financial freedom

There is nothing sexy in the process of achieving financial freedom

Financial Independence, Uncategorized

FB-YOUR-STORYOver the last few years I have been reading a lot of books/biographies/auto biographies to find out some kind of drama around suddenly amassing a fortune.

Somewhere I had this feeling that there must be a magic formula or providence would strike and I would definitely be as rich as the Oracle of Omaha –  Warren Buffet. I read the Snowball by far one of the most authentic accounts of his life and other books on him. Found nothing dramatic or sexy in it.  As a matter of fact you sometimes find them boring because their life seems to have the same twists and turns.

I read Tony Robbins and his “Unshakable” and “Money – Master the Game”. Then among others I also went out and read Ramit Sethi and Richard Koch. Again nothing romantic that could suddenly help me leave my job and do what I want to do.

Now most of these guys are seriously rich so they must be doing something right.  Some definitely had their take on finding different ways, like Richard Koch with his fundamental book on 80:20.

Well if you remove the stories and hype surrounding these guys…they just ensured they were following a system continuously for the long term.

They had the same short term distractions that you and I have.  Some of them may have some luck on their side sometimes.  However they just kept at the system they decided they would follow to achieve their freedom.

Unlike me and a lot of us.  We get distracted with things, which when they appear, seem to be big.  But when you look back at life they were small blips but they broke us away from our long term goal.

Irrespective of the path you want to follow, ensure that short term blips do not deviate you from your long term goal.  There will be zigs and zags but keep at it

Carpe Diem!

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Why you SHOULD buy a house

Financial Independence, Uncategorized

What a contradiction….

Last time I gave you all the reasons of why buying a house (in India especially) did not make sense.

I have a friend Sanjay, who almost 27 years back had given me a very nice philosophy, which I did not heed. But the older I have grown the more I have realised, his was a better thought process.

He used to say ‘ pehle dukaan phir makaan’.  For those of you who don’t understand Hindi, it means….if you have some money, first buy a shop (invest in a business), because once the business succeeds it will generate so much money that you can buy many more houses or larger houses.  The fundamental issue over here being that if you have money and can invest in a productive asset which can supplement your cashflow then building assets and creating wealth become even more easy.

A real life example of this was the landlord of our office in Gurgaon.  He had 7-8 properties which he had rented out to offices.  Each of those properties was getting him a passive income which he was utilising to buy even more properties and he did not need to work.

I would strongly recommend reading Robert Kiyosaki’s  book “Rich Dad Poor Dad”. It  talks of a similar philosophy where cash flow (passive income) is important if you want to create wealth.

So coming to the topic of this blog….you Should buy a house if you can give it on rent and get passive income. You Should buy a house in a locality where businesses and a young migrant population are growing.  From that income you could buy more houses.

Most young people in the technology and services industry today carry home huge bonuses if their company succeeds.  Utilise a portion of that money to put in an asset which can give you passive income.  Once the passive income starts you get the opportunity to start thinking in ways of growing your wealth.

Till next time then…think your way to financial freedom through Passive Income!!!