“Rich Knows savings are only used to create more money, not to pay Bills”
Published in year 1997, Rich Dad Poor Dad is a book, which will inspire you to think differently about money, employment and entrepreneurship. Robert Kiyosaki, the author uses a beautiful narrative of his childhood experience and real life learning of financial education from his ‘Rich Dad’ (his Friend Mike’s dad) and smoothly navigate through the journey of his own Dad whom he refers in the book as ‘Poor Dad’.
The book is about 9 hours audio book in audible, or less than Rs. 300/- available in Amazon, is a bestseller book in its category. A handy book, uses easy language and story like narration takes the reader through the sensitive topic of financial literacy, financial education without using any jargon or any financial product. The intriguing narrative nudges the reader to think about how one perceives money and wealth. The book questions the mindset one have on earning, job, employment, retirement, financial planning. Rich Dad should read with a pencil and a paper. This book aims to set the reader free from the poor or middle class or negative mindset about money. It encourages us to think money to be more like an ally.
It aims at answering eternal questions like – why rich get richer and poor gets poorer?
Chapter 4 – The History of Taxes and the power of corporation
Chapter 5 – The Rich Invent Money
Chapter 6 – Work to Learn – Dont Work For Money
Chapter 7 – Overcoming Obstacles
Rich Dad Poor Dad book ideally should be read with a reading partner. This book is just not an one time read. To get a crash course on financial literacy, You should make a Rich Dad Poor Dad Book Summary, make a list of Do’s and Don’ts and practice the lessons in real life.
In conclusion, Rich Dad Poor Dad is a must read. This book has the ability to set one free from financial misery.
Best Lines I read –
“In the long run, It is not how much money you make, its how much you keep, and for how many generations you keep it.”
“If You want to be rich, You have to be financially literate”
“Pay yourself first”
Robert Kiyosaki has written many other books similar to this one. Each of his books are dedicated to financial literacy. Sunday Book review posts will include – Rich Dad Poor Dad – ‘Cash Flow Quadrant‘ and ‘Fake’
When to invest in a debt fund and how to invest in debt fund is a tricky one. Fixed income can be pretty volatile.
What are the ever green Debt funds? or how to ensure, you are always above the yield-curve? How to earn some extra interest income from debt funds?Are debt funds really safe now? Which debt fund will give best returns? How to choose a debt fund? What is ‘interest rate risk’? What is the safest debt fund? This post is very relevant to July 2020.
After Equity Mutual fund, debt MF has managed to catch the fancy of retail investors. Besides the popular Bharat Bond ETF and liquid mutual fund category, retail NCD issues have also made to our homes very actively in past few years. Especially with higher interest rates compared to Bank Fixed Deposits, it is indeed irresistible.
In this post, I intend to share some factors on debt market investing and how to navigate through it. To achieve the right context, I will use some real life examples to make this topic more relatable.
Bharat Bond ETF Series II IPO is very fresh in our memory with over-subscription, so let’s begin with that. Launched in 14th – 17th July,2020 – the 7 years ETF with 5 years maturity offering 5.46% and 11 years maturity ETF yield is at 6.54%. So, this very safe (almost Government backed) Bond Fund/ Bond ETF is offering a little bit higher interest than SBI Fixed deposit (approximately 5.3% between 5 years – 10 years) So, the interest rate offered by Bharat Bond ETF Does look attractive comparatively and it is.
But, let us assume a scenario, – This is a hypothesis, for explaining how debt instrument works – In 2021, RBI Monetary policy scheduled in the Month of April RBI decides to increase the interest rate by 50 basis point or 0.5% followed by in 2022 April, another 0.5%. Again in April 2023, 0.5%, as a Bank, SBI will have to pass on this rate to the depositors, and the fresh deposit rates are 6.75%. So, a savvy investor is likely to close the deposit now, and book a new deposit with higher interest.
Similarly, this will trickle down in bond market, the new bonds which comes in market, will offer a higher interest rate. So, the bonds issued during low interest regime (we are now in a low interest rate regime) will be sold for higher yielding bonds, and it will cause the bond rates fall, so in this scenario, if anyone sells the ETF unit, likely to earn less interest than the maturity yield or interest income.
In low interest regime, it is a good idea to invest in liquid funds, ultra-short term debt funds. These category funds have no to very low interest rate risk. If someone wish to opt for debt funds replacing savings or fixed deposits, these funds are low risk ones. Because these funds invest in money market instruments, treasury-bills, ultra-short term government securities, so these debt assets have a low maturity and dont get affected by interest rate up or down.
If you want to make a little extra money and ready to study a little more, it is a good idea to check the Banking and PSU funds, check out the secondary bonds in the market. They are the next best options.
If you wish to earn good interest on debt, you should wait for higher interest circle, and buy debt fund or AA+ and AAA rated bonds, if you choose to stay invested for longer term.
In current scenario, of low interest rate, buy debt for shorter terms, and stick to funds like Bharat Bond ETF, liquid funds or Ultra-short term debt fund and review portfolio every quarter.
Yes, unlike equity Mutual Fund, Debt investments like Mutual Funds or Bond should be reviewed every quarter. Debt as an asset category is risky for long term. Unless you are able to lock-in for a really attractive/ high interest rate, investment horizon should not be more than 1 year or should reviewed periodically.
I am not a SEBI registered advisor. This blog is based on my understanding on the subject. This should be interpreted or used for making an investment decision.
Should I invest in Bharat Bond ETF NFO? Is the Bharat Bond Fund is safe? Is it a good idea to invest in Bond Fund ETF? What is the ideal time period for investing?
How does Bharat Bond work?
Let us discuss few more questions here – Does your trading account have cash lying without any interest? Your Fixed Deposit not earning interest? You are looking for safe and better returns without tax implications?
