Jatland's Guide To Be Wealthy and Successful !

My take on money is very similar to the story below. The only addition to the story is that I would like to equip myself with the skill and confidence to make money whenever I need more than I have. If I sleep each night thinking if I need I can I will be fine. In the meantime I don't think money should replace other beauties of life

Philosophy of Life

A boat docked in a tiny Mexican fishing village.

A tourist complimented the local fishermen on the quality of their fish and asked how long it took them to catch it.

"Not very long." they answered in unison.

"Why didn't you stay out longer and catch more?"

The fishermen explained that their small catches were sufficient to meet their needs and those of their families.

"But what do you do with the rest of your time?"

"We sleep late, fish a little, play with our children, and take siestas with our wives.
In the evenings, we go into the village to see our friends, have a few drinks, play the guitar, and sing a few songs.

We have a full life."

The tourist interrupted,

"I have an MBA from Harvard and I can help you!
You should start by fishing longer every day.
You can then sell the extra fish you catch.
With the extra revenue, you can buy a bigger boat."

"And after that?"

"With the extra money the larger boat will bring, you can buy a second one and a third one and so on until you have an entire fleet of trawlers.
Instead of selling your fish to a middle man, you can then negotiate directly with the processing plants and maybe even open your own plant.
You can then leave this little village and move to Mexico City, Los Angeles, or even New York City!

From there you can direct your huge new enterprise."

"How long would that take?"

"Twenty, perhaps twenty-five years." replied the tourist.

"And after that?"

"Afterwards? Well my friend, that's when it gets really interesting, " answered the tourist, laughing. "When your business gets really big, you can start buying and selling stocks and make millions!"

"Millions? Really? And after that?" asked the fishermen.
"After that you'll be able to retire,
live in a tiny village near the coast,
sleep late, play with your children,
catch a few fish, take a siesta with your wife
and spend your evenings drinking and enjoying your friends."

"With all due respect sir, but that's exactly what we are doing now. So what's the point wasting twenty-five years?" asked the Mexicans.

And the moral of this story is:

Know where you're going in life....
you may already be there.:)
 
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Agree with you Anil. But the reason for this is lack of awareness and knowledge in finance sector. The people who are capable to invest they keep on buying land in the villages and others keep on investing in safe funds which obviously offer very minimal interest rates. I believe when it comes to monetary things we pay less attention and don't bother to learn new things and end up with traditional investment means.
 
anilsangwan said:
Investments:

Most of the Jats dont go for investments/savings during good times esp when they have good earnings coming from various sources. Though it depends from person to person but I have seen many jats earning well but are least inclined towards investing for future. Saving mostly means Cash in bank account or "FD" / "RD" for them with least interest rates.

Secondly, sometimes investments are not made after careful watch and future earning potential. For example - buying an acre in village for 20 lakhs sometimes is not a better idea than buying a plot in good Huda sector. Later can appreciate at much faster rates.
Click to expand...

You are right Anil. I am one of such stupids. I can quote an example. At one point of time I was having a certain amount of money in Euro which was sufficient enough to purchase a 350 sq yards plot in Sector-7 of Sonepat as the premium was not very high at that time and major portion of the cost was to be paid in instalments. (US $ and Euro used to be almost equal at that time). One of my relatives (a prop dealer) advised me to invest that money in buying a plot in HUDA. I did not honour his advice and preferred to keep that money in liquid form. The second mistake I made was that I converted that money from Euro to USD. After some time US Dollar started tumbling down and could never regain that level. Meanwhile rates in HUDA started appreciating phenomenally during those days. Now I realize that mistake. There is a desi saying - घणी स्याणी का दो बार तवा चढ्या करै.
 
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Thanks for sharing this example sir.. I think most of us have made similar mistakes. Time is to learn from them and proceed ahead...... :)

vpsingh said:
You are right Anil. I am one of such stupids. I can quote an example. At one point of time I was having a certain amount of money in Euro which was sufficient enough to purchase a 350 sq yards plot in Sector-7 of Sonepat as the premium was not very high at that time and major portion of the cost was to be paid in instalments. (US $ and Euro used to be almost equal at that time). One of my relatives (a prop dealer) advised me to invest that money in buying a plot in HUDA. I did not honour his advice and preferred to keep that money in liquid form. The second mistake I made was that I converted that money from Euro to USD. After some time US Dollar started tumbling down and could never regain that level. Meanwhile rates in HUDA started appreciating phenomenally during those days. Now I realize that mistake. There is a desi saying - घणी स्याणी का दो बार तवा चढ्या करै.
Click to expand...
 
