Its your money

Friday, June 23, 2006

From socialist to capitalist

I was raised in a socialist country where money was associated with dishonesty and exploitation. Ofcourse during that time in my country the only way you could make money was dishonest way. Things changed when my country was exposed to capitalism and free market. I feel myself fortunate compared to my parents who did not have the advantage of free market. Although they wanted to make money for the better future of their kids but they were not ready to adopt the means required for that. So they chose the saving money route to make money. They taught me that saving one dollar is not making one dollar as the saying goes but saving one dollar is equal to making 1.25 dollar, assuming 17% income tax and 8% sales tax.

After taking a degree in computer science I came to USA. I was making a decent amount of money working for a big software company. So far I was not very money conscious, reason being I had none. As I started getting money I had to do some thinking on what to do with it. Although my mind worked for a software company, my heart was in films. I used to think that making movies takes money so I had to save money for making movies. I wanted to earn a lot of money as soon as possible so that I could retire early and then could start making movies. It was naive on my part to think that for making good movies I needed money. It turns out that talent is a more important pre-requisite for making good movies and I just wasn't talented enough.

I learnt many lessons with this episode. Firstly that we all have some quixotic dreams and most of us over estimate our capabilities to achieve them but in the end we have to come home to harsh reality. Secondly I realized the importance of money and I increased my MQ, the money quotient.

This blog is an attempt to document my journey to become a millionaire. I will share my strategies and methods with all my readers so that they can also take advantage of them and share their experiences, strategies and methods with me.

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