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December 16, 2012

Amitabh Bachchan, BIG B, needs no introduction. He is known as super star of millennium. He carries huge fan following across world. He first gained popularity in the early 1970s as the Angry young man of Hindi cinema, and has since become one of the most famous actors in the history of Indian cinema. Amitabh bachchan is most-nominated performer in major acting category at Filmfare, with 36 nominations overall. In addition to acting, Bachchan has worked as a playback singer, film producer and television presenter, and was an elected member of the Indian Parliament from 1984 to 1987.

Son of the late renowned poet Harivansh Rai Bachchan, a man who’s braved it all and continues not only to inspire us, but leaves us amazed with his magnificent success. In his 43-year career, he’s worked in over 200 odd films, essaying various roles, some of which went on to create and break box office records like Deewar and Sholay.

In June, 2000 he became the first living Asian to have a wax statue erected in his honour at Madame Tussaud’s. As per me he is most versatile personality & Inspiring living legend.

learning amitabh bachchan life

The recipient of both the Padma Shri and Padma Bhushan, he’s also won three National Awards, the most recent being for his performance in the movie Paa directed by R Balki in 2009.

But the journey to the top wasn’t a piece of cake for Mr Bachchan. He has had his share of rejection, failure and low moments too. He had health issues in 1982 due to accident on sets of Coolie. He has undergone surgery in November 2005.

Learning from Warren Buffett’s Life – Simple Living High Thinking

Common man usually retires at the age of 57-58 years but in the same age Amitabh bachchan had financial crisis and he lost almost everything. But today in 2012 his net worth is more than 400 Crore. This article is about learning from Amitabh bachchan life, how he landed up in bankruptcy and how he fought against all odds to turn his fortune to become crorepati.

About Amitabh Bachchan

Name: Amitabh Harivansh Rai Shrivastava Bachchan
Age: 79 years old
Born: 11 October 1942
Career: Actor
Net Worth: $400 Million
Parents: Harivansh Rai Bachchan and Teji Bachchan, Shyama
Daughter: Shweta Bachchan Nanda
Son: Abhishek Bachchan
Height: 6ft 2in (188 cm)
Weight: 176 lbs (80 kg)

Amitabh Family

Amitabh Bachchan Family

From Zero to Hero – Amitabh Bachchan

In 1995 Amitabh started Amitabh Bachchan Corporation Ltd(ABCL) that specialized in film production and event management. ABCL has does everything in entertainment business eg:- Making films, distribution of films, Selling music rights, managing big events, television production, as also in the area of selling commercial time on television.

The first year the company did achieve its target turnover of Rs 65 crore and made a profit of 15 crores. But that growth was not substantiated in the second year onwards. ABCL biggest mistake was to organize pagent of Miss World Bangalore. This event has loaded biggest liablity on ABCL. In 1999 ABCL was facing liquidity crunch. Many movies got flopped. Huge funds were blocked in production and distribution of films. Company was not able to pay even salaries of staff.

Main Creditor Canara Bank and India’s public broadcaster Doordarshan had made case against ABCL in Bombay High Court. Bombay High Court has given decision against ABCL and directed Bachchan to sell his bungalow ‘Prateeksha‘ and two flats to clear all debt.

Bachchan, had mortgaged his bungalow to Sahara India Finance for raising funds for his company. The Indian Board for Industrial and Financial Reconstruction declared Amitabh Bachchan Corporation Limited a ‘sick’ company with a debt of US$14m.

With these raise fund also he could not clear all debt. His friend Subrata Roy of the Sahara group and Samajwadi Party general-secretary Amar Singh helped him a lot during this time. His first break in this bad time was Mohabattein movie of Yash Chopra.

Big B was back in action by 2000, this time on the small screen with Kaun Banega Crorepati a popular television show known as KBC also. This show was big success and it has revived his fortunes along with participants and STAR Plus channel. It is estimated that Bachchan earned Rs 15 crore for 85 episodes of the show. Brand endorsement like the ICICI Bank etc helped him to get big money and he could pay back creditors and clean up ABCL’s balance sheet.

Imagine starting your life from zero worth at the age of retirement! At seventy plus Amitabh Bachchan career graph is touching sky like rocket.

Amitabh Bachchan Net worth – 2022

Amitabh Bachchan Net Worth is 2950 Crore ($400 Million) in 2022

The total net worth of Mr. Amitabh Bachchan is estimated to be around $400 Million, which in Indian Currency is approximately 2950 Crore INR. He earns majority of his earnings from Brand Endorsements for which he charges Rs. 1-5 Crores. With such an achievement, Amitabh Sir is always ahead when it comes to social cause and charity work. He is the Brand Ambassador for Polio treatment and various other states of India for tourism. Also, he is among the highest payer of income tax in the country.

