1. If you wish to accumulate wealth through investing, please realize that the investing pot comes from giving up consumption – in the initial stages at least. If that hurts, wealth accumulation is very difficult.

2. If you or your somebody else in the family spends money to show off you are not likely to accumulate wealth

3. If you end up buying many things that you do not need, one day you will be having things, not money. No point in feeling bad later on.

4. Wealth is Relative. Tatas have more wealth than Premji, Sachin has more wealth than Kohli….well as of now

5. If you have to create wealth you need to be obsessed about the whole process. It is dull and boring, but works.

6. It is not necessary to create wealth at all. As long as you have enough money to last till your retirement, that is fine.

7. If you use wealth as a scorecard of success, it is difficult to measure success. This is simply because people who are really rich do not NEED show off assets. Those who keep acquiring show off assets do not accumulate real wealth.

8. Wealth is a function of returns over a long period of time. So to enjoy the wealth you need to live long.

9. One of the worst destroyers of wealth – especially at the start of the process is poor health. One or two hospitalisations can erode your small capital. Take good care of your health – it is a brilliant wealth creation tool.

10. If you are creating wealth for your OWN consumption, there has to be a judicious balance between earning, investing and spending.

11. If you have accumulated money in the region of even Rs. 4-5 crores go to a decent lawyer and see whether you need sensible inter-generational transfer tools. Not very difficult, but a good lawyer can be useful.

12. Charitable giving is difficult if you want to do it sensibly.