13 Steps to Bloody Good Wealth

by Ashwin Sanghi

money is merely a concept, albeit the most powerful concept ever to grip human consciousness. It runs our world and turns our lives topsy-turvy. Many say that to master money is to master life itself!

‘The only thing that money gives you is the freedom of not having to worry about money.’

in 12th century England, the word ‘wealth’ meant well-being and happiness?

‘There are people who have money and then there are people who are rich.’

Net worth is the value of everything you own (your assets), minus everything you owe (your liabilities). But it’s one thing to find out what your net worth is and quite another to find out what it should be.

Pablo Picasso said. ‘I’d like to live as a poor man with lots of money.’

Based on this model, Li KaShing says you should spend 30% of your monthly income on living expenses, 20% on building your network, 15% on learning, 10% on travelling and invest the remaining 25%.

You may have heard the phrase ‘high risk, high return,’ implying that the more risk you take, the greater your return. Not only is this often incorrect, but also misleading. There are no such guarantees. Just as high risk means the possibility of higher returns, it also means higher potential losses.

Take my word that if you watch your money on a daily basis, you are bound to get nervous and do something rash. I have seen people panicking and selling out during volatile periods.