Amitabh Bachchan Net Worth -2022

Assets	Jaya Bachchan	Amitabh Bachchan
Bank Accounts	HSBC Bank Dubai branch-3.06 crore	Fixed deposit in Bank of India: 92 crore HSBC Bank-USD-New York: 66 lakhs
Bonds, shares, debenture and mutual funds	4.3 crore	69 crore
Cars	Toyota Lexus: 30 lakh Toyota Qualis: 8 lakh	Rolls Royce worth Rs 3.08 crore, two Mercedes worth Rs 2.2 crore, one Poarsche Cayman worth Rs 62 lakh besides vehicle likes Toyota Innova, Mahindra Scorpio Toyota Qualis mahindra Bolero and a tractor.
Gold, Silver	Gold worth -32 lakh, jewellery – 12.48 crore,Silver articles -35.3 lakh silver bars -18.9 lakh	Gold worth Rs Rs 2.03 crore, jewellery worth Rs 20.49 crore and silver articles worth Rs 3.7 crore.
Paintings	Rs 19 lakh	3.8 crore
Watches	–	1.7 crore
Agricultural Land	Bhopal and Lucknow worth Rs 5 crore	Lucknow and Barabanki district worth of Rs 3 crore.
Non-Agricultural Land	Plot in sector 44 in Noida at Film city worth Rs 60 lakh	In Ahmedabad worth Rs Rs 15 lakh and other at Juhu Mumbai worth Rs 25 crore.
Commercial building	–	In Juhu worth Rs 20 crore
Residential building	Bhopal worth Rs 51 lakhJalsa at Mehta Road in Mumbai worth Rs 40 crore	At Juhu worth Rs 20 crore, another at Juhu worth Rs 20 crore, one at Gurgaon worth Rs 1.2 crore, an apartment at Juhu worth Rs 1.75 crore and one in France worth Rs 3 crore.

Learning from Amitabh Bachchan life

Don’t Trust People Blindly

Amitabh lost all the wealth that he had built because, he was good at earning and creating wealth, but trusted others and did not have the ability to protect the wealth he had earned. But, like many of his reel roles, in real life, too, he fought and is now a bigger role model across generations.

Similar to this we focus all our time and energies on building wealth. However, when it comes to investment we invest our money based on advice given by agent, broker, financial advisor or friend. I have seen many people trust people blindly when it comes for the investment of money.

Remember that you need to be careful when it comes to investment or protection of wealth.

Accept Failure but Never Give up

Every human being will go through a phase when there are highs and lows. Everything that goes up also comes down. But best thing is ability to accept failure and turn that in to success.

According me Amitabh bachchan is real example of Phoenix by rising from the ashes. Amitabh is also proves famous success quote that “Success is the good fortune that comes from aspiration, desperation, perspiration and inspiration.”

Imagine the man who lost everything at the age of retirement accept his failure, start from zero and make 2950 Cr.

Diversify Your portfolio

If you carefully see Amitabh Bachchan Current portfolio you will find that his investment/saving is in mostly all asset class starting from debt, equity, real estate, gold and antiques.

If you are not master of investment then it is better to invest your money in multiple asset class. In this way down fall in one asset class don’t impact your portfolio much.

Apart from this Amitabh Bachchan is one of the few stars that take their iconic status seriously.

His interactions with his fans and the press are generally warm and gracious, and he makes a visible effort to remain humble and grounded.

Amitabh attitude inspires each and every one to reflect upon the various aspects with sheer admiration and reverence; how he gently and thoughtfully handles each and every aspect of his career and life with versatile brilliance.

At the age of 79 also he is ever inspiring superstar. He is a legend who always inspires us to take meaningful steps in our individual fields and excel with the wonderful resources that we have been provided.

I hope as a fan of super star Amitji you will appreciate this financial learning from his life.

Amitji, You have meticulously utilized each and every instance, transforming mere aspects into potential opportunities of intrinsic value; investing tremendous time and effort at each and every stage; striving diligently at each and every step very most consciously and with profound awareness; a disciplined attitude and an ambitious perspective thereby inspiring us to look within ourselves likewise and accomplish meaningful; purposeful; respectful and responsible goals and objectives for Universal Development; Happiness and Welfare always.

We truly appreciate your endeavors and wish you the very best always.

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Money Management for Middle Class

Personal Finance

Shitanshu Kapadia

December 13, 2012

In today’s time money management is essential for everyone. But if we talk about middle class people they always remain in pressure due to lack of money. They often joke that there is NO question of managing money as they don’t have money. But sometime this joke will lead them towards difficult situation. Remember money management is essential even for middle class people.

