1. There are very few financial issues that cannot be prevented and solved  by the purchase of reasonably priced insurance policies and living a middle class lifestyle while earning at attending levels.
  2. Most of us can have anything we want but not everything they want.
  3. We over estimate our income, and calories burnt in the gym.
  4. We under estimate our expenses, and the no. calories we eat.
  5. When we exercise, we use it as an excuse to over eat.
  6. Most of the benefits of the gym are lost the minute we have a sugary recovery drink!
  7. You only have so much ability to tell yourself “No” when it comes to your budget. Use it judiciously.
  8. If you cannot stomach the amount of investment volatility that you need to in order to reach your investing goals, DOWNSIZING GOALS might be easier than to change your investment asset classes, but you must do one or the other.
  9. Just because you are a high sounding professional or your children deserve a nice house, a safe car, and “the best” when it comes to their education it may/ does not mean you can actually afford them.
  10. Very few people need life insurance for their life AFTER retirement, so it is foolish to pay for that unneeded insurance.
  11. By the time you know enough to recognize high quality investment management, there is a good chance you are now capable of managing your investments yourself.
  12. By the time you know enough to know how to select a good financial planner, there is a good chance you are now capable of doing your own financial planning.
  13. Like health care, financial advice is expensive stuff. The best may be expensive, but the inexpensive may be really cheap!!
  14. Spend more money on experiences than stuff to store in the cupboard.
  15. If as a share market investor  if you can get index returns, keep costs low, and avoid selling out at market bottoms, and refuse to buy in a frenzy, you will be successful.
  16. The above point is easier said than done!
  17. Retirement accounts give you a tax break but what you need is far far greater.
  18. Mistaking a commissioned salesman for a financial adviser is a common error.
  19. Combining a good income, a decent savings rate, and a reasonable investment plan before you are say 35 years of age is a sure path to wealth after 2-3 decades.
  20. The sooner you figure out how much “enough” is, the happier you will be.
  21. You can spend your life wondering how much is “enough”. Most people cannot.
  22. Contentment is the greatest wealth. Many people realize this only at the last stages of their lives!
  23. Simplicity is the ultimate sophistication – said Leonardo da Vinci – it applies to investment options too.
  24. Make a will to ensure your money and minor children go where you want, to avoid probate, and to avoid longish processes and procedures.
  25. Wealth managers and Relationship managers have sales targets – neither wealth nor relationships.
  26. Credit cards are not for credit, they’re for convenience. It is as addicting as sugar or heroin.
  27. The more I learn about investing successfully, the more I realize it is risk management.
  28. Finding a good financial adviser and investment adviser can dramatically ease your financial life.
  29. Finding a good and sensible doctor can ease your health.
  30. It is worth spending an inordinately long time searching for a good financial adviser and a good doctor.
  31. Once you have good advisers, learn to trust them. And listen to them.
  32. Trust your advisers, but Verify. Once the relationship is established, once in a while seek a second opinion.
  33. My investment adviser and I have been associated for 38 years. I listen to him in toto. OK, 90%, if not 99%.
  34. It is not just lifestyle creep you have to avoid, it is the lifestyle explosion that usually occurs when your income increases!
  35. Financial independence means having about 40 times the amount you spend each year.
  36. Walking, running, cycling and swimming are better hobbies than shopping and eating out.
  37. The first few good financial books you read may be worth millions. Go read “Retire Rich: Invest Rs.40 a day”!!
  1. Curious about #35 – In the US, based on historical data, the number is 25x (or 4% safe withdrawal rate). But the US is a low-inflation economy, so that is not applicable to India. Wondering how we come up with 40%

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>