Procrastination - Project 3 - CC Manual

Procrastination :

Today, I am standing in front of you is because of Procrastination.

One of our fellow Toast Master who was scheduled to do a Project Speech has probably thought why to give a speech today and has procrastinate it due to some reason and I got the opportunity.

Mark Twain said : Why put off today what you can put off again tomorrow.

Dear Toastmaster of the day, fellow TM and welcome guest … Good Evening.

The best part about Procrastination is that you are never bored because you always have number of tasks that you should be working on.

Pro....................cras......................ti.......................na...................tion. It is such a long word that we even want to put it off saying it. (But we don’t mind practicing it).

In a simple form … Procrastination means putting off till tomorrow what we can do today. 

Everyone in this room knows about it but we still don’t want to act upon it because many of us including me are suffering from this habit of procrastination. The fact is 9 out of 10 individuals do procrastinate. This habit is a villain for our success. It is the unsuspecting sneak which upsets every plan which is connected to Time management. Look at my case … I joined TM with such an enthusiasm that I will finish off my CC in an years time …. 2 projects done immediately after joining and than one fine day I was influenced by the habit of Procrastination. In the bargain, Who is at loss? I missed out on so many opportunities like becoming TMOD / Evaluator in any of our meeting. The whole purpose of joining Toast Masters is at LOSS.

Now the interesting thing about procrastination is that we tend to put off those task which seems to be unappealing to us. If the task is boring or monotonous or involves too much of hard work it stands a good chance of getting postponed.

It is not because of lack of time that we do not do the task. On the contrary we do have plenty of time to do it but we tend to postpone it and justify ourselves with the lame excuse that we do not have time.

Take an example of exercising daily. How many of us do exercise daily. Probably few !!! But many of us conveniently procrastinate it as exercising needs lots of effort and discipline.

A friend of mine the other has started giving an example that he can't do exercise because he can't get up early in the morning. He has given me excuse which has made me laugh .... He said : " He has never seen Sun rising in the morning …. It is the other way round where Sun always sees him rising every morning .  Where is the connection of Sunrise with exercises. If you can't exercise in the morning do it in the evening. 

Bottom line is we don’t exercise not because we don’t have time but we are lazy and influenced by procrastination.

Procrastination also affects Financial Planning which is often perceived as something that involves “tomorrow”. A “tomorrow” mindset invites procrastination. 

It is only because WE Procrastinate.

    We  don’t start saving soon enough

    We don’t plan long enough.

However there are some problems that arise out of Procrastination that are detrimental to time management which is negative as a Results of Procrastination:

-       A feeling that a job has been left undone is bad for our morale.

-      Unfinished jobs leave a lot of clutter which affects our efficiency.

-      Putting things off means jobs accumulate and needless panic set in.

-      Procrastination may be synonymous to some people with laziness and lack of interest in the job.

-      The job becomes more unpleasant the more you postpone it.

Friends ... there are some jobs that we put off for tomorrow, a tomorrow that never comes.

The chances are that you will be busier tomorrow than you are today. Most of those jobs that we procrastinate are the “the – sooner – done – the better kind”.

And the SIGH of relief from our Lungs that once the job is done and over … is worth it.

All it takes is some WILL power. Make up your mind to do the task and do it while your mind is still made up.

My dear friends so if you are also a victim of this dangerous habit and if this is  affecting your overall health Physically or Financially  the normal rational response is to take a corrective action NOW.

Because once the physical or financial loss is incurred we cannot do anything but pray for the minimal losses. The opportunity cost of losing health / money because of a lazy/late decision compounds against us forever.

Given these perspectives, no one for themselves or their future generations – can afford to have a the luxury of procrastinating. The time for planning and acting is NOW.

Procrastination is the Stealthy killer of Success.

Let us all decide to write 3 important things which we have been postponing / hesitating to do and make a conscious effort to complete it immediately.

Over  to Toast Master Of Day ....  

