Is lack of time making you go crazy in your attempt to plan your finance?
Does your busy professional schedule offer you time to monitor your personal finance?
Balaji is working for an MNC. Today he has got a deadline for a particular assignment. His day is fully packed. First thing in the morning, he receives a mail from his HR Dept stating that today is the last date for producing proofs for tax saving investments; otherwise a huge amount will be deducted from his salary as tax. He wanted to do some tax saving investments urgently and submit the proof on or before end of the day.
Mahesh is an NRI, working for a software company in US. He has got a couple of crores in his overseas fixed deposits giving a return of 1.50% p.a. Returns are taxable. At times, he thinks that the return what he getting is very low. He wanted to check up with a professional financial planner in India. He thinks he will contact as soon as his present project gets completed. Like this he has not contacted any financial consultant for the last 3years because of some reason or the other.
Most of the investment decisions are either taken because of some compulsion or urgency or postponed because of compulsion or urgency in some other area of life. This is because we want to complete the urgent thing first not the most important thing. Many important things that contribute to our overall financial objectives and give richness don’t tend to give any pressure on us. Though they may not be urgent, they are the things that we must give importance and carry out immediately.
We act upon things like pressing problems, deadline-driven projects, and official meetings. We don’t give importance to
• prepare for a meeting with a financial planner; appraising a financial planner before making investments
• planning activities like budgeting, children’s future planning, retirement planning;
• protective activities like taking a term insurance, house holder policy, health insurance;
• empowering ourselves by upgrading our knowledge with reference to investments
Why we are not able spend time on important things and spend most of our time on urgent things? Because, we are following a way that focuses on how fast or efficiently we are getting things done. We are not following a way that focuses on why we are doing things.
Take the case of Mr.Balaji. Why didn’t he do his tax planning during the beginning of the financial year itself? Why is he chasing at the last minute? Balaji is much worried about his deadline for assignment than tax planning. As he is making investment urgently, it is difficult for him to choose the right financial advisor and also difficult to judge which one would be the best tax saving option for him. He will be investing with an advisor who can get the investment proof on the same day.
Is this the basis on which we select an investment advisor? Will the relationship of Mahesh and this advisor be a long term one? Will this investment is going to be of any help to Balaji in meeting the higher education expenses of his son after 15 years?
Coming to the case of Mr. Mahesh, he had couple of crores at 1.5% pre-tax return. He could have tripled his returns by investing in an Indian liquid fund which is very safe. There are far better investment options available for him to choose. But he has settled for 1.5%.
If he could have spent a day or two in carefully choosing the right financial advisor and investment product he could have earned more. The earning opportunity which he missed with his investments might equal to his 6 months or 1 year salary.
He could have generated that passive income equivalent to 6 month or 1 year salary without any pressure from the top management; without meeting any deadlines by just spending a day or two.
We are all working hard for money. Is our hard earned money is working for us or lying in our SB a/c or really growing?
We find a ladder and see there are so many people trying to reach the top of the ladder faster. Then we also follow the group, deadlines to be met in each and every step; focusing more on reaching the top and finally reached the top. Only after reaching the top, we realize that we have come to a very wrong place or a place which is not worth missing so many things and opportunities in life. This is how the today’s world is.
Nothing wrong in working harder or focusing more on completing the assignment or spending more time on finishing the project on deadline. These are all good thing to do. But always remember, there are better and best things to do. We keep too many good things ahead of a few best things.
Setting up financial goals; working out a plan for achieving those goals; and implementing those plans are all best things to do in life. You know in advance where you want to reach exactly, by doing this exercise. As we progress, we enjoy the journey. As we reach the place, we really feel happy and we have not missed any important thing on the way.
Procrastination and not giving priority to financial goals and investment plans are costliest mistake one can take. So let us stop procrastinating and give priority to our financial goal setting and investment planning. Then life will be really so beautiful.
The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners (www.holisticinvestment.in) a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.
Wednesday, 31 August 2011
Flying creature in crystal river: Story of a messiah
Once there lived a village of creatures along the bottom of a great crystal river.
