Philosophy of 70% #Money #WhentoRetire #HowMuchMoneyisNeeded

The day we pass away, our money will still be in the bank.
When we are alive, we feel we don't have enough money to spend.

When we are gone, there is still a lot of money not spent”.
A Chinese tycoon passed away.
He left for his widow $1.9 billion in the bank.
The widow remarried her young Chauffeur.
The Chauffeur said,
"All the while I thought I was working for my boss.
Now only I realize that my boss was all the time working for me!"
The Moral?

It is more important to live longer than to have more wealth.
• Strive to have a strong and healthy body.
• In a ‘high end’ hand phone, 70% of the functions are useless.
• In an expensive car, 70% of the speed is not needed.
• In a luxurious villa, 70% of the space remains un-occupied or un-utilized.
• In a whole wardrobe of clothes, 70% of them are seldom worn.
• Out of whole life’s earnings, 70% stays behind for other people to use.
70% of talent is not utilized
So, How to make full use of our 30%.?
• Go for medical checkup even when you feel fit.
• Drink more water even if you’re not thirsty.
• ‘Let go’ your ego, whenever you can.
• ‘Give in’ even if you are ‘right’.
• Be humble even if you are very powerful.
• Be contented even if you are not rich.

Entrepreneurship ideas from Google India MD #Entrepreneurship #E-commerce #CloudComputing # Opportunities

Found this video when I was doing some search on you tube. The video is almost three years old but I think it is is still relevant to watch. You can hear Rajan Anand talk about the exponential way in which the web is growing and the B2C/ B2B opportunities it is throwing at potential entrepreneurs. 

If you are a person who is looking forward to start a business based on web/ cloud/ social networking, this is a must watch video!

Waiting for E-series financial closure pay out? #e-series #e-gold

Further to the news on financial closure of e-series, I have been waiting for payment from NSEL. It has'nt happened till today. When browsing for information found some relevant information from NSEL site.

Payout to Unit Holders: 
Payment instructions shall be made to the Bank for payout to Unit holders on the same day 
on which the payment is received as per schedule of receipt of funds from the winning 
Payment shall be made to the unit holders on the basis of their holding in the proportion of 
the amount of metal sold to the total quantity of metal available for Financial Closure. 
For instance for e-Gold say: 
a) If the total of all ‘free balances’ on the ‘Record Date’ is 400000 units. Hence the 
quantity of gold available for financial closure is 400 Kgs. 
b) On the first day of bidding 250 Kgs is allocated to winning bidders. 
c) The total fund received by the Exchange towards this allocation of 250 Kg is Rs. 72.5 
d) In the above scenario, towards every 1 unit of e-Gold held, unit holders shall be 
eligible to receive Rs. 1812.50 [(725000000/250000)*(250/400)] on T+2 day of the 
first day of bidding. 
Such payout instruction shall be made to the bank only if the total payout amount against a 
particular e-Series Commodity is more than Rs. 90 crores or if all metal towards one 
particular e-Series commodity has been completely allocated and payment received against 
the same. If the total payout amount is less than Rs. 90 crores, payout shall be made when 
total payout against a particular e-Series commodity exceeds Rs. 90 crores. 

Not sure if any  other genuine e-gold/silver/platinum retail investor  has got back some yet??. If yes, Please do drop a comment :-)

Update:- Got a credit from NSEL for a small amount on 22/5 which is a fraction of my investment. "Something is better than nothing" :-)

Justice delayed is justice denied #e-gold #e-silver #e-platinum. #nsel eseries  financial closure status (payout/payment status)

Few interesting blog posts- Simple investment plan & Over estimating future income!

When flipping through my regular reads, I came across these interesting blog posts which I thought should be shared.

1. The short, sweet investment plan for life. Looks simple, but I believe can be effective. The best things in life need not be complex always!.

2. What happens if you overestimate your future income?. EMI committed based on overestimated future income can ruin your life.

Happy reading.

Call from HXFC Life Insurance

Caller: Hello sir

Me: Hello

Caller: Calling  from HXFC life insurance we have a very good plan for you which yields 12% return , Premium need to be paid for 7 years and you will get maturity at end of 10 years.

Me: What will be the sum assured and what is the amount that I will get after 10 years? How is the IRR ( rate of return) 12% calculated, where do you invest this money to get 12%?

Caller: Sir,I will hand it over to my boss.!!!

Team Lead: Hello sir, this Name of the plan is # bla bla bla, 7 year , 10 year, 15 year option #bla bla bla .. (No correlation to the question asked by me).

Me: Hold On. Can you please answer my question
What will be the sum assured and what is the amount that I will get after 10 years? How is the IRR ( rate of return) 12% calculated, where do you invest this money to get 12%?

Team Lead: Sir, this is a very good plan. We invest in government projects like road, metro, etc and that's why we get 12%.

Me: Through what instrument do you invest??

Team Lead : Sir, we will give you in writing that you will give 12% return assured. We don't invest in equity and we will give you a BOND ( Don't know what a BOND means???)

Me: What is the amount that I will get after 10 years , if I invest XXXX for 7 years?

Team Lead: This plan is.....

Me: What is the amount that I will get after 10 years , if I invest XXXX for 7 years?

Team Lead: Roughly YYYY

Me: That amounts to only 5-6% return which I can get from my SB account. You said it was 12%??

Team Lead: Sir, you wont get return anywhere . FD has TDS and they wont pay you more than 7%

Me; What??? You said the policy offers 12% return and the maturity amount stated doesn't justify that? Are you getting my question.

Team Lead: Sir, no bank gives you this type of return!!!

I hang up.

My humble request to all Insurance companies: Please get any product rolling into market..But please have the people that sell your product trained on IRR and comprehending customers question.( But may be you are doing this with a purpose- if some one gets all the right facts - No one may opt for your products)

+91 9894509065 caller number 14 may 11.32am( ask the right questions before you invest)


Simple Indian Food - Feel @home ( Best veg food blog )

" A Ship is safe when it is in Harbour, but the ship was not built for that"


These are just opinions/ ideas exchanged. No one can claim us responsible for any investment failures /losses based on the ideas expressed here.

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