Re: [silk] What should I do with my money?
On Thu, Apr 24, 2014 at 10:42 AM, Pranesh Prakash
the.solips...@gmail.com wrote:
On Tue, Apr 8, 2014 at 2:03 PM, Sumanth Cidambi scida...@yahoo.com wrote:
The ancient law (for want of a better phrase) - source, Dharma
1/6 - spouse
1/6 - progeny
1/6 - parents
1/6 - spouse's parents
1/6 - charity (depending on your vocation)
Remainder - self and general purposes
But in a multiple-income household, what happens to the 1/{6/12/etc}
of your {spouse,parent{s},kid{s}}'s income that you get?
Obviously, you divide it into 6 and share with spouse, parents,
progeny, et al. In short, it's turtles all the way down.
-- b
Re: [silk] What should I do with my money?
On Tue, Apr 8, 2014 at 2:03 PM, Sumanth Cidambi scida...@yahoo.com wrote:
The ancient law (for want of a better phrase) - source, Dharma
1/6 - spouse
1/6 - progeny
1/6 - parents
1/6 - spouse's parents
1/6 - charity (depending on your vocation)
Remainder - self and general purposes
But in a multiple-income household, what happens to the 1/{6/12/etc}
of your {spouse,parent{s},kid{s}}'s income that you get?
Re: [silk] What should I do with my money?
On Wed, Apr 9, 2014 at 9:56 AM, Udhay Shankar N ud...@pobox.com wrote: Also, something is only an investment if there is a willingness to convert it into money, which does not typically seem to be the case. Heh. This is one reason I have not invested in gold despite all the expectations from relatives that I do so. The other reason, of course, is that I don't have any money. But the first reason plays better with the aforementioned relatives. -- b -- b
Re: [silk] What should I do with my money?
The obsession with real estate fascinates me. I know people who have bought houses for close twenty times their in-hand annual income! Also the practically universal belief that real estate prices will never fall because they have never fallen, which is like saying I will never die because I have never died before. I also liked a line in that article which urges you to invest in experiences rather than possessions. On 9 April 2014 19:31, Biju Chacko biju.cha...@gmail.com wrote: On Wed, Apr 9, 2014 at 9:56 AM, Udhay Shankar N ud...@pobox.com wrote: Also, something is only an investment if there is a willingness to convert it into money, which does not typically seem to be the case. Heh. This is one reason I have not invested in gold despite all the expectations from relatives that I do so. The other reason, of course, is that I don't have any money. But the first reason plays better with the aforementioned relatives. -- b -- b -- Narendra Shenoy http://narendrashenoy.blogspot.com
Re: [silk] What should I do with my money?
On Wed, 2014-04-09 at 09:56 +0530, Udhay Shankar N wrote: - Opportunity costs: Real estate typically (say over a 10+ year period) lags behind the stock market in rate of return. Given inflation rates in India, it probably lags behind inflation as well - making it a net losing proposition. (This is an aggregate claim - please don't respond by quoting individual examples) Also, something is only an investment if there is a willingness to convert it into money, which does not typically seem to be the case. Udhay, wealth in India ( I have no statistical figures - I am guesstimating) is often measured by land owned because gifts of land were given by kings to loyal subjects and people deserving of royal gratitude. Land was wealth in an economy that was primarily agrarian. That is how we have Indian economic classes like landed rich and landless poor Real estate as an investment makes most sense if you don't own any at all. After that it makes sense in different ways. One typical method is to wait for appreciation and sell to use the money for another investment such as donation fees for son's medical college. Another reason for acquiring land is to leave behind significant amounts to children in one's will to avoid infighting and ensure that everyone has a piece of land to live on. In none of these instances is a direct assessment being made of the monetary value of land as investment. In that sense education of one's children is considered and investment in the future but don't you think that is financially absurd to do that? There is no direct monetary rationale for that shiv
[silk] What should I do with my money?
I don't usually send along this kind of article to silk, but this quoted part is interesting, and mostly aligns with my opinion. I would be interested in opinions from the list, especially on the last part. Udhay http://www.businessinsider.com/money-cheat-sheet-2014-4?IR=T q WHAT ELSE SHOULD I DO WITH MY MONEY? Forget about it. Money is just a side effect of health. I talk a lot about the daily practice I started doing when I was at my lowest point. I know now after years of doing it that it has worked. I've done very well with it, and I started doing it when I was dead broke, lonely, angry, depressed, and suicidal. I didn't start it from a position of privilege. And you don't have to buy my book. I'm not selling anything. Here's the whole thing: stay physically healthy in whatever way you know how (sleep well, eat well, exercise). Be around good people who love you and respect you and who you love and respect, and be grateful every day. Think of new things each day (or all day) to be grateful for. Gratitude is another word for Abundance because the things you are most grateful for, become abundant in your life. And finally, write down 10-20 bad ideas a day. Or good ideas. It doesn't matter. After exercising my idea muscle for six months, I felt like an idea machine. It was like a super power that just wouldn't stop. /q -- ((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
Re: [silk] What should I do with my money?