Bharat Bond – It is an Bond Fund ETF (Exchange traded fund) people who donot have a trading account, can invest through F-O-F route, (Fund of Fund). Government in a bid to raise money as debt, issues various bonds for its PSU Companies. This ETF is a route created for investors so that they can buy a bouquet of bonds at one go, without having to choose each one separately. The fund has a target maturity date, so once the ETF investment matures, you will get the money back in your designated Bank account, while you are free to withdraw funds whenever you wish to and you may choose to partially withdraw funds if you wish to.
Bharat Bond ETF invests in PSU Bonds, all with highest credit rating, in layman language as good as a State Bank of India fixed deposit, only with no-lock in period. You can buy today, sell tomorrow, quite like a Savings Bank account earning the interest on money for the period. Even if it is one day. As the bonds are of high grade PSU Companies, it is a safe option. As the demand in these Bonds remain high, the return is quite stable. The fund is passively managed with minimal interference, it follows the Bharat Bond index and replicates the return.
This is the second tranche II of Bharat Bond ETF, the New Bharat Bond series details-
Details of the NFO (New Fund offer) – Two Bharat Bond ETF NFOs to open from 14 July.
NFO Period – Launch – 14th July – Closes on – 17th July
Options – It has two options
1. April 2031 maturity period (11 years) – yield to maturity – 6.54%~
2. April 2025 Maturity (5 years) – yield to maturity – 5.46% ~
Investment Manager – Edelweiss Mutual Fund
How to invest – If you are comfortable with online transaction, and like doing yourself. You can apply for both FOF and ETF
Visit here TO INVEST Online – https://www.bharatbond.in/ (Invest Now section)
Minimum Investment – Rs. 1000/- and multiple of Rs. 1 thereafter.
Modes of Payment – Net Banking and UPI
Lock in period – No lock-in period, as soon as it is listed, it can be tarded on exchanges. Incase of F-O-F, it will have 0.10% exit load till 30 days, post which no exit load will be there.
Bharat Bond Investment strategy
Risks – Debt mfs have four prominent risks – Price Risk, Credit Risk, Reinvestment Risk and Liquidity Risk. The risks are mitigated by a few initiatives claims the ETF Managers.
Price Risk: If you buy the NFO now and hold on to it till the maturity, you would get a return as mentioned above. But if you transact in secondary market, (Buy/ sell) price risk will remain. Credit Risk – The Bonds are triple rated securities by PSUs, the risk is almost Nil. Liquidity Risk – Anyone can sell/ buy the ETFs at stock exchange NSE, and as it is considered safest debt instrument, demand likely to be there always. Reinvestment Risk: The income generated as interest will be invested in assets similar to that of existing portfolio.
The details of the Bharat Bond ETF – Series I
Bharat Bond Series I – as on July 12, 2020
This Fund invests in short term, medium term and long term debt papers, maturing before the Fund maturity date. As the interest rates have plunged in 2020, since the last Bharat Bond-Series I launched in 2019 , the bond prices went high on the secondary market, pulling the yield curve low. If you wish to invest in this, it would be a good idea to invest in the second series and NFO in particular to lock-in the best return on your investment.
So to say, if you wish to buy the existing Bharat Bond ETF. This one also has target maturity date, if you invest now and keep it till maturity, you are likely to get approximately above mentioned return
Reasons why you Should Invest in Bharat Bond ETF series II
It is a good investment option for an investor/ trader, who want to park the idle cash lying in trading account to earn some interest, as it wont generate any income lying idle on the trading account. If you put the money in this investment option, you will earn some extra cash till you plan how to use the money.
You need to consider a few factors while deciding what to invest in. This fund can be used as liquid money for contigency/ regular use you may require. Investing this category is ideal for 1 – 2 years horizon, and can also sell whenever you wish. This could be part of you short term goals, for unplanned expenses in near term.
You are not yet sure of how ETF works or Equity/ MF trading works, this is your time, you can simply put some money and try out yourself without risking
This money is liquid, more than large Bank FDs, and offers at least 1% extra return compared to your FDs in SBI/ HDFC Banks.
If you keep the money for more than 3 years, the tax implication is very low, with Long term capital gain benefit with indexation on Debt Funds.
As mentioned above, Bharat Bond-Series I is trading higher as Bond prices went high on the secondary market, pulling the yield curve low, so if you wish to invest in this, it would be a good idea to invest in the second series and NFO in particular to lock-in the best return on your investment. The New fund offers higher yield compared to series I
ETF cost is very very low, Fund of Fund has comparative high price but still it is negligible.
I am not a SEBI Registered investment advisor, I write based on my own understanding and for the passion in financial literacy. Take your own call basis your judgement/ your advisor. You may also consider the review on websites like Value research and other sites too.
What are the best online teaching jobs in India? Are they genuine options? DoI need to pay to register in the teaching platforms? Do I need to share my contact details? Can I teach painting and pottery online? Can I teach chess online ? Can I teach French online in India? How do I get student online? Is it tiresome job to upload my profile? Do people take paid online classes in India? Are these education sites genuine? How to search for students online?
The list can be longer 🙂
Udemy teach
As promised, this is part of online/ freelance job options series. Teaching and learning goes hand in hand, it is said, teachers learn more while tutoring the students more than reading their own. There are many online platform operating in India offering teaching jobs. Besides online teaching, these platforms provide offline options as well. Many of them have teaching apps as well.
To become a good teacher is evolving process and experience. Now, apart from being the subject matter, one need to upgrade online skill to continue teaching students. Covid19 Pandemic has brought all academicians on digital platform whether savvy or not, be it a formal school or private tutorial. While full-time job holders have least say in the matter, it is a matter of choice for the private tutors, if they want to improve their student base, teahing skills etc. If you want to be part of the changing world and continue your passion for teaching, you may need to consider the digital ways too. As you start your entrepreneurship journey, read up a few books which will help you along the way.
