Blog Page 468

10 Snakes and Ladders of your personal finance life

Shitanshu Kapadia
-
0
10 Snakes and Ladders of your personal finance life

Snakes and ladder is a very famous game & most of us have played this game in childhood. This game is played on a game board containing a print of snakes and ladders.

In this game, the player will throw numbered gridded square and navigate their position based on the number on this square. If they end up on snakes their position is eaten away and if they end up on a ladder they step up in position. This simple game has a lot of resemblance to our personal finance life. 

To reach our financial goal in life we have to cross all snakes and use maximum ladders to achieve the goal.

Let’s discuss in life we deal with what types of snakes and ladders.

snakes ladders personal finance life

5 Snakes of our life

#1 Inflation

Inflation is the most dangerous snake it is like “king cobra” the most poisonous. You cannot control inflation it is an integral part of the system for which you don’t have any control. Today Inflation rate is around 7% and the interest offered by a bank is just 3%.

#2 Loan  

Another snake in our personal finance life is loans. Interest rates of loans pull you down in life like a snake. Take a loan only if is mandatory and yes make as much as prepayment you can! 

#3 Tax

The third snake in life is Tax. You are already aware that we pay multiple types of taxes in India. Direct and Indirect Taxes. You cannot avoid tax fully but you can use tax saving instruments to save tax.

#4 Medical Expense

Another uncontrollable snake in our life is a medical expense. This snake may trap us at any time and bleed us like anything. You can prepare yourself against this snake by taking a mediclaim policy.

#5 Education Expense

Education expense is another snake. The cost of education is increasing like anything. If you don’t plan & make investments for child education, this snake may pull you down in financial life.

10 Golden Rules for Successful Business

5 Ladders of our life

#1 Multiple Source of Income

Multiple Sources of Income are ladders that you can use to step up to your financial goal. Keeping multiple income sources or passive income will always help you achieve your goal faster.

#2 Return from Investment & time

The second and most important ladder to achieve your financial goal is the return achieved from your Investment & time.

In a snake and ladder game long ladder in a short time will take you nearby a winning position similarly investment offering a higher return in less time will take you nearby your financial goal.

#3 Education & Knowledge

The third ladder is education & knowledge. Life gives you better prospects if you possess higher education & knowledge.

#4 Skills & Qualities

Skill and qualities are other ladders in life that can help you to achieve your financial goal. You should advance your skillset as much as possible. 

#5 Luck

Last but not least ladder in life is luck. You can plan many things but the ladder of luck should be at your side else you will be eaten away by a snake anytime.

Did you like this post? Don’t forget to share it with your friends on Facebook and Twitter!

remember-that-sometimes-not-getting-what

Faydelal ka Wealth Cup – Video by Kotak Mutual Fund

Shitanshu Kapadia
-
0
Faydelal ka Wealth Cup – Video by Kotak Mutual Fund

kotak_video

Kotak Mutual funds leading fund house has made video explaining asset allocation with taking cricket analogy. Let’s check out what this video says about asset allocation.

Faydelal says that best way to win wealth cup is by adopting “Money ka many strategy”.

In cricket we cannot have a team that filled with only good batsman or only good bowler.

We must have winning combination if my batsman fails to perform my bowler will win the match if both fails to perform at least my fielder will save the day.

Just like that your investment also needs winning combination. That winning combination is asset allocation.

Asset allocation comes by investing in various mutual funds schemes. Through asset allocation your money is allocated across various investment categories such as “Equity”, “Fixed instrument” and “Gold” if one category fails to perform, the rest will make up for it.

It is smartest way to manage risk. Just like a good cricket team has a mix of player with different skills.

Asset allocation helps you to achieve the right mix for your investments.

If long term wealth creation is your wealth cup then asset allocation is your team to win it for you, because one can lead to none but many can make Money.

Now as you know this secrete apply this secrete of money ka many and score the winning runs.

Fayedala ka Wealth cup Video YouTube

Do share this video with your friends on Facebook.

Similarities of IPL T20 and Investing

Shitanshu Kapadia
-
0
Similarities of IPL T20 and Investing

IPL T20

IPL T20 is perhaps widely accept and most watch premiere league across world. Some time back it was also called as “Cricket Ka Baap”.  Interestingly IPL T20 and investments share lot of similarities.

Let’s try to relate your investment and financial planning strategy with that of IPL T20 cricket format.

IPL T20 and Investing:-

Start early:-  

In IPLT 20 game starting early always pays. As inning is short, team starting early can get more runs, which increases chance of winning game.

Similar to this one should start investments at early age. Starting early and investing regularly means taking advantage of power of compounding to generate more wealth.

More run in less over:-

In IPL team has to make more run in less overs. This will increase their chance of winning the game.

Similar to that in investment you should try to get more return in less time. Getting more return in less time means accumulating wealth faster.

Be ready for surprise:-

In case of situation like rain or weather delays method used to declare result in IPL is Duckworth-Lewis method which sometime gives surprise. A team must be prepared for all surprise and the only way is through having already scored enough runs whatever the stage of the game.