vpsingh said:
You are right Anil. I am one of such stupids. I can quote an example. At one point of time I was having a certain amount of money in Euro which was sufficient enough to purchase a 350 sq yards plot in Sector-7 of Sonepat as the premium was not very high at that time and major portion of the cost was to be paid in instalments. (US $ and Euro used to be almost equal at that time). One of my relatives (a prop dealer) advised me to invest that money in buying a plot in HUDA. I did not honour his advice and preferred to keep that money in liquid form. The second mistake I made was that I converted that money from Euro to USD. After some time US Dollar started tumbling down and could never regain that level. Meanwhile rates in HUDA started appreciating phenomenally during those days. Now I realize that mistake. There is a desi saying - घणी स्याणी का दो बार तवा चढ्या करै.
Click to expand...



I am sailing in similar boat. I did invest in property in Delhi at the peak of property prices assuming that the situation is just going to get worse as in the property prices will be sky high in future. But then the world economy was hit by GFC and property prices went down. I am now selling it. Any takers.....;);););)
 
A nice story with good moral shibani ji...nowadays, everybody is running to earn more n more n not giving emphasis to live this beautiful life lively..........

Shibani said:
My take on money is very similar to the story below. The only addition to the story is that I would like to equip myself with the skill and confidence to make money whenever I need more than I have. If I sleep each night thinking if I need I can I will be fine. In the meantime I don't think money should replace other beauties of life

Philosophy of Life

A boat docked in a tiny Mexican fishing village.

A tourist complimented the local fishermen on the quality of their fish and asked how long it took them to catch it.

"Not very long." they answered in unison.

"Why didn't you stay out longer and catch more?"

The fishermen explained that their small catches were sufficient to meet their needs and those of their families.

"But what do you do with the rest of your time?"

"We sleep late, fish a little, play with our children, and take siestas with our wives.
In the evenings, we go into the village to see our friends, have a few drinks, play the guitar, and sing a few songs.

We have a full life."

The tourist interrupted,

"I have an MBA from Harvard and I can help you!
You should start by fishing longer every day.
You can then sell the extra fish you catch.
With the extra revenue, you can buy a bigger boat."

"And after that?"

"With the extra money the larger boat will bring, you can buy a second one and a third one and so on until you have an entire fleet of trawlers.
Instead of selling your fish to a middle man, you can then negotiate directly with the processing plants and maybe even open your own plant.
You can then leave this little village and move to Mexico City, Los Angeles, or even New York City!

From there you can direct your huge new enterprise."

"How long would that take?"

"Twenty, perhaps twenty-five years." replied the tourist.

"And after that?"

"Afterwards? Well my friend, that's when it gets really interesting, " answered the tourist, laughing. "When your business gets really big, you can start buying and selling stocks and make millions!"

"Millions? Really? And after that?" asked the fishermen.
"After that you'll be able to retire,
live in a tiny village near the coast,
sleep late, play with your children,
catch a few fish, take a siesta with your wife
and spend your evenings drinking and enjoying your friends."

"With all due respect sir, but that's exactly what we are doing now. So what's the point wasting twenty-five years?" asked the Mexicans.

And the moral of this story is:

Know where you're going in life....
you may already be there.:)
Click to expand...
 
