Money Secrets the Rich Don't Want You to Know......

What's the secret to wealth? 

Ask most personal finance experts and they'll tell you the secret to becoming rich is no secret at all: Work hard, live below your means and save every dime. The nation's One Percents, however, might disagree.

There's no shame in a modest lifestyle -- even Warren Buffett lives frugally. But if your goal is to get rich, it's helpful to know these secrets the ultra-wealthy aren't likely to share.

Salary isn't the whole story
Climbing the corporate ladder will only get you so far; at some point, you reach your earning potential and plateau. The rich know that in order to grow wealth, it's important to make your money work hard for you -- not the other way around. In fact, Robert Kiyosaki, author of the No. 1 best-selling personal finance book "Rich Dad, Poor Dad," built his entire money philosophy around this concept.

Generating income from passive, rather than active, income sources is the best way to do this. Investments that yield passive income include dividend-paying securities, rental properties, profits from a business you do not directly manage on a daily basis -- even royalties on creative work or inventions.

2. Take advantage of time, not timing If the recent market crash proves anything, it's that no one can predict what the market will do tomorrow. The wealthy know this and make no attempt to moonlight as day traders.

"Time is more important to investment success than timing," 

 "Most of the population believes that timing the market's moves is the key to growing rich through the stock market. The wealthy, however, understand that time and compound returns are the most important factor in growing wealth."

Though it might seem counter-intuitive, getting rich requires investors to adopt an unsexy buy-and-hold strategy, ride out market fluctuations and ignore speculation.

3. Put it in writing The difference between having an idea and putting it on paper is often what separates the uber-successful from average folks. And if you equate success with wealth, it might be time to start writing down your goals, both large and small, in order to become rich.

Thomas Corley, author of "Rich Habits: The Daily Success Habits Of Wealthy Individuals," noted that 67 percent of the wealthy people he surveyed wrote down their goals, while 81 percent kept a to-do list. If your goal is to become a multimillionaire, write it down along with an action plan for making it happen.

4. Understand value over cost
"The wealthy person has three best friends: her attorney, her accountant and her advisor. The wealthy tend to use the law and tax code to their advantage when figuring out how to maximize their wealth, especially over multiple generations, and they are not afraid to spend money up front for counsel to get these answers."

it's common for middle-income indians to cut corners in order to save money, yet ultimately find the results lacking. "The wealthy look at value over cost, but they are still prudent in their decisions," .

5. Eat out less
People who are concerned with saving money often skip the daily latte. The rich enjoy small splurges such as Starbucks whenever they want and instead look at saving from a bigger picture.

Author Paul Sullivan and colleague Brad Klontz, a clinical psychologist with an academic appointment at Kansas State University, conducted research on the difference in spending habits of the 1 percent and the 5 percent. The 1 percent spent 30 percent less on eating out and saved it for retirement instead. "And that, more than the cost of a Starbuck's latte, is what, over time, separates the wealthy from everyone else on the wrong side of the thin green line," Sullivan wrote in Fortune.

6. Be your own boss
Employees work to make their bosses rich. If you're aiming for true wealth, consider starting your own business. According to Forbes, nearly all of the 1,426 people on its list of billionaires made their fortunes through a business they or a family member had a hand in creating.

"Many middle class workers think that starting a business is too risky," 

 "The wealthy understand that what's risky is allowing your time and earnings to be dictated by a boss who couldn't care less about whether you get what you want for your life."

7. Use other people's money
To the average person, "it takes money to make money" might sound like a tired cliche used to justify irrational spending. For the rich, it's a golden rule of wealth.

The key is leveraging other people's money to increase your own wealth.

"Trading time for rupees is a losers' game, especially as technology destroys many jobs that don't require a highly skilled human being." 

 "Using money from banks/investors and hiring people to work for you is a time-tested formula for building wealth, not to mention the tax laws, which heavily favor businesses."

Whether you're fundraising to start a business or flipping real estate for a profit, relying on other people's money to do the heavy lifting greatly increases the return. Of course, it's also riskier than relying on your own funds. But if you follow the sage words of the great Warren Buffett, consider that "risk comes from not knowing what you're doing."

The most common reasons are a lack of financial education and the Conspiracy of the Rich. The rich benefit from the poor and middle classes’ lack of financial education. Think about it – if the rich didn’t have the poor and middle classes, who else would they get to do the jobs that make them wealthier? And why do you think schools don’t offer a financial education?