Radio Show - 24/10/2010 with RJ Karishma on CITY 101.6 on Financial Planning

Dear All,

It was a great moment of pride and accomplishment when i got an opportunity to speak on Radio with RJ Karishma on her show " Bend it like City" on the subject of Financial Planning.
From a long time i was looking out for some contact to introduce me to Radio Station. Thanks to Toastmaster - dubai chapter wher i have met with RJ Rohit Jayakaran who also does a Show on CITY 101.6 by the name Drive Master GO GO".
Rohit was a very down to earth very simple man and very polite to listen to me on what i specialiaze on and ask me to forward my CV to him on his email id.... which i did.
2 days back a call came from Mr. Alakesh Kalgutkar that i am schedule to talk on the Radio on 17th with RJ Karishma on Bend it Like City and i was on Cloud 7.... with this news.
A beautiful voice which we hear everyday while driving called me to reconfirm the interview she actually spoke to me for 7 minutes on how to go about it.
Then comes the 'D' Day and i was quite nervous and stomach was having butterflies and i started actually 2 hours before the scheduled time .. since the Radio station was quite far off from my residence. I reached the office on 10:35 AM and waited in the reception. It was exactly 11:00 AM .. Karishma walked out o the studio and wscorted me to her studio.
She asked me relax and then started talking with some icebreaker questions and then leading me to how and what kind of questions she will be throwing on the radio for the listeners to make it more interesting.
The interview went smoothly where she has given me 3 clippings of approximately 2 minutes as our subject was quite interesting.
Overall the whole of my day went very nice as i felt i am heading one step ahead of my Goal to come on a Television withn 5 years of time.
Hope you all enjoy my diary page of 24/10/2010 ... a historic day in my life.

Click the link below to listen to the Interview.
http://www.city1016.ae/?p=3814

Aadil Kadri
Certified Financial Planner

If you died tonight, what will your family do?‏ - Comments on Critics for this Topic

