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How To Become Rich in India ?

krish44

Well-known member
Indian political order which combines state capitalism with social sector spending in Affordable homes, Toilets, Drinking

water ,Health with rural connectivity through bridges ,roads makes a cocktail of capitalism in state policy with social sector

spending.

70% rural population with lands which cannot support all and urban few belonging to top 1% which only indulging in

spending mostly abroad pose a challenge for the political order.The rich are getting richer faster in absolute terms as

compared of bulk of the poor who are getting rich slowly increasing the rich poor divide.

If one is in middle class like most tamil brahmins what is the way out to get rich fast.

Money flows to people who take risks.Investing with reasonable risks like equities directly[not mutual funds] , reducing

saving levels { we save more than we should as we have been taught that savings lead to a good life] . When inflation

rampant savings can only depreciate .

Those who were vigilant on 18th may on date of exit polls result and 23 may day of poll results made a huge killing in the

share market which swung up on return of Modi govt.Now market has swung back to normal with positive bias.

Similarly living in rented homes instead of buying,taking ola,uber instead of owning cars with driver, Hiring servants for

household instead of using own hands and utilising our brahmin brains for generating big money thru enterprise is

wisdom.

In india collecting farm lands at throw away prices near metros [new smart cities] near highways can turn ones fortunes.

The rural label gives freedom from taxes .Adding a few cows helps conversion of brahmins into devout hindus . Collecting

a few farm hands to look after the farm besides building a farm house adds value in terms of tourist interest .

I am writing this from my experience of rural life [ I spend a few weeks at a farm house of a near relative every year.

Do you know that there is huge arbitrage in gold ornament buying abroad and returning to india with it?Even electronics

buying can add to wealth.

It is worth while to think of simple ways of wealth multiplication . Intelligent wealth creation is key to good living
 

prasad1

Well-known member
Indian political order which combines state capitalism with social sector spending in Affordable homes, Toilets, Drinking

water ,Health with rural connectivity through bridges ,roads makes a cocktail of capitalism in state policy with social sector

spending.

70% rural population with lands which cannot support all and urban few belonging to top 1% which only indulging in

spending mostly abroad pose a challenge for the political order.The rich are getting richer faster in absolute terms as

compared of bulk of the poor who are getting rich slowly increasing the rich poor divide.

If one is in middle class like most tamil brahmins what is the way out to get rich fast.

Money flows to people who take risks.Investing with reasonable risks like equities directly[not mutual funds] , reducing

saving levels { we save more than we should as we have been taught that savings lead to a good life] . When inflation

rampant savings can only depreciate .

Those who were vigilant on 18th may on date of exit polls result and 23 may day of poll results made a huge killing in the

share market which swung up on return of Modi govt.Now market has swung back to normal with positive bias.

Similarly living in rented homes instead of buying,taking ola,uber instead of owning cars with driver, Hiring servants for

household instead of using own hands and utilising our brahmin brains for generating big money thru enterprise is

wisdom.

In india collecting farm lands at throw away prices near metros [new smart cities] near highways can turn ones fortunes.

The rural label gives freedom from taxes .Adding a few cows helps conversion of brahmins into devout hindus . Collecting

a few farm hands to look after the farm besides building a farm house adds value in terms of tourist interest .

I am writing this from my experience of rural life [ I spend a few weeks at a farm house of a near relative every year.

Do you know that there is huge arbitrage in gold ornament buying abroad and returning to india with it?Even electronics

buying can add to wealth.

It is worth while to think of simple ways of wealth multiplication . Intelligent wealth creation is key to good living

I too would like to become financially comfortable, but not in jail. Some of the methods you suggest can lead to jail. Let us stick to legal and safe methods.
 

krish44

Well-known member
I too would like to become financially comfortable, but not in jail. Some of the methods you suggest can lead to jail. Let us stick to legal and safe methods.
I do not know what makes you think that some suggestion of mine can land people in jail.

As long one observes the rules laid down by indian govt there should no issues.

You might have apprehensions on buying gold jewellery /electronics abroad or carrying foreign currency from
or to india.

Are you aware that jewellers abroad do not charge sedaram ie wastage for making of gold ornaments.They

charge only making charges.It is duty free upto some value depending on period of stay abroad.One can

always declare it and

pay duty in india if not paid abroad. Still it would be cheap in india.

Best to have receipts for all purchases .

Indian import /export rules are liberal.

