Birth in hideous poverty is a matter of accident but to remain poor and miserable needs efforts.
It is not easy to remain poor. Education opens new avenues of prosperity but it requires extra ability to miss opportunities and remain struck in abysmal poverty.
Vacations and holidays:
To remains poor it is important to religiously follow the calendar and obey all holidays, all vacations and presume that is what everyone does. However, those who get rid of poverty do not fall is this trap and take vacation when its suits their works cycle. So enjoy life and poverty alongwith the holidays. Those who remain well above poverty line are those who use the holidays to harness new skills or to update knowledge to cope with the dynamic word in which knowledge gets absolute every day. Continue reading
Life and Money!
My father used to say:
The real blood in your veins is the currency notes in your pocket. Without money, you are dead and doomed off.
It may sound exaggeration but take a look around at real poor. A person with no asset, no home and worse with no job force to find something from trash. Any how, we can not all work 8-12 hours every day. We may start with that and then we accumulate surplus and lean on surplus to earn for ourselves as we struggle with our aging bodies, to maintain quality of life. If you have never thought in these terms it is time to do so, now.
How to achieve consistent return on investments?
This is a daily worry of a vast majority of people. Losing money on stock, commodity or currency is everyday routine talk. Rarely one would find a person who would be able to tell what to do with investments. Actually India has highest rate of interest on money kept in bank deposits but it rarely adds up. It is worse in the west. The position can be summed up like this:
With FD rates tumbling to 7% range from 9% range in just two years, everybody is talking about making long-term investments to protect your investments from further rate cuts (experts are predicting another rate cut by RBI in coming policy meeting on April 5, 2016. But one may wonder where to invest for long-term as interest rates are revised every year for PPF, NSC, KVP, Post Office deposits, senior citizen schemes etc.
In case of FDs, the present taxable rate of around 7.3% becomes very unattractive for higher tax payers as the post-tax return falls to 5.11% for 30% tax payers, 5.84% for 20% tax payers. So, even 6% tax-free return in long run now becomes very attractive.
But the worst is inflation. Presently around 6% it had risen to 16% in past few years this eroding the return altogether. While earning from salary or professional income it may not hurt much but once in retirement or otherwise disabled, it hurts very much.
There are three modes of investments:
Never keep all eggs in one basket. spread your eggs around.
1. Real Estate or Immovable Property:
Is it my fate?
It appears that while Prince of Words, in his vacation away from Kingdom of Ark, is swimming with mermaids in the sea of Taos, the King of Words has attacked the earth and we are collecting the debris of words left behind. This is what we collected last night:
Poor are suffering humans are discovering;
Poor are hungry, humans are angry;
Poor are shivering, humans have discarded rags;
Poor want food, humans are surviving mood;
Poor want to speak, humans do speech; Continue reading
Premji first Rich Indian to sign a pledge to let go his riches!
It is an enormous gesture on the part of Premji even if we do not understand true nature of his pledge. The meaning of philanthropy is as varied as the meaning of barbarian, Premji is the third richest Indian as his wealth is estimated to be about Rs 870,000,000,000. or about USD 15 Billion. There are about 105 individuals who have pledged to let go their cumulative wealth of about 500 billion USD. More details can be seen at “givingpledge dot org.” Problem in India and elsewhere is implementation of charity.
A few days back I bought two Lungis. For those do not know, Lungi is a traditional pan Indian costume worn by males (almost). Actually it is a long piece of cloth which is rolled around waist just like sari. It is wrongly presumed that it is worn only in southern India. The fabric, print, colors and style of knotting change from one language pocket to another but it is the traditional relax-wear (in some States it is the Formal-wear. Ever seen P. Chidambaram?). I discovered the comfort of Lungi about a decade back when due to a surgical procedure I started using it. But I fell in love of it ever since.”]
This is not an advisable use of Lungi. Click pic to reach source.
The issue here is not of my taste in menswear but inflation rather disparity in prices of goods. I purchased the (southern) Lungi for Rs.99/- a piece (approx $2/-). I distinctly remember that in 2008-2010 it used to cost Rs.80/-. While popular beer at that time used to cost Rs. 35/- and now it costs about Rs.70/- i.e. double. Milk which used to cost Rs. 19/- per litre now costs Rs. 40/- per litre. Similarly vegetables, pulses and fruits all have doubled in just 4 years. This is the ground reality. If some one differs I can give prices of all these items. Lungi is manufactured at a very small level. Artisans from villages work up and dye these Lungis. By it’s very nature it is not a factory produced corporate product but a kind of household trade.
My question is: How come that price of Lungi has risen only by 25% when everything else has risen by 100%? And how those artisans whose livelihood is dependent on this product, are going to meet the inflation with just 25% increase in the price?
The statistics of poverty given by United nation at this link is meaningless, because it measures it statistically not realistically. Rising income can not comfort unless the Food Prices do not rise in higher proportion than rest of the products. If this trend does not stop, it is extremely dangerous for the poor section already on fringe of malnutrition.