The current of the river swept silently over them all – young and old, rich and poor, good and evil, the current going its own way knowing only its own crystal self.
Each creature in its own manner clung tightly to the twigs and rocks of the river bottom, for clinging was their way of life, and resisting the current what each had learned from birth.
But one creature said at last. “I am tired of clinging. Though I cannot see it with my eyes, I trust that the current knows where it is going. I shall let go, and let it take me where it will. Clinging, I shall die of boredom.
The other creatures laughed and said: “Fool! Let go, and that current you worship will throw you tumbled and smashed across the rocks, and you will die quicker than boredom!”
But the one heeded them not, and taking a breath let go, and at once was tumbled and smashed by the current across the rocks.
Yet in time, as the creature refused to cling again, the current lifted him free from the bottom and he was bruised no more.
And the creatures downstream, to whom he was a stranger, cried, “See a miracle! A creature like ourselves, yet he flies! See the Messiah, come to save us all!”
And the one carried in the current said. “I am no more Messiah than you. The river delights to lift us free, if only we dare let go. Our true work is this voyage, this adventure.”
But they cried the more, “Saviour!” all the while clinging to the rocks, and when they looked again, he was gone, and they were left alone making legends of a Saviour.”
“What you hold on to most dear will always hold you back!!”
Source: “Illusions” – by Richard Bach
The current of the river swept silently over them all – young and old, rich and poor, good and evil, the current going its own way knowing only its own crystal self.
Each creature in its own manner clung tightly to the twigs and rocks of the river bottom, for clinging was their way of life, and resisting the current what each had learned from birth.
But one creature said at last. “I am tired of clinging. Though I cannot see it with my eyes, I trust that the current knows where it is going. I shall let go, and let it take me where it will. Clinging, I shall die of boredom.
The other creatures laughed and said: “Fool! Let go, and that current you worship will throw you tumbled and smashed across the rocks, and you will die quicker than boredom!”
But the one heeded them not, and taking a breath let go, and at once was tumbled and smashed by the current across the rocks.
Yet in time, as the creature refused to cling again, the current lifted him free from the bottom and he was bruised no more.
And the creatures downstream, to whom he was a stranger, cried, “See a miracle! A creature like ourselves, yet he flies! See the Messiah, come to save us all!”
And the one carried in the current said. “I am no more Messiah than you. The river delights to lift us free, if only we dare let go. Our true work is this voyage, this adventure.”
But they cried the more, “Saviour!” all the while clinging to the rocks, and when they looked again, he was gone, and they were left alone making legends of a Saviour.”
“What you hold on to most dear will always hold you back!!”
Source: “Illusions” – by Richard Bach
The Folded Napkin - A Trucker Stop Story
"I try not to be biased, but I had my doubts about hiring Stevie. His placement counselor assured me that he would be a good, reliable busboy. But I had never had a mentally handicapped employee and wasn't sure I wanted one. I wasn't sure how my customers would react to Stevie.
He was short, a little dumpy with the smooth facial features and thick-tongued speech of Downs Syndrome. I wasn't worried about most of my trucker customers because truckers don't generally care who buses tables as long as the meatloaf platter is good and the pies are homemade.
The ones who concerned me were the mouthy college kids traveling to school; the yuppie snobs who secretly polish their silverware with their napkins for fear of catching some dreaded 'truck stop germ'; the pairs of white-shirted business men on expense accounts who think every truck stop waitress wants to be flirted with. I knew those people would be uncomfortable around Stevie so I closely watched him for the first few weeks...
I shouldn't have worried. After the first week, Stevie had my staff wrapped around his stubby little finger, and within a month my truck regulars had adopted him as their official truck stop mascot.
After that, I really didn't care what the rest of the customers thought of him. He was like a 21-year-old in blue jeans and Nikes, eager to laugh and eager to please, but fierce in his attention to his duties. Every salt and peppershaker was exactly in its place, not a breadcrumb or coffee spill was visible when Stevie got done with the table.
Our only problem was persuading him to wait to clean a table until after the customers were finished. He would hover in the background, shifting his weight from one foot to the other, scanning the dining room until a table was empty. Then he would scurry to the empty table and carefully bus dishes and glasses onto his cart and meticulously wipe the table up with a practiced flourish of his rag.
