Fortune Watch

Living in mansions and driving BMWs was never my passion. But right from my childhood I wanted to be rich enough to fulfill my small but expensive desires like having a Rolex watch on my hand or drive in a Toyota Camry. But as I grew and saw the world advancing, I slowly began to understand the meaning of a very old saying that “only if you aim for the sky, you will land among the stars.” And that applies for almost every living soul on earth.

Becoming a millionaire is one dream that people see with open eyes and spend their life toiling to reach their goal of being counted amongst the rich people of the world. There are those who succeed, but many are pulled back by the others in the race. But there is an interesting intermediary class of people who the world calls the ‘pretenders’. Any guesses why? Because no matter how hefty their debts are, they never compromise on their social status. But here is a piece of advice for such people, “Stop Acting Rich . . . and Start Living Like a Real Millionaire.”

A former university professor and the co-author finance books like “The Millionaire Next Door”, Thomas J. Stanley has once again shared his experience of examining the truly rich people in his book, “Stop Acting Rich . . . and Start Living Like a Real Millionaire.” (Wiley, $17.79). The author highlights that the credit, recession and crisis have presented us with the opportunity to treat and cure the pretenders.

“For the treatment to work, you must take a cold hard look at your balance sheet and at your life, and determine if you would be wealthier if you would stop acting rich,” he writes.

Stanley has bought very interesting facets of the life of real millionaires and the ones trying to emulate them. He points out at the major difference between the income and net worth and explains what counts to be a true millionaire. Some quite intriguing findings of his study include:

• 86% percent of all prestige or luxury makes of motor vehicles are driven by people who are not millionaires.
• Typically, millionaires pay about $16 (including tip) for a haircut.
• Nearly four in 10 millionaires buy wine that costs about $10.

His only aim behind the research is to make people aware of a very simple truth of life that only if people stop acting rich, they would be able to achieve the kind of happiness money can’t buy.

“For the treatment to work, you must take a cold hard look at your balance sheet and at your life, and determine if you would be wealthier if you would stop acting rich,” he writes.

The realistic book will help people get closer to reality, that pretending will never bring contentment or the real joy. Only accepting the fact that acting rich is far away from actually being truly wealthy will help them find the bliss of happiness.

YOU DO THE MATH!
Purchasing

The math on the Paul McCartney-Heather Mills divorce is as follows:

After 5 years of marriage, he paid her $49 million. Assuming he had sex every night during their 5 year relationship it ended up costing him $26,849 per time.

This is Heather:

Leasing

On the other hand, Tiger Wood’s hooker, Kristen, an absolute stunner, charges $4000 per night.

This is Kristen:

What will the new decade bring for employment and career prospects? An interesting set of statistics posted by the Bureau of Labour offers some insight into trends and provides information on where career and business opportunities might lie.
1) Management and consulting services

Leading the list of five industries with the largest wage and salary employment growth potential in the ten years from 2008 to 2018 is the category of management, scientific and technical consulting services.

The sector falls under professional and business and could see an increase of 82% in employment figures. It will certainly prove to be the decade for consultants and professional advisors.

2) Services for the elderly and persons with disabilities

There is no prize for reckognising this as a growth area for employment. This field, falling under health care and social assistance, is considered to grow by 73% in providing employment and business opportunities.

With the ageing population in almost all parts of the world, it is not difficult to see that providing care for elderly people will be a substantial growth industry. Furthermore, as civilisations become more aware of the rights of disabled people, this in turn will lead to more inclusive care facilities for disabled people.

Besides the trend towards mainstreaming disabled people in schooling and the work environment there is a further push to allow disabled people to live independent lives. This particular trend will lead to a growth in the category described in number three.

3) Home health care services

Another winner in the health care and social assistance sector is the home health care service industry. This is considered to have growth potential of 46% for wage and salary employment.

Allowing the elderly to remain at home and providing assistance with care will become a more humane way of dealing with frail people. Add to this the care of disabled people at home rather than at institutions and one can see this sector could be in for a growth in employment opportunities.

