Sunday, October 28, 2012

Book Review: THE RULES OF WEALTH: RICHARD TEMPLAR: A Personal Code For Prosperity


The Rules of Wealth - Richard Templar: ||~~A~Personal~Code~for~Prosperity~~||

The Book: The book is from the international bestselling author of “The Rules of Life”. An imprint of Pearson Education (Prentice Hall) with a category that says – “Books that make you better”, that makes you to be better, do better, feel better. The Indian print costs Rs. 225/-.
The Book, Pages and me: The book goes in a smooth way and demonstrates (rather than educating) how to become rich. First step is to “Thinking Wealthy”. Next is “Getting Wealthy”, after that is “Get even wealthier”. Next step is “Staying Wealthy” and last is “Sharing Wealth”. The writer says anybody can make money – it is not selective or discriminatory. Money has no religion, no cast and no country. It has actually no bars, and belongs to no one. It is yours as long as you are holding it. Moment you release it, its owner changes.
Second Chapter says “Decide on your definition of Wealth” – have you ever tried thinking about what you think of WEALTH. Take a pen or pencil, and a blank sheet (or alternatively open word/ notepad in your computer) and try writing your definition of WEALTH. Note how clearly you are able to jot it down. You will be amazed that you are not clear in your mind about the right definition of WEALTH. How often you think about wealth. Will you try one more thing – write down on the same page your objectives of WEALTH. What you have or where you reach and you will call yourself WEALTHY. Was it difficult or easy, clear or required lot of thinking, probably it will become an eye opener for yourself how you define wealth and on what criteria you will call yourself wealthy.
Author says don’t share your goals or objectives with anyone so that you don’t give some to laugh at you or others to get a clue from you. Most people are too lazy to be wealthy - I will say otherwise – most people are not clear about their definition of wealth and their own goals or objective to fall in this category. Usually we see wealth with strange eyes, as if a wealthy person is an Alien and this guy has a special education, or talent to acquire wealth.
Understand your money beliefs and where they come from – author has given many categories and tells you to find out to which category you belong to – and ultimately tells you to come out of all those categories.
Understand that wealth is a consequence, no a reward- when you work hard to earn money and you earn it, don’t get so humble to accept it as a lottery or reward, acknowledge is a consequence of your hard work, smart work, and intelligent work. See wealth as a friend, not the enemy.
Decide what you want money for. Understand that money begets money
 – and that is true – the richer becomes richer and the poorer becomes poorer. That is the law of Wealth. If you see money as a solution, you’ll find it becomes the problem. Never for god sake think money as a solution to your problems, it will create more problems for you. If money was the solution – there would be no wealthy ill/sick person on this earth.
You can make lots of money, you can enjoy your job and you can sleep nightsIf you are starting to lost sleep or have stopped enjoying it, then you need to have a talk with yourself.
Don’t make money by being bad – If you don’t enjoy the challenge of earning money legit then best go and do something different. Money and happiness – understand their relationship – too little money can make you miserable, too much money can make you miserable, too much stuff can make you miserable, not having enough can make you miserable.
Know the difference between price and value. 
We think we know the price of something. But the value can spread out far beyond all of that.
Know how the wealthy think: Notice which paper they read, which sections they chose to read, which sections they discard, in which order they read their chosen sections. You may have to choose – MONEY or FRIVOLITY.
Don’t envy what others have – Envying then is pointless, learning from them is invaluable.
It is harder to manage yourself than it is to manage your money – 
The first thing to understand about yourself is – DO YOU HAVE WHAT IT TAKES TO BE WEALTHY?
This all is covered in THINKING WEALTHY.
GETTING WEALTHY
You have got to know where you are before you start
You have got to have a plan
Get your finances under control
Only by looking wealthy can you become wealthy – You need to look powerful and confident
If you don’t trust someone, don’t do business with them. 
Listen to your intuition, be the BIGGEST, BOLDEST AND BRAVEST
It’s never too late to start getting wealthy – it is also never too late to start investing – in shares, in a pension, in style, in quality, IN YOURSELF, IN LIFE.
Overall:
1.      
It is easy to read, difficult to understand. All difficult to understand books are not for everyone. Everyone need not be wealthy.
2.      
It is a journey, not a destination.
3.      
Author very clearly says in the beginning – note down on a paper your goals or objectives of your WEALTH and at the end of the book check for yourself if you have achieved them or not
4.      
READING THIS BOOK requires a transformation within – in your thinking, in your style, in your goals.
5.      
I found the different between RICH and WEALTH after reading this book.



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