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Summary – The Richest Man in Babylon.

The story is set in Babylon, which was once a city of wealth and splendour due to the hard work and wisdom of the people there. In the book, a wise, rich man from Babylon offers valuable advice on how to create and preserve wealth. Here is a summary of the lessons in the book –

To begin with, the seven rules of money to be practiced are listed. These comprise of steps without which one cannot generate wealth –

Save money. He says for every ten coins, you put in your purse, spend nine. This way you will accumulate money over a period of time.

Plot or a house?

Which is a better investment in property: Buying land or buying a residential house?
This is a very broad question!

Firstly investing in property “for investment purpose” should be considered diligently. Property growth as an asset class has been stagnant for the last 3 years especially in Bangalore.

Asset Allocation Holds the Key to Returns

what is most important is asset allocation in a portfolio to ensure that an average return on the basket of assets has been achieved which is above inflation!

Asset allocation holds key to returns

Nothing can be further from the truth on the myth about real estate and gold being the best investment avenues.

Why financial planning

Source: IRIS (23-APR-12) http://www.myiris.com/financial/storyShow.php?dir=2012/04/23/&fileR=20120423093014715 Like most people, you have hopes, dreams, and life goals for yourself and your family. These might include buying a home or business, saving for college education for your children, taking a dream vacation, reducing taxes, and retiring comfortably. Financial planning is the process of wisely managing your finances so that […]