Financial services Section: A generational thing- why we don’t understand money

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It’s interesting looking at the attitude of various generations towards money.

The War Generation was raised to be in debt to no-one for nothing.  Don’t take credit and, if you do have to borrow, pay it off as fast as possible.

The Boomer Generation was raised to borrow as much as possible from everyone.  The aim was to leverage as much as possible in youth years in order to create wealth and capital for the grey years.

Generation X was raised without understanding money at all.  Just spend and the bank will find a way to give you credit.  So they lived the life of Reilly and are now paying for it.

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Inside India’s Consumers’ Life: Luxury Resurfaces in India, Cutting a Wider Swathe

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India has been no stranger to branded luxury. The shopping lists of Indian royalty are still remembered long after princely titles have been reduced to mere courtesy. In 1926, for instance, the Maharaja of Patiala gave iconic jewelry house Cartier its largest commission to date — the remodeling of his crown jewels, which included the 234.69 carat De Beers diamond. The result was the Patiala necklace weighing 962.25 carats with 2,930 diamonds. In 1928, the Maharaja of Jammu & Kashmir placed 30 orders in six months for trunks from luggage-maker Louis Vuitton, including one for a shoe maintenance kit. In the 1930s, 20% of Rolls Royce’s global sales were from India.

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Managing Self:”The 50 Business + Life Lessons 2012 Taught Me” – Robin Sharma

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2012′s coming to a close. It was a hard year for people behaving as victims. And a superb year for people like you showing up as leaders (and world-builders).

  1. Hard work is a force multiplier.
  2. Procrastination is an escape mechanism for people scared to do their best work.
  3. Give your customers 10X the value they expect and they’ll tell everyone they know about you.
  4. Don’t do it if you’re not having fun.
  5. If you’re not scared a lot you’re not growing very much.

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Making the Choice Between Money and Meaning

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You’re going to need to apply not just the following professional skills — entrepreneurship; “networking,” pluck and drive, strategic thinking, leadership, branding and marketing — but also the following human capacities: a stubborn refusal to obey the dictates of the status quo, an unwavering empathy, a healthy disrespect for the naysayers, the humility of the servant and the pride of the master artisan, a persevering sense of grace, a heaping spoonful of that most dangerously unpredictable of substances, love, and, finally, the unflinching belief in a better tomorrow that those have always had who dust their saddles off, dig their spurs in, and forge ahead into the great unknown.

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Thanks for your time

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It had been some time since Jack had seen the old man. College, girls, career, and life itself got in the way. In fact, Jack moved clear across the country in pursuit of his dreams. There, in the rush of his busy life, Jack had little time to think about the past and often no time to spend with his wife and son. He was working on his future, and nothing could stop him.

Over the phone, his mother told him, “Mr. Belser died last night. The funeral is Wednesday.”

Memories flashed through his mind like an old newsreel as he sat quietly remembering his childhood days.

“Jack, did you hear me?”

“Oh sorry, Mom. Yes, I heard you. It’s been so long since I thought of him. I’m sorry, but I honestly thought he died years ago,” Jack said.

“Well, he didn’t forget you. Every time I saw him he’d ask how you were doing. He’d reminisce about the many days you spent over ‘his side of the fence’ as he put it,” Mom told him.

“I loved that old house he lived in,” Jack said.

“You know, Jack, after your father died, Mr. Belser stepped in to make sure you had a man’s influence in your life,” she said.

“He’s the one who taught me carpentry,” he said. “I wouldn’t be in this business if it weren’t for him. He spent a lot of time teaching me things he thought were important… Mom, I’ll be there for the funeral,” Jack said.

As busy as he was, he kept his word. Jack caught the next flight to his hometown. Mr. Belser’s funeral was small and uneventful. He had no children of his own, and most of his relatives had passed away.

The night before he had to return home, Jack and his Mom stopped by to see the old house next door one more time.

Standing in the doorway, Jack paused for a moment. It was like crossing over into another dimension, a leap through space and time.

The house was exactly as he remembered. Every step held memories. Every picture, every piece of furniture… Jack stopped suddenly.

“What’s wrong, Jack?” his Mom asked.

“The box is gone,” he said.

“What box?” Mom asked.

“There was a small gold box that he kept locked on top of his desk. I must have asked him a thousand times what was inside. All he’d ever tell me was ‘the thing I value most,'” Jack said.

It was gone. Everything about the house was exactly how Jack remembered it, except for the box. He figured someone from the Belser family had taken it.

“Now I’ll never know what was so valuable to him,” Jack said. “I better get some sleep. I have an early flight home, Mom.”

It had been about two weeks since Mr. Belser died. Returning home from work one day Jack discovered a note in his mailbox. “Signature required on a package. No one at home. Please stop by the main post office within the next three days,” the note read.

Early the next day Jack retrieved the package. The small box was old and looked like it had been mailed a hundred years ago. The handwriting was difficult to read, but the return address caught his attention.

“Mr. Harold Belser” it read.

