to understand all the implications of everything I watched but I do know my brain will keep revisiting the ideas I could not grasp at the first go.So this movie will have managed to expand my mind a bit.

I can’t say I agree with the film maker’s idea of a world which will run out of resources to sustain growth because I believe that human ingenuity will just find new uses for materials and waste materials we do not consider resources today. Read more of this post

Filed under Theory Tagged with debt, fractional reserve banking, Money as Debt - Paul Grignon, postaday2011, RandomBlog2011

3 Major Investments of the Wealthy

September 2, 2011 1 Comment

The wealthy are wealthy because they have superior skills in making and keeping wealth.All of them make it a priority in life to invest in the following 3 things.They cultivate habits that allow the to automatically invest in them.

1. Wealthy people invest in income producing assets.

It’s easier to grow your wealth if you have many sources of income.It easier still if you have many streams of passive income.Now all wealthy people quickly find asset classes that they are comfortable with and make it a point to acquire as many income producing assets in that class as possible-and the bigger the better. Read more of this post

Filed under Theory, Tool Kit Tagged with family, income producing assets, invest in oneself, invest in relationships, Investments of the wealthy, mentor, network, passive income, postaday2011, RandomBlog2011

The Hindu Female and Maintenance

August 31, 2011 1 Comment

wealthymatters.com Certain familial relationships impose legal obligations and responsibilities depending on the nature of the relationship. The term ‘maintenance’ includes provisions for basic facilities, such as food, clothing, shelter, education and medical treatment.For want of some basic knowledge a lot of people often suffer needless privation.Here is a list to help Hindu females of all ages whether they be children; married, unmarried, separated, divorced or widowed women or aged mothers:

A Hindu is bound, during his or her lifetime, to maintain all his or her legitimate and illegitimate children. So a daughter whether a legitimate or illegitimate child may claim maintenance from her father or mother or both so long as she is a minor. Read more of this post

Filed under Theory Tagged with child maintenance, Hindus, law, maintenance, mother maintenance, postaday2011, RandomBlog2011, separation and divorce, widow maintenance, wife maintenance

Stridhan

August 31, 2011 35 Comments

wealthymatters.com Stridhan is a combination of two Sanskrit words ‘Stri=Woman’ and ‘Dhan=Wealth’ which put together means ‘Woman’s property’. Stridhan is a traditional property right of Hindu women accepted by Indian Hindu Society.Stridhan ensures a women’s economic independence.

Except for a few restrictions during coverture, a Hindu woman is the absolute owner of her stridhan.Any dues from her can also be recovered from her stridhan.Also, a woman who does not wish to accept stridhan cannot be forced to do so; she can choose to accept or reject the gifts given to her as part of the stridhan.Usually stridhan is passed from a mother to her daughters as per her wishes but as the sole owner of her stridhan a woman can will it away as she pleases.On her intestate death, all types of Stridhan, devolved upon her heirs in the following order:

upon the sons and daughters (including the children of any pre-deceased son or daughter) and the husband,
upon the heirs of the husband.
upon the heirs of the father, and
upon the heirs of the mother. Read more of this post

Filed under Theory, Tool Kit Tagged with non-saudayika, postaday2011, RandomBlog2011, saudayika, Stridhan, women's property rights

Self-Acquired and Ancestral Property

August 30, 2011 503 Comments

wealthymatters.com After a person dies, there are often pretty big rifts in the family.Hidden stresses come out in the open and contesting claims to the deceased person’s property is fairly common.The problems are compounded by the fact that the law defines self acquired and ancestral property differently from common parlance.

According to the law for Hindus,self acquired property is any property purchased by an individual from his resources or any property he acquired as a part of the division of any Ancestral/Coparcenary property or acquired as a legal heir or by any Testamentary document such as ‘Will’ etc. Read more of this post