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How To Become Rich in India ?

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
 
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.
 
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.
 
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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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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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
 
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.
 
It's bit typical and different, their are some full proof methods and which are tested all across nation's timeline along it's length & breadth:

Politicians

main-qimg-f18f5b0dd550d188d613774a8c240257

Enlightened leaders

main-qimg-bc06042a46078b7ab93910f2b8e0e2d3

main-qimg-b4ab3cdce5e29635bef04a386193af8c

main-qimg-3351badd0cf20979c49b1fc01fb521e7

Gangster/thief

main-qimg-470d52c5bd02dcfd8bdd6192b0d6811d

main-qimg-8fdcb6c15a96184b6ff8de70cb425cd7

Image Source: Google


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

And there are many who live in assumed luxury and richness, focus only on enriching their live every moment and forget to enjoy whatever they are blessed with. They constantly chase wealth. They never get satisfied with that is made available. Finally, one fine morning, when they realise why they are running after richness, it is will be almost too late.

And such type of people love to preach others untiringly whatever they believe. Because they have miserably failed to lead a happy and satisfied life. They failed to enjoy the necessities they possess but grieve for non-essential luxuries and end of blaming the Government, cursing their fate, lamenting about the market trend, politics, etc

Beauty of simplicity is that it keeps your mind peace and fulfilled.

But on the other hand, God in real life bless such people with good health, wealth, happiness, prosperity in abundant measure and they lead a meaningful life.

But what to do ..in our daily life, we do come across lot of rich who do think like beggars. LOL



And there are many who live in assumed luxury and richness, focus only on enriching their live every moment and forget to enjoy whatever they are blessed with. They constantly chase wealth. They never get satisfied with that is made available. Finally, one fine morning, when they realise why they are running after richness, it is will be almost too late.

And such type of people love to preach others untiringly whatever they believe. Because they have miserably failed to lead a happy and satisfied life. They failed to enjoy the necessities they possess but grieve for non-essential luxuries and end of blaming the Government, cursing their fate, lamenting about the market trend, politics, etc

Beauty of simplicity is that it keeps your mind peace and fulfilled.

But on the other hand, God in real life bless such people with good health, wealth, happiness, prosperity in abundant measure and they lead a meaningful life.

But what to do ..in our daily life, we do come across lot of rich who do think like 'have-nots'. LOL
 
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The kings were very smart, they channeled religion to keep the educated brahmins poor, by preaching a simple life while enjoying the luxuries of life themselves.
There is no joy in poverty.
Yes, there is no joy in chasing money and be disappointed either.
 
In Bhaja Govindum Adi Shankara preaches to his disciples, it probably was appropriate for them.
Is it true for the average person living in this material world?

Sloka#18 सरु मंहदर तरु मलू नििासः शय्या भतू ल मन्जिंिासः । सिजपररग्रि भोग त्यागः कस्य सिु ंि करोनत विरागः

sura maṁdira taru mūla nivāsaḥ śayyā bhūtala majinaṁ vāsaḥ | sarva parigraha bhoga tyāgaḥ kasya sukhaṁ na karoti virāgaḥ || 18 ||

Word Meaning: sura maṁdira taru mūla nivāsaḥ - dwelling (sheltering) in temples, under trees, śayyā - bed (sleeping), bhūtalam - on the naked ground, ajinaṁ- (wearing)) skin (deer's) vāsaḥ - cloth, sarva parigraha - of the possession, bhoga - of thirst to enjoy, tyāgaḥ - renouncing, kasya - whose, sukhaṁ - happiness, na - not, karoti - brings, virāgaḥ - dispassion.

Meaning: No one can disturb the peace of mind and virāgaḥ, if one is willingly taking shelter in temples, under trees, sleeping on the naked ground, wearing a deer skin, and thus renouncing all idea of possession and thirst to enjoy.

Real happiness is an internal state of mind. There is no other means to gain and enjoy bliss except through perfect renunciation.

By renouncing the thoughts of possession and relinquishing all materialistic pleasure, one lives happily, ever self-sufficient, as one has discovered an inexhaustible well of joy and a rich mind of true satisfaction in one's own deep within.

When renunciation is only external, and when there is still the sense of attachment within, one cannot discover the true joy of living. Renunciation should be external as well as internal in all aspects of life. Then only one can reach the stage of desirelessness, not as a result of deliberate running away from life, but due to a positive experience of intense self-sufficiency felt and lived within.

One exercise to develop an awareness of how attached we are is to physically renounce whatever article, being or circumstance. If we are disturbed by the absence of whatever this will exploit our unhealthy mental relationship with that whatever. If we are not disturbed by the absence of that whatever this will affirm our healthy relationship with that whatever. This develops dispassion, virāgaḥ - detachment from material objects. Danam is a micro-exercise of this renunciation in the sense when we donate resources we are able to gauge whether we are disturbed, or not, by living with less.


The paragraph in purple is the gist of the sloka. Majority of the people misunderstand the true impact of the sloke.

How many of the preachers and the guru's live by the principles they preach? It is a good mantra to preach to the gullible. You will look very pious, but dishonest.

When you have nothing to eat and call it "patni" is dishonest.
When you have a house full of delicious food and forgo a meal then only it is "patni".
 
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