मेरा ऐसा मानना है कि पैसा इंसान कितना भी कमाए, लेकिन वो पैसा गलत रास्ते से कमाया गया ना हो. मैं ऐसा भी मानता हूं कि जितना पैसा कोई कमाता है, तो उतना ही उसे कुछ काम भी करना चाहिए. कहने का मतलब यह कि यदि कोई किसी बड़ी नौकरी में है और बिना कुछ ख़ास करे ही बहुत ज्यादा पैसे तनख्वाह के रूप में ले रहा है तो यह गलत है, जिसका दंड भी उसे भुगतना पड़ सकता है. जो उसका काम है, उसे वह पूरी ईमानदारी और लगन से करे. जीवन बहुत ही कठिन है. 'हम तो संतोषी जीवन जीना चाहते हैं', ऐसा कहने से बात नहीं बनती. किसी एक दिन सिर के एक हिस्से में दर्द होना शुरू हो जाता है और जांच करवाने पर पता चलता है कि सिर का ऑपरेशन होगा, जिस पर 2 लाख रुपए का खर्च आएगा तो ये संतोष वगैरह की सारी बातें धरी की धरी रह जाती हैं. भले ही विज्ञान के पास किसी भी बड़ी बिमारी का कोई इलाज नहीं है और केवल राहत है, इसके बावजूद इंसान अस्पताल में मरे तो मन को संतुष्टि-सी रहती है कि चलो इलाज तो करवाया था.
कोई गांव में रहता है तो उसका बढ़िया पक्का घर हो, कम से कम 20 बीघे जमीन हो, भैंस हो, कोई सवारी भी हो तो बढ़िया और कम से कम 2 लाख रुपए नकद हों. शहर में रहने वालों के लिए बस इतनी रियायत है कि जमीन कम हो तो चल जाएगा. कहने का मतलब यह कि सारी जायज जरूरतें ससम्मान पूरी हो सकें, यहां तक तो सभी को प्रयास करना ही चाहिए. इसके बाद सीधे रास्ते, मेहनत और ईमानदारी से कोई कितना भी कमाए. अगर इतना करने में भी हम खुद को असमर्थ महसूस करते हैं तो फिर कम से कम हमें कोई तपस्या पकड़ लेनी चाहिए, जैसे कि मैं तो किसी भी हाल में शराब, बीड़ी-सिगरेट वगैरह नहीं पियूंगा, कोई गलत काम नहीं करूंगा इत्यादि. जो लोग ऐसा करते हैं, भले ही वे निर्धन हों, तो भी उनका एक अलग ही रुतबा होता है.
ज्यादा से ज्यादा धन कैसे कमाया जाए, इसके बारे में बोलता हुआ मैं अच्छा नहीं लगूंगा, क्योंकि अभी मैं खुद इस जुगत में हूं कि कैसे मैं भी सीधे रास्ते से भरपूर धन कमा सकूं.
 
One thing that i have noticed in my life span( till now) , whosoever made money they all made it through the work they loved doing not the vice-versa. so mera manna hai jo kaam karte ho usse puri lagan aur mehnat se karo enjoy karte huye paisa bhi apne aap aa jayega. N if you have money theh throw it in market, keeping it in liquid will not earn anything.

Ps-10%/pa return kise ne chahiye to mujhe contact kar lena with minimum 1 year deposit...:)
 
rinkusheoran said:
N if you have money theh throw it in market, keeping it in liquid will not earn anything.

Ps-10%/pa return kise ne chahiye to mujhe contact kar lena with minimum 1 year deposit...:)
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It all depends on how much risk one can take, Markets are very volatile so do not put also do not put all your eggs in one basket. . I have seen people investing in market and loosing their sleep. So invest as per you comfort level. Never become greedy. Greed is an infestation that can destroy societies and nations.

Our political leaders are live examples. The current ministers (including PM) might had worked very hard to get to the respective positions (respectable position). However, because of the greed they got indulged in the scams and thus lost whatever respect (value) they had. - A perfect live example of what Shibani ji had posted in thread 21 above.
 
vpsingh said:
You are right Anil. I am one of such stupids. I can quote an example. At one point of time I was having a certain amount of money in Euro which was sufficient enough to purchase a 350 sq yards plot in Sector-7 of Sonepat as the premium was not very high at that time and major portion of the cost was to be paid in instalments. (US $ and Euro used to be almost equal at that time). One of my relatives (a prop dealer) advised me to invest that money in buying a plot in HUDA. I did not honour his advice and preferred to keep that money in liquid form. The second mistake I made was that I converted that money from Euro to USD. After some time US Dollar started tumbling down and could never regain that level. Meanwhile rates in HUDA started appreciating phenomenally during those days. Now I realize that mistake. There is a desi saying - घणी स्याणी का दो बार तवा चढ्या करै.
Click to expand...

Opportunities never die. If you love money, don't regret, find other opportunities.
Just a piece of suggestion, Money is important but not more then our soul and body. For any investment and wealth, our own soul and body should take priority in the investment planning.

For some, even body is not important, they only consider soul - I am not in that category though.

