Financial Security - Going about it.

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Topic: Financial Security - Going about it.

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aloksahi1971
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Posted: 11/Sep/2008 at 12:30pm

Financial security is all in the mind.In a nation like ours where people 40% people live below $2 a day 1 crore will mean a lot.

But yes for people who are educated and do reach the 1 crore level they must think what they want in life,what are the priorities.Most peolple live life without giving a thought to what they actualy want.They fall prey to peer pressure and are more interested in office politics rather than what actualy matters the next target is more important than the self.So once a level has been achieved people must call it quits at areletively young age so that they can take up a hobby.Living simply as Basantji has pointed out will go a long way.

As yours truly does go out play Golf!!! It is the best game in the world.You play against only 1 person yourself.Go hiking with the children teach them skills that you may not have had the time to learn (if they have the apptitude and the liking for it.

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tyler_durden
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Posted: 11/Sep/2008 at 2:35pm

All sort of examples can be given...like buffet sad"do what you want to do" .. Basant ji's reply is apt when he says buffet can afford to say that bcos he has huge amount of money .... But i think buffet started doing wat he loved to do from an early age ..11?? he was in equities RIGHT FROM EARLY TEENAGE...Arnold was into bodybuilding by 15 .... stallone started lifting weights by 12...tendulkar lifted the bat when other children lift pencils...

So it still boils down to ... How to find our true calling?? I have started to belive that there are prodigies who start very early and are successful by the time rest of the people of their age even understand the true meaning of success....They are not afraid of sacrificing few things on their way....

Is it really important to link our true calling with money??? or we can do it differently.. Like rock on!!! do your job honestly..and in spare time pursue ur interests....

What is the belief that guides the successful people??? I have tried quite a few diff things...and failed at them

...not bcos of lack of talent...but bcos of lack of faith ...i never thought that i can be a huge success..!!! As dhirubhai thought...or Vedanta's anil agarwal thought...or as arnold thought or muhammad ali thought...

And its not our fault..right from childhood..parents and teachers are influencing us to study and get a job ..get married and lead a secure life..we are guided by security rather than thrill...fear of failure rather than joy of success...How many of us think like" once am successful in finding a 100 bagger what a feeling that wud be" ... or how many of us think like" i have made a 3 bagger lets get out or else i will lose whatever i have got"

"A SHIP IN THE HARBOR IS SAFE BUT THAT IS NOT WHAT SHIPS ARE MEANT FOR" ....

how can we change our mindset??? What it is that will help us in knowing ourselves better???

Asking right and specific and positive questions is the only way to find the right answer....lets ask ourselves..lets ask each other....

For e.g: "what is 12*12?" ... its very specific question ith a clear answer...

or"what is the product of some even number times that same even number, the even number is double digit and a factor of smallest even and smallest odd number? ""

Am not able to phrase the right question for my soul??? and am sure the day i ask it in right way...my heart will reply....

If you aren't fired with enthusiasm, you will be fired with enthusiasm.

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basant
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Posted: 11/Sep/2008 at 3:26pm

Tyler I am not trying to be a pessimist but even in RockOn the guys broke up and came back because of several resons. How do you pay the bills while following what you like? Suppose I buy a potential 100 bagger and equity is my internel love then I still need to pay up for the electricity, milkman, newspaper and groceries.

Take Rakesh Jhunjhunwala's case also he had parents supporting him for the basic needs while he was dreaming to make it big in stocks; Out of abillion people we have had nor more then a dozen Tendulkars, Bachchans etc.

The odds are tough though not entirely impossible.

I am be looked at negatively but I am speaking from my experience. Making money is important and making it the way we like is desirable but that takes some time meanwhile we need to do anything that can make us some money true calling just happens it is very difficult to plan for one Tendulkar there are several thousand first class cricketers who are trying to make both ends meet.

We do not talk about the first class cricketer in UP whoc ommited suiicide but am more drawn towards the heroes. That is how I also react but finally it is the odds of that outcome that we should focus on!

I am a big proponent of doing what you like so would urge everyone not to take me otherwise!

'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in

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tyler_durden
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Posted: 11/Sep/2008 at 4:04pm

I never thought for a second that u re a pessimist...u re an inspiration for thousands ..if not for millions as of now...

"Out of abillion people we have had nor more then a dozen Tendulkars, Bachchans etc."

Got ur point...and by saying this u are not perceived as negative basant ji.. ...

Due to this discussion a lot of things are opening up...Earlier i used to think like...i shud do something in which i have a gr8 interest..do it all the time..and it shud earn money for me....But things don't work that way....

we shud not link our interest to money.....

One might be interested in reading story books only...and this won't take care of his living....so its imp. to work somewhere and look for some apre time where in u can read ....and read with whole of his heart....

----------------------------------------------

2nd part...as om ji guided me earlier to take an aptitude test or go to some psychoanalyst....so thats a next step....now i will be searching for someone who can help me find answers....

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a lot of us run away from this question...i.e what is it that is my true calling....but one shud not....find it..and do it...bcos we all have got one life....and interests can be pursued with job also...

If you aren't fired with enthusiasm, you will be fired with enthusiasm.

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basant
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Posted: 11/Sep/2008 at 5:00pm

I am finding this thread to be very interesting but not much participation from the others.

Aptitude Test I am not sure if it helps that much everyone knows what he likes doing but making a living out of that will happen only if you do it the best way. For example if I can play the tabla I should be able to play it very well to make a living and then only I can be in love with my job otherwise it is a hobby for me.

Over the years I have met several people who talk of persuing things that they love doing but just because the monetary gains aren't that high they are laid back by the opportunity cost of money.

When i left teaching it was a financial pain for me since I was loosing money by not teaching but the emotional satisfaction of being 'free' far outweighed the financial loss of not teaching and hence I was able to match the two aspects.

Over a period of time we will all get opportunities to do what we like and the biggest hindrance believe me or not would be the monetary aspect!

Edited by basant - 11/Sep/2008 at 5:01pm

'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in

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tyler_durden
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Posted: 11/Sep/2008 at 5:08pm

There is a test called MAPP test...which is quite detailed one....and it answers a lot of questions and tells a person's natural inclination but is quite costly..it costs 130$ ...

If you aren't fired with enthusiasm, you will be fired with enthusiasm.

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tigershark
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Posted: 11/Sep/2008 at 5:13pm

with that type of money one can buy a titan watch!

understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things

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paragdesai
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Posted: 11/Sep/2008 at 5:17pm

Originally posted by tyler_durden

I feel most of the people come under this category. But once inner calling may not necessarily related to the financial goal. May be financial security as per individual requirement help to achieve our inner calling in much better way. 10-15 years back life was more predictable & simple than today. Now everything is measured by money. Even religions are also driven by money.

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