If he thought a customer was watching, his brow would pucker with added concentration. He took pride in doing his job exactly right, and you had to love how hard he tried to please each and every person he met.
Over time, we learned that he lived with his mother, a widow who was disabled after repeated surgeries for cancer. They lived on their Social Security benefits in public housing two miles from the truck stop. Their social worker, who stopped to check on him every so often, admitted they had fallen between the cracks. Money was tight, and what I paid him was probably the difference between them being able to live together and Stevie being sent to a group home. That's why the restaurant was a gloomy place that morning last August, the first morning in three years that Stevie missed work.
He was at the Mayo Clinic in Rochester getting a new valve or something put in his heart. His social worker said that people with Downs Syndrome often have heart problems at an early age so this wasn't unexpected, and there was a good chance he would come through the surgery in good shape and be back at work in a few months.
A ripple of excitement ran through the staff later that morning when word came that he was out of surgery, in recovery, and doing fine.
Frannie, the head waitress, let out a war hoop and did a little dance in the aisle when she heard the good news.
Bell Ringer, one of our regular trucker customers, stared at the sight of this 50-year-old grandmother of four doing a victory shimmy beside his table.
Frannie blushed, smoothed her apron and shot Bell Ringer a withering look.
He grinned. 'OK, Frannie , what was that all about?' he asked..
'We just got word that Stevie is out of surgery and going to be okay.'
'I was wondering where he was. I had a new joke to tell him. What was the surgery about?'
Frannie quickly told Bell Ringer and the other two drivers sitting at his booth about Stevie's surgery then sighed: 'Yeah, I'm glad he is going to be OK,' she said. 'But I don't know how he and his Mom are going to handle all the bills. From what I hear, they're barely getting by as it is.' Bell Ringer nodded thoughtfully, and Frannie hurried off to wait on the rest of her tables. Since I hadn't had time to round up a busboy to replace Stevie and really didn't want to replace him, the girls were busing their own tables that day until we decided what to do.
After the morning rush, Frannie walked into my office. She had a couple of paper napkins in her hand and a funny look on her face.
'What's up?' I asked.
'I didn't get that table where Bell Ringer and his friends were sitting cleared off after they left, and Pony Pete and Tony Tipper were sitting there when I got back to clean it off,' she said. 'This was folded and tucked under a coffee cup.'
She handed the napkin to me, and three $20 bills fell onto my desk when I opened it. On the outside, in big, bold letters, was printed 'Something For Stevie'.
'Pony Pete asked me what that was all about,' she said, 'so I told him about Stevie and his Mom and everything, and Pete looked at Tony and Tony looked at Pete, and they ended up giving me this.'
She handed me another paper napkin that had 'Something For Stevie' scrawled on its outside. Two $50 bills were tucked within its folds. Frannie looked at me with wet, shiny eyes, shook her head and said simply: 'Truckers!!'
That was three months ago. Today is Thanksgiving, the first day Stevie is supposed to be back to work.
His placement worker said he's been counting the days until the doctor said he could work, and it didn't matter at all that it was a holiday. He called ten times in the past week, making sure we knew he was coming, fearful that we had forgotten him or that his job was in jeopardy.
I arranged to have his mother bring him to work. I then met them in the parking lot and invited them both to celebrate his day back.
Stevie was thinner and paler, but couldn't stop grinning as he pushed through the doors and headed for the back room where his apron and busing cart were waiting
'Hold up there, Stevie, not so fast,' I said. I took him and his mother by their arms. 'Work can wait for a minute. To celebrate you coming back, breakfast for you and your mother is on me!'
I led them toward a large corner booth at the rear of the room.
I could feel and hear the rest of the staff following behind as we marched through the dining room. Glancing over my shoulder, I saw booth after booth of grinning truckers empty and join the procession. We stopped in front of the big table. Its surface was covered with coffee cups, saucers and dinner plates, all sitting slightly crooked on dozens of folded paper napkins 'First thing you have to do, Stevie, is clean up this mess,' I said. I tried to sound stern.