 
समर भाई
कृषि संबधी चर्चा में मैंने आपसे कुछ प्रशन किया है, वही प्रशन यहाँ भी दोहराता हूँ !
जब आप,अपनी शिक्षा पूरी कर भारत आए, अपने मन मस्तिष्क में एक उन्नंत कृषक की तस्वीर बसा कर आये थे !
क्या वह तश्वीर अब भी आपके मस्तिष्क में विधमान है, धुंधला गई है या खंडित हो गई है ?
फिर उसी सुझाव के साथ, " लम्बा व् कठिन रास्ता ही असली मंजिल तक ले कर जाता है "
किसी तुर्की महापुरुष का एक और ब्रह्मवाकया, "दुर्गम रास्तों पर भी, अच्छे सहयात्री, यात्रा आसन बना देते हैं"
अच्छा, अब कुछ साहस दिखाइए !
चेतावनी: में अपनी व्यापार सम्बन्धी कमजोरियां और रुकावटें अपनों से शेयर नहीं करता था, इसीलिए लाखों रूपये का घटा खाया, बहुमूल्य समय बर्बाद किया, दर २ की ठोकरें खाई !
वो चेतावनी( टोटे ने पुराना न करे ) मेरे ताऊजी ने मेरे लिए ही दी थी, क्योंकि मैंने उनसे चर्चा नहीं की थी, पर वे इतने बुद्धिमान तो थे ही की उनको स्वयं ही अंदाजा हो गया था की मेरे व्यापार में सब कुछ ठीक नहीं चल रहा था !
 
NoBigDeal.in

Hello friends,

This is an initiative by me and some friends in the field of real estate and other services.
We have already done a deal in Mumbai saving our patrons nearly 25% and now plan to take the initiative online.
Help us spread the word. If you are on facebook, do "like' us and join us.
Also if interested in investing/buying an apartment on the listed places, allow us to help you out.
Visit our website and do write to me for any suggestions.

Regards,

Amit Dabas
 
Beware of real-estate agents - indiaspace

amitdabas22 said:
NoBigDeal.in

Hello friends,

This is an initiative by me and some friends in the field of real estate and other services.
We have already done a deal in Mumbai saving our patrons nearly 25% and now plan to take the initiative online.
Help us spread the word. If you are on facebook, do "like' us and join us.
Also if interested in investing/buying an apartment on the listed places, allow us to help you out.
Visit our website and do write to me for any suggestions.

Regards,

Amit Dabas
Click to expand...

Amit Bhai, unfortunately, this real-estate business falls into one of most unethical and immoral domains of business. इस धंदे में रिश्तेदार अनजाने तै घना काटा जा स! I hope you will not exploit upon the jat-jat trust.

Some of the important tips for people to remember before dealing in real-estate are given at http://digg.com/news/world_news/Beware_of_Jeetender_Gupta_n_Indiaspaces_com

@Sateypal Ji, could you provide us an opportunity to learn from each other's mistake. To learn from mistakes is essential to be successful in investments.


PS: The broker, "Jeetender Gupta" of "Indiaspaces", is married to a half-jatni (her mother is baniya). I had once met him at his father-in-law's house (a well known jat in faridabad) and had trusted him.
 
Arvind Bhai,

Thanks for your suggestion and guidance.
Jo unethical ar immoral tarike te kaam kiya to thode e din chaalega.
Koshish hai acchi tarike se karne ki and be of some value to the customer.
Would keep your words in mind.

Thank you.
 
I would like to setup a green house.

I have visited 4-5 Green houses, some of them were successful and some failed. To know better how it works.

Here too, I seek your advise, is it a good business ?
 
Real Estate Rated as the Most Corrupt Industry in India- KPMG

amitdabas22 said:
Arvind Bhai,

Thanks for your suggestion and guidance.
Jo unethical ar immoral tarike te kaam kiya to thode e din chaalega.
Koshish hai acchi tarike se karne ki and be of some value to the customer.
Would keep your words in mind.

Thank you.
Click to expand...

Amit Bhai,
Another unfortunate news for your profession.
-----------------
Real Estate Rated as the Most Corrupt Industry in India- KPMG Link: http://www.indianrealtynews.com/real-estate-india/real-estate-rated-as-the-most-corrupt-industry-in-india-kpmg.html

Real estate sector has topped the list of industries perceived to be the most corrupt in India, followed by telecommunications and social development sectors in a survey conducted by global consultancy firm KPMG. Nearly half of the respondents in the survey are of the view that real estate, construction and telecommunication sectors are most prone to corruption because government and political intervention is considered higher in these sectors, KPMG stated here. Large capital investments, multi-level approvals, complex processes and huge projects give immense opportunity for corruption, the survey said.