It was bad during sixties and seventies but not so any more.

Same applies to real estate transactions in india covered by RERA..

I know brahmins are God fearing and rule observing class.

Least being literate they can read the rules of import /export regulations before purchasing anything abroad

and getting it to india.
 

prasad1

Well-known member
Are you aware that jewellers abroad do not charge sedaram ie wastage for making of gold ornaments.
Try cashing it in India, you will lose.
Unless you bring Gold biscuits or Gold coins (those are illegal), you have to pay sedaram.
I do not know if it is legal to bring those, then when you declare it you have to pay all those fees that it is not worth it.
 
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prasad1

Well-known member
Today's gold price,
In Chennai, it is INR 3038 for 1 gram of 22K gold.

In singapore, it is 22k Gold per Gram = 2625.35 INR.

So the price of Gold is comparable.

The gold price at Zaveri Bazar is quoted at Rs 29,210 per 10 gm, inclusive of import duty and GST, whereas the cost in Dubai is Rs 25,524 per 10 gm. Jewellery will remain costlier in India even after the planned imposition of 5 per cent VAT in the UAE from January 2018.

Read more at:
//economictimes.indiatimes.com/articleshow/59677691.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

So if you are buying a small amount of gold ornament for personal use it is worth making the trip.

Even with that you get hassled at the customs, I have seen people coming from Dubai going through a lot problems. Of course in India, there are alternative ways of getting around that problem.

But I would not call it a legitimate business or investment.


Dubai is better than Singapore - Choosing between the two; it is not the gold rate that benefits you but the quality of work and purity of gold is better in Dubai. Dubai is known as a gold shopping festival.
Also, please understand that you may have to pay import duty once you land in India if your stay has been less than 1 year.

If you have stayed a year or more in Dubai or Singapore for that matter then you have an exemption of rupees 50,000 for male & 1,00,000 for females.





If it was that simple there would be no market for smuggling.
 
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prasad1

Well-known member
Invest your time

It is crucial for investors to make financially responsible decisions early in life. Exposure to savings, expenses, budgeting and investing at an early age can equip savers to take informed decisions for a financially secure future.

“Three-fourths of all adults in India do not understand basic financial concepts and this eventually leads to poor investment decision making. Understanding investment basics is critical, particularly for young people who are early in their career. While good decisions increase potential to grow capital, any wrong decisions or indecision can hamper long-term financial success. Spending two hours a week to read and build skills and knowledge for taking informed and effective money management decisions or indecision can hamper long-term financial success. Spending two hours a week to read and build skills and knowledge for taking informed and effective money management decisions will go a long way in helping build wealth,” says Bukka.

Financial literacy, ultimately, will lead to financial stability for investors.



The equity route

Investing in equity through mutual funds or even directly in shares is a good way to benefit from the power of compounding. “Equity investment may be volatile in the short term, but most suited for long-term goals. Equity as an asset class have given best inflation adjusted returns over a long period of time,” says Mathur.


Read more at:
//economictimes.indiatimes.com/articleshow/63855493.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
 

prasad1

Well-known member
Ultimately there are no easy, quick, legal ways to get rich anywhere in the world.

You can always win big in Lottery, but the chances of that happening are astronomical.
 

krish44

Well-known member
Try cashing it in India, you will lose.
Unless you bring Gold biscuits or Gold coins (those are illegal), you have to pay sedaram.
I do not know if it is legal to bring those, then when you declare it you have to pay all those fees that it is not worth it.
In singapore ,my understanding is they do not charge sedaram for gold ornaments.

Gold is given to jewellers at standard rate and they can charge only making charges.

This would definitely be cheaper and purer.

At best you might pay 10% duty in india.
 

krish44

Well-known member
Invest your time

It is crucial for investors to make financially responsible decisions early in life. Exposure to savings, expenses, budgeting and investing at an early age can equip savers to take informed decisions for a financially secure future.

“Three-fourths of all adults in India do not understand basic financial concepts and this eventually leads to poor investment decision making. Understanding investment basics is critical, particularly for young people who are early in their career. While good decisions increase potential to grow capital, any wrong decisions or indecision can hamper long-term financial success. Spending two hours a week to read and build skills and knowledge for taking informed and effective money management decisions or indecision can hamper long-term financial success. Spending two hours a week to read and build skills and knowledge for taking informed and effective money management decisions will go a long way in helping build wealth,” says Bukka.