Here is some tips on learning how to prepare of teaching online as well as a few aggregatig sites which are active in India as online teaching platform
How students select online teachers
Private tutoring is a serious business. The satisfaction of your client, here students, will determine your success of your career here with the help of your qualification and relationship with your students. The online reviews play a very important part in getting more leads. Every student can be your brand ambassador.
You can begin with a Youtube channel or taking a few online class for your existing student base to begin with.
Make your own course set
This would be to help you set up your base, you may choose to teach on youtube, blog or a online teaching platform, if you set up a course for the topic, you will be one-step up for starting your online coaching class.
Do some dummy practice
It is a good idea to do a dummy practice on friends/ colleague and near ones to polish the rough edges on content and presentation. You may video record dummy classes and in the process you edge up your skills in digital communication, a must for online teaching jobs. You need to be willing to learn the ropes distance teaching.
Good internet interphase
A phone with good memory, microphone, tripod, laptop arrangement, some software (advantage but not necessary) and seamless internet connectivity will smoothen your process to help you quickly start the process
It will be a good idea to register in few sites at one go to test which ones suits you the best. You will get an idea about the membership fee, and leads they are providing.
www.superprof.co.in
Superprof launched in 2013, in France as a project, over 7 years, it has become a a community of 11.5 million teachers across globe. It offers classes on academics, arts and craft, Computer scene, Health and well being, music, sports a wide range offering. The best part of the website is, it gives you a teaching platform for hobbies you may have pursued for years without any hope of making a career out of it. This may be a learning curve to you and step for the next career move or step-up promotion from current scenario. You can register in this website in 10 simple test, choose your specialisation from the option. Choose from individual class or a group class.
Make a simple advertisement entry with the subject and age-group of students, make a small CV to upload, a sample video course if you like and a few additional details, in all its a 30 minutes step. Write down your fee, upload your picture and you are done. It is a free registration, but you can boost your profile visibility by a paid membership. An example – If you like drawing, say you have multi year experience, passionate about it, you may be thinking about teaching others and earning some money too. But, you dont know where to begin, here is your chance, you can easily signup to the website as a teacher and access the student across globe, who is looking for a teacher.
It is an academic platform, it offers high school courses and academic entrance exams, like – JEE, NEET, NDA etc. Vedantu is Co-founded by Vamsi Krishna, Pulkit Jain and Anand Prakash, it is their 2nd entrepreunal journey after Lakshya launched in 2006 and sold to MT Educare in 2012. They have great experience in teaching in India. If you aspire to be a teacher here, you have to fill one page form which will take about 15 minutes, remember to make a resume, it will be useful in applying in these options.
Registere here to be a teacher – https://www.vedantu.com/become-a-teacher
Urbanpro
Urbanpro Classes
This site boasts of 6 lakhs registered teachers and 25 lakhs+ students registered at their platform. It is widely featured in media.
This I had an hands on experience. This super professional website has a turn around time of less than 2 hours. I had applied for a course, within 3 hours, I was contacted by 3 qualified teachers from vicinity. This one has wide range of variety including online, home tuition and tuition at teacher’s place. It offers classes for high school students, BTech,, CA Coaching, Competitive exams like UPSC, IBPS, SSC etc. It offers language classes like – Italian, German, Spanish and list is long. Do check the website to find out more. You can register yourself as a teacher filling an easy form, which will take about 15 minutes. Register here – https://www.urbanpro.com/tutor-teacher-trainer-job-registration-india/134847
UDEMY
It is an international aggregator website, popular in India.This is an advanced academic aggregator platform and provides online courses and certification of variety subjects and ranges. It collaborates with teachers and institutions to build courses which students can learn without live teacher interface – mostly through recorded videos, written material followed by quizzes and online examination. You can upload your profile easily. Visit https://www.udemy.com/teaching/?ref=teach_header to register as a teacher.
Freelance jobs/ self-employement is liberating with a sense of independence. But to make it a success, one needs to be committed and continuously update oneself to stay relevant and grow. Entrepreneurship is a beautiful journey. Wish you all the best.
Do share your views and suggestions in the comment box.
Prepare for dream job during lockdown in step by step method
How to get a job during lockdown? What are the ways to prepare to improve your chances of getting a good opportunity? Can we get some work from home opportunity during lockdown phase which can help our career? How to search the job? How to work online? Are there really work from options available? Can we get a job sitting at home? Can college students get part-time jobs for experience? A lot of questions like this I hear from college students and young professionals. The answer is ‘YES’ You can get a job, online work from home. In this blog will share the tips and tricks to take steps to build a career utilizing the lockdown period.
It has been more than 100 days, India is under lockdown, metro cities showing no sign of relief, the cases are increasing rapidly. It is not unknown that it has disrupted the whole socio-economic order of the Country. There has been job losses across world and India is affected too. The situation is vulnerable with everything is locked down impacting millions of job directly or indirectly, yet luckily we are living in in the best times, with basic academics one can have access to immense job potential.
With high retrenchment in media sector, financial services, start-ups, layoff across sectors and verticals has caused much gloom. Also, there are stop-work order/ pause in vendor or gig assignments. The ongoing socio-economic situation is unprecedented and it will be difficult than ever for the new job aspirants. The corporates are taking a hiring pause or atleast slowed down the hiring spree. The hiring is only happening on prior commitment and need basis. The new job aspirants in the other hand often face dilemma to choose the right career options for them.
This lockdown is an opportunity to breathe, think, taking an account of situation and analyse the right career move. It is a difficult time to focus as well in absence of the deadline, exams and pressure, it is easy to get distracted.
With some amount of thought, research and discussion with various groups like colleagues, college students and other professionals, found that the usually human emotion of fear plays the biggest obstacle, everything thing else has a rational solution . Before trying enough, people are accepting failure or taking a pause in trying. This is the time to turn issues into opportunity. This is the time to choose an online course over a netflix sitcom, educational video over binging on entertainment content. This is the time hone the skills which is closest to you. This is the time to turn your hobbies and interest into a career option. Only lucky people get to earn by doing what they love to do. This is your chance. Sieze it.