Jack took the box out to his car and ripped open the package. There inside was the gold box and an envelope. Jack’s hands shook as he read the note inside.

“Upon my death, please forward this box and its contents to Jack Bennett. It’s the thing I valued most in my life.” A small key was taped to the letter. His heart racing, as tears filling his eyes, Jack carefully unlocked the box. There inside he found a beautiful gold pocket watch.

Running his fingers slowly over the finely etched casing, he unlatched the cover. Inside he found these words engraved:

“Jack, Thanks for your time! -Harold Belser.”

“The thing he valued most…was…my time.”

Jack held the watch for a few minutes, then called his office and cleared his appointments for the next two days. “Why?” Janet, his assistant asked.

“I need some time to spend with my son,” he said. “Oh, by the way, Janet… thanks for your time!”

http://www.inspirationpeak.com/cgi-bin/stories.cgi?record=144

20-simple-ways-to-get-happy — Readers Digest

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Happiness is ephemeral, subject to the vagaries of everything from the weather to the size of your bank account.

We’re not suggesting that you can reach a permanent state called “happiness” and remain there. But there are many ways to swerve off the path of anxiety, anger, frustration, and sadness into a state of happiness once or even several times throughout the day. Here are 20 ideas to get you started. Choose the ones that work for you. If tuning out the news or making lists will serve only to stress you further, try another approach.

1. Practice mindfulness. Be in the moment. Instead of worrying about your checkup tomorrow while you have dinner with your family, focus on the here and now — the food, the company, the conversation.

2. Laugh out loud. Just anticipating a happy, funny event can raise levels of endorphins and other pleasure-inducing hormones and lower production of stress hormones. Researchers at the University of California, Irvine, tested 16 men who all agreed they thought a certain videotape was funny. Half were told three days in advance they would watch it. They started experiencing biological changes right away. When they actually watched the video, their levels of stress hormones dropped significantly, while their endorphin levels rose 27 percent and their growth hormone levels (indicating benefit to the immune system) rose 87 percent.

3. Go to sleep. We have become a nation of sleep-deprived citizens. Taking a daily nap or getting into bed at 8 p.m. one night with a good book — and turning the light out an hour later — can do more for your mood and outlook on life than any number of bubble baths or massages.

4. Hum along. Music soothes more than the savage beast. Studies find music activates parts of the brain that produce happiness — the same parts activated by food or sex. It’s also relaxing. In one study older adults who listened to their choice of music during outpatient eye surgery had significantly lower heart rates, blood pressure, and cardiac workload (that is, their heart didn’t have to work as hard) as those who had silent surgery.

5. Declutter. It’s nearly impossible to meditate, breathe deeply, or simply relax when every surface is covered with papers and bills and magazines, your cabinets bulge, and you haven’t balanced your checkbook in six months. Plus, the repetitive nature of certain cleaning tasks — such as sweeping, wiping, and scrubbing — can be meditative in and of itself if you focus on what you’re doing.

6. Just say no. Eliminate activities that aren’t necessary and that you don’t enjoy. If there are enough people already to handle the church bazaar and you’re feeling stressed by the thought of running the committee for yet another year, step down and let someone else handle things.

7. Make a list. There’s nothing like writing down your tasks to help you organize your thoughts and calm your anxiety. Checking off each item provides a great sense of fulfillment.

8. Do one thing at a time. Edward Suarez, Ph.D., associate professor of medical psychology at Duke, found that people who multitask are more likely to have high blood pressure. Take that finding to heart. Instead of talking on the phone while you fold laundry or clean the kitchen, sit down in a comfortable chair and turn your entire attention over to the conversation. Instead of checking e-mail as you work on other projects, turn off your e-mail function until you finish the report you’re writing. This is similar to the concept of mindfulness.

9. Garden. Not only will the fresh air and exercise provide their own stress reduction and feeling of well-being, but the sense of accomplishment that comes from clearing a weedy patch, watching seeds turn into flowers, or pruning out dead wood will last for hours, if not days.

10. Tune out the news. For one week go without reading the newspaper, watching the news, or scanning the headlines online. Instead, take a vacation from the misery we’re exposed to every day via the media and use that time for a walk, a meditation session, or to write in your journal.
11. Take a dog for a walk. There are numerous studies that attest to the stress-relieving benefits of pets. In one analysis researchers evaluated the heart health of 240 couples, half of whom owned a pet. Those couples with pets had significantly lower heart rates and blood pressure levels when exposed to stressors than the couples who did not have pets. In fact, the pets worked even better at buffering stress than the spouses did.

12. Scent the air. Research finds that the benefits of aromatherapy in relieving stress are real. In one study people exposed to rosemary had lower anxiety levels, increased alertness, and performed math computations faster. Adults exposed to lavender showed an increase in the type of brain waves that suggest increased relaxation. Today you have a variety of room-scenting methods, from plug-in air fresheners to essential oil diffusers, potpourri, and scented candles.