Stevie looked at me, and then at his mother, then pulled out one of the napkins. It had 'Something for Stevie' printed on the outside. As he picked it up, two $10 bills fell onto the table.
Stevie stared at the money, then at all the napkins peeking from beneath the tableware, each with his name printed or scrawled on it. I turned to his mother. 'There's more than $10,000 in cash and checks on that table, all from truckers and trucking companies that heard about your problems. 'Happy Thanksgiving.'
Well, it got real noisy about that time, with everybody hollering and shouting, and there were a few tears, as well.
But you know what's funny? While everybody else was busy shaking hands and hugging each other, Stevie, with a big, big smile on his face, was busy clearing all the cups and dishes from the table....
Best worker I ever hired."
Plant a seed and watch it grow.....
Source: Rohan Singal
He was short, a little dumpy with the smooth facial features and thick-tongued speech of Downs Syndrome. I wasn't worried about most of my trucker customers because truckers don't generally care who buses tables as long as the meatloaf platter is good and the pies are homemade.
The ones who concerned me were the mouthy college kids traveling to school; the yuppie snobs who secretly polish their silverware with their napkins for fear of catching some dreaded 'truck stop germ'; the pairs of white-shirted business men on expense accounts who think every truck stop waitress wants to be flirted with. I knew those people would be uncomfortable around Stevie so I closely watched him for the first few weeks...
I shouldn't have worried. After the first week, Stevie had my staff wrapped around his stubby little finger, and within a month my truck regulars had adopted him as their official truck stop mascot.
After that, I really didn't care what the rest of the customers thought of him. He was like a 21-year-old in blue jeans and Nikes, eager to laugh and eager to please, but fierce in his attention to his duties. Every salt and peppershaker was exactly in its place, not a breadcrumb or coffee spill was visible when Stevie got done with the table.
Our only problem was persuading him to wait to clean a table until after the customers were finished. He would hover in the background, shifting his weight from one foot to the other, scanning the dining room until a table was empty. Then he would scurry to the empty table and carefully bus dishes and glasses onto his cart and meticulously wipe the table up with a practiced flourish of his rag.
If he thought a customer was watching, his brow would pucker with added concentration. He took pride in doing his job exactly right, and you had to love how hard he tried to please each and every person he met.
Over time, we learned that he lived with his mother, a widow who was disabled after repeated surgeries for cancer. They lived on their Social Security benefits in public housing two miles from the truck stop. Their social worker, who stopped to check on him every so often, admitted they had fallen between the cracks. Money was tight, and what I paid him was probably the difference between them being able to live together and Stevie being sent to a group home. That's why the restaurant was a gloomy place that morning last August, the first morning in three years that Stevie missed work.
He was at the Mayo Clinic in Rochester getting a new valve or something put in his heart. His social worker said that people with Downs Syndrome often have heart problems at an early age so this wasn't unexpected, and there was a good chance he would come through the surgery in good shape and be back at work in a few months.
A ripple of excitement ran through the staff later that morning when word came that he was out of surgery, in recovery, and doing fine.
Frannie, the head waitress, let out a war hoop and did a little dance in the aisle when she heard the good news.
Bell Ringer, one of our regular trucker customers, stared at the sight of this 50-year-old grandmother of four doing a victory shimmy beside his table.
Frannie blushed, smoothed her apron and shot Bell Ringer a withering look.
He grinned. 'OK, Frannie , what was that all about?' he asked..
'We just got word that Stevie is out of surgery and going to be okay.'
'I was wondering where he was. I had a new joke to tell him. What was the surgery about?'
Frannie quickly told Bell Ringer and the other two drivers sitting at his booth about Stevie's surgery then sighed: 'Yeah, I'm glad he is going to be OK,' she said. 'But I don't know how he and his Mom are going to handle all the bills. From what I hear, they're barely getting by as it is.' Bell Ringer nodded thoughtfully, and Frannie hurried off to wait on the rest of her tables. Since I hadn't had time to round up a busboy to replace Stevie and really didn't want to replace him, the girls were busing their own tables that day until we decided what to do.