‘Have the irresistible, killer attitude’ – Life is too small to be afraid, too long for regrets
Find jobs during lockdown – 6 skills will help you, not only now, in the long term too
Broaden knowledge base – Absorbing information which can be applied in practical life. Reading Books, newspapers, various research reports, Wikipedia pages will broaden your horizon, increase curiosity, and generate interest of application. For example, I learnt about world history by reading Sapience and Wealth of nation, more than my cumulative boring school study in history.
Think like an entrepreneur – Get interested in getting rich and influential. The mindset will define your career path. The more focus one have on finding business opportunity, more you will identify. Even when you are applying and interviewing for jobs, focus on value you will be able to generate and provide as an individual as professional. List down the qualities you have which will help in reducing time, efforts and investments. Focus on improving softkills like communication and negotiation with various stakeholders in your professional life.
Perseverance – Don’t take a NO – Try, and try and try until you are master of it. ‘Rome was not built in a day’, many small steps when taken in a particular direction one after another and with intent, focus and dedication, many miracles are possible. Giving up is easy, but a little efforts everyday to not give up will help achieve all dreams.
Ethics – Be ethical, disciplined and focused. Everyone wants to be associated with reliable, predictable and diligent person. Whatever the profession may be ‘Ethics’ makes every journey worth it. Not only it helps make decision making process easy, it also earns friends from every quarter and people return in kind. Person without ethics is easily identified and in long run no one wants to keep more than a transactional relation incase they can’t avoid the person all together.
Networking – Human is a social animal. We work in group, we like working with known people, we try to work with unknown people only they get reference and recommendation by someone known. In every field, every profession having a good network helps. You can begin with keeping in touch with like minded people, proactively helping others, providing genuine support to colleagues and associates takes a long way. Joining various groups in professions, hobbies and interest, participating in community work, participating group projects may help in better networking and better bonding with people. Many job and project opportunities are passed on in groups like these. You can also make groups based on common hobbies or interests.
Apply your knowledge – The subject you are specializing in your school/ college, try applying it in real life scenaios, case studies, blog, internships and through volunteer work. Working knowledge on any subjects add a lot of value to the existing theoretical knowledge. There are many freelance job opportunities available in technical, specialized as well as general subjects. Try them.
Does your insurance cover Covid19? How much risky it is to travel in public transport? How to ensure the high-risk people like children and elderly remain safe and healthy? There are numerous questions picking our brains every now and then.
It is more than 90 days that India is under lock-down, various sectors are gradually opening up for business. We are all more alert than ever, taking hygiene and precautions on priority. I visited the office other day, our coffee machine is closed. We didn’t use the microwave to heat our food, used the water dispenser shakily. Yes, it is taking lot of efforts to do normal activities without being afraid. However, we will move on.
Given all things, Covid-19 still doesn’t have any medicine and it remains highly infectious. Various work will force will take us out of comfort and safety of home, exposing us to Covid19. Least we can do is prepare. Apart from the usual hygiene and safety related guidelines, following are additional things we need to ensure
Most of the health insurance policy covers Covid19, still check with them
Keep equivalent of atleast 3 months expense safe in a deposit account/ liquid fund/ at home for a few months
Came across this policy and found it very useful in days like these. That is Reliance General Insurance’s Covid19 policy, specially designed for YES Bank Customer.
This is not a mediclaim or health insurance plan. This plan aims to cover the financial loss which may arise upon diagnosis or official quarantine by medical authorities.
It covers a possible financial loss, which may occur due to detection or quarantine . The policy covers babies from 3 months till 60 years adult. The premium for Sum insured of Rs. 1,50,000/- for a period of 1 year is Rs,2213 . The premium for sum insured of Rs. 2,00,000/- is Rs. 2950 Diagnosis Cover – Full sum assured
Quarantine Cover – Half of sum assured
Policy Period – 1 Year
Who should Take this policy?
This should be taken by earning member of the family especially if you have ongoing loans like – Car loan/Home loan/having high expenses. If you are staying in Mumbai, where healthcare cost is going out of hand, it would be good idea to protect against abnormal cost/ financial loss may happen on diagnosis/ precautionary quarantine. This is highly recommended for sole earner with many dependants, who don’t have adequate health insurance or have a job loss risk or have to visit other cities/ states/ countries soon. Highly recommended who have less contingency fund with dependent children or senior citizen parents.
What this Covid19 Insurance policy doesn’t offer?
This is mainly a cash benefit policy, doesn’t cover medical expenses, it just offers lump sum benefit. It doesn’t offer any tax benefit under section 80D. It doesn’t cover new born babies upto 90 days and anyone over 60 years. It doesn’t cover if you are any of your family member or close associate is currently suffering from Covid 19 or under quarantine. Won’t cover anyone who have met any Covid-19 affected person in last 15 days. Policy Won’t cover anyone who have traveled to international destination in 45 days immediately preceding this Insurance Cover Period Start Date. The applicant should not be currently living with and sharing the same address as that of person(s) who is/were Diagnosed with COVID-19 or Quarantined
There is one moreCovid-19 Cover for YES Bank DEPOSITORS
YES Bank has also launched a facility for Fixed deposit holders of YES Bank. On a Fixed-deposit of Rs. 1 Lakh and above for a tenure more than a year will get an cash benefit insurance. With no-extra premium, the cover is Rs. 25,000/-
Covid 19 is here to stay for a while and create chaos until we get a proper vaccine. So, stay safe, stay healthy and keep learning wealth management.
Want to be financially literate? Try these books. Have been very helpful to me.
The cost of the 5 books combined is below $20, but, this investment promises infinite returns. Read them before you take the next online course. You can listen to the audiobooks with free trial on Audible app for first month.
Why this post? This post is for budding, aspiring entrepreneurs who are searching for what books to read, the employees who want to start something on their own, for a small startup entrepreneur who is looking for books for some guidance, who are looking to build a lean startup leaving the cushy jobs.
