How to become wealthy without doing much?

[krish44]

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I have sometime to kill today.

So let me share some of my crazy wisdom.

I have a lot of disdain for people who work very hard to only to save a little to put into savings account to get nothing to small returns .

I have always felt we could do better than this.

When people save, I think instead of investing.

I think of shares,real estate, commodities like gold and diamond..

These are assets that multiply.

Shares and real estate investment started as a spare time occupation when I did not have much to do in work life in steady govt job.

As I grow old in age , I find experts in various subjects -investment gurus, real estate brokers who are waiting to lend their brains to service us for a small fee.

My thinking went like this. If throwing some money to them , If I can collect big money what can be better.

So methodically I started collecting random people. Ordinary people -like those operating the terminals in share market offices, real estate service agents in

property companies all over the country in all metros and put them to work for a fee.

I found I could create a wonderful network of performers who worked hard to grow my assets.

The basic thinking is if one has trust in people and are not risk averse,one can do really well for oneself.

The best times for asset creation is when there are bad times [ india passed thru this phase during demonetisation month] ..Real estate crashed and yet to

recover.Bank interests plunged down.

All it requires is a sense of detachment and allow others who are specialists to make you rich.lol

 

[krish44]

We brahmins are monthly wage earners or pensioners and conventional. We cover our monthly expenses and have some money we put away as savings.Pensioners put

away retirement benifits into Fixed deposits .Not many think of investments for higher returns or compounding their money

We go shopping and keep buying so many things in mutiplex shopping complexes offering discounts which we store in our small homes and hardly use .

All these we think is good living.

Wiser invest and compound their money by repeated reinvesting multiplying several times over the years.

Then the issue arises what is an asset. In simple terms asset is anything which gives good returns.

If we invest in real estate which gives monthly rent besides appreciation then it is a good investment.

So is gold if it jumps to 30k from 24 k per 10 gms in a year or so.

Anyone who buy gold during akshaya tritiya every year is wise.

People who keep trading in stock market with stop loss do well if they are invested for an adequate amount of time for the share to appreciate.

We hear of the big bull Rakesh jhunjhunwala , vijai kedia who started with small amounts and made it big.

We need to think differently than conventionally .

 

[krish44]

Interesting development in share market.

Govt is thinking of setting up a different entity with private sector participation to tackle NPA of PSU banks. The cabinet proposal is awaiting presidents assent.

PSU bank shares are flaring up as they will be relieved of NPA issues.

So buy any PSU bank share.

You will be richer.

 

[krish44]

This NPA issue of banks.

About 10% are due to genuine issues such as sectorial problem in steel industry etc. Many of them are due to corporates who have borrowed and simply refused to

return the money. Many could be resolved if fresh equity is brought by promoters.

What is clear is Banks mostly PSU ones have to take a haircut for settlement of their dues.

With CBI and enforcement agencies breathing down their necks, no bank official will stick his neck out.

The govt's approach is suck RBI into it for overseeing and and adding over reaching committee of big bankers to take decision on amounts to be written off to recover

what is possible.This is tax payers money which are being written off.

What they would not do for farmers these fellows will do for their corporate brethren?

It is best to privatise banks by reducing govt exposure below the majority and let these banks hang.

No sense in injecting more money into these entities.

 

[krish44]

Whenever govt tries to take some action on govt banks or sectors or stressed sectors like steel , I watch out for oppurtunities.

Stock market gave a thumbs down to govt initiative on banks NPA.

Most booked profits after initial euphoria and they think this is doomed to failure.

Corporates are smarter than banks or their political masters.

Most retired bank veterans think that RBI should not get into micro management of PSU banks.

That is not their role.

Govt is just sucking good institutions into muck of their own making.

 

[krish44]

With RERA kicking in , we are in for interesting times in housing market.

These regulations though attempting to discipline builders and bring transparency are adding to costs as builders will increase costs to cover their risks.

Small players with no staying power and dependent on cash from purchaser are in danger of getting squeezed out of the market.

Home buyers are only sitting pretty and doing nothing much.

Cash for investing in real estate has dried up .

Those getting bank loans are waiting for reduction in loan interest and further fall is real estate prices.

Even rentals are facing issues.

Black money hunts do not give positive signals to a growing economy.

We are slowly grinding to a halt with regulations and controls piling up and drowning productive sectors of economy.

 

[krish44]

Gold appears to be alluring.When world economy appears to be headed for disaster with brexit , swing towards far right in europe -france and german elections due

shortly. Any one can trigger a crash in world market. Refugee from middle east flooding europe, american fishing in troubled waters of korean coast line all are waiting to

upset our peaceful living. Any run in world markets is sure to make all chase gold. Anyone who joins the gold hunt is going to reap rich rewards.India can try reviving

kolar gold fields.

We are trying to show our technological prowess in space by launching cheap satellites and pushing for thorium based nuclear reactors. All these must be sending

shivers in the neighbourhood.This kind of militarisation and high defence spending will led to similar actions by our neighbours. it is going to be a dangerous world for

all

 

[krish44]

Many of middle class , when they have nothing to do, go for shopping.

They clutter their homes with what they have collected .

Not many give away things ultimately with little place to live at homes.

I have made a pledge.

Something should be given away before any purchase.

When any relative calls on me, I make him take something of value to him from my home -things like furniture cots ,tables, chairs .I try to give away so many clothes

Dhoties or shirts presented by someone or other which I have not even opened the cover. If clothes are already worn and old , rickshaw pullers , street vendors ,

construction workers receive them.

My basic belief is you have give first to receive .

As a philosophy, first movers in giving end up very rich.

The reciprocity that one experiences makes up for what is given.

Most give back several times of what is valuable to me.

 

[mkrishna100]

“Money is neither my god nor my devil. It is a form of energy that tends to make us more of who we already are whether it’s greedy or loving.”
― Dan Millman. The Way of The Peaceful Warrior

 

[krish44]

Are we heading for a stock market crash?

Shares are showing upward movement and hitting new highs.

The economy is sluggish with agriculture down due to weather and industries not doing well due to lack of demand .

Malls are mostly empty with no buyers.

People are reluctant to spend their money and sitting on it.

Dilemma -Should one book profit and sit on cash instead?

Frankly do not know.lol