I was sleeping in my bed. My wife and my little (almost)2 year old daughter were awake and they were doing their morning course.
My daughter came slowly to me into my bed and said "appaa", "appaa", "appaa".
She touched with her cool hand on my back and said again appa, appa, appa..
She hugged me from my back and nicely cuddled to me.
What else do you need in life?!!! I am one happy man!!!
My little daughter loves me:) and with her sweet voice she calls appaa, apppaaa...:):)
Thank you God for everything!!
Sunday, August 17, 2008
Friday, August 1, 2008
Best Money Advice anybody can get - Trichy Money
The following article is picked up from CNN’s iReport. Author’s id is AnnieGB. I found this article very helpful and I think it is the best money advice anybody can get. I wanted to share this article in my blog for my audience to get benefited too.
See the flowers above...how do you grow a garden? Well, growing wealth isn't very different!
My husband and I simply listened to what our parents told us...yep; believe it or not the "Greatest Generation" had a few good ideas. We are in our fifties now and both millionaires, each in our own right...neither needs to work, but actually chooses to work at things we enjoy now! I was a millionaire by age 43. Answer: I got a good education (that I paid for), worked hard to get promoted, saved a lot, and lived "below" my means. Now, I don't have to, I just do.
SAVE: Each of our fathers told us to save 15% of our salary and put it in the bank first...to pay ourselves before we paid any bill. My father suggested to put 5% away for a rainy day (for unplanned, urgent repairs or expenses) and then, never, and I mean, never touch the other 10%. If you start this practice before age 25, even at a meager salary, the compounding effect will generate almost $600,000 by age 65. Yes, $5000 put away each year at 5% will equal $600,000 in 40 years.
You can't put that much away right now? Then put 1/2 that away and make it a goal to get there after each raise. So what, you'll be 5 years off...it'll still generate $525,000...and you're half-way there. Contribute everything you can that will be matched by your company to your 401K, if offered. Nowhere on this good green earth is there a risk-averse way to make 50% or even 100% on your money...that is what the match is!
When you get a raise, don't figure out how to spend it; figure out how to save it. I suggest saving 1/2.
BE CAREFUL WITH CREDIT! Next, only have two credit cards and absolutely pay them off each month and absolutely on time. There is no reason to pay 20% interest for a meal out at Burger King. Why two cards? Put one in a drawer at home, just in case the other is lost or stolen.
Pay a little bit more than your mortgage calls for each month...that is going directly to principle! You can drop as much as 5-7 years off your mortgage by this simple step.
PLAN: Develop a budget each month for this month and the next two out. Keep to it. You'll find out right away where your money is going and what it takes to shave your expenses. Again, make sure you have a line for "savings" and pay yourself first!
Put together a long-range financial plan (at least ten years and maybe longer) and look at it every 4-5 months or so. It'll keep you motivated. Celebrate when you achieve certain milestones: $100,000 or $250,000, etc.
STICK TO YOUR OWN LIVELIHOOD: Don't compare yourself to your neighbors or friends or even siblings...if they are spending like there is no tomorrow, chances are they are going to be working until their last dying breath and will never have anything in the bank for emergencies, much less retirement.
LEARN: Educate yourselves...learn about money, its time-value, and investing. If you choose to invest, make sure you are comfortable with the risk. Invest in things you know about and make sense to you...right now, if you believe that the energy crisis is here to stay, then think of "smart and credible" ties to businesses that will benefit from the crisis. Also, read up on what the billionaires are doing! What are Warren Buffet and T. Boone Pickens looking at? Is it conceivable that you could invest a little portion of your fortune? If you are afraid, research mutual funds with goals in energy creation.
REMEMBER: There are two things that wealthy people have in common:
1) A sense that they alone are responsible for their well-being and
2) Discipline.
There really is no easy way to get wealthy...its just like growing a garden...prepare, sow, water, tend, weed, and reap!
Original Source: http://www.ireport.com/docs/DOC-52904
Thursday, July 24, 2008
Financial Aims ad Milestones
Here are the fund aims, anybody needs to have
Loan Pay Off Debt Fund
Emergency Fund
Corporate Building Fund
Dream House Fund
Children College Education Fund
Children Marriage Fund
Couple(Husband and Wife) Retirement Fund
Loan Pay Off Debt Fund
Emergency Fund
Corporate Building Fund
Dream House Fund
Children College Education Fund
Children Marriage Fund
Couple(Husband and Wife) Retirement Fund
Case Study: Financial Portfolio
Sponsored by OruAcre.com
As you know, in the recent past, I posted about an ideal portfolio for a 25 to 38 age group person.
Ideal Portfolio:
50% Assets
30% Aggressive Investments
10% Consevative Savings
5% Commodities
5% Savings for Emergency
Insurance is not part of the ideal portfolio. However, insurance is mandatory for a person who has dependants.
Case Study:
I was evaluating my friend 's portfolio and here is what he has, as of today - Name: Suraj(changed for privacy).
Suraj's Asset Allocation:
55% real estate
36% insurance
8% liquid
6% Automobiles
2% commodities
Improvement points for Suraj's portfolio:
His problem is - He does not have emergency funds and he always falls back on credit cards, which is not healthy in terms of personal finance.
An ideal portfolio says a person with dependant should have 10 times his annual gross income. Suraj has way too much insurance coverage for his salary.
