_*The Richest Man In Babylon - The Laws of Wealth which never change*_

_Principles of Wealth_ which never ever change with times

_THE RICHEST MAN IN BABYLON_

*Start thy purse to fattening* - pay yourself first before paying others even if you have debt

*Control thy expenditures* - 'whst each of us call as Necessary Expenses will always grow to equal out incomes unless we protest in contrary

*Make thy gold multiply* - Gold, meaning Wealth. _Money begets Money_  and _Uncontrollable Debt begets more debt_

*Guard the treasure from a loss* - Understand risk & avoid / lessen the blow from losses

*Make of thy dwelling a profitable investment* - well, a debatable point on whether to Own a Home or Rent a Home.....but, we'll have to run down the numbers always (in this case). It's not always profitable to own a home

*Insure a future income* - Insurance and future cash flow planning (including retirement)

*Increase thy ability to earn* - and so did Benjamin Franklin reiterate, _Invest in yourself_.....one sure shot way to increase the earnings.

Bottomline.... *My ten on Money in Life*

_Earn Money_

_Save Money_

_Invest Money_

_Multiply Money_

_Spend less Money_

_Don't borrow Money_

_Greed drives away Money_

_Fear also drives away Money_

_Cautiousness averts losing Money_

_Take appropriate advise on Money_

Let your children / grandchildren know the _*importance and place of money in our lifes*_

_*Eclipses, Investments & Beliefs*_

Every now and then, we get to see the solar and lunar phenomena...the Eclipses

Many *belief systems* (some true & some ridiculously false) are followed during the time frame of these Eclipses.

The truth....

Earth doesn't stop rotating / revolving

So does the time ... It doesn't stop

Celestial bodies... All continue to do their works

Sun ... Keeps doing his job

Moon ... Keeps doing his job

But, somehow we humans happen to stop going through our normal lives during this period of the Eclipses.

Personally, i feel it like responding to the *stock market phenomenon of volatility* which keeps recurring every now & then.

We tend to *react* to things which are beyond our control. Sometimes, it's called *precaution*, but the sanity of mind is lost most times, in the garb of precaution. 

*Celestial bodies continue do their work*

*Volatility continues to do it's work*

*We need to go out lives as is*

_*Aging, Portfolio & Wisdom*_

In life....as one keeps aging, there is *No Guarantee that one's wisdom levels have gone up*

In Investing.....as the Portfolio ages, the *Elasticity / Wisdom of the portfolio* to remain within a specific range of returns (maintaining the balance) is extremely strong

Most people, neither understand the former nor the later 🤷🏼‍♂

_*Seat Belts, Airbags, Spending & Asset Allocation*_

_Seat belt & Airbags are life savers in an unfortunate accident on the highway of driving_

_Need based spending & Asset Allocation are the financial life savers on the highway of a comfortable money life_

_*Earnings, Cash Flows & Stress*_

I'm always at *PEACE* with myself, when my _Cash Inflows match with my Needs & some Wants / Luxuries (if needed)_

I'm always at a *BATTLE* with myself, when my _Cash Inflows are always a Monthly Struggle to my Needs & some Wants_ 🤔

I'm always at a  *WAR* with myself, when my _Cash Inflows are sufficient to meet my Basic Needs BUT, are insufficient to meet the never ending Wants / Luxuries_

Cash Inflows = Earnings

Cash Outflows = Spending

How much ever is my earning, if *frugality* is not a virtue within myself, it'll destroy my present & my future.

Frugality means.....being careful when using money. I'll better say, *it's being sensible & thoughtful when spending money*

It doesn't mean to be miserely.

_Thoughtful Spending_ is meaning, *where & what should i spend on & where and what shouldn't i spend on*

It's quite simple to follow, if the _*thoughts in our brain are filled with Clarity of Purpose....on money & life matters*_

_*Diagnosis, Medication & Recovery*_

The base case for any *recovery* from an illness is the appropriate *diagnosis*

If, *what is the problem?* is not understood, the, *how to cure it?* can never be got.

_Incorrect Diagnosis, Incorrect Remedy_

Be it an illness or *Savings, Spending & _getting priorities right_*

We miss the *diagnosis* within our own perceptions & biases. Even if we get it right, *do we accept it*?

Earnings

Savings

Investing

Debt (Borrowings)

Liquidity

Risk understanding

Life as a whole

Diagnose the problem, objectively and accept it.

Medication is available.

We diagnose it & don't take the medication 🙂....situation doesn't change

_*Robo, Human & Decisions*_

Can Robo Advisory beat an Individual Human Advisor (Money or Life)?

Money ....Yes & No

Life .... Never

Everything in Money & Life is not filled with 1 & 0....for a program to be run.

There are so many *subjective variables* at stake.

The day we handover our Money & Life decisions to machines....we're on a  highway to hell.

I'll prefer to defer the decision of going onto a highway to hell as long as possible.

It's hip to talk about Robots / Automation / AI etc....but, the value they bring to one's life Vs the complications that are bundled along 🤔.....is it really worth ?

A human remains a human

Trying to make a human out of a machine is a disastrous decison.

Automate only what needs to be.

The rest needs to be kept at a simple.

Data is good but what we do with it, is what counts. 

That decision of, What we do with that data, should never be a machine's call for us.

It should always end as a  *human decision*.

_*Certainty, Uncertainty & Money Life*_

*Life & Politics are so uncertain*

*Money & Investments look to have a certain, _Certainity_*

_*Children, Growth & Investing*_

Quite a cliched statement which compares the growth of a child to one's investments. 

Nevertheless...

The stages most forget are these....

_Just Born_ starting to invest

_Infant_ getting adjusted to the investing process

_Baby_ highly dependent & does nothing but eat (earn), sleep (doing nothing after investing) & play (enjoying the process of investing)

_Boy / Girl stage_ serious work & play starts as in serious accumulation of savings & investments

_Teens_ the *volatility* stage but we need to let the phase pass through. It will, eventually. 

_Grown up Adult_ into the best phase of *compounding growth*. All that has been accumulated & stayed out throught the 20 to 25 year period starts to deliver the best results.

Don't we know these phases 🤔?

Yes, we all know and we've gone through them.

Then, why do we still keep getting panicked about every fall that an investment child is taking.

No worries.

_Invest_

_Keep track_

_Review_

_Let it grow_

_*Philosophy, Structure & Money Life*_

Lego blocks fit perfectly well with each other.They have a *philosophy* in the way they are built & structured.

*Money, Investing & Life* should also perfectly fit each other in the way they're to be built or structured.

We can't have the current situation as in Maharashtra, in our Money & Life. 

_No Philosophy_

_No Structure_

*Do we fit with each other?*

*Do our Assets for with each other?*