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b u s i n e s s & e c o n o m y
6624 december 2010-20 january 2011
p a n a c h e
b u s i n e s s & e c o n o m y
6724 december 2010-20 january 2011
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It’s everybody’s dream to be wealthyand live the lie o a king. It’s time tostop dreaming and claim your destiny!Anu Gulmohar attempts to get youcloser to your pot o gold
Highway toEl Dorado
T
his year started with my man and I buy-ing a lottery ticket – the Punjab LohriBumper Lottery – and as we both wait-ed impatiently or the results that were to bedeclared some two months later, we happily built castles in the air about what we woulddo once the Rs. 2 crore prize was ours. Whilethis conession might make us seem silly tosome, I would bet a lot o my precious mon-
ey that the quixotic dream o getting
rich quick is shared by the majority. Whilemost o us don’t go buying lottery tickets, wehave sadly sighed looking at those expensive
showrooms and hot pair o wheels on theroads. Rather than to
quietly resign onesel to
one’s ate, how much
more exciting would liebe i instead we do try tobecome a millionaire! I you’d like some neat ideas
about how to shi rom
your apartment to a pent-house, then read on as I take
you through the multipleroutes you could take on this
journey…
Considering that you’re stillreading this, it would be sae to as-sume that you were not among the
0.0001% o the population born to really
rich parents. I you are unmarried, you
can still remedy your situation by nding
a rich partner or yoursel. And while
you’re at it, do remember to go or a pre-nuptial agreement, so you can stay richeven i you don’t stay married or long.
For the rest o us, one cannot stressenough on the need or investments,
whatever little the amount be, and to startas early as possible – when you’re a childeven. I you’re an adult, do consider get-
ting your children started on investing
along with yoursel, and you might justsee them getting hooked to seeing money multiply as they grow! You never knowthis hobby might just lead them to opt ora career in investment banking in the u-ture, which is an excellent way or themto add to the amily’s cofers. My riendRahul is an investment banker, and while
he nonchalantly admits his job assureshim a steady source o income, and
bonuses too, he assures me that there isonly one way to multiply money – invest-ing in equities. “Equity is the way to do it.
Tere is only so much money you can
make with mutual unds etc. Te real key
to succeeding in equities is looking at
stocks and sectors, which you know a lotabout and have inside knowledge about,”he advises.
My search or the shortcut to El Do-rado next led me to the door o Saurav
Ghosh, Director o MoneyBag Conserve,a real estate advisory rm. Aer all, eve-ryone has heard o people who have oundtheir riches through real estate. So, how
can we similarly emulate their success
stories? “Te minimum investment in realestate is about Rs. 25 lakhs in Delhi NCRand in smaller cities it’s about Rs. 5-6 la-khs. One needs to either have that kind o liquidity, or you should have the leverag-ing capacity (i.e taking loans rom FI). I this is the rst house that you are buying,or even i it’s just plain investment, then
the only thing that matters is location,
location and location, the best you can a-ord,” advises Saurav. Te one tip he shareswith us – “Delhi NCR are saturated mar-kets where rates have become stable in all
segments. I you are looking or quick
growth you have to look towards B and C
“Te real key to succeeding in equities is looking at stocks and sectors, which you know a lot about”
get rich
I l l u s t r a t I o n : k u l d e e p s I n g h
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