Thanks for your input. It is quite interesting to know the other side of subject. I fully respect your point of view. I do not have a religious knowledge, authority or a convincing power to change your point of view or anyone's who is of the same opinion.
Due apologise if my points as a professional hurt the feeling of individuals personally or religiously. I would like to only discuss the subject in a layman’s way of understanding using my commonsense. May ALLAH forgive me for my SINS.
“It is absolutely a matter of Individuals CHOICE that how he/she would like the surviving family members to live a life after an unforeseen circumstances happen”.
Yes, I do second an opinion on the point of Educating the community member to such an extent, so that they can stand up to the position that they become independent. We have seen lots of community Trust and our Buzurgane-deen are also doing a great and wonderful job by encouraging and giving money to the deserved student from “Taalimi fund” with No interest. Even banks help to a great extent by subsidizing the rates of interest.
Now the issue is after education individuals set their own Standard of Living or Lifestyle and they keep striving hard either to maintain it or improve upon it.
In this jet age of speed and discoveries of modern medicine either the person die young or live too long (but with lots of medical issue).
Both the situation needs MONEY (unfortunately)…..to continue with a same standard of living.
Now the source of income to get this money could be either of the following :
1. Spending from current savings.
2. Housewife / husband starts a full time job.
3. Asking help from friends / relatives.
4. Asking from a Charity. ( Community Leaders)
5. Protecting Life Styles. ( Insurance )
In this era Joint family concept has become a History. People used to see the Joint families as a wonder of the world,. Nuclear family is a talk of the town. Parents and children’s – even 2 brothers live in different houses in spite of living in the same city. This all has really affected the bonding and love amongst each other. Cost of living is such that even D.I.N.K (Double Income No Kid) family's live month on month with only pay check and a small amount to save.
So again we have to decide where would we like our family to get the money from ????????????
“It is absolutely a matter of Individuals CHOICE that how he/she would like the surviving family members to live a life after an unforeseen circumstances happen”.
We can only pray to ALLAH that may such day / situation does not come in any one’s life but the fact remains as a fact.
Everyone has to Die … Ratio is 1:1 and the medical statistics shows that Every 1 out of 3 will be suffering from Critical Illness before the age of 65 years …. Ratio 1:3. Thanks to modern medical inventions which we still are unable to make out that is it a boon or curse???
We invest in lotteries / raffle coupons (while shopping ) where the probability is 1in 10000’s and pray to ALLAH for our chance.
But we do not think or work on the sure shot or closest probability.
We in the financial planning industry cannot protect lives neither can we save life – medically ( we are not doctors) but we try to protect lifestyles (standard of Living).
This implies that “Insurance is not because you will die …. But it is because they (family) will live.” Insurance money gives a deceased family a platform to start living a comfortable life.
We do not have a single case history where the Widow has come to an Insurance industry and said that we don't need this money .... because either my Community or my father or father-in-law or brother is going to take care of our lifestyles and all our financial needs. In fact almost all of them prefers to stay independently with whatever little savings and the insurance money. We call it – KHUDDARI …. Kyu kisi par bojh banu ???
We know lots of families even in our community who have taken a benefit of Insurance money in the past and they will second my point of view.
TAWAKKALTU ‘ALALLAH is not a only an expression …… One has to have a Firm belief and Perfect Reliance on HIM. But HE is also expecting all of us to make an effort towards it.
HE has promised us to give FOOD but we have to EARN IT with honesty and dignity. This is what we have heard from our elders.
We all should be practicing Muslims and not only muslims. Simultaneously, I also feel we have to see the practicality of the circumstances along with theoretical aspect of life and religion.
There is a saying " When we are in the desert ALLAH wants us to BELIEVE in HIM but also expect us to TIE the CAMEL" … because if he runs away we cannot blame HIM for our ignorance. HE has given us brain and an ability to THINK and this is the reason why we human beings are above all the living creatures of the world. ( i suppose )
You all will agree that there is a reason behind everything …. even the stranger meeting up with you has a reason behind it.
Whom do you think is introducing a Financial planner to you .... Many a times he ( financial planner) is coming to you as a stranger and talking to you about your Financial planning...... about the hard facts of your life (point to ponder). Don’t you think there is some GOOD reason behind it ????.
Yes …..It has its own reason. ALLAH must have planned a meeting between 2 strangers. In fact there is a reason even why we are talking on this subject today.
I would like to share an incident which came across during my routine business call / meeting.
I met with a gentleman during my work and we were talking about financial planning. Since he was not open to the subject of an insurance we have decided not to talk about it and we have started discussing about various other investment planning options. During the discussion in his house I saw a beautiful mini fish aquarium with lots of fish in it. Out of curiosity I asked him that how does he take care of it when he goes for a month to his home town. He said that his friend comes home cleans the aquarium and feed the fish. So I just said to him that don’t you think it is an INSURANCE in its own way. I have complimented him that it is a great thought that you see to it that the fish does not die which shows you are a responsible man making an arrangement for it.
He got the point and understood what I mean. Today he is my client who is contributing to an insurance plan.
The point to emphasize is “Tawakkultu alallah” is NOT only an expression ..... in fact that is the ONLY thing one should believe in ?
Planning for the unforeseen circumstances does not mean we are not believing in "Tawakkultu alallah".
ALLAH has given us an ability to think what is Good and what is bad for us and adhere to our conviction about the existence of ALLAH and HIS miracles. It is only because of HIS wish we are either planning or not planning. Without HIS wish nothing can move. I am sure everyone will agree to it.
Also we all agree money is not everything but unfortunately Money helps us to buy everything which is important and necessary......forget about the luxury.
So again we have to decide where would we like our family to get the money from ????????????. Refer the previous paragraph for the 5 options.
“It is absolutely a matter of Individuals CHOICE that how he/she would like the surviving family members to live a life after an unforeseen circumstances happen.”
I would like to conclude with a due respect and apologies to all the community member, if I have been blunt on putting the point across.
It is purely my opinion. Kindly use your own judgment and conviction to plan anything in context with the subject.
Feel free to further discuss in case of clarification.
Keep writing and Happy investing.