The ancient law (for want of a better phrase) - source, Dharma 1/6 - spouse 1/6 - progeny 1/6 - parents 1/6 - spouse's parents 1/6 - charity (depending on your vocation) Remainder - self and general purposes Having lived a life of almost near penury these last 17-18 months, I managed upto 4/7 of dharma and no further. Without sounding parochial, further pointers in the yagnavalkya smriti and (separately), santi parva of the mahābhāratā. Best Sumanth Sent from my iPhone On 08-Apr-2014, at 19:18, Udhay Shankar N ud...@pobox.com wrote: I don't usually send along this kind of article to silk, but this quoted part is interesting, and mostly aligns with my opinion. I would be interested in opinions from the list, especially on the last part. Udhay http://www.businessinsider.com/money-cheat-sheet-2014-4?IR=T q WHAT ELSE SHOULD I DO WITH MY MONEY? Forget about it. Money is just a side effect of health. I talk a lot about the daily practice I started doing when I was at my lowest point. I know now after years of doing it that it has worked. I've done very well with it, and I started doing it when I was dead broke, lonely, angry, depressed, and suicidal. I didn't start it from a position of privilege. And you don't have to buy my book. I'm not selling anything. Here's the whole thing: stay physically healthy in whatever way you know how (sleep well, eat well, exercise). Be around good people who love you and respect you and who you love and respect, and be grateful every day. Think of new things each day (or all day) to be grateful for. Gratitude is another word for Abundance because the things you are most grateful for, become abundant in your life. And finally, write down 10-20 bad ideas a day. Or good ideas. It doesn't matter. After exercising my idea muscle for six months, I felt like an idea machine. It was like a super power that just wouldn't stop. /q -- ((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
Re: [silk] What should I do with my money?
On Tue, 2014-04-08 at 19:18 +0530, Udhay Shankar N wrote: WHAT ELSE SHOULD I DO WITH MY MONEY? Udhay, that was a thought provoking article with plenty that I agreed with. Both money and materialism are considered evil by a segment of Indian society. A segment, but not everyone though. I found the reference to real estate and gold in the article interesting. Money per se in India tends to get hoarded as savings rather than spent on consumer goods. But among big ticket expenditure, real estate (a plot of land/house) and gold are traditionally considered among the best long term assets. The argument against real estate in the article indicates that tax structures in the society the author lives in are unfavourable for people who attempt to hold real estate as an asset. Right now that is not true in India. Gold, of course is eternal for Indians. The author seems to come from a society in which people have some sort of buffer or social security that will help survival when all else is lost. This is non existent for most Indians, so money becomes valuable for savings, real estate and gold which serve as buffer against uncertainties of the future. shiv
Re: [silk] What should I do with my money?
On Wed, Apr 9, 2014 at 9:40 AM, SS cybers...@gmail.com wrote: The argument against real estate in the article indicates that tax structures in the society the author lives in are unfavourable for people who attempt to hold real estate as an asset. Right now that is not true in India. My argument against real estate is that various costs are not factored in by people when they talk about it being an investment. - Actual costs: for most people on this list (e.g), buying real estate is not done with cash on hand, but with a loan. And rating its performance as an investment has to be done after taking the costs of the loan into account, which can easily double (or more) the cost of the asset over the tenure of the loan. - Opportunity costs: Real estate typically (say over a 10+ year period) lags behind the stock market in rate of return. Given inflation rates in India, it probably lags behind inflation as well - making it a net losing proposition. (This is an aggregate claim - please don't respond by quoting individual examples) Also, something is only an investment if there is a willingness to convert it into money, which does not typically seem to be the case. Udhay -- ((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
Re: [silk] What should I do with my money?
Depends. Real estate by itself tends to appreciate significantly for the first few years of a property's life after which the value plateaus and then starts to tank till it is only worth the price of the land (where the house is demolished and rebuilt) There are certain tax breaks for self occupied houses and even more for those that you rent out. I still wouldn't buy any more than I absolutely needed to live in / move to for one ransom or the other (closer to work larger family, need a nicer home etc) --srs (iPad) On 09-Apr-2014, at 9:56, Udhay Shankar N ud...@pobox.com wrote: On Wed, Apr 9, 2014 at 9:40 AM, SS cybers...@gmail.com wrote: The argument against real estate in the article indicates that tax structures in the society the author lives in are unfavourable for people who attempt to hold real estate as an asset. Right now that is not true in India. My argument against real estate is that various costs are not factored in by people when they talk about it being an investment. - Actual costs: for most people on this list (e.g), buying real estate is not done with cash on hand, but with a loan. And rating its performance as an investment has to be done after taking the costs of the loan into account, which can easily double (or more) the cost of the asset over the tenure of the loan. - Opportunity costs: Real estate typically (say over a 10+ year period) lags behind the stock market in rate of return. Given inflation rates in India, it probably lags behind inflation as well - making it a net losing proposition. (This is an aggregate claim - please don't respond by quoting individual examples) Also, something is only an investment if there is a willingness to convert it into money, which does not typically seem to be the case. Udhay -- ((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
Re: [silk] What should I do with my money?
On Wed Apr 09 2014 at 2:42:04 PM, Suresh Ramasubramanian sur...@hserus.net wrote: I still wouldn't buy any more than I absolutely needed to live in / move to for one *ransom* or the other (closer to work larger family, need a nicer home etc) Paging Dr. Freud Paging Dr. Freud... Thaths