After the morning rush, Frannie walked into my office. She had a couple of paper napkins in her hand and a funny look on her face.
'What's up?' I asked.
'I didn't get that table where Bell Ringer and his friends were sitting cleared off after they left, and Pony Pete and Tony Tipper were sitting there when I got back to clean it off,' she said. 'This was folded and tucked under a coffee cup.'
She handed the napkin to me, and three $20 bills fell onto my desk when I opened it. On the outside, in big, bold letters, was printed 'Something For Stevie'.
'Pony Pete asked me what that was all about,' she said, 'so I told him about Stevie and his Mom and everything, and Pete looked at Tony and Tony looked at Pete, and they ended up giving me this.'
She handed me another paper napkin that had 'Something For Stevie' scrawled on its outside. Two $50 bills were tucked within its folds. Frannie looked at me with wet, shiny eyes, shook her head and said simply: 'Truckers!!'
That was three months ago. Today is Thanksgiving, the first day Stevie is supposed to be back to work.
His placement worker said he's been counting the days until the doctor said he could work, and it didn't matter at all that it was a holiday. He called ten times in the past week, making sure we knew he was coming, fearful that we had forgotten him or that his job was in jeopardy.
I arranged to have his mother bring him to work. I then met them in the parking lot and invited them both to celebrate his day back.
Stevie was thinner and paler, but couldn't stop grinning as he pushed through the doors and headed for the back room where his apron and busing cart were waiting
'Hold up there, Stevie, not so fast,' I said. I took him and his mother by their arms. 'Work can wait for a minute. To celebrate you coming back, breakfast for you and your mother is on me!'
I led them toward a large corner booth at the rear of the room.
I could feel and hear the rest of the staff following behind as we marched through the dining room. Glancing over my shoulder, I saw booth after booth of grinning truckers empty and join the procession. We stopped in front of the big table. Its surface was covered with coffee cups, saucers and dinner plates, all sitting slightly crooked on dozens of folded paper napkins 'First thing you have to do, Stevie, is clean up this mess,' I said. I tried to sound stern.
Stevie looked at me, and then at his mother, then pulled out one of the napkins. It had 'Something for Stevie' printed on the outside. As he picked it up, two $10 bills fell onto the table.
Stevie stared at the money, then at all the napkins peeking from beneath the tableware, each with his name printed or scrawled on it. I turned to his mother. 'There's more than $10,000 in cash and checks on that table, all from truckers and trucking companies that heard about your problems. 'Happy Thanksgiving.'
Well, it got real noisy about that time, with everybody hollering and shouting, and there were a few tears, as well.
But you know what's funny? While everybody else was busy shaking hands and hugging each other, Stevie, with a big, big smile on his face, was busy clearing all the cups and dishes from the table....
Best worker I ever hired."
Plant a seed and watch it grow.....
Source: Rohan Singal
A tale of two seas - lessons from nature
Sitting in the Geography class in school, I remember how fascinated I was when we were being taught all about the Dead Sea. As you probably recall, the Dead Sea is really a Lake, not a sea (and as my Geography teacher pointed out, if you understood that, it would guarantee 4 marks in the term paper!) It’s so high in salt content that the human body can float easily. You can almost lie down and read a book! The salt in the Dead Sea is as high as 35% - almost 10 times the normal ocean water. And all that saltiness has meant that there is no life at all in the Dead Sea. No fish. No vegetation. No sea animals. Nothing lives in the Dead Sea.
And hence the name: Dead Sea.
While the Dead Sea has remained etched in my memory, I don't seem to recall learning about the Sea of Galilee in my school Geography lesson. So when I heard about the Sea of Galilee and the Dead Sea and the tale of the two seas - I was intrigued.
Turns out that the Sea of Galilee is just north of the Dead Sea. Both the Sea of Galilee and the Dead Sea receive their water from river Jordan. And yet, they are very, very different.
Unlike the Dead Sea, the Sea of Galilee is pretty, resplendent with rich, colorful marine life. There are lots of plants. And lots of fish too. In fact, the Sea of Galilee is home to over twenty different types of fishes.
