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Sandeep Mall 

15 Oct, 10 tweets, 2 min read

As so many people reading The Psychology of Money these days, I thought I will share what I have done since the years. I am neither a financial advisor nor our goals and ways can be same. But I believe general values remain same

1. I have always lived well below my means. When I migrated here and had a meagre salary, never asked for money from my family which was well to do.We don’t pull out of wealth to live. Remember if u buy iPhone 12 pro you may look rich but u will be less wealthy by 1.3 Lacs.

2. I am averse to debt. Except for taking loan for buying one house to live I keep debt away. That also was repaid as fast as possible. No loan for more real estate investment or personal expenses or holidays.

3. I have inherited a strong habit of savings from my family. Our savings rate is very high. At times frugal living. Not that we don’t love or buy nice stuff or live comfortably. I have been saving from my first salary certain percentage and living life with rest.

4. I try to balance my portfolio. Have always done myself but last few years fund managers do it. Though I feel I can do a better job then them many times. I don’t think most portfolio managers even invest in their own schemes. I divide my portfolio in this way

1. 30% is on businesses I run
2. 15% is on fixed income low interest zero risk
3. 15% is in stocks and MF
4. 15% in FA to earn rental
5. 10% in Bullions
6. 15% liquid and cash.
Diversified portfolio helps me balance ups and down.

As I said earlier we save a lot because we don’t spend on things we find useless. It’s just our way. My wife has never purchased a Re jewellery in 30 years of marriage, we don’t stay in expensive hotels during holidays. We prefer to spend on experiences.

All my savings have been long term. I don’t think I have ever encashed any of my savings to meet expenses. Health cost for every one is covered with large insurances. Not being forced to sell investments means the compounding of savings works for longer period of time.

The best way to create wealth is to let money compound. You will fail 9/10 times trying to earn fast money or copying someone else. You can afford to not become the greatest investor but can’t afford to be a bad one. Everyone will have their own goals and ways

But basic values will not change - high savings rate, patience, low debt, a safety fund for unwanted emergencies, and living for self. Spending money to show people how much money u have is fastest way to lose money. Understand difference between Rich and Wealth.

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More from @SandeepMall

Sandeep Mall 

@SandeepMall

20 Sep

Take a moment. Imagine yourself 25 years from now. Some of u would be retired. Some of u might be visualising urself enjoying at a holiday home with family. Some maybe CEO of a corporate or a high flying entrepreneur. Some as political leader or religious guru. 1/6

Your goals and aspirations may differ but am sure nobody paints themselves as obese, someone who can’t bend to tie their shoes. Someone so frail that getting up from a chair becomes a Herculean task. Yes as you age your hairs will thin, u will have wrinkles,2/6

your steps aren’t quiet springy, but imagine no wheelchairs, no canes. Whatever u r doing, u r doing with the energy of someone half ur age. Your body isn’t standing on your way. How am I so sure? Because I am living, breathing proof..3/6

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Sandeep Mall 

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19 Sep

Let me share an incidence when technology takes over common sense this is what happens. Tell me what precautions will you take to prevent such type of errors and losses.

So a washer was needed for an assembly.The cost of the washer is Rs.3. The buyer by error made the PO in SAP for 300 Rs which he later blames on keyboard malfunctioning. The PO goes for approval to Sr Manager and in their busy schedule they never bother to check them and approve.

The PO then automatically is mailed to vendor. Understand this assembly is worth over 20L and the washer is not even there in audit list as it’s a cheap commodity. The vendor is over smart and he starts sending his supplies at 300 Rs.

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29 Jul

I study a lot on fitness related things and it has been my bad that I never studied about breathing. Thanks to the Chinese virus everybody now is talking of breathing. And this led me to do some reading about it. I read somewhere that respiratory health is directly related ...

...to Covid survivors. Breathing for us is a passive action. We just do. The day it stops we die. How we breathe is important for our health, longevity and happiness. I have been following correct breathing techniques for last few months and see a huge improvement. ...

.. My sleeping patterns are much better. I am 80-90% time in deep sleep. My RHR is improving further. I have got much better in my running. My energy levels through out the day are very good. Here are some pointers

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Sandeep Mall 

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9 Jul

15 ways to trains smart.
1) Do less and do it better. By default we tend to do more if we are not seeing results. Don’t overtrain.
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..but free weights use stabiliser muscles to engage. Prefer dumbbells, barbells, kettlebells over machines.
3. Prefer compound exercises more than isolation ones.
4. Set a goal - you should be aware if u want to gain size or endurance.
5. Set a schedule - Aim to work ...

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6. Don’t train the same muscle group on simultaneous days. Recovery is very important.
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Sandeep Mall 

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7 Jun

Five lessons Babuji ( Grandpa) taught
1. No matter how yesterday went, remember that every new day is a new opportunity. You can't rest on yesterday's accomplishments, and you never have to repeat yesterday's mistakes.

2. Spend as much time as you can with the people you love. Your spouse, your kids, your parents, your close friends-whoever they are-make sure that you find lots of time to spend with the people you truly care about.

3. Work hard. You can't always determine what you get out of something, but you can often control what you put into it. कर्म करो , वही तुम्हारे हाथ में है।

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Sandeep Mall 

@SandeepMall

14 May

The only way to revive economy is to increase consumption. Money should go to people so they can spend. Till the time buying does not happen, economy can not grow.

Proactive measures should be taken for ease of doing business. Too much mistrust and compliances. With every buying selling recorded in GST portal, government has complete balance sheet anyways. AI softwares can detect malpractices.

It takes me 1 min to crack leakage looking at my monthly MIS. And that too manually. Will never be difficult for govt. with software support. Let entrepreneurs spend time constructively and not doing non pro ductile filings.

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