by Damodhar Mata
They say money doesn't grow on trees. But sure, it grows when you invest your savings wisely! Learn how to grow wealth, create passive income, and achieve your goals faster with Damodhar Mata on the My Two Fils podcast. This show covers financial planning and investments in detail, weekly market updates in summary, and insightful interviews with people who have been there and done that. Tune in every Saturday to this personal finance podcast and make the best of your new weekend in UAE.
Language
🇺🇲
Publishing Since
8/1/2021
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April 16, 2022
<p>Have you watched this move Sharmaji Namkeen?<br> <br> It is a Sumptuous Food for Thought.<br> <br> We all loved it. <br> <br> You should watch it if you haven't already.<br> <br> It is Rishi Kapoor's swan song, in which he managed to capture the hearts of young and old for one last time.<br> <br> It is also a celebration of food, friendship, family, and the feelings of a lonely and not-so-old man forced into early retirement. <br> <br> While the movie was light-hearted and entertaining, it is full of life lessons and a thought-provoking screenplay. <br> <br> This is Episode season one, episode 5, and today, I will share the Five Life lessons I observed and learned from the movie Sharmaji Namkeen.</p> <p>Click <a href="https://www.financialplanningindubai.com/hubfs/Ideal%20Retirement%20Definition%20Tempalte%20.pdf" target="_blank">here</a> to download the Ideal Retirement Planner and <a href="http://bit.ly/Meet-Damodhar-Mata" target="_blank">here </a>to arrange a Complementary session with me.</p>
April 3, 2022
<p>Every month when you receive your salary, you pay so many people!</p> <p>You pay your...</p> <ol> <li>Landlord or the bank for the house</li> <li>You pay for the electricity and water</li> <li>Mobile, telephone and internet</li> <li>Your Children's school</li> <li>The Supermarket for groceries</li> <li>Apple, Netflix, Amazon</li> </ol> <p>The list goes on and on...</p> <p>But when do you pay yourself, or do you even pay yourself at all?</p> <p>Paying yourself first is saving money for your future before spending on your needs, wants, and, more importantly, luxuries!</p> <p>It is one of the fundamental principles of financial success.</p> <p>The pay yourself first strategy is quite simple to understand, isn't it?</p> <p>But it looks like it is not so easy to implement!</p> <p>Because not many are following this strategy, and among those who do, only a few are doing it consistently.</p> <p>Why is it so difficult?</p> <p>You may find it difficult if you follow the traditional budgeting approach of saving what is left after bills and payments. It is quite possible that not much is left after spending on your needs, wants and luxuries. And sometimes there could also be too much month at the end of money.</p> <p>Reminds me of the funny but ironic song Too Much Month (At The End Of The Money) by Marty Stuart. Listen here...</p> <p>You could keep going back to this comfort zone, with an excuse that bills come first or I don't have enough for today; how can I think about the future?</p> <p>So how do you get around this?</p> <p>The best and the easiest way to pay yourself first is by following the Payday Savings Strategy.</p> <p>It is deciding how much you can and want to save, automating the savings to coincide with your payday, and then spending the rest guilt-free and at your discretion. <br> <br> Set up a Systematic Investment Plan(SIP) on or just after your payday. So that a particular amount is debited from your account and invested automatically into the assets of your choice.<br> <br> So let's say you earn 30000 Dhs a month, and you can and want to save AED5000 every month. Then you could set up an automatic transfer every month(5000) into a savings account or an Systematic investment plan and spend the rest(25000) on your needs, wants, and luxuries. <br> <br> it not only helps you accumulate wealth consistently, it also helps you harness the power of compounding and the dollar cost averaging.<br> <br> Isn't this a simple and efficient way to pay yourself first and accumulate wealth consistently.<br> <br> Let me know what you think and arrange a free consultation to know more about SIP, Dollar cost averaging, power of compounding and many other useful financial concepts.<br> <br> Click <a href="http://bit.ly/Meet-Damodhar-Mata">http://bit.ly/Meet-Damodhar-Mata</a> to arrange a free consultation.</p>
March 31, 2022
<p>Is First April, a Fools Day?</p> <p>While the world was busy fooling people or getting fooled, three individuals got together to create the world's biggest company on 1st April 1976.</p> <p>Guess which company it is?</p> <h2>Yes, it is Apple.</h2> <p>Apple reached the 3 Trillion Dollar mark on January 2, 2022, when its share price touched $182.86.</p> <p>Apple was also the first company to hit a $1 trillion market cap on August 2, 2018.</p> <p>It just took a little over two years to double its market cap to $2 trillion on August 19, 2020, despite Covid-19.</p> <p>Apple Computers, Inc. was formed on April 1, 1976, by college dropouts Steve Jobs, Steve Wozniak, and Ronald Wayne, who was then working at Atari as a chief draftsman.</p> <p>Jobs was 21, and Wozniak was 26. They wanted to make computers small enough for people to have them in their homes or offices.</p> <p>Both Jobs and Wozniak were young and enterprising, but Wayne was nervous and skeptical about this venture's prospects. He was 41 then and did not want to stake his savings on these young lads.</p> <p>After 12 days, he sold his 10% stake in the company back to Jobs and Wozniak for $800.</p> <p>Little did Wayne forecast that the young Turks could put a dent in the universe...</p> <p>Today, a 10 percent stake in Apple would be worth $285 Billion. This number is bigger than the biggest Indian company Reliance Industries, whose market cap is around 230 billion.</p> <p>It doesn't end there...</p> <p>Wayne kept his original partnership contract from 1976 for many years until the early 90s, when he sold it for $500.</p> <p>Wayne told Cult of Mac.</p> <p>"I had this Apple contract sitting in my filing cabinet, covered in dust and cobwebs, and I thought, 'What do I need to hold onto that for?"</p> <p>According to The Filthy Rich Guide, the same contract was sold at an auction for $1.59 million in 2011.</p> <p>Image Source: https://www.cultofmac.com/475927/ron-wayne-quits-apple/</p> <p>Now Wayne is more than 80 years old and Networth is less than 500,000.</p> <h2>So what do we learn from here?</h2> <p>For me the following are 4 key takeaways from this story…</p> <ol> <li>Patience is a virtue and a much necessary trait when it comes to investing or building a start-up.</li> <li>It is vital to see the bigger picture and, more importantly, trust your team instead of having a narrow, short-term vision.</li> <li>It is essential to take some risks or Maybe a little more to achieve big things in life.</li> <li>While someone somewhere is busy creating another big company like Apple, you can build one or invest intelligently in many such companies. You could end up being a part of something huge and create lasting wealth for yourself in the process.</li> </ol> <p>Is there anything else you can learn from this story?</p> <p>Share your views in the comments below..</p> <h3>Now, Coming back to my original question, Is April 1 the Fools day?</h3> <h3>Yes and no, I guess...</h3> <p>Please share your thoughts on the above...</p> <p>Arrange a Free Consultation to understand how you can participate in the growth story of worlds largest companies and create lasting wealth for yourself in the process.</p> <p>Visit <a href="http://bit.ly/Meet-Damodhar-Mata">http://bit.ly/Meet-Damodhar-Mata </a>to arrange to schedule our meeting. </p>
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They say money doesn't grow on trees.
But sure, it grows when you invest your savings wisely!
Learn how to grow wealth, create passive income, and achieve your goals faster with Damodhar Mata on the My Two Fils podcast.
This show covers financial planning and investments in detail, weekly market updates in summary, and insightful interviews with people who have been there and done that.
Tune in every Saturday to this personal finance podcast and make the best of your new weekend in UAE.
This podcast updates daily.
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