Same region, same source of water, and yet while one sea is full of life, the other is dead. How come?
Here’s apparently why. The River Jordan flows into the Sea of Galilee and then flows out. The water simply passes through the Sea of Galilee in and then out - and that keeps the sea healthy and vibrant, teeming with marine life.
But the Dead Sea is so far below the mean sea level, that it has no outlet. The water flows in from the river Jordan, but does not flow out. There are no outlet streams. It is estimated that over 7 million tons of water evaporate from the Dead Sea every day. Leaving it salty. Too full of minerals. And unfit for any marine life.
The Dead Sea takes water from the River Jordan, and holds it. It does not give.
Result? No life at all.
Think about it.
Life is not just about getting. Its about giving. We all need to be a bit like the Sea of Galilee.
We are fortunate to get wealth, knowledge, love and respect. But if we don't learn to give, we could all end up like the Dead Sea. The love and the respect, the wealth and the knowledge could all evaporate. Like the water in the Dead Sea.
If we get the Dead Sea mentality of merely taking in more water, more money, more everything the results can be disastrous.
Good idea to make sure that in the sea of your own life, you have outlets. Many outlets. For love and wealth - and everything else that you get in your life. Make sure you don't just get, you give too.
Open the taps. And you'll open the floodgates to happiness. Make that a habit. To share. To give.
And experience life. Experience the magic!
Source: Rohan Singal
And hence the name: Dead Sea.
While the Dead Sea has remained etched in my memory, I don't seem to recall learning about the Sea of Galilee in my school Geography lesson. So when I heard about the Sea of Galilee and the Dead Sea and the tale of the two seas - I was intrigued.
Turns out that the Sea of Galilee is just north of the Dead Sea. Both the Sea of Galilee and the Dead Sea receive their water from river Jordan. And yet, they are very, very different.
Unlike the Dead Sea, the Sea of Galilee is pretty, resplendent with rich, colorful marine life. There are lots of plants. And lots of fish too. In fact, the Sea of Galilee is home to over twenty different types of fishes.
Same region, same source of water, and yet while one sea is full of life, the other is dead. How come?
Here’s apparently why. The River Jordan flows into the Sea of Galilee and then flows out. The water simply passes through the Sea of Galilee in and then out - and that keeps the sea healthy and vibrant, teeming with marine life.
But the Dead Sea is so far below the mean sea level, that it has no outlet. The water flows in from the river Jordan, but does not flow out. There are no outlet streams. It is estimated that over 7 million tons of water evaporate from the Dead Sea every day. Leaving it salty. Too full of minerals. And unfit for any marine life.
The Dead Sea takes water from the River Jordan, and holds it. It does not give.
Result? No life at all.
Think about it.
Life is not just about getting. Its about giving. We all need to be a bit like the Sea of Galilee.
We are fortunate to get wealth, knowledge, love and respect. But if we don't learn to give, we could all end up like the Dead Sea. The love and the respect, the wealth and the knowledge could all evaporate. Like the water in the Dead Sea.
If we get the Dead Sea mentality of merely taking in more water, more money, more everything the results can be disastrous.
Good idea to make sure that in the sea of your own life, you have outlets. Many outlets. For love and wealth - and everything else that you get in your life. Make sure you don't just get, you give too.
Open the taps. And you'll open the floodgates to happiness. Make that a habit. To share. To give.
And experience life. Experience the magic!
Source: Rohan Singal
Fable of the porcupine
It was the coldest winter ever. Many animals died because of the cold. The porcupines, realizing the situation, decided to group together to keep warm. This way they covered and protected themselves; but the quills of each one wounded their closest companions. After awhile, they decided to distance themselves one from the other and they began to die, alone and frozen. So they had to make a choice: either accept the quills of their companions or disappear from the Earth. Wisely, they decided to go back to being together. They learned to live with the little wounds caused by the close relationship with their companions in order to receive the warmth that came from the others. This way they were able to survive. Moral of the story: The best relationship is not the one that brings together perfect people, but when each individual learns to live with the imperfections of others and can admire the other person's good qualities.
Source: E-mail Fwd
Source: E-mail Fwd
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