Many middle class people believe that money management is very difficult subject it requires ample amount of knowledge or consultation of financial planner. In order to help middle class people we are here with simple rule for management of money.

For effective money management you need to make your monthly budget based on your money spending habit. To get guideline please use model budget table given below.

Let’s consider someone has monthly income of 8000 Rs/- so as per above budget one has to save 25% of income 2000 Rs/- per month. This will lead to saving of 24000 Rs/- per year.

Now let us understand basic “Rule of 72” to estimate the growth of money. As per this law if your money earns 1% return than it will be double in 72 years, and if your money earns 72% return than it will be doubled in only 1 year.

If you deposit this money in fix deposit which gives 8% return than your money will be doubled i.e 48000 Rs/ in 9 years.

So as per above example FD doubles your money in 9 years but money invested in good mutual funds via SIP can give return up to 12%, hence your money could be doubled in 6 years & can grow to four times in 12 years.

So practice this basic rule of 72 for doing investment & see the magic. It is quite simple.

At 24 % your money doubles in 3 years.
At 12 % your money doubles in 6 years.
On 6 % your money doubles in 12 years.
On 3 % your money doubles in 24 years.

You can see that it makes a big difference how many times your money doubles. If you can make it double once or twice more by starting early, choosing the right investments, or keeping your money invested as long as possible before withdrawing it, Ultimately you could end up with significantly more money at retirement.

Small Charges that adds up to big money

Personal Finance

Shitanshu Kapadia

December 12, 2012

You’re a hard worker and, more importantly, a good saver & investor. Yet, sometime you feel that your monthly budget is over stretched. That might be due to small invisible charges or fees you simply ignore knowingly or unknowingly. Remember these small charges add up to big money. We are herewith some example of these small charges adds up to big money.

Banking:-

Today most of the service avail from bank is chargeable. Bank keeps on deducting money from account such charges are:-

Duplicate Bank Statement / Passbook – 50-100 Rs/-
Reissuing Net banking/ Phone banking password -50- 100 Rs/-
Stop payment charges – 50-100 Rs/-
ECS dis honored charges -200-300 Rs/-
Record copy of cheque -100 Rs/-
Signature Verification charges -100 Rs/-
Minimum Quarterly balance charge -500 Rs/-
Account closing before one year -100 -250 Rs/-

So before availing service do understand charges for them to avoid last minute shock.

Prepayment Penalty:-

Though prepayment fee has been abolished for home loans, it still exists for car loans. “There’s no reason why it should be levied on car loans. Most customers get confused about the calculation of the prepayment fee since it can be as high as 10% if you prepay a loan within six months, and 5% if you do so within a year.

Credit cards:-

Complaints more rampant than in credit cards, before going for any credit card do check about annual charges. Most banks offer you a free credit card but that is only for 1 year. Next year onwards you have to pay fee 500 -1000 Rs-/. Even some banks also impose charges for non-usage. So if you don’t swipe card within year you will be charged for non-usage.

Real Estate:-

You are planning to buy house than you must be ready to pay extra charges. Apart from doing payment to builder you have to bare additional cost of doing registry. Registry cost is just one cost builder may charge you following:-

Development Charges
Lawyer Fees
Cost of Extra bill (In case of home loan requirement is higher)
Share Transfer fees of society( During purchase of Old House )

Car:-

If you are planning to purchase new car or old car, be prepared to pay more than you had intended to.

Most of people consider ex-showroom price as final price but remember that dealer charge lot of other thing like transit fee or warehouse charge. Not only that you have to be ready for paying extra money for insurance and RTO passing.

If you’re a new car owner, be prepared that your free servicing will come for a price. You may find that you’re paying for wheel alignment or body polishing, even if you hadn’t asked for it.

Desktop:-

If you are planning to purchase desktop remember that you have to pay additional cost for software like operating system, processing software and antivirus.

Mobile:-

The most common complaint, especially in case of prepaid connections, is the automatic subscription of a value-added service. Starting from Hello Tunes and cricket updates to astrology and travel tips, if you receive this kind of updates via SMS don’t wait for bill to come check with your service provider this message shall cost you some money.

Entertainment:-

Nothing is free in this world including entertainment when you shop or dine out of go for movie remember you are paying extra charges in following way.

Service Charge – Every time you dine out at restaurant you are paying service tax.
Parking charge – Most of the Cinema hall and Mall charges extra money for parking car
Online Movie Ticket Booking charge – When you book a movie or show ticket online, you have to pay a convenience charge of Rs 10-150, depending on the cost of the ticket.

So, remember to scrutinize all your spending, bills and statements to know which of these charges you can avoid or can, plug to save more money.