Similar to IPL life can give surprise at any time we have to be ready to deal with all unexpected that comes in life. So invest money only after keeping emergency fund aside.

Strategic Break:-

In IPL strategic break is taken after completion of 10th over. This strategy break is to decide what to do next in game.

Similar to IPL one should take strategic break regularly to review portfolio and financial plan to decide what to do next to achieve financial goals.

Offensive Play:-

IPL is widely accepted because it is fast game in 20 overs everything is over. In order to win IPL team has to play offensive match.

Similar to IPL in real life in order to win financial game sometime you have to play offensive and do risky investments.

Bad over:-

Bad over in IPL can change direction of game. If team does not have enough run on hand you may lose the tame.

Similarly in real life you may come across bad over like bad time in term of job loss or illness if you are not ready with good financial score card situation may take you on toss.

Consistency give rewards:-

In IPL consistency in performance is preferred. Player who is performing consistently well in one season will get good reward not in current season but also in future IPL seasons.

Similarly in real life we have to select consistent performer as investment asset.

E.g Stock performing just for one year in your portfolio will not make any sense but consistent performer stock in your portfolio will give you good consistent reward. 

Coaching helps:-

In IPL T20 match team keeps special coach for batting, bowling and fielding. Coach gives guidance and direction which will help team to perform well.

Similar to this your investment can also get benefited if you take help from experts or financial planner while investing your money.

Distraction and Entertainment should not affect your score:-

IPL T 20 is highly entertaining in nature. All dance music and models dancing in stadium can make distraction to player, but player has to make sure that distraction and entertainment should not affect score card.

Similarly in real life when it comes to investing emotional distraction can make big mistake. You need to control your emotion fear & greed while making investment decision.

Hope you enjoy reading this article. Do share your comments in section given below.

15 Tips for Young Entrepreneurs

Shitanshu Kapadia
-
1
15 Tips for Young Entrepreneurs

An entrepreneur is a businessman who manages the risk-reward equation of business very well. Becoming an entrepreneur is not everyone’s cup of tea especially for a middle-class person, because the mindset of middle-class people is different. They see the world from a different angle, they study hard, get a good job & remain happy with a safe and secure job. They don’t want to take any chance, they just want to be a prisoner of visiting card and the logo on it.

For all these people I would like to say: “Please imagine your future if you have joined any company as a manager in the corporate sector. Five years down the line you will be senior product manager if you are too good in 8 years you will become marketing manager …In 25 years you might become CEO somewhere.

Ask yourself: – “Is this what I want in life?”

small_big

If your answer is no & If you don’t want to sign any complex agreement to become a prisoner of 9 to 5 jobs.

If you have a burning desire to become an Entrepreneur we are here with proven tips that will help you as an entrepreneur.

Before we dive into these tips, it’s essential to understand the qualities that define successful entrepreneurs. In addition to resilience and strategic thinking, adopting a mindset of continuous growth and ambition is what separates them from the rest.

As john rockefeller quotes so aptly put it, “Don’t be afraid to give up the good to go for the great.” This mindset encourages entrepreneurs to pursue opportunities that may seem daunting but offer greater rewards.

15 Tips for Young Entrepreneur

15 Tips to entrepreneurs

#1 You don’t need any capital to start, you can start with zero capital. If you have capital, great. If you don’t, it doesn’t mean you can’t start. 

#2 Don’t just think about it, don’t just wish for it, jump into it and do it, if you are serious.

#3 If you believe in a product, never give it up. You will succeed. It may take time, it will cost money.

#4 Choose your field very carefully – there must be a ‘huge’ (large is not good enough) market and potential.

#5 You have to be a Good Team leader –

team_india

#6 If you are not passionate about what you are doing, then you are in the wrong place.

#7 Be early. You can make your mistakes while it is cheap to make them when there is no competition.

#8 Do not exaggerate in your business plan. Under commit and over-deliver.

#9 Get great people – sell them the vision, the idea and share the wealth, be generous with offering stock.

#10 Make plans but remain open to all possibilities as events unfold in the marketplace.

#11 Keep thinking about how to grow the business.

#12 In every business more you know about the grassroots, the better.

#13 Entrepreneurship is risky. So you should have a mindset, should be prepared to fail. If you are not prepared to fail and can’t handle failure then this is not your cup of tea.

#14 If you are starting a business to make money, don’t do it. Chances are that you will fail because there will be hard times. And if your motivation is not something beyond money, those hard times will test you. You will quit and go back to your job. But if you are doing something other than money, you will rough it through the hard times.

enterpreneur

#15 Don’t be an entrepreneur without very good financial knowledge. Or have a trusted partner who knows all about this.

BONUS TIPS to YOUNG Entrepreneurs

#16 Keep patience during difficult times. Don’t lose your balance, and try to carry the team with you.

#17 You can achieve beyond your dreams, so it’s OK to dream and make an action plan to turn it into reality.

Over to you –

If you have decided to become an entrepreneur here are 100 Business Ideas that will help you in starting your own business.

1...467468469...505Page 468 of 505