They say, all leaders have few things in common, one of them are – Most business leaders are voracious readers. Well, from personal experience I can say, I have learnt half of world history, connected dots between economy, society, religion and human psychology through hours and hours of book reading and listening. And I found out, the “Best books” tagged in shelves and Amazon listings are there for a reason.
These books are for people from any walks of
life at any stage of career or personal lives, ideal for students, entrepreneurs, mid-level executives, top-level executives, it can add value to each reader. Request you not to source entrepreneurship book PDFs – get the original business books.
In past few months, we are living in a time of time of lockdown, mid-march 2020 onwards the world has literally shut for “Human activities”. The pandemic is unprecedented, with millions of people falling sick, hundreds and thousands of death, major sectors like aviation, hospitality, travel shut for months, and other sector crawling to survive, it does picture a gloomy present. However, we can also see the upsurge of social media activity, offices fitting into Zoom calls, school and colleges running with video classes, people taking a break from travel-busy schedule slipping into schedules of cooking, meditation, binge watching and online up-skilling. Oh yes, I have taken a few too. I liked the Coursera course on Finance for non-finance executives, many more which I felt was petty average. I also utilized my to browse through my collection of books and audible audio books. I must say, that Rs. 199/- monthly subscription is like multiple online courses squeezed into one.
I love discussing personal finances, for enhancing value of money. The experience I have gained by book reading and listening everyday for more than one hour each day is unbelievable. Each book I am listing down has many important lessons, each book is like a short business course, so much information, insights and words of wisdom squeezed into each one, that I have read each book at-least twice. I can go on and on praising the books, but without anymore words let me share a glimpse of my favourite books and few points I can’t just take off my head.
Important Lines – Intelligent people hire people more intelligent than themselves. The Rich Don’t work for Money. Rich Invent Money.
Review – This book is a handbook for aspiring business owner. It attempts to sow a seed of entrepreneurship in every reader’s mind. The 9 hours audio book is a commitment of the writer to take the readers off the life off the rat race and put on a fast pace of riches, a true book, one packed life changing session on financial literacy. The book starts with anecdotal reference as goes the title, what a rich dad teaches his kid which poor dad doesn’t. The Nine chapters in the book takes on through a very realistic narrative. The best part of the book is the short summary, and set of question for reflection and action. Rich Dad Poor Dad is worth more than a 10 hour webinar, it is an life time asset.
Other notable books by the author – The Cash Flow Quadrant, Fake
Think and Grow Rich (First Book dedicated to entrepreneurship spirit)
Review – Originally published in 1937, this book came in way early and have inspired big writers including Robert Kiyosaki and many other writers who have focused on power of thoughts. The author claimed to do a thorough research on the rich people of his time and came up with this brilliant book. This book emphasizes on power of thought, determination and planning in human. Through the chapters he has given reference to various individuals who changed their entire lives. The book written in simple English, in a series of guidance which can help on take required steps to achieve the goals of their lives. A must read, and should be repeatedly read and use the pointers to make into a personal diary to help improve upon own life. Think and Grow Rich needlessly one of the best-selling book of the century across continents.
The line I liked the most –“See what can be, not just What it is”
Review – “I’ve got a good news” The 9 hour and 30 minutes audio in simple English, this book is a fresh air in a mundane life. A book written for all, if you are 15 or 85, you will like equally. As the title goes, IT prompts us to thinking bigger, acting bigger and live bigger life. It does give clear demarcation of a successful, average and sulking people, all based on the attitude they carry. Each line inspires you take those small step which can make you more attractive, loveable, warm person be it any area of life, it can sprinkle magic each area. This book shouldn’t be read once, this should be read multiple times in regular intervals to lift you up to new space of success and pleasant life. You will easily be able to level up your life just by applying a few suggestion in your life. The Magic of Thinking Big is a must read if you are an entrepreneur, in media, marketing, public relations or any kind of regular people engagement roles. Even if your profession doesn’t require much interactions, it can definitely benefit in your personal life.
Author – David J Scwartz – (1927 – 1987) Notable American motivational writer. He was a professor of marketing, chairman of the department, and Chair of Consumer Finance at Georgia State University.
The line I liked the most – “When the goal for running is to participate in marathon, one quit running as soon as the marathon is over, but if the goal is to become a runner, the habit stays on whether or not you run the marathon”.
Review – This is one of the most powerful and practical book on habit building. James Clear gives examples of real life examples of habit stacking in alignment with personal strength having life changing impact. As the title goes, he emphasizes on the tiny habit change one can make and slip it into the daily routine, it can have a compounding habit in a long run. This books shuns the idea of goal setting for achievements as Winners and losers often have same goals, and many a times when it is not a disciplined approach to winning, they fall back to old behavior. This book is amazing to help you change your lifestyle, put your life in a track you wish to live.
Never Split the Difference
Author – Chris Voss
Free with Amazon Audible – https://amzn.to/2YKOAVm
One line I loved – “Ask Calibrated question – How I am supposed to do that”
Review of Never Split the difference – Author, one of the celebrated Negotiator for FBI, shares his most potent weapon on ‘Negotiation.’ ‘The art of negotiation’ is a sought after program across many global universities offered by Business schools internationally. People spends thousands of dollar in money, months of time and heaps of paper work and practice to get the art right. An important element not only in business, but part of all life, this is a precious skill set. This skill set becomes more and more crucial as one moves up the ladder in corporate structure or leadership position. It focuses on “first empathizing the situation of the other person, then get them to empathize with your situation”. It can be applied for best possible deal on sales, salary, contract or anything you may be dealing with. This book dives deep into human psychology and behavioral sciences. This book simplifies many complex human reactions and put it in the book for simple use. The content of the book if read carefully and applied logically and periodically it can have much bigger impact than a 3 days seminar costing thousands of dollar.
