If you are a millenial you have been inundated by advice, so what?!! here is more….

  1. Your main capital is your professional income: Just too many people are plain lazy in ‘revenue maximisation’ . If you are young, have you got the best qualification that there is to get? If you are a rank holding CA, can you top it with an Ivy League MBA? of CFA from USA? See what you can do to be at the top of the education pyramid, you really need to be there. See if you are in the best geography – Saudi Arabia may pay well, but it is Dubai where the learning could be superior. Or is it USA that will give you the best combination of education, exposure and money? Look at the company. Do not be in a dead or dying company with no known success. It is difficult to fly like the eagle in a group of peahens.
  2. At the optimum income level save till it hurts.  Do walk distances less than 2 km. Learn to use a bicycle for distances less than 10km. Keeps you fit, saves fuel money and hurts the planet less. Save till it hurts.
  3. Spend smartly: You need to invest in very good clothing if you are a professional. Not great brands perhaps, but great looking clothes. Especially women in India need to concentrate on sensible dressing – wear formals, it helps for sure. However you need not burn the bank to a good wardrobe. http://www.subramoney.com/2010/05/smart-spending-tips/
  4. Your money cannot sleep in a bank, kick ass and make it work as hard as you do! Asset allocation, shifting from bank deposits to Income funds, SIP, …should all come easy to you. Learn…http://www.subramoney.com/2014/02/a-nice-read-for-young-readers/
  5. Marry a sensible woman/ man: there are horror stories here. If you and your spouse cannot agree on frugality, vacations, children school and medicine choice, believe me, your marriage cannot go on too long. You will soon be headed to the poor house, at an accelerated pace. Read this…http://www.subramoney.com/2009/04/toxic-assets-at-home-toxic-wife/
  6. Have adequate medical and Term insurance
  7. Protect yourself before you protect people around you – remember the airline announcement?
  8. Surround yourself with people better than you.
  9. Life is a marathon, not a series of 100m dashes. Prepare for a nice long success story…not a sprint..

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