Financial services, defense, information technology and IT-enabled services, energy and power sectors are also perceived to be corrupt, in that order, the survey noted. Sixty-eight percent of respondents believed that the country can achieve more than the projected 9% economic growth if corruption is controlled, while 51% feared that rising corruption will make India less attractive to foreign investment. As many as 90% of respondents believed that corruption negatively impacted stock market performance.

“Regulations in the country focus on the bribe taker rather than on the payer and hence corporate houses do not shy away from adopting corrupt practices. However, the global environment is rapidly changing and it will only be a matter of time before Indian regulators align themselves on global anti-corruption practices”, the survey quoted KPMG’s risk and compliance head Deepankar Sanwalka as saying. The survey is based on responses of about 100 corporates, mainly MNCs (48%), India based MNCs (28%) and domestic Indian firms. KPMG had sent its detailed set of qestions to about 300 companies.
 
rinkusheoran said:
One thing that i have noticed in my life span( till now) , whosoever made money they all made it through the work they loved doing not the vice-versa. so mera manna hai jo kaam karte ho usse puri lagan aur mehnat se karo enjoy karte huye paisa bhi apne aap aa jayega. N if you have money theh throw it in market, keeping it in liquid will not earn anything.

Ps-10%/pa return kise ne chahiye to mujhe contact kar lena with minimum 1 year deposit...:)
Click to expand...


mujhey de do bhaiyaa ye return paise sameet
 
Found this very useful thread while browsing. Read the viewpoints of all fellow members, and was curious to get more "pearls of wisdom" from wise JLanders :-)!
Samarkadian said:

''पैसा सब कुछ नहीं जानी, मगर बहुत कुछ है!''

ये सवांद हम अक्सर हिंदी चलचित्रों में नायक या खलनायक को कहते हुए सुन चुके है और आगे भी सुनते रहेंगे !

भीष्म इसी चर्चा को आगे बढ़ाते हुए अपना तर्क देते हैं, '' इछाये , सदगुण एवं धन की त्रिमूर्ति पुरे विश्व में उत्तम मानी गयी है !''
----------------------------------------------------------------~~~~~~~~----------------------------------------------------
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spdeshwal said:
टोटे ने पुराना नहीं करे !
मेरे ताऊ जी खेती के साथ-२ पशुओं, खासकर भेंसों की खरीद फरोख्त का भी काम करते थे !
वो हमेशा एक बात कहते थे, " टोटे ने पुराना नहीं करे" वह खुद भी इसका पालन करते थे!
जब उन्हें लगता कि कोई पशु उनके अनुमान पर खरा नहीं उतरेगा, उसे वो तुरंत बेच देते थे !
यानि कि लगातार नुक्सान वाले कारोबार को लंबा नहीं खेंचना चाहिए !
आमतोर पर होता यह है कि व्यापार में लोग, लगातार नुक्सान देने वाले व्यापार को और धन जुटा कर
सुधार करने का प्रयत्न करते हैं ! ऐसी स्टेज पर ऋण बहुत महंगा और कठिन शर्तों पर मिलता है !
अतः इस तरह के वयापार को बंद करना एक कठोर पर उपयुक्त निर्णय होगा

क्रमश
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vpsingh said:
You are right Anil. I am one of such stupids. I can quote an example. At one point of time I was having a certain amount of money in Euro which was sufficient enough to purchase a 350 sq yards plot in Sector-7 of Sonepat as the premium was not very high at that time and major portion of the cost was to be paid in instalments. (US $ and Euro used to be almost equal at that time). One of my relatives (a prop dealer) advised me to invest that money in buying a plot in HUDA. I did not honour his advice and preferred to keep that money in liquid form. The second mistake I made was that I converted that money from Euro to USD. After some time US Dollar started tumbling down and could never regain that level. Meanwhile rates in HUDA started appreciating phenomenally during those days. Now I realize that mistake. There is a desi saying - घणी स्याणी का दो बार तवा चढ्या करै.
Click to expand...

Similiar case here VP singh Ji
 
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