More than 300 families that I know must have made this statement! I love it. All those reading my blog know that I believe in keeping things simple, and using own skills rather than ‘hired’ skills. Even when it comes to making a will…my normal advice is “If you have led a simple uncomplicated life […]
What is being Rich and what is being Wealthy? This is a topic that I have spoken about too many times in the past….One of the steps required is to create different and various sources of income. For a beginner who is starting on a first or second job how is he/she expected to create […]
Hey kids…there is no Santa…Wikileaks. Actually the kids know it…it is the adults who need to be told about this! so even if you are going on a short ride on your slow cycle…wear a HELMET even if you are in the pink of health and feeling great….take MEDICAL INSURANCE one day if you are […]
Doctors normally start their practice and the money starts coming in – first in trickles and then as a flood. Over enthusiastic accountants and ignorant doctors are a dangerous combination – they keep the doctor’s income low so that lesser tax can be paid. Suddenly if the doctor wants to set up a bigger practice, […]
For readers of my blog this is not a new news. I have not been a fan of any businessman who is more into ‘market capitalisation management‘ rather than business management. When the Reliance Power IPO came at Rs. 450 I did not apply though of course there are many people who applied. I wrote […]
Mumbai has a peculiar problem- exhorbidant real estate prices. However this does not mean economics is at work. I would know of many people who live far, far beyond their means. How does this happen? Well their parents are cash-flow poor, but asset rich. The children are asset poor, but have some cash flow. Take […]
If you have wondered how the ultra-rich manage their money, welcome to the world of Family offices! Family offices are private advisory firms that serve ultra-rich clients. When a client has a large amount of money to be managed and needs a full fledged infrastructure to do that – a banker, a Chartered Accountant to […]