Importance of Nomination in Financial products

Investment

Shitanshu Kapadia

December 11, 2012

Importance of Nomination in Financial products

Most of us understand that a financial asset is inherited by the spouse, children or other family members in our absence but the law doesn’t recognize things this way. It needs valid papers in the form of nominations and a will, a formal legal statement declaring the distribution of assets.

Last week, there was a call from my friend regarding one PPF claim. His friend’s father has expired in an accident. His father was used to deposit money in PPF account. Unfortunately while inquiring they found out that nomination in his father’s PPF account was missing, they have no option but to complete all legal formalities to claim this money.

Money deposited in his father’s account was more than 2 lakh. In case of PPF as per rule if nomination is not made than legal heirs will get maximum of Rs1 lakh only. Missing nomination in this case will cost them more than 1 lakh.

We come across many incidents like this where people do not understand importance of nomination, they invest money but they forgot do nomination. To avoid situation mention above we should complete nomination formality in all financial products which we purchase.

What is a nomination?

Nomination is the process of appointing a person to take care of your assets in the event of your death. You can appoint a nominee for your bank account, fixed deposit, demat account, or even your house. A nominee could be a family member or a friend or any other person whom you trust. However, since it involves financial matters, you need to chose a nominee with care as the person needs to be reliable enough to take care of your assets in the event of your death.

Though a nominee is an important person, he or she has no rights over the money or assets unless that is specified under the will or the nominee happens to inherit the money. So as such a nominee is a mere custodian of the assets. He is a contact point for the investments. So in the event of a person’s death, a bank could get in touch with the nominee for further instructions to act on the account. At the time of claiming the savings, the nominee will have to give a proof of his identity to the relevant authority.

For example, if a man during his lifetime makes a will. In the will, he mentions his wife and children as legal heirs, then after his death, his wife and children are the legal owners of his assets. It is essential that one needs to execute a will. It is the ultimate source of truth and replaces the succession law. Nominee can also be one of the legal heirs.

Point to remember while doing Nomination:-

Do Mention the Full Name, Address, age, relationship to yourself of the nominee.
Do not write the nomination in favour of “wife” and “children” as a class. Give their specific names and particulars existing at that moment.
If the nominee is a minor, appoint a person who is a major as an appointee giving his full name, age, address and relationship to the nominee.

Nomination in Life Insurance:-

The policy holder can nominate a person as nominee while he is alive to receive the claim amount in case of his death. The insurance company will settle the amount to the nominee. In case, there is a Will, then the nominee has to settle the amount, as per the Will. If there is no Will, the amount has to be distributed to the legal heirs as per the succession law.

You can change the nomination any number of times during the term of the policy. If you are nominating a minor, don’t forget to appoint an appointee, who can receive the claim amount during the minority of the nominee.

Nomination in Shares:-

The role of nominee is different in the case of shares. In this case, the nominee will get the right of the shares, in case of death of the party even though he is not the legal heir. So be careful, while making nomination in demat account. Ensure that you are nominating the right person, who will protect your interest after your death.

As per the Companies Act, nomination supersedes Will. So, the nominee in your share investment will become the absolute owner, after your death.

Nomination in Mutual Funds:-

You can make nomination while investing in mutual funds by writing the relevant details in the application form itself. Later, you have the provision to change the nominee, by submitting the relevant form for that. A minor can be a nominee provided a guardian is specified. Please note that the nomination is Folio specific and if you make any further investments in the same folio, the old nomination is applicable to the new units also.

Nomination in PPF:-

You can nominate one or more persons as nominee in PPF. Form F can be used to change or cancel a nomination for PPF. Also note that you cannot nominate anyone if you open an account for a minor.

In case you have lakhs of rupees in PPF account you must check for nomination. As per PPF rules legal heirs will get maximum of Rs1 lakh only in case of PPF account without Nomination. So if you have not done nomination in PPF get it done now.

Nomination in Bank Accounts:-

While opening a new account, there is a column for nomination in the same form and you should fill it. Note that in case you have not done any nomination till now, you should request your bank branch and nominate a nominee.

Conclusion:-

To avoid financial loss and tussle at later stage it is better to nominate the right person in each of your insurance/investments, except for Share investments. If you have not nominated anyone as nominee I request you to complete nomination formalities in all financial products you own.

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Learning from Amitabh bachchan life

About Amitabh Bachchan

From Zero to Hero – Amitabh Bachchan

Money Management for Middle Class

Small Charges that adds up to big money

Importance of Nomination in Financial products

What is a nomination?

Point to remember while doing Nomination:-

Nomination in Life Insurance:-

Nomination in Shares:-

Nomination in Mutual Funds:-

Nomination in PPF:-

Nomination in Bank Accounts:-

Conclusion:-