Equity in the portfolio is completely missing. One of the best ways to fight inflation in long-term is to have equity items added to the portfolio.
One more improvement Suraj has to do is to increase emergency fund. Emergency fund is supposed to be 3 to 6 months - monthly expenses for the family.
As you know, in the recent past, I posted about an ideal portfolio for a 25 to 38 age group person.
Ideal Portfolio:
50% Assets
30% Aggressive Investments
10% Consevative Savings
5% Commodities
5% Savings for Emergency
Insurance is not part of the ideal portfolio. However, insurance is mandatory for a person who has dependants.
Case Study:
I was evaluating my friend 's portfolio and here is what he has, as of today - Name: Suraj(changed for privacy).
Suraj's Asset Allocation:
55% real estate
36% insurance
8% liquid
6% Automobiles
2% commodities
Improvement points for Suraj's portfolio:
His problem is - He does not have emergency funds and he always falls back on credit cards, which is not healthy in terms of personal finance.
An ideal portfolio says a person with dependant should have 10 times his annual gross income. Suraj has way too much insurance coverage for his salary.
Equity in the portfolio is completely missing. One of the best ways to fight inflation in long-term is to have equity items added to the portfolio.
One more improvement Suraj has to do is to increase emergency fund. Emergency fund is supposed to be 3 to 6 months - monthly expenses for the family.
Quick Personal Finance Tip
A Quick Personal Finance Tip
It is better to be debt-free, rather to be with loans at your hand to pay off.
Never take a loan for a depreciating asset, except for your house or first car, when you can really afford.
It is better to be debt-free, rather to be with loans at your hand to pay off.
Never take a loan for a depreciating asset, except for your house or first car, when you can really afford.
Trichy Money: Money Buckets for Personal Finance Management
There are various money buckets we need to keep the money, when it comes to money management. Here are the buckets, I could think of.
Income Bucket - is where all the income comes in. This would be the starting place of the money in our account. From here, all the buckets would get the money.
Debt Bucket - is where debt payments would go. Like Home Loan, Auto Loan, Personal loan would come under.
Expenses Bucket - is where the day-to-day expenses and planned expenses would go in.
Asset Bucket - is where the assets would come under.
Short-Term Bucket - is where the emergency funds would come. For example, normal savings account or cash at home or checking account money, which is easily accessible would be under the short-term bucket. Immediately accessible!
Medium-Term Bucket - is where next level of emergency fund is available. For example - if you have a not-so-easily accessible high-yield savings account - this would be the right bucket.
Long-Term Bucket - is where the retirement accounts - for both employer sponsored and individual retirement accounts and any other long-term accounts would come under.
Worst Case Bucket - is where all the insurance accounts would come under. ULIP products, term insurance and endowment insurance plans etc.,
Goals:
Go towards the goal of making Debt Bucket empty;
Increase the Income bucket;
Expenses has to be reduced;
Asset bucket has to be increased gradually;
Long-term bucket has to be filled gradually;
Short-Term and Medium Buckets has to be filled aggressively;
Worst Case Insurance is always mandatory if are the breadwinner and you have dependants.
Income Bucket - is where all the income comes in. This would be the starting place of the money in our account. From here, all the buckets would get the money.
Debt Bucket - is where debt payments would go. Like Home Loan, Auto Loan, Personal loan would come under.
Expenses Bucket - is where the day-to-day expenses and planned expenses would go in.
Asset Bucket - is where the assets would come under.
Short-Term Bucket - is where the emergency funds would come. For example, normal savings account or cash at home or checking account money, which is easily accessible would be under the short-term bucket. Immediately accessible!
Medium-Term Bucket - is where next level of emergency fund is available. For example - if you have a not-so-easily accessible high-yield savings account - this would be the right bucket.
Long-Term Bucket - is where the retirement accounts - for both employer sponsored and individual retirement accounts and any other long-term accounts would come under.
Worst Case Bucket - is where all the insurance accounts would come under. ULIP products, term insurance and endowment insurance plans etc.,
Goals:
Go towards the goal of making Debt Bucket empty;
Increase the Income bucket;
Expenses has to be reduced;
Asset bucket has to be increased gradually;
Long-term bucket has to be filled gradually;
Short-Term and Medium Buckets has to be filled aggressively;
Worst Case Insurance is always mandatory if are the breadwinner and you have dependants.
Wednesday, July 16, 2008
Trichy Loan Fair
The Tamilnadu Industrial Investment Corporation Limited
Plot No.3, Vaigai Colony, Anna Nagar, Trichy - 625 020
Phone : 0452 - 2533018, 2533331, 2528572
Dear Sir / Madam,
The TIIC Limited, Trichy
Organises
LOAN FAIR
ON 18-07-2008 Friday
from 10 a.m. to 5 p.m.
at
MADITSSIA HALL
Dr. Ambedkar Salai, Trichy - 20
for the benefits of entrepreneurs of Southern Districts
Higher Officials of TIIC & Machinery Suppliers for
various Industries are participating for guidance on
------------------------------------------------------------ ------------
Loan Assistance
Selection of Machinery
Various Subsidies like Government of
------------------------------Tamilnadu Subsidy, CLCS, Food
Processing Subsidy etc.
------------------------------ -----------=
We cordially invite you to attend LOAN FAIR with your
tentative project proposals and avail of the services.
REGIONAL MANAGER
The TIIC Ltd., Trichy
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