Few important points – Don’t criticize people, nobody likes it. Be genuinely interested in People. People like them who are interested in them.
Review – One of the highest selling books worldwide, over 30 million copies sold in last 80 years, making it one of the best-selling books of all time, written on the year, first published in year 1936. A must read for communication professionals, How to win friends and Influence people is bible for sales, marketing, leaders or CXO level executives, students, relationships and anybody who wishes to improve communication skills and apply it to improve their professional and personal lives.
You’ll know how great the books are once you read them. Reading book online have become quite common these days, thanks to platforms like StoryTel and Audible you can even listen to the, These are the handbooks for successful entrepreneurs. are All the books mentioned above are written by American authors, hence there is a significant influence of American culture of freedom and democracy is dominant. This is actually refreshing and empowering, but as they say, freedom is empowering but not free, it takes attitude, practice, focus and perseverance.
Tips to make best out of these books –
Read in regular frequency
Read each book in a session of 30 minutes
Keep a diary handy to make notes- these are not only business lessons, they are life lessons
‘Dream high, Think big and catch that shooting star’
Investing in N100 – A Mutual Fund, an ETF, Invests in Nasdaq Top 100 Company for Indian investors
N100 is a magical ETF of US Economy for Indian Investors with a low entry barrier and can be owned by any investor in India.
Mutual Fund invests in various asset classes in Equity, debt, Gold. Within that it is further fragmented basis market cap (largecap, midcap, Smallcap) or theme wise (pharma, banking, consumption etc). The beauty is this instrument can offer various colour and flavor to your portfolio and be beneficial for various goals across time frames.
Have a quick glance at N100 on Youtube channel
MOST Shares Nasdaq 100 – One such interesting and less talked about category is funds which invests in foreign equity markets. There are a few, but we are discussing here about NASDAQ 100. One of the most tracked Indices globally, comprises of about 103 largest non-financial companies listed in NYSE. undoubtedly it is one of the most popular index of New York Stock Exchange. Motilal Oswal launched ETF Fund for retail investor in Mid march of 2011. This is a thematic fund indeed, theme is foreign equity, underlying companies are technology heavy. With an AUM about 700 crore, the fund is not a large one, if compared to Indian diversified market. This fund has given a unprecedented return since its inception year on year. An all season for Indian Investors, let us look how it move including the covid19 global lockdown.
But How to invest in MOST Shares N100? N100, trailing the NASDAQ 100 had a great run in US markets itself barring some odd quarters in the last 5 years when Indian IT sectors scrambled to pull up its face. There are a few reasons. The top 10 companies in the portfolio includes – Microsoft, Apple, Alphabet, Facebook, Intel, Cisco, Comcast, PepsiCo. Though on the surface, top 10 companies are mostly tech heavy, but the business are varied. Apple – Consumer product, Alphabet and Facebook’s majority revenue comes from marketing and consumer based apps, Pepsico again is a global leader. The players are not only big in US and India, most have them has made a prominent mark globally and has a moat, it gives them competitive advantage over other players, they are likely to stay above the crowd in various business cycles.
N100 asset allocation
Apart from their strong year on year growth, there is another factor which works in favor of Indian Investors, that is depreciating rupee against Dollar. Though in dollar terms, NASDAQ 100 has given a compounding growth of 15% over 8 years, N100 has grown by 21 % CAGR in rupee term in the same years.
Who should Invest? This is a rare yet easy opportunity for Indian retail investors to own World’s most valued companies in an economic way. The ETF is available even single unit in the BSE and NSE trading platforms. Hence the minimum investment is 1 unit (As on 4th June it costs Rs. 714/ unit). An investor who has an existing portfolio in Largecap schemes can look at this as an additional avenue for wealth creation. Like any equity fund, the investment horizon should be atleast 5 years to realize the growth potential.
How to sell N100? It is as simple as selling any stock or ETF. The volume likely to be lesser than Equity, yet, it is not difficult like NCD/ Bonds. Transaction is easy.
How is N100 Taxed? This fund won’t be taxed like equity Funds in India. This will be taxed like a bond, Debt mutual Fund or Gold ETF.
What is The cost? The Fund has managed the keep the expense ratio at 0.82%, aligned with the low ETF cost structre, which also contributes to better returns for the investors.
What are the risk involved in this?
The Fund carries the risks of Equity based mutual funds
Additionally, Rupee appreciating against dollar could have a negative impact on the fund
The negative performance of NASDAQ 100 will have a direct impact, it is comparable with Indian market data
The AUM of the Funds are low, high redemption may cause high NAV fluctuation as the liquidity in the fund is very low.
N100 is a cool ETF options which makes me say that –markets don’t fail to surprise me at any point. The various thoughts of how to generate profit in dull markets, hedge risk in unprecedented situation often comes in mind, more often the thought that if retail investors can really make money? Yes that’s possible. N100 is one such mutual fund/ ETF of Motilal Oswal Fund house, not that popular in personal finance conversations, this 700 crore AUM Fund is silently taking advantage of the rupee dollar movement, investing in companies which middle class Indians can never think otherwise in their lifetimes.
‘Mutual Fund Sahi hai’ wave has overtaken any other ad campaign in past 2 years and rightly so, as it promotes a product for retail investors. The cost structure, investment amount and liquidity is commendable. But which mutual Fund is Sahi for you, for your goal is an equally important topic to ponder. Happy Investing
What is N100 ? stocks it constitutes? What is the N100 return in dollar terms?
N100 is an ETF (Exchange traded fund) by Motilal Oswal in year 2011, N100 is shadow of the NASDAQ100 index, which consists of top 100 stocks of US NASDAQ stock exchange. The fund has given a CAGR return of 12 % in 1 year, 17% in 3 years, and 15% in 5 years annualised return in N100.
