Financial Security: Necessary Today More Than Ever

I believe you will be equally stunned as I was to read the article in link below.

http://money.cnn.com/2009/03/16/pf/Financial_security_rules.moneymag/index.htm

The very thought of retirement and the challenge to accumulate that huge retirement sum gives me shivers, given the ever escalating expenses.
Accept it or not, your boss, the government, the economy and everybody else decides your retirement amount.I discovered early on in my career that no matter how much efforts I put at my job, my rewards are going to be decided by someone else.I need to have the power to decide what my rewards should be for my efforts.
While I was in Japan 5 years ago, a friend introduced to me Robert Kiyosaki's book Rich Dad Poor Dad and my world changed after that.I had bought an apartment in an upcoming Mumbai suburb sometime ago and was proud of having my own apartment.
After reading RDPD, I realised that my house was not my asset but a liability. An asset is something which puts money into your pocket while a liability takes money out of your pocket. According to Kiyosaki, if your house is your biggest investment you are in for real trouble. But that is what the working class does.As their incomes rise, they go for bigger cars, bigger homes to be more comfortable.I learnt that the lack of financial education and the way they think is the reason why the poor and middle class are where they are.
As you look back, probably the subprime crisis could have been minimised,if not avoided, if people who bought homes beyond their repayment capacities had been financially literate.
To become rich,you need to learn to make money work for you.Of course, being an investor like Warren Buffett helps you do that.But how many retail investors actually understand the investments that they are putting their money into.So they put all their money into Mutual funds or Stocks on other people's recommendations.A little effort on self learning and understanding your investments can go a long way in protecting your hard-earned money.
The fastest way to become rich is to move from being an employee (E) or self employed (S) to being a business owner (B). While I was thinking on this and exploring entrepreneurial books, I met a senior management professional through a common friend who introduced me to the direct selling business.
Before I read RDPD, I was really against direct selling and looked down on this business as below my calibre.But after listening to CDs of the likes of Hal Neuball, a Harvard medical graduate, Professor at John Hopkins and a Nobel prize nominee,I realised that I have to raise my calibre to do this business.In this business, I have to raise myself to achieve not only my personal goals but help other people to achieve theirs.In today's challenging times, when people are losing jobs, families and lives, this business is a godsend lifeguard. The essense is to build the business when you are not in dire need. There are innumerable stories of professionals like us who have retired Rich and Young, something which most people only dream of.Anyone building this business seriously can retire in 5 years and build a financially secure income for generations to come.
Before I end let me give you a few points to ponder on:
1. We have backup for everything at our jobs, what is the backup we have for our job income?
2. If we lose our jobs or are not able to work for the next 6 months or 1 year, will we able to support our families or have the same lifestyle ?
3. Even if I am the CEO of my company, I cannot give my job to my children.So what are we putting them into, an endless rat race ? We cannot leave our jobs for our children.
4. A recent economic data says 95% of the world population doing jobs shares 20% of the world's wealth while the remaining 80% is controlled by the wealthy 5%. Imagine all the office stress, politics and race to finish first is for just 20%?
Friends, Lets get a bit wiser and start our journey to the 80% wealth today.

Where is Nifty/Sensex headed in short term?

Today the Sensex closed at 15378.96, with a gain of 147.92 and Nifty at 4568.55 with a gain of 44.80, which brings us to an interesting point. If Sensex and Nifty are able to clearly break out the earlier levels of 15580 and 4689 respectively next week, the bullish phase is bound to continue.
However RIL Q1 net is down by 13%; experts expect the stock to correct on Monday. Since RIL is a major contributor to the Sensex and Nifty, I see a correction happening next week, which slims the chances of bull run continuing.More so I expect the SENSEX to be in a trading range between 13500 and 15500. and Nifty to be between 4000 and 4600. However individual IT, Infra , Metal stocks, especially midcap stocks may continue to go higher till the earnings season is on.

Disclaimer: No one can accurately predict the market 100% of the time. The above is purely my view, please do your due diligence before taking any action.Happy trading !