Financial literacy, ultimately, will lead to financial stability for investors.



The equity route

Investing in equity through mutual funds or even directly in shares is a good way to benefit from the power of compounding. “Equity investment may be volatile in the short term, but most suited for long-term goals. Equity as an asset class have given best inflation adjusted returns over a long period of time,” says Mathur.


Read more at:
//economictimes.indiatimes.com/articleshow/63855493.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
There are two ways of learning About equity markets. One through extensive reading-and other thru

experimenting directly .If one reads extensively, those with weak hearts would not venture into equity

markets.

Mutuals funds are the worst way to invest as you are paying a fund manager to invest your money.

Most who have invested in mutual funds in india have only made losses..

Only gold ETF is good.

Better directly plunge using a demat account and buy up consumer durables shares and big group A private sector

bank shares.Avoid mid caps or small cap shares.You will definitely get 15 to 20% returns.

I am giving you down to earth market scenario.

shares
 

krish44

Well-known member
Similarly most would tell you that renting a flat is better than buying one.

They do not understand the pains of living in a rented flat in indian metros

Everyone would like to have own flat to live in. Govt is pushing affordable housing concept limiting the amount

to be invested.

It is wise to invest in two flats ,one to live in and another to live on.

This is a time tested rule for all.

One would like to leave something behind for next generation .These days most have two kids atmost.
 

prasad1

Well-known member
Try cashing it in India, you will lose.
Unless you bring Gold biscuits or Gold coins (those are illegal), you have to pay sedaram.
I do not know if it is legal to bring those, then when you declare it you have to pay all those fees that it is not worth it.
When buying gold no one charges sedaram to the customer. When the jeweller is buying gold from customer they charge sedaram .
Will the jeweller in Singapore buy back jewellery and not charge sedaram?

In the usa you loose 2% of gold value when they buy back gold.
 
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krish44

Well-known member
When buying gold no one charges sedaram to the customer. When the jeweller is buying gold from customer they charge sedaram .
Will the jeweller in Singapore buy back jewellery and not charge sedaram?

In the usa you loose 2% of gold value when they buy back gold.
In singapore , if the jewellery has been bought locally in the past, ,gold is paid at market rate.If there are

embedded stones or pearls, they are discounted and payment is for gold alone .

The return of old jewellery is in smaller shops.

Indian gold jewellery is suspect regarding carat value and they are viewed with disfavour..
 

krish44

Well-known member
Indian stock market depending on oil prices,foreign currency fluctuations is mostly volatile.

It mostly moves in a range during the course of the day and ends up slightly up or down at the end of the

trading day.

If one tracks the market ,one gets to know the range in which each share moves during the day.

Only short term traders ,investors make money.

The trick is to buy when the share is almost lowest during the day and promptly sell if it makes 10% or more in the

same day.It is wise to settle outstanding position the same day itself as far as possible.

Also keep a watch on govt moves as to which regulation they are scrapping and which shares are affected by

it. Promptly trade in them for profits or avoid loss.

Always stop loss by liquidating if a share drops more than 5%.

There is no wisdom in being a long term investor and locking your money.
 

Janaki Jambunathan

Well-known member
Indian stock market depending on oil prices,foreign currency fluctuations is mostly volatile.
It mostly moves in a range during the course of the day and ends up slightly up or down at the end of the
trading day.
If one tracks the market ,one gets to know the range in which each share moves during the day.
Only short term traders ,investors make money.
The trick is to buy when the share is almost lowest during the day and promptly sell if it makes 10% or more in the
same day.It is wise to settle outstanding position the same day itself as far as possible.
Also keep a watch on govt moves as to which regulation they are scrapping and which shares are affected by
it. Promptly trade in them for profits or avoid loss.
Always stop loss by liquidating if a share drops more than 5%.
There is no wisdom in being a long term investor and locking your money.
As we age, we find information overload tiring. This can have important consequences on financial decisions we make. We lean on the familiar, go with past experiences, and invest in choices we are familiar with. What is seen as unwillingness to change is actually a manifestation of the inability to deal with new and complex information.
The fixation about earning a regular income comes from the association of this investment feature with its performance. A regular dividend paying stock, an interest earning bond, a steady stream of rental income, are all associated with investment features that secure retirement income. The elderly find it comfortable to understand return in terms of income, rather than growth.
 