Fund has out performed Nifty by a wide margin over 3 year, 5 years and 7 years time period
The top 10 companies in the portfolio includes – Microsoft, Apple, Alphabet, Facebook, Intel, Cisco, Comcast, PepsiCo. The returns are volatile compared to Nifty based ETF, as the factors of the movement are very different like overseas stock market performance and dollar rupee movement. On the contrary, this gives us a good hedge against rfising inflation/ Gold prices.
NASDAQ Returns in dollar terms – In the period between April 2014 – April 2019, Nasdaq has given an absolute return of about 125%, a 17% CAGR. The return on rupee term was – 139% at a CAGR of 19.88.
If we look at the period between 2011 April 2011, to March 2019,
NASDAQ -100 has given a compounding growth of 15% over 8 years, while N100 has grown by 21 % CAGR.
Apart from taking the rupee dollar advantage, holding world’s most valued companies, this fund also has lowest cost structure owing to ETF standards.
Barring a few one off quarterly aberration, N100 has beaten Nifty with a wide margin in last 9 years, 5 years, 3 years, 2 years and 1 year frame.
Why it is interestingly different for Indian Investors?
In 2011 October dollar was trading at Rs. 50 – 53 , while in 2020 each dollar is worth Rs. 72-57. That means Dollar has become expensive over the years for Indian Investors. In last 5 years, Dollar has risen 3% against Indian rupee year on year.
Expense on the N100 Fund –
Like any other ETF, expense raio is very low. Very low Portfolio Turnover Ratio at 3.00%, as it mirrors Nasdaq100. Category average turnover ratio is 32.15%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)
How is N100 Taxed in India?
In India N100 is taxed like a debt fund. It has to pay taxes in accordance with STCG (below 3 years at the income tax slab) and LTCG (10% of profit ) requirement on profit as per laws.
When I wish to purchase an ETF/ Share, apart from doing my own reading and research I also buy 1 or 2 unit of the share, it helps me track the script more actively and take an informed decision.
I AM NOT A qualified investment advisor, spreading financial literacy is my passion. You should speak with your financial advisor or do your own research before making any purchase or sale.
I recommend the below mentioned book for investors at all level.
For beginners – Let’s talk Money – a basic on personal finance by Veteran Journalist Monika Halan – https://amzn.to/2MzK5XL
2. Get the investor mind set with. Rich Dad Poor Dad Cash Flow Quadrant (Rich Dad Poor Dad) – Robert Kiyosaki – https://amzn.to/2AIx4Ze
Bible for stock market investors – The Intelligent Investor by Benjamin Graham – https://amzn.to/2Mwr7kS
11 points Canara Bank and Syndicate Bank Savings Account holders, Business Banking customers and Syndicate Bank Credit Card holders should know
If you are a a Syndicate Bank or Canara Bank Customer worried about Canara Bank takeover, you need not worry. Both, Canara Bank and Syndicate Bank are large sector Banks and worked on this amalgamation preparation for many many months. After the amalgamation they became the fourth largest Bank after SBI, Punjab National Bank and Bank of Baroda
Syndicate Bank
April 1, 2020 onwards, the Amalgamated bank has become the 4th largest in India, with 10,396 branches and 13,408 ATMs. With the amalgamation of Syndicate Bank into Canara Bank, the entity will retain its name, Canara Bank.
The headquarters of the amalgamated entity is now Bangalore. The Manipal head office remains an important office. In this post, will share with you all important information for Syndicate Bank as well as Canara Bank customers.
Canara Bank
Branch Banking with Better accessibility
Better reach and accessibility
This amalgamation provides a broader geographic footprint and helps to derive the benefit of size, scale, strength. Now, the combined entity has a network of close to 10,396 branches and approximately 13,408 ATMs across India. (Canara Bank – 8,837 ATMs & 6,333 Branches, Syndicate Bank – 4,571 ATMs & 4,063 branches). The increased footprint will help the Bank serve the account holders better. Account holders can visit both Syndicate Bank branch and Canara Bank branched to avail branch banking services.
Account Management – The existing account number, IFSC code, MICR code and other identifiers of account and branch will continue, till a change is notified and announced. Passbook can be get updated from respective bank branches for the time being. However, account statement shall be available from any of the branch of the amalgamated bank. Customers can use cheques for withdrawal of cash or they can use Debit Cards in ATMs of any Bank. You can also continue making deposits at either of the bank branches.
The existing account with Syndicate Bank will continue and the existing account number will continue as-is. Any change will be made with adequate advance notice. The account details such as IFSC, MICR, etc.
2. Business as usual at branches with 12 interoperable services
You will continue to be served by your present bank’s branch. Further about 12 interoperable services will be made available to all customers across these two banks – Cash withdrawal, Cash deposit, fund transfer, loan repayment, opening of Savings Bank account, cheque book request, Stop payment of cheque, Hot-listing debit/credit cards, grievance registration, account statement generation, loan account statement and Balance enquiry.
The customers will continue to enjoy the same or better interpersonal relationship you have with your branch.
3. Deposit and withdrawal
Deposit can be made in any of the branches of the amalgamated Banks. While withdrawal from Syndicate Bank is possible without cheque, the Syndicate Bank customer must present cheque at Canara Bank branches and vice-versa.
Recently Canara Bank also launched Gold loan scheme for its customers at 7.85%
Having said that, while most of the servicing remains the same, a few changes may be applicable for Syndicate Bank customers. Here is a list of things that you need to know.
4. Basic KYC
Customers of Syndicate Bank who have already updated their KYC in branch’s record are not required to re-submit KYC documents once again. Alerts will continue to reach the customers of Syndicate Bank on their registered mobile number and email IDs as usual. The existing account number, IFSC code, MICR code and other identifiers of account and branch will continue, till a change, if any, is notified and announced.
5. Savings and current account
The savings and current accounts will remain completely safe and operational under the banner of the Canara Bank. The accounts number of savings account, current account, fixed deposits will continue to have same numbers. Till further notification, the cheque book, passbook will work as usual.