13. Ignore the stock market. Simply getting your quarterly 401(k) statement can be enough to send your blood pressure skyrocketing. In fact, Chinese researchers found a direct link between the daily performance of the stock market and the mental health of those who closely followed it. Astute investors know that time heals most financial wounds, so give your investments time — and give yourself a break.

14. Visit a quiet place. Libraries, museums, gardens, and places of worship provide islands of peace and calm in today’s frantic world. Find a quiet place near your house and make it your secret getaway.

15. Volunteer. Helping others enables you to put your own problems into perspective and also provides social interaction. While happy people are more likely to help others, helping others increases your happiness. One study found that volunteer work enhanced all six aspects of well-being: happiness, life satisfaction, self-esteem, sense of control over life, physical health, and depression.

16. Spend time alone. Although relationships are one of the best antidotes to stress, sometimes you need time alone to recharge and reflect. Take yourself out to lunch or to a movie, or simply spend an afternoon reading, browsing in a bookstore, or antiquing.

17. Walk mindfully. You probably already know that exercise is better than tranquilizers for relieving anxiety and stress. But what you do with your mind while you’re walking can make your walk even more beneficial. In a study called the Ruth Stricker Mind/Body Study, researchers divided 135 people into five groups of walkers for 16 weeks. Group one walked briskly, group two at a slow pace, and group three at a slow pace while practicing “mindfulness,” a mental technique to bring about the relaxation response, a physiological response in which the heart rate slows and blood pressure drops. This group was asked to pay attention to their footsteps, counting one, two, one, two, and to visualize the numbers in their mind. Group four practiced a form of tai chi, and group five served as the control, changing nothing about their lives. The group practicing mindfulness showed significant declines in anxiety and had fewer negative and more positive feelings about themselves. Overall they experienced the same stress-reducing effects of the brisk walkers. Better yet, the effects were evident immediately.

18. Give priority to close relationships. One study of more than 1,300 men and women of various ages found that those who had a lot of supportive friends were much more likely to have healthier blood pressure, cholesterol levels, blood sugar metabolism, and stress hormone levels than those with two or fewer close friends. Women, and to a lesser extent men, also seemed to benefit from good relationships with their parents and spouses. Studies also find that people who feel lonely, depressed, and isolated are three to five times more likely to get sick and die prematurely than those who have feelings of love, connection, and community.

19. Take care of the soul. In study after study, actively religious people are happier and cope better with crises, according to David Myers, Ph.D., a professor of psychology at Hope College in Holland, Michigan. For many people faith provides a support community, a sense of life’s meaning, feelings of ultimate acceptance, a reason to focus beyond yourself, and a timeless perspective on life’s woes. Even if you’re not religious, a strong spirituality may offer similar benefits.

20. Count your blessings. People who pause each day to reflect on some positive aspect of their lives (their health, friends, family, freedom, education, etc.) experience a heightened sense of well-being.

http://www.rd.com/health/20-simple-ways-to-get-happy/
 

Contributed by Ramya Iyer

Don’t let the moment pass!

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This is an article which really shook me up. Please read and reflect!

A man sat at a metro station in Washington DC and started to play the violin; it was a cold January morning. He played six Bach pieces for about 45 minutes. During that time, since it was rush hour, it was calculated that thousands of people went through the station, most of them on their way to work.
Three minutes went by and a middle aged man noticed there was musician playing. He slowed his pace and stopped for a few seconds and then hurried up to meet his schedule. A minute later, the violinist received his first dollar tip: a woman threw the money in the till and without stopping continued to walk. A few minutes later, someone leaned against the wall to listen to him, but the man looked at his watch and started to walk again. Clearly he was late for work.
The one who paid the most attention was a 3 year old boy. His mother tagged him along, hurried but the kid stopped to look at the violinist. Finally the mother pushed hard and the child continued to walk turning his head all the time. This action was repeated by several other children. All the parents, without exception, forced them to move on.
In the 45 minutes the musician played, only 6 people stopped and stayed for a while. About 20 gave him money but continued to walk their normal pace. He collected $32.00 When he finished playing and silence took over, no one noticed it. No one applauded, nor was there any recognition.
No one knew this but the violinist was Joshua Bell, one of the best musicians in the world. He played one of the most intricate pieces ever written with a violin worth $3,500,000 dollars.
Two days before his playing in the subway, Joshua Bell sold out at a theater in Boston and the seats average $100.
This is a real story. Joshua Bell playing incognito in the metro station was organized by the Washington Post as part of an social experiment about perception, taste and priorities of people. The outlines were: in a commonplace environment at an inappropriate hour: Do we perceive beauty? Do we stop to appreciate it? Do we recognize the talent in an unexpected context?
One of the possible conclusions from this experience could be: If we do not have a moment to stop and listen to one of the best musicians in the world playing the best music ever written, how many other things are we missing.

http://www.nativevillage.org/Editorials/a_most_interesting_story.htm

 

Contributed by Ramya Iyer

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