nalanda

Member
I live in England and i am 70 yr old, obviously i am retired.I grew up with the generation of saving for a rainy day and not to buy on credit, only pay cash for what you want. i now live in a generation where people do no save and happily live on credit.My son who works in finances and is a property developer advises me to buy in to bit coins; as you know it is a currency that is not real;it is what is referred to as cryptocurrency. To be honest, i have bought on coin and it is worth ten times more if i sell it now.Just goes to show how time has changed. I have also invested in my son,s business and I am getting 10% return annually, which is excellent compared to what the banks are offering, which is around 2-3% max. With the money i have made it does not make me happier.Interacting with others and sharing jokes and eating traditional food is what makes me happy. Sobe aware money is not everything, one could be miserable in luxury.
 

krish44

Well-known member
In india bit coins are banned by the govt as per RBI directions.

In places like singapore , one can get them in machines in malls.

Except IT savvy youngsters others do not try to trade in them

I have no experience of this virtual currency trade which is popular abroad.
 

Raman74

New member
Hiring servants for household instead of using own hands and utilising our brahmin brains for generating big money thru enterprise is wisdom.
Why drag brahmin brains here...??

Though this is a Brahmin Forum, it is open to all. One cannot say there are only Brahmins here.

Now, by anyway, the poster, is he trying to inculcate what is wisdom to Brahmins...?

For more, living happily is that matters.

Most of us are brought up in that way to lead a very simple life without luxuries.

We all know that it is illusion.. the wealth is illusion and richness of one cannot be measured, by the mere bank balance, the wealth one posses and taxes paid.

There is a section that believes, enjoy the God given life, every moment, don't be greedy to run after wealth, try to lead a self-contented life.

The luxury one possess and enjoy may bring equal proportion of worries.

Helping someone in distress is happiness

Sharing with others is happiness

Living a meaningful life is real happiness.

The richness we speak is nothing but illusion.

Appreciate what you have where you live and thank God for every happy moment you are blessed with.

We are taught that 'Too much of anything is good for nothing'.

Try to lead a simple, humble, lovable, blissful and unassuming life

To sump up, more happier is more richness
 
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prasad1

Well-known member
I live in England and i am 70 yr old, obviously i am retired.I grew up with the generation of saving for a rainy day and not to buy on credit, only pay cash for what you want. i now live in a generation where people do no save and happily live on credit.My son who works in finances and is a property developer advises me to buy in to bit coins; as you know it is a currency that is not real;it is what is referred to as cryptocurrency. To be honest, i have bought on coin and it is worth ten times more if i sell it now.Just goes to show how time has changed. I have also invested in my son,s business and I am getting 10% return annually, which is excellent compared to what the banks are offering, which is around 2-3% max. With the money i have made it does not make me happier.Interacting with others and sharing jokes and eating traditional food is what makes me happy. Sobe aware money is not everything, one could be miserable in luxury.

Welcome to the form.
You are lucky that you have a financial expert at home. Majority of us do not have that Luxury.
So we have to follow regular channels.
 

krish44

Well-known member
Why drag brahmin brains here...??

Though this is a Brahmin Forum, it is open to all. One cannot say there are only Brahmins here.

Now, by anyway, the poster, is he trying to inculcate what is wisdom to Brahmins...?

For more, living happily is that matters.

Most of us are brought up in that way to lead a very simple life without luxuries.

We all know that it is illusion.. the wealth is illusion and richness of one cannot be measured, by the mere bank balance, the wealth one posses and taxes paid.

There is a section that believes, enjoy the God given life, every moment, don't be greedy to run after wealth, try to lead a self-contented life.

The luxury one possess and enjoy may bring equal proportion of worries.

Helping someone in distress is happiness

Sharing with others is happiness

Living a meaningful life is real happiness.

The richness we speak is nothing but illusion.

Appreciate what you have where you live and thank God for every happy moment you are blessed with.

We are taught that 'Too much of anything is good for nothing'.

Try to lead a simple, humble, lovable, blissful and unassuming life

To sump up, more happier is more richness
Thanks for educating what gives happiness.

Many enjoy being in poverty and hide saying they are living a simple life.

They deny themselves all luxuries of good living and are a pain for all relatives living with them as they

preach the wisdom of so called simple living .

This type of mindset only keeps brahmins poor and become dependent on the state for doles.

All have their own recipes for being happy.

We have no interest in learning from poor drop outs on secret of happiness
 

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