Wealth book for the Young
In the pipeline is a book for the young. …by young I mean the 23-40 year old. If I am writing it, it obviously is regarding wealth.
Though I will be putting in a couple of chapters on controlling expenditure, how to borrow, it will of course concentrate on CREATING wealth.
Specifically WHAT DO YOU WANT TO SEE IN THAT BOOK?
OF course you need not be in that age group to give in your suggestions…
janaki
Please include a chapter on “invisible wealth” and why investing “time and energy” in relationships, family, parenting, crafts and hobbies and health can indeed make you a rich person as well.
janaki
And you do not do this “after” but “along”
Srivatsan
Subra,
Am assuming that this book will be addressed to the general reader. Those who are not in the financial services sector are much more likely to follow and benefit from the advice in the book. Those in the financial services sector assume they “know” how to create wealth:)
I think you can structure the book under universal “truths” that are applicable irrespective of the asset that is being invested in. Once that is explained in detail – say concepts such as “starting early” or “displaying patience” or “being disciplined” etc – you can move to more asset specific advice.
Maybe you can also tackle the basic concept of what is “Wealth”? for eg: if someone earns Rs 100 and spends Rs 80, he is left with a surplus of Rs 20. Is this Rs 20 “Wealth?”.
Additional topics can include concepts of Inflation, Self-education, Compounding, Insurance, Risk, etc.
Kripa
Hey Subra – my 2 cents worth: I do think you need stories and narratives as you usually do to make the matter interesting. It would be great if some of your stories could be about how people saved / invested and finally bought the Ferrari and/ or took a couple of years off to go biking across Africa and / or went and enrolled for a Master’s Degree.
Good luck and waiting to read…
🙂
Smisha
It would be nice if you can include the importance of accumulating longterm assets like house,land. Also elaborate on the positiveness of “start investing when you are young”..
Waiting to catch up with the book.
anush
how about money management techniques with insights of Ramayana
wealth creation in a mythological perspective
Vinay
Hi Mr Subra,
I am 36, married, have 2 kids and a decent job. I love reading your site. It consistently ‘grounds’ me whenever I pick up ‘charge’ about buying things or investing. Not that I always completely agree with you a 100% but it always (100%) makes me think from a different perspective.
Specifically I am suffering a dilemma and although I don’t want you to address this specifically, I would love to read your unique perspective. I have a Santro that has served me well since the last 10 years. Now I dont make long trips as I feel the car is small, underpowered and unsafe for the whole family, now a decent car that ticks all the boxes is about 12 lakh.
I want to hear from you about your take on the line between spending and being miserly, between saving for the future and enjoying the now, between taking care of your responsibility and indulging yourself.
Cheers
Vinay
Shankar
I think we you could address wealth in a broader sense touching upon wealth of experience, knowledge, making some mistakes in addition to what is expected from you of financial wealth it will help greatly.
Pooja Punjabi
Hi Subra Sir
It would be nice to include a chapter on creating wealth for NRIs and also something on how young parents should invest (which also include investment plans for children etc.)
Thanks.. Looking forward to reading the book once its out..
hasan
dear subra
please stress on how extravagent spending is denying youngsters an opportunity to become wealthy.
Shreepad
Technical aspects have been covered earlier so no need to duplicate. I would certainly suggest some insights into behavioral aspects of handling money.
Surya
While I am certain you will come up with practical advice for kids with stars in their eyes, avoid killing the stars too! Encourage them to take risks, but not to shy away from the rigor of prior analysis. If they can get the process right, the ups and downs of life are less likely to bother them. So the book ought to be about attitudes to life (money being just one part). Look forward to reading it, Subralife!
Umesh Ikhe
If book comes in style of story teller it will impact and learning for younger generation. Also unbiased view and vision on all asset classes ( including real estate and gold) towards wealth cration will be big plus. Book must include best practices or kind of rule book on income versus spending.
Shanks
I think if u could put this point out that consistent returns over a long period of time is better than keeping your assets idle waiting for the big opportunity. Scoring a six is exciting but scoring a lot of fifties to enable your team to win if the main objective, opportunities for scoring many sixes will also come your way.
Also, u can educate on leveraging risks and risks of leverage.
De-risking career by continuous learning vs Risking career by joining start-ups.
Thoughts of opex vs capex.
Using motivation tools of carror and stick for investement decisions.
All of these are interesting perpectives.
Aparna
Hi Subra,
I want to see more optimistic views in the book. The cynical thinking sounds good in the blog, but not in a book in my view. You can keep some exercises at the end of every chapter, these can be negative so that people think from all angles.
Some tips on how to manage the finance related disagreements in a marital relationship.
I have read a book called Secret, by Rhonda Byrne. It says the more you do charity, the more you get. Charity means you believe you have enough and the belief plays a major role. I want you to touch upon this aspect. For this you might have to read that book.
I am sounding really preachy, I hate preaching. But you requested comments from us, so being honest.
Thanks a ton for your contributions our lives. Will wait for the book.
Aparna