Modern Medicine changing the Game Plan

: Critical Illness : Modern Medicine Changing the Game Plan

Is medical advancement a boon or a curse ??
We are unable to answer this question. Let us discuss or shed some light on modern medicine and its impact on FINANCIAL PLANNING. One thing which I can promise is that after reading the whole article you will get an idea on how modern medicine is changing our lifestyle; the impact which it can have on our financial planning in the future. How Critical Illness insurance can be a life saving boat in Titanic world of investments and life insurance.
Few decades back in Cape Town, South Africa - Dr. Christiaan Barnard successfully performed the first human heart transplant surgery on 3rd December 1967. The patient survived for 18 days, succumbed to pneumonia and died. The next patient survived for 19 months.
Today, there are more than 55,000 heart transplant recipients worldwide and the average life expectancy of a heart transplant recipient has INCREASED to 15 years.
( Source : http://en.wikipedia.org/wiki/Heart_transplant)
Due to sedentary lifestyle , stress and eating habits today, the average age of a person experiencing the heart attack has come down from 40 years to 35 years. Also the average life expectancy has increased drastically from year 1900 to year 2000. An individual tend to live more but with lots of health related issue.

Life Expectancy in the year 1900
Male : 42 years
Female : 47 years

Life Expectancy in the year 2000
Male : 73 years
Female : 79 years
(Source: National Vital Statistics System – Life Expectancy table)

Medical science, during these past 100 years (1900 – 2000), has advanced and evolved tremendously; and so have the causes of death. A century ago illnesses which were considered dangerous and fatal are not significant anymore.

CAUSES OF DEATH – 1900
• Pneumonia 12%
• Tuberculosis 11%
• Stroke 6%
• Heart attack 5%
• Accidents 5%
• Infancy 4%
• Cancer 4%
• Others 53%
(Sources : Life Table 1900 – 1998)

MAJOR CAUSES OF DEATH (Present)
• Heart Disease 28.9%
• Cancer 22.9%
• Stroke 6.8%
• Alzheimer’s Disease 2.2%
• All others 39.2%
(Source : National Vital Statistics Report – 2003)

What are the main reasons that contribute to the major causes of Death (present) ?
 Stress
 Cholestrol
 Obesity
 Blood Pressure
 Diabetes

- STRESS : Stress is a major cause that leads to heart attack and cancer.
- CHOLESTROL : Do you know which is the largest selling medicine right now ? It is Lipitor, a medicine to control your cholesterol. People with high cholesterol run a 50% higher risk of stroke or heart attack before the age of 65.
- OBESITY : Obesity has reached epidemic proportions globally, with more than 1 billion adults overweight at least 300 million of them clinically obese - and is a major contributor to the global burden of chronic disease and disability.
- BLOOD PRESSURE : High blood pressure is the main risk factor for stroke and a major risk factor for heart attack, heart failure and kidney disease.
- DIABETES : Diabetes is the fourth leading cause of global death by disease.

Thanks to modern medicine we are living longer in spite of all these problems and life style changes.


Facts at a Glance / Some horrifying statistics :
- More than 2 out of every 5 die of cardiovascular disease. Today more than 1 in 5 die.
- 1 in 9 women will develop breast cancer at one point in their lives.
- In UK every 2 minutes someone meets with a heart attack.
- 1 in 2.4 men and 1 in 2.7 women will develop cancer during their life-time.
- 1 in 11 men and 1 in 18 women would develop lung cancer.


But than what happens to the person who suffered from the Life Altering / Life Threatening Diseases ???????????

???????????? Do they survive ????????????

##### The Good News is that … Yes they do survive.....

 Heart Attack : 75% of men will survive their first heart attack for 5yrs
 Stroke : 33% are left with serious disabilities, and the balance will recover.
 Cancer : 50% of Cancer patients will survive for a minimum of 5 yrs
 60% of women with breast cancer will survive more than 5yrs.
(Source: Munich reinsurance company 2005)

 Heart Attack : Estimated 1.1 million heart attacks in 1995.
    22% will not recover completely, 88% will be able to return to work.
 Stroke : 4 million survivors in the world today. Survival has increased almost 700% since 1950
 Cancer : 5 in 10 patients diagnosed with cancer this year are expected to be alive 5 years later.
(Source: American Heart Association – 1998)

It is a great news what modern medicine has done. Today we see more and more people surviving illnesses and diseases which were considered dangerous and fatal 50 years ago. We are living longer. We have been able to conquer some of the illnesses which were 100% fatal a few decades ago.
If someone had a heart attack 50 yrs ago, it was simple heart attack and he died. There was no financial planning required.
But today