wealth

Psychology of Wealth

February 24, 2011 1 Comment

The question why some people accumulate substantial wealth and others struggle so much in this field has attracted the attention of quite a few psychologists.There have been many studies to correlate various personality traits and behaviour patterns, cognitive patterns , self motivation habits, moods and emotional behaviours and social behaviours with the wealth a person accumulates.

The results of these studies have been used to construct the various quizzes here http://www.marketpsych.com/personality_test.php .They are free and a pretty good way to get to know both one’s strengths and weaknesses as an entrepreneur , investor and/or speculator.

Taking these tests is a great way to get to know the strengths we can play to and the weaknesses to guard against.The results sheets also have many good psychological tips to work around our individual weaknesses.

Filed under Entrepreneurship, Paper Assets, Theory, Tool Kit Tagged with behaviours, cognitive patterns, emotional behaviours, entrepreneur, Investor, moods, personality traits, postaday2011, psychology, psychology of wealth, quiz, RandomBlog2011, self motivation, Speculator, tests, wealth

Sunsigns and Wealth

February 8, 2011 17 Comments

Since ancient times people have looked to the stars to figure out whether they will be wealthy.They have consulted astrologers to figure out how to make their fortunes.Horoscopes have been cast, and many derived charts prepared, to study a peoples’ wealth potential and best source of wealth.

In Western Astrology, at the rudimentary level, the focus is on the Sun Signs as they are held to account for most of the personality traits of a person.Forbes Magazine,through its study, has found that roughly 12% of the world’s billionaires in its annual list were born between Aug. 23 and Sept. 22, making Virgo the most common sign among billionaires.And the least common sign is Sagittarius , i.e those born between November 22 – December 21, with 6% of the people in its billionaire list.

However,every Sun sign is home to some or other billionaire.I have tried to find the wealthiest individual belonging to each Sun Sign.Each one of these billionaires has made his money in certain fields and by harnessing certain personality traits.If astrology really works, maybe you too could make your fortune in the same field or by adopting similar tactics.So why not look up the richest person featured against your Sun-Sign and start googling up the name.Just check out what they may have in common with you. Read more of this post

Filed under Tidbits Tagged with Anne Cox Chambers Sagittarius, Astrology, Bernard Arnault Pisces, Bill Gates Scorpio, Billionaires, Carlos Slim Helu Aquarius, Forbes Rich List, George Soros Leo, Lakshmi Mittal Gemini, Li Ka-Shing Cancer, Liliane Bettencourt Libra, Mikhail Fridman Taurus, Mukesh Ambani Aries, Oleg Deripaska Capricorn, Sunsigns, Warren Buffett Virgo, wealth

February 1, 2011 3 Comments

“Wealth is having all that you want and need.

There are two ways to achieve this:

1) Work to aquire all that you want and need.

2) Reduce your wants and needs to less than what you have.

Both methods are difficult.

In practice, a mixture of both will be employed to gain wealth but option 2 will always be available where option 1 may not always be.”

This is something I came across while surfing the net yesterday.The original is here. http://sleepythinking.wordpress.com/2009/10/02/wealth/

I think it’s a nice and clear way of putting things.Wants are infinite.Our definition of needs are often extended to include everything we can have.Living below our current means is a sure shot way of accumulating a corpus.The corpus , in time , could be put to work to increase our means and so reduce you direct labour to have the things we want and need.In the mean time , work , both hard and smart , is a given.

Filed under Tidbits Tagged with corpus, labour, living below means, means, wants and needs, wealth, work

Lord Kubera

January 28, 2011 64 Comments

Kubera, also known as Dhanapati, is the Hindu God of Wealth.He is believed to be the Treasurer of the Gods.He, along with all his Yaksha followers, guard all the treasures of the earth and also the riches buried and unclaimed inside the earth. As treasurer of the Gods and chief guardian of wealth, it is his responsibility to distribute wealth among people.It is believed that Kubera flies in his Pushpak to distribute wealth to his devotees assisted by the Kinnaras and Kinnoris(Centaurs).

Worship of Lord Kubera is believed to be the basis of gain of unlimited wealth and prosperity.For when Lord Kubera is pleased he blesses the person with material success and wealth. The chances of coming into wealth unexpectedly and suddenly increases.And no matter how much one spends, money keeps flowing in provided the wealth is used for constructive purposes and not for destructive or anti-social activities.So Lord Kubera is propitiated for quick financial gains,unexpected gains of money through lotteries etc and a prosperous business.

Lord Kubera is propitiated by chanting the Kubera Mantra and by worshipping the Kubera Yantra.The Kuber Yantra is a tool to attract the cosmic wealth energy and accumulate riches and increase cash flow .There is a picture if one on the right. The speciality of the yantra is that addition in any direction gives 72.The Yantra is believed to open up new avenues of income,lead to growth in business and abundance.Copies of the yantra can be either hand drawn on paper or made of metals like copper , silver ,and if you can afford it- gold sheets.They can be kept wherever wealth is stored or where financial dealings take place or they can be worn as amulets. Read more of this post

Filed under Tidbits, Tool Kit Tagged with 21 Mukhi Rudraksha, abundance, acquiring wealth, Dhanteras, God of Wealth, Hindu, Hinduism, immense wealth, Kuber, Kubera, Kubera Mantra, Kubera Yantra, Kuver, Kuvera, Lakshmi, wealth

Compound Interest

January 24, 2011 24 Comments

We all pick up some pretty important stuff in primary school but it’s doubtful if we really appreciate their importance at the time.Compound interest is one such thing.For many people it’s a formula to be memorized to pass a few math tests only to be forgotten or at least be pushed back to the recesses of their minds along with all the rest of the facts memorized in childhood.

To refresh memories, compound interest is the type of interest calculation where periodic interests accrued are not paid out but retained and the accrued interests earns interest . The formula for calculating compound interest is:

$A = P\left(1 + \frac{r}{n}\right)^{nt}$