‘Subra I really feel I should have met you 30 years ago and my life would have been different’…..

‘Subra I wish you REALLY my father….my REAL father does not allow me to invest even my OWN MONEY.

‘So lucky Subra I met you when I was 22, my SIP is now 5 years old! Thank you…

‘Subra I wish my father had seen your blog 30 years ago….he is a financial mess at age 65 and completely dependent on me’

All reader sentiments….so here are some tips which will make you echo the same sentiments, again. It is not as though I have not written about them earlier, but then some reiteration is useful, especially on 1st of Jan, right? So here it is:

1. Pay your self first….if you do not know what it means…here is a link! http://www.subramoney.com/2013/12/pay-yourself-first-means-what/

2. Be financially literate. Read blogs, websites, books,…if you do not know which books to read here is a link! http://www.subramoney.com/2010/01/best-investment-books-to-read/

3. Buy term insurance. Pure term. Here is a link http://www.subramoney.com/2013/03/buy-pure-term-insurance-only/

http://www.subramoney.com/2012/09/buy-term-life-insurance/

4. Earn well. Spend smartly. Save well. Then convert these savings to Investment. http://www.subramoney.com/2011/07/earnings-spending-saving-and-investing/

5. Do asset allocation – you need lots of equity, some debt, real estate, gold in your portfolio. Choose dosage according to YOUR taste. My portfolio cannot be cut paste for all of you. Each person has to build his own according to his/her requirement.

6. If you are planning to do a business, start early there too! It is easier to handle small failures rather than big ones. If you are not generating enough cash in your business and you have no clue who will fund those losses, you are better off working for somebody.

7. If in a poker table you do not know who is going to be had that evening, it is you. True in real life also. Nothing changes, really.

8. Use your financial literacy while buying financial products. Even then keep it simple. If you do not understand, say NO.  http://www.subramoney.com/2011/09/one-word-that-can-make-you-rich/ 

9. Keep financial products / trading costs / holding costs low, but still be with reputed providers. Keep seeing the SEBI website for prosecutions. Keep a financial diary and have your investment philosophy statement ready.

10. Keep financial records properly and ha! Make your will. I know you will live for another 240 years, but still please make your will.

11. Do I need to say this? read www.subramoney.com – and please click on the ads – remember they are helping US to keep this free 🙂 we need advetisers!

and ha! Happy New Year……..