4) Computer system designs

Systems design and related services falling under professional and business sector is considered a growth area in terms of wage and employment and is said to be growing by up to 45% in the period under discussion.

Technological innovation will provide for a large scale requirement for computer systems. Every gadget has a computer chip and operating system. Designing these will allow for more employment. Could it mean that computer science should become a compulsory subject in schools?

5) Retail trade

The retail trade may be growing and showing an increase in wage and employment opportunities of 40% during the term under discussion. Some of this growth could be diversified though in that the retail sector is showing particular growth in the online environment.

Some parts of retail will migrate more towards the computer system design skills set and move away from stacking shelves and ringing up goods on a cash register. Either way, retail will employ more people.

These are some interesting trends and it might be advisable for young people and members of the older generation finding themselves without traditional jobs to focus on acquiring skills in any of the above industry sectors.

It’s not really a surprise to see Abu Dhabi hand over another bunch of dollars to its wayward relative Dubai. It had to be so; it was just a matter of time. The bailout or handout or whatever one wishes to call this latest transfer of money was necessary to shore up the reputation of the Emirates.

Dubai Metro

It’s the second time that Dubai has had help from it’s more conservative and wealthier neighbour. In February 2009 Abu Dhabi pledged $10 billion to prop up the ailing Emirate in a move to assist Dubai’s $20 billion long-term bond program. The Central Bank of the UAE bought up the first tranche of the bond issue.

The highest Tennis court in the world

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Just before Christmas scores of people feel compelled to write lengthy articles, present lectures, compile videos for YouTube and in general create hot air about the topic of excessive Christmas gift buying.

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Some pontificate about this subject throwing clever economic theories about and others tug at emotional strings while further proponents try to reason that Christmas gifts are a waste of money because most people hate the ones they get.

They certainly have a point. The shopping malls hum at their busiest just after Christmas when people come in to exchange their unwanted gifts.

So why do it?

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Easy answer really. It’s all about guilt. Parents showering their children with gifts do this because they feel guilty that they don’t show their love and caring enough. Adult children give gifts to parents because they feel guilty that they don’t show their love and caring enough. Husbands give their wives gifts because… You get the drift of the argument here.

If this is the reason for the excessive gift season, how did it get so out of hand? Enter the advertising industry whose reason for existence is to ensure their clients sell more and more products.

Holidays based on emotional reasons such as Christmas, Valentine’s Day, Father and Mother’s Day, Teacher’s Day and most other man made public holidays are an advertising executive’s wet dream.
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Emotions and message. They work so well together. If you love your kids, parents, friends, auntie and any other folk you can think of then you have to buy that latest game, just launched designer label perfume, bit of jewelery or that cute little Ferrari.

The bigger the purchase the more perfect is your love. Not always of course. Sometimes   it’s the latest toy that causes the most obsessive gift purchasing quest. Many parents have felt compelled to shred their nerves chasing around the shopping malls to find that last Nintendo game, most recent Bratz doll or zebra striped iPod.

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For many businesses this period of gift feeding frenzy is the main income generating quarter. This is what keeps them going. Sure there are other times during the 12 month trading period where the flat-lining turnover figures show a blip of life, but it’s the Christmas trading period that provides the bulk of their trade.

Florists have a similar love relationship with Valentine’s Day. And chocolate manufacturers have jumped on the bandwagon of Easter for their rush of income. So why should shopping malls not similarly pursue the Xmas dollar.

That’s exactly what shopping malls are doing with great gusto. How else would it be possible for you to find the biggest decorated Christmas tree in an Arab country? And have you noticed how early in the year those Christmas decorations are put up and the cheesy jingles are played? October already.

In the end it’s truly a win-win situation. Business makes its money. Human beings get to calm their guilt feelings about how the stress and busyness of their lives forces them to neglect their friends and family during the year.  It’s a season of goodwill to all folk all round.

What is your take on this seasonal topic?