6. Loan account
There will be no changes in any terms and conditions of existing credit facilities and loan facilities will continue under existing terms and conditions. However, if there are any changes after 1st April 2020, customers will be informed well in advance.
7. Internet Banking access
All Syndicate Bank Internet Banking customers will be able to access their net Banking like before. The customer care toll free numbers and contact details remain the same.
8. Syndicate Bank Debit Card
Presently Syndicate Bank customers can continue with the old ATM debit cards. Effective 1st April 2020, all cards issued or reissued will be that of amalgamated bank and new cards will be made and shared on the registered address of the customers.
9. Syndicate Bank Credit Card
All Syndicate Bank Credit cards with no delinquency (arrears due for payment) will be re-carded & replaced with Canara Bank cards assigning the existing card limit, after giving proper advance intimation. Terms & conditions governing Canara Bank Credit cards will be applicable thereon. Credit cards having delinquency (arrears due for payment) will be replaced with Canara Bank cards as above once the arrears is cleared. Accrued reward points will be redeemed and credited to Credit card account duly intimating the card holder during re-carding process.
10. Syndicate Bank Prepaid Cards and International Travel Prepaid cards
Prepaid cards availed from Syndicate Bank will be re-carded with Canara Bank card after giving advance notice & taking consent from the customers.
11. Service charges
The amalgamation has resulted in unification the of service charges for the customers. Customer can view the revised service charges in the websites of respective banks.
More products and services
The amalgamation will bring wider suite of products and offerings with better pricing, greater accessibility due to wide network coverage, improved customer service due to more allocation of staff to front end customer facing roles and opportunity of more wealth management/ add on services
Account holders query
Syndicate Bank customers can reach out to their relationship manager, or call on customer care no. XXXXXXXXXXX or email xyz@bank.com for any query
The Bank does not plan to close any branch now. The customers will be notified well in advance, if they decide to merge branches located nearby. If customers have any other queries related to either of the banks’ products or services they can contact the customer care through toll free numbers or email or visit the nearest branch. A complete list of FAQs can also be viewed on the website here: https://www.canarabank.com/english/amalgamation/
If you have any further query on Canara Bank or Syndicate Bank, Please drop your query on the comment box, will try to respond at the earliest
Shout out to all caring, loving supportive Indians to do their bit to fight the pandemic which has challenged the socio-economic system of the whole world. We all need to stand together like never before.
Covid19 protection gear at Amazon – https://amzn.to/37OQZCD
Donate For Covid19, Fight Covid19 together with India, donate, volunteer and spread love.
Donate and Volunteer for Covid19
As the saying goes, ‘Tough times don’t last, tough men do’. This blog is written in the time, when the mankind on earth, rich and poor alike are dreaded from Pandemic ‘Covid19’, a highly contagious disease and unkind to human race especially with low immunity or health conditions. While we put up a brave face, stay indoors to fight the silent killer CoronaVirus, for months now we stay home bound. The time seem stopped for many of us, but there are less fortunate who are in greater crisis. The daily wager, helpers in the small shops, small businessmen who cannot make their ends meet let alone paying wages to their employees.
This post is to urge each and every Indian to stand up for those less fortunate and earnest request to your bit. Let’s give a morsel of food by donating some, helping some. I am grateful to you if you have already paid your maid, cook, driver, security guards, office peons and other staff member. For the sake of making things simpler, I have a curated a list of charities we can donate at this need of hour to help rebuild our trust in humanity, brotherhood, solidarity and spirit of oneness with all and one.
The charity list includes govt and non-government outfits which are going all out and putting their best efforts to put up a brave face.
Your small contribution can make lot of difference. You can also donate blood to hospitals, dry ration to neighborhoods, distribute masks to needy. There are many ways to become part of a society. Lets be our best selves. We saved it for a long time.
This post is dedicated for those who care for poor, underprivileged and sick. Below is the list of these Indian charities which are fighting coronavirus pandemic directly or indirectly by supporting medical facilities, helping poor, aiding people who are affected great deal.
BEAWARE OF FRADULENT CHARITY FUNDS. Do some check to find their history, news and references to be sure you are putting the funds in right hands.
You can chose Central government charity funds or State government funds should you feel unsure of other entities.
Maharashtra Covid19Relief – Mumbai, with a very high population density through its boundaries, especially in slum areas is facing the maximum issues. Authorities, doctors and volunteers are continuously stepping up their effort to control the spread and care for the patients. To help Maharashtra Government fight Covid19 in various areas, you can donate to the CMO Fund with the below link. Contributions towards CMRF are exempted from Income Tax under section 80(G)
Mumbai Smiles – The NGO is committed to fight against human trafficking, Care for street children, and livelihood program for many talented but underprivileged in poverty stricken areas. I volunteer with them and seeing their good work for about a year now. Donation will be used for dry ration supply, hygiene, nutrition supply and supporting the livelihood program for in the time of Covid 19, will benefits thousands of slum dwellers.
Last but not the least, West Bengal and Orissa also face severe crisis with Amphan cyclone. Please let us help, they are facing worse times.
West Bengal State Emergency Relief Fund – Official donation site of WB Government for Amphan relief fund of the state government. Relief work and disbursal will be done across the affected districts through officials and administration.
West Bengal State Disaster Management Authority – (A Society registered under the West Bengal Societies Registration Act, 1961) ICICI BANK – A/c no 628001041066, Address: 8/1, Hardatrai Chamaria Road. Howrah IFSC: ICIC0006280, MICR code: 700229010
India will need a lot of support of our brave heart essential service providers. Let our contribution be generous to make a difference. Apart from donating, let us buy what is necessary, not splurge. Let us save water, electricity and money. We don’t know what comes next. But these habits will prepare us a great deal if worse has to come, and satisfaction and gratefulness if it doesn’t.
Let’s open our heart and let the spirit of brotherhood bring us better world.
India fights Covid-19 with some heart and great ‘Will’
