Category Archives: Wealth

Time Perspective

Are you past or present or future oriented?  Your time perspective has a major bearing on your ability to create wealth.

According to the research done by psychologists, if you have future time perspective, you will be more successful.  People with future time perspective (futures) get more education and they earn more money.  Also, they spend less and save more.

Psychologist Prof. Philip Zimbardo identified several personality types in relation to time orientation. People can live in different time zones

  • Past positive: you are nostalgic and think of good old days gone by
  • Past negative: you are regretful about the past and think of failure, all the things that went wrong
  • Present hedonistic: you live for today and seek pleasure and sensation
  • Present fatalism: your life is governed by external forces and you abhor planning.
  • Future: your focus is on learning rather than play.  You are goal orientend and amenable for planning
  • Transcendental Future: you believe life begins after the death of the mortal body

It should be no surprise to find that future oriented people tend to be wealthy because to become wealthy you can’t spend more money than you earn.  In fact, you should save and invest wisely.

Here are Prof. Zimbardo’s recommended five steps toward achieving financial freedom:

(1) The present is the best time to start investing.

(2) Time in the market is more important than timing the market.

(3) Know when your time will be up; those with a long time ahead of them can afford more risky investments.

(4) You can’t time the markets.

(5) A pleasure-seeking time perspective is an expensive habit few can afford.

Simple, aren’t they?

Link to Prof. Zimbardo’s video “The Secret Power of Time.



Following paragraphs are extracted from Napoleon Hill’s 1938 classic “Think and Grow Rich”

The imagination is literally the workshop wherein are fashioned all plans created by man. The impulse, the desire, is given shape, form, and action through the aid of the imaginative faculty of the mind.

It has been said that man can create anything which he can imagine.

Of all the ages of civilization, this is the most favorable for the development of the imagination, because it is an age of rapid change. On every hand one may contact stimuli which develop the imagination.

Through the aid of his imaginative faculty, man has discovered, and harnessed, more of Nature’s forces during the past fifty years than during the entire history of the human race, previous to that time. He has conquered the air so completely, that the birds are a poor match for him in flying. He has harnessed the ether, and made it serve as a means of instantaneous communication with any part of the world. He has analyzed, and weighed the sun at a distance of millions of miles, and has determined, through the aid of imagination, the elements of which it consists. He has discovered that his own brain is both a broadcasting, and a receiving station for the vibration of thought, and he is beginning now to learn how to make practical use of this discovery. He has increased the speed of locomotion, until he may now travel at a speed of more than three hundred miles an hour. The time will soon come when a man may breakfast in New York, and lunch in San Francisco.

Man’s only limitation, within reason, lies in his development and use of his imagination. He has not yet reached the apex of development in the use of his imaginative faculty. He has merely discovered that he has an imagination, and has commenced to use it in a very elementary way.

What he said is very much true even today.  I recommend this book for all to read.  You can download a free copy at

What Is Wealth ?

A financial planner’s job is to help you create wealth.  Our tradition and culture place high value to the objective of creating wealth.  We worship goddess Lakshmi reverently.  We use all our learning, time and energy to accumulate wealth, enhance it, preserve it and pass it on to our children.  So, what is wealth according to you?  Is it knowledge or money or property or gold?  Is it bank balance or bundle of shares and stocks?

The word wealth comes from the old English words “weal” (well-being) and “th” (condition) which taken together means “the condition of well-being”? The father of accounting Luca Paciolli, a 16th century Fransiscan monk and mathematician, never defined the word “wealth” nor did he provide a definition of “profit.” Accounting process does not define both words clearly.

Here is a collection of thoughts many rich and not so rich people have about wealth:

Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.
– Ayn Rand

Money is like love; it kills slowly and painfully the one who withholds it, and enlivens the other who turns it on his fellow man.
– Kahlil Gibran

Capital as such is not evil; it is its wrong use that is evil. Capital in some form or other will always be needed.
– Gandhi

If you want to know what a man is really like, take notice of how he acts when he loses money.
– Simone Weil

Seen in those terms, what we like to consider as our wealth has far more evanescent and transitory character than most of us are ready to admit. What appears to be “ours,” in other words, is ours only by leave of the rest of the fraternity of investors, not one of whom is in any way committed to paying up for what we hold.

It is also essential to keep in mind that wealth is literally meaningless without future. If there were no future, accumulation of wealth would be insanity. But that means that fluctuations in our wealth are intimately and inextricably involved with our view of the future.

– Peter Bernstein

Gross National Product (GNP) measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country. It measures everything, in short, except that which makes life worthwhile.”

– Robert F. Kennedy

The only question with wealth is what you do with it.”

–  John D. Rockefeller

“Being rich is having money; being wealthy is having time.”

– Margaret Bonnano

A wise man’s day is worth a fool’s life.

– Anonymous

Wealth is well known to be a great comforter.

– Plato

Without a rich heart, wealth is an ugly beggar.

–  Ralph Waldo Emerson

Sons are of three kinds: those of sharp intelligence; those of stagnant intelligence; and those of perverted mind.

Whoever carries into practice whatever he is taught concerning righteousness and wealth is one of sharp intelligence; whoever never carries into practice the good instructions he has imbibed is one of stagnant intelligence; and whoever entangles himself in dangers and hates righteousness and wealth is one of perverted mind.

– Kautilya in Arthashastra

So what is your definition of wealth?  Do let us know.