Posted tagged ‘cnbc’

Book on Retirement : Retire Rich Invest Rs. 40 a day

January 23, 2010

Book written by me….

RETIRE RICH INVEST, 9789380200071

book review that I found online…

About the Book : – To most people retirement is an age. It of course depends on your health, the company you work for etc. However in the first chapter I would like to introduce you to the concept that retirement is an amount of money! After all, if you have that magical amount why not retire early?

The second chapter takes you through the steps and importance of planning, and to the dangers of not planning.

Retirement is a goal and has to be approached in a financial planning mode. Retirement Goal Setting becomes important. How much money is adequate for a person to retire? Here is a generic answer telling you what are the factors to consider while trying to answer this question. This chapter has many pointers and a calculator which leads you towards the answer.

Can you really retire by investing an amount as little as Rs. 40 a day? The answer is yes it is the power of compounding. If you do have or time on your side, it is possible to create a retirement corpus on an amount as small as Rs. 40 a day. And the fantastic thing is that this small amount can be got by making simple changes in your life style.

If you have accumulated money for your retirement, you should also know how to withdraw. Here we deal with what is annuity, what are the methods of creating annuities, what options are available, and the works about annuity.

A few chapters are devoted to answering how much and what type of insurance should you look at during retirement, the attitude of the Indian family to retirement, the need to make a will, some retirement blunders, etc.

What is interesting are the tables at the end of the book telling you how much to save and invest – and case studies about portfolio make over for retirement.

Available at the following shops:

Twistntales (Pune) Shop1, Siddarth, Gaikwad nagar, Aundh, Ph:-020-25881465 / 25899745

Paperback (Thane) Dayanand – cell no. 9967255843  022-21714414

Bookzone, Fort, Mumbai. (022-25054616/17)    All Crossword Stores in Mumbai and New Delhi.

New Delhi: Jain Book Agency (011-4151380), Land-Mark (0124-4143020), Om Bookshop (011-46075621), Pages (011-46132001).

Chennai: Landmark – has the copies. Odyssey not sure..Crossword has it..

Also available online from cnbc..check out on google..

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Warren Buffet’s advice to youngsters

July 27, 2008

Warren Buffett has some advice for young people, like college students, who want to remain financially independent.  It’s not new and its not a surprise, but it is solid counsel on avoiding a very common money pitfall, and worth repeating:

“The biggest suggestion I have is to avoid credit cards. Interest rates are very high on credit cards. Sometimes they are 18 percent. Sometimes they are 20 percent. If I borrowed money at 18 or 20 percent, I’d be broke…. So if I had one piece of advice for young people generally it would be to just avoid credit cards.”

In the Indian context the percentage is more like 38 to 42% – so If Warren Buffett would have been broke at 18-20%, imagine what such rates can do to your finances!

Warren Buffet had to say this…and he is quoted on the CNBC site…

Best channel for investing?

July 17, 2008

Which is the best channel to watch if you are an investor?

Cnbc? Ndtv Profit? Zee Business? …

Well what about Animal Planet?

O.k. Okay…I am wrong, but please read ahead especially if you are asking me …

Will watching Animal Planet help me answer the following questions?

Will inflation touch 17% six months from now?

Where will oil be six months from now?

And where will the sensex be?

What about real estate?

Fact is, investors who try to time the market are fooling themselves. Jumping in and out of the market isn’t a reliable strategy for wealth creation, and it isn’t successful – period.

Fact is, you are trying to fool yourself by hoping to get answers to these questions by watching the business channels.

You cannot get an answer to these questions by watching Television, or by doing a PhD in Finance. So stop attempting to answer these questions. Period.

Generally in any sport or in real life activities you win by controlling your emotions – not by succumbing to them. So unless you are really made of steel you will succumb to the emotions of the TV analyst. Just remember the channel makes money if you watch. You make money if your portfolio does well. I have still not seen proof that watching television (or reading the pink papers) can create a good portfolio. I may be wrong, but I still have to say it!

Are we in a bear market? Only Mr. Market knows…

April 23, 2008

As is customary there is now a series of interviews to find out whether we are in a bull market or a bear market.

Udyan Mukherjee is speaking to a host of experts to ask for their views.

Rakesh Jhunjhunwala – (whose call on the IT stocks last June was bang on target) says we are IN a BULL market, but we are going through a correction. And it will last about 18 months.

Shankar Sharma – who is of the opinion that we are in a BEAR market which can last 2-3 years.

Frankly we are all searching for that “magic pill” which will tell us the correct answer.

Unfortunately, there is no asnwer.

I think to be able to take any action (i.e. to know when to buy and sell) one needs to know the following:

1. At 21,000 you should have known the direction (markets will go down)

2. How low can the market go (say 14,300)

3. How long will it remain there?

4. When will it turn back up?

AND THEN HAVE THE CONVICTION that he is right even if he gets signs that he might be wrong!

And as John Templeton says, :I do not know anybody who knows anybody who has been able to time the market EVERY TIME! Surely, it looks impossible!

So are we in a bear market, bull market, sideways market, linear bear run, etc. is actually known only to Mr. Benjamin Graham’s fictional character Mr. Market!