Join the Ritesh Sheth Coaches and learn ideas that separate Ritesh Sheth from what other financial advisors are teaching.

Please email me on ritesh@tejasconsultancy.in for attending program

Ritesh.Sheth CWM^®

CHARTERED WEALTH MANAGER

              Helping you invest better...  

Allaudin Bldg Shop No 1,Manchubhai Road,Malad East,Mumbai - 400097.
Shop No.9,Param Ratan Bldg,Jakaria Road,Malad West,Mumbai - 400064.
Tel:28891775/28816101/28828756/28823279. CELL:9930444099  www.tejasconsultancy.co.in | E-mail Us: ritesh@tejasconsultancy.co.in

Disclaimer:
This emailer is addressed to and intended for the investors of Ritesh Sheth & Tejas Consultancy only and is not spam. You are advised to contact Ritesh Sheth & Tejas Consultancy to clarify any issue that you may have with regards to any information contained in this emailer.The views are personal. Ritesh Sheth & Family or Tejas Consultancy does not guarantee the accuracy, adequacy or completeness of any information in this emailer and is not responsible for any errors or omissions or for results obtained from the use of such information. Ritesh Sheth & Family or Tejas Consultancy does not have any liability to any person on account of the use of information provided herein and the said information is provided on a best effort basis. In case of investments in any of our schemes, please read the offer documents carefully before investing.
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Top10 Reasons You’re Not Rich Yet

Top10 Reasons You’re Not Rich Yet

As wealth advisor, I have spent many years helping other people overcome financial stumbling blocks so they can become rich. Ironically, the one person I have had the most trouble helping is myself.

Being “rich” can mean different things to different people, but I believe it means having the financial freedom to achieve your goals and live the life you want. I am great at giving advice; I am not always so great at taking my own advice (know anyone like that?). So, when it came to helping my clients understand why they weren’t rich yet, the easy part was explaining the culprits, because I was all too familiar with most of them.

Regardless of our upbringing, education, profession or lifestyle, most of us are not where we want to be financially and our reasons are probably more similar than different. The good news is that it is never too late to become rich if you, like me, are ready to own up to the reasons you’re not and do something about it.

Want to know why you aren’t rich yet? Keep reading.

#1: You spend money like you’re already rich.

Sure, it feels good to buy expensive things, whether it’s a luxury car, designer clothes, a big house in the burbs, or a tropical vacation. Even if you don’t necessarily buy pricey items, if you consistently buy stuff you really don’t need, it still adds up fast (Rs.30000 trip to Target for toothpaste?). But the shopping high only lasts until the guilt and regret set in or the credit card bill arrives. Most of us are guilty of living beyond our means and using credit cards more than we should. The problem is that as long as we continue to spend more than we have, we can’t start building wealth. Chronic overspending and high-interest, revolving credit card debt are your worst enemies when it comes to financial success. Spend like you’re poor and you are much more likely to become rich.

#2: You don’t have a plan.

Without clearly defined short, mid and long-term goals, becoming rich will just seem like an unattainable fantasy. And that turns into your go-to excuse for why you shouldn’t bother saving or stop overspending. As we say in the financial industry: those who fail to plan, plan to fail. Creating a financial plan may seem overwhelming or intimidating, but it doesn’t have to be. Whether you do-it-yourself or decide to work with a financial professional, the process simply starts with prioritizing your goals and writing them down. Put that list where you can see it on a regular basis. Visual reminders go a long way in helping us stay on track.

#3: You don’t have an emergency fund.

I know, you’ve heard it a hundred times: you need to have at least six months of income saved in an emergency fund. And yes, it’s much easier said than done. However, I’ve seen too many people (including myself) get hit with a major unplanned expense, whether it’s a car or home repair or a medical bill, or an unexpected job loss, accident or illness that’s led to a drastic reduction in income. When these things happen–and they do, more often than you might think–not having a financial safety cushion can make the situation much, much worse. If you’re forced to rely on credit cards, you’ll end up sinking deeper into debt instead of, yes, saving to become rich.

#4: You started late.

With every year or month that goes by without saving, your chances of becoming rich decrease. Time and compounding interest are your two best friends when it comes to growing money, so wasting them really hurts. Just like exercising, the hardest part of saving is starting. Even if you’re in debt, making little money or have a lot of expenses, you can still always save something — even if it is a small amount. The sooner you get yourself into the habit of saving — regardless of how much — the easier it will be for you to continue and eventually increase those savings. I like to think of saving as a muscle you have to work out and build with practice. Even if you start saving late, you can still become rich if you’re committed enough. But you need to start. Now.

#5: You’d rather complain than commit.

“Life is too expensive.” “I’ll never get out of debt.” “I don’t make enough money.” “Investing is too risky.” I’ve probably heard every excuse for why someone isn’t saving, investing or planning in general, and I’ll admit I’ve used a few of them myself from time to time. It’s easier to be lazy and let bad habits fester than to commit to –and follow through on — changing them. It’s no wonder obesity and debt are epidemics in our country, and that millions of Americans have had to push off retirement. As long as the complaining, excuses and finger-pointing persist, so too will not becoming rich. Instead, take responsibility for your bad habits and focus on what you can do to change them. Then do it.

#6: You live for today in spite of tomorrow.

I get it. It is really hard to think about retirement and other distant fantasies when we have needs and plenty of wants now. The bills have to get paid, the family must be fed, momma needs a vacation — and a new wardrobe to go along with it. The problem is that impulsive and overly-indulgent behavior commonly lead to credit card debt, spending money you might have otherwise saved and, yes, not becoming rich. Do yourself a favor: Ditch the “buy now, worry later” mindset and instead, adopt a “save now, get rich later” mindset.

#7: You’re a one-trick investor.

You might be lucky enough to become rich by betting all your money on one type of investment. Just like you might be lucky enough to win the lottery. But that’s not a strategy for getting rich (at least, not one I’d ever recommend).

One of the worst financial mistakes you can make is putting all your money eggs in one basket. Doing so puts you at too much risk, whether it is being too conservative or too aggressive. Sure, the stock market is on a run and real estate is on an upswing again, but are you prepared for when the tides turn? Because they will. And if you are invested in all fixed-income securities like CDs, bonds and annuities and think you’re safe, inflation should make you think again. Your investment portfolio needs to include a good mix of investments with varied levels of risk and return potential and liquidity (so you can get your money when you need it).

#8: You don’t automate.

Here’s the secret to saving: Automation SIP (Systematic Investment plans). Saving is seamless when it’s automatic. Unfortunately, we are not born to be savers. We are impulsive and greedy by nature. Being responsible requires much more discipline. However, automation forces us to be responsible without too much effort. And all it requires is setting up regular transfers from a salary or bank account to a savings or Mutual investment account. Without it, we are much more likely to spend money we could be saving. Even if it is a seemingly small amount that you automate, those steady investments can make a big difference over time. Automate whatever you can whenever you can; just be careful to avoid overdrafting your account and try to increase your savings amount periodically.

#9: You have no sense of urgency.

You might think you don’t need to worry about getting out of debt or saving because someone, or something else will save you. Maybe it’s a pay raise, a new job, an inheritance, a rich spouse, or the lottery you’re counting on. Whatever “it” is, you use it as an excuse to put off taking steps on your own to become rich. The problem is that very little in life is certain. Who knows what will actually happen, or not happen, so why not focus on what you can control now? Save now and save yourself — just in case something, or someone, else won’t.

#10: You’re easily influenced.

Maybe you live with a chronic overspender or a typical day out with your girlfriends involves shopping. Or maybe it’s your inner “Real Housewife” that you sometimes can’t control. We all have negative influences in our lives that threaten our chances of becoming rich. The superficial, materialistic, sensational culture in which we live is probably the biggest one. The suffocating swirl of media that goes along with it makes it ten times worse. The trick is not giving in to temptation. How? Some of it is making conscious choices to avoid putting yourself in vulnerable positions. But most of it is having the willpower to keep the goal of becoming rich in the front of your mind, especially when you are tempted to sabotage yourself.

Trying to make money in equity.....when is the time is right to buy

Today, I'll share with you when the time is right. 

I always love to own Diversified Equity Mutual Funds instead of investing directly in Stocks for My long term investment and i insist all my friends and Customers to own Diversified Equity Mutual Funds for Long term Wealth Creation.  

Let me brief you what is Diversified Equity Mutual Funds

An investment fund that contains a wide array of securities to reduce the amount of risk in the fund. Actively maintaining diversification prevents events that affect one sector from affecting an entire portfolio, make large losses less likely.

As all Diversified Equity Funds invest in stocks and it is related to each other i feel it make logic to see stocks or funds picking style.

Let’s See,

Trying to make money as the market goes down is difficult… but under the right circumstances, it is possible…

For most people, it's not worth even attempting. 

In short, making a bet that stocks will fall goes against the grain… Thanks to earnings and inflation, stocks have an inherent upward bias. 

The market does crash by 40%-plus from time to time. Stocks fell 57% from 2007 to 2009. And the stock market dropped 49% from 2000 to 2002. But these kinds of spectacular falls are the exception, not the rule. They're hard to time just right. 

Today, I'll share with you when the time is right. 

Let me explain… 

If you've read my work for any amount of time, you know my investment prism – I want an investment that is 1) cheap, 2) hated, and 3) in the start of an uptrend. I always want to make investments that are good values… that most investors aren't interested in… and that are trending up in price. 

That's the ideal setup for an investment to go up. 
If you see the opposite setup, then you have a recipe for lower stock prices. 

We need to look at both the trend AND value to find the best time to short stocks (to bet on lower prices). 

The simplest way to think of opportunity in the stock market is to think of it in four different states… based on trend and value. 

The easiest way to visualize this is the graphic below. Take a look… 

This is simple. The market has four distinct states based on trend and value. 

Through testing dozens of different systems to determine what REALLY works, we found that each state of the market leads to significantly different returns. Here are the basic states and how we want to be invested in each: 

1.	Cheap and in an uptrend – We REALLY want to own stocks.
2.	Expensive and in an uptrend – We keep owning stocks despite valuations.
3.	Cheap and in a downtrend – We're not long OR short.
4.	Expensive and in a downtrend – The only time we want to bet against the stock market.

There's only one state of the market in which you'd want to bet against stocks… And that's when they're expensive and falling in price.

Today, stocks are somewhat expensive. But they've rebounded from their lows and are NOT in a downtrend. That means we're not in the "red" mode right now… which means shorting stocks today is a bad idea.

Personally, I'm still bullish on stocks. And I believe we could see significant gains over the next 18 months in what I've been calling The Melt Up.

Stocks will certainly fall at some point. And when we finally fall into the red in the box above, we'll bet against some stocks for the first time in a very long time.

We're not there yet… But now you know the principle for success…

Don't bet against stocks until we're in "the red." 

Domestically, we are getting incrementally positive from a medium term perspective after many quarters of being cautious, as you know. What do we see that others don’t? 

A confluence of events like better IIP, lower inflation, lowering interest rates etc.,all a harbinger of better times than worse, if the past were to rhyme with the future. We once again are taking a contrarian position from a medium term perspective, just as we were alone and skeptical in Jan – Mar of this year. 

Yes! We are on tenterhooks like most others but for different set of reasons. We wish to see if the narrowing window of opportunity – that the ground up situation is getting better, coincides with investors good humor till date. If it does, it shall be a buying opportunity that investors, who have been cautious so far, will look back and enjoy buying into. 

Again, I always love to own Diversified Equity Mutual Funds instead of investing directly in Stocks.

So, Funds which can generate good Returns over Long term

1)     HDFC TOP 200 FUND & HDFC CAPITAL BUILDER FUND

2)     RELIANCE VISION FUND & RELIANCE RSF - EQUITY FUND

3)     ICICI PRU TOP 200 FUND & ICICI PRU FOCUSED BLUCHIP FUND

4)     KOTAK 50 EQUITY

5)     L&T EQUITY FUND & L&T INDIA VALUE FUND

6)     CANARA ROBECO EQUITY DIVERSIFIED

7)     MIREA ASSET INDIA OPPRTUNITIES FUND

8)     DSP BR EQUITY FUND & DSP BR FOCUS 25 FUND

9)     UTI MASTER SHARE & UTI LEADERSHIP FUND

10)IDBI EQUITY FUND & SBI EQUITY FUND

Few More to watch Franklin prima plus, Birla advantage fund

Please get in touch with Us to know Scheme information   

Happy staying invested for now! 

Thanks a lot for your time and allowing us to stay in touch with you. All of at Tejas Consultancy are grateful for the opportunity to serve you. 

-- 

Regards,

Ritesh.Sheth CWM^®

CHARTERED WEALTH MANAGER

              Helping you invest better...  

Allaudin Bldg Shop No 1,Manchubhai Road,Malad East,Mumbai - 400097.
Shop No.9,Param Ratan Bldg,Jakaria Road,Malad West,Mumbai - 400064.
Tel:28891775/28816101/28828756/28823279. CELL:9930444099  www.tejasconsultancy.co.in | E-mail Us: ritesh@tejasconsultancy.co.in

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Disclaimer:
This emailer is addressed to and intended for the investors of Ritesh Sheth & Tejas Consultancy only and is not spam. You are advised to contact Ritesh Sheth & Tejas Consultancy to clarify any issue that you may have with regards to any information contained in this emailer.The views are personal. Ritesh Sheth & Family or Tejas Consultancy does not guarantee the accuracy, adequacy or completeness of any information in this emailer and is not responsible for any errors or omissions or for results obtained from the use of such information. Ritesh Sheth & Family or Tejas Consultancy does not have any liability to any person on account of the use of information provided herein and the said information is provided on a best effort basis. In case of investments in any of our schemes, please read the offer documents carefully before investing.
To unsubscribe from future mailer Please e-mail: info@tejasconsultancy..co.in

Quit Saying These 11 Things You Really Don't Mean

What is said is often not what is meant--especially where these phrases are concerned:

1. "It's not about the money."

Yes, it is. If money weren't an issue, you wouldn't even think to bring it up.

(By the way: There's nothing wrong with money being a primary driver--at all.)

Of course, if you say it's not about the money, you could prove it's not about the money: You could forgo that raise, give back that bonus, take less equity or profit.

Thought so.

If it's not about the money, focus solely on what is most important--and leave out the pseudo-altruism.

2. "That sounds great--I'll let you know!"

It actually doesn't sound great, but you don't want to hurt the person's feelings.

3. "I'm a giver."

Truly giving people give generously, selflessly, and without expectation of return. They give because their happiness--and their success--comes from someone else's happiness and someone else's success.

Giving people give simply because it's who they are.

Do you walk around saying "I'm a man" or "I'm a brunette" or "I'm an American"? Of course you don't--those things are who you are.

Take it from Margaret Thatcher, who said, "Power is like being a lady; if you have to say you are, you aren't."

The same is true for being a giver: People already know if you are or if you aren't.

4. "I'm just thinking out loud."

Actually, you've had the idea for a while, and you think it's great. But it's a lot more fun to come across as if you're super creative and just dreamed up the idea on the spot.

And, oh yeah, you'll be hurt if people don't agree with what you're about to propose.

5. "No, it's fine."

In fact, it's far from fine, but you don't want to talk about it any more.

6. "We have no specific plans at this time to..."

"At this time" almost always means "We're thinking about it, and maybe we're even hoping for it, but we're not quite ready to announce it."

Say sales are down and you're forced to consider employee layoffs. If only to keep morale up, you may not want employees to know that yet. But still, once you actually do announce layoffs, everyone will forget "at this time" and simply feel lied to.

If you're considering something, and you're asked about it, whenever possible, be honest. Say, "Yes, sales are down, and if we don't find a solution fairly quickly, we might have to reduce staffing."

Don't worry that you'll cause concern or alarm. Rest assured your employees already know.

7. "We're not looking for additional sales channels."

Whom are you kidding? Every company wants more sales. You're just not interested in working with that person.

8. "Let me see what I can do."

Odds are you can't--or won't--do anything, but at least you can pretend you'll try.

9. "Let me be honest."

Easily the most annoying on the list because, "Let me be honest" implies you haven't been honest, or open, or forthcoming up to this point.

(And if not, why not?)

If you need to say something difficult, just say it. Don't pretend you're saying something you shouldn't say--because if you really shouldn't say it, don't say it.

10. "With all due respect..."

While Ricky Bobby takes it a little too far, prefacing any statement with "With all due respect" means you feel the other person is misguided. Or wrong. Or even stupid.

So leave out the theoretically impact-softening preface and just say, as politely and professionally as you can, what you really mean.

Honesty is always the best way to show "due respect."

11. "I may be wrong, but..."

No, you do think you're right--otherwise you wouldn't say what you're about to say. So, hey, just say it.