Some Wealth and Life Gyaan – Subramoney

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I have some life and wealth gyaan which do not really fit in anywhere, hence a separate post….

  1. Wealth is a Mindset – not a sum of money! I met a taxi-driver who knew that the next way to break into the wealth mindset was education. 2 sons were engineers – one was now pursuing his MBA, the 3rd son was planning to do CA. Nothing to do with his current situation. He had a Life insurance policy for all the 3 kids – maturing at their age of 22 – so that they get a start in life!
  2. You should be willing to give up bad habits like watching TV, buying lottery tickets, gambling, procrastinating, spending all your earning, spending using credit cards, etc.
  3. You should be willing to walk away from negative forces – like people who keep saying “you can’t”. The taxi driver changed his house location from a gangster location to a more friendly location. He said his sons would have been drawn into being a gangster if he stayed in the original place. We need to make positive choices of friends, neighbors, etc.
  4. If you are under 25 stop listening to old people telling you to invest in Index funds – we are just hoping that you will buy when we have to sell. Go and create your unicorn. Go and fail, life is too long to spent on regret. At 35 you can get married (if you want) and then lead a “normal” life working for somebody else.
  5. Invest in experiences, not things – if a phone costing Rs. 30k can do a good job, don’t spend Rs. 1.20L on an expensive phone – 90k can go towards funding a vacation to Europe! Trekking in the Himalayas or doing Everest base camp are far better experiences to spend on instead of spending a fortune on things that you do not use!
  6. Remember that ‘Pain’ and ‘Pleasure’ follow each other – if you choose the pain of lacing up and going for a run, it will be followed by the pleasure of being fit. If you choose the “pleasure” of tucking up in bed in the morning, it will be followed by the “pain” of poor fitness!
  7. You need simple financial products – index funds, pure term insurance, one or 2 credit cards, one or 2 savings bank account, medical insurance, a mortgage. Once you have them start saying NO to most of the other financial products. Just say NO.
  8. Having money (being financially free) gives you the choice of where to stay, what to wear, what to eat, whom to meet, what work to do – and with whom. This is huge, almost EPIC.
  9. The worst thing about financial freedom is it takes away all EXCUSES that your mind makes up for not exercising, not learning Sanskrit, not reading the scriptures, not going to Everest Base camp, – so find new things, or bloody well go and live your dreams.
  10. One bad marriage does not mean you should not re-marry. Ditto in investing.
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As a professional trainer, Subra trains a lot of people – corporate employees, promoters, non-finance managers, fund managers, entrepreneurs, life insurance agents, journalists, PR agencies, and anyone who wants to learn. His style is simple – He tells stories of real people, real experiences, and breaks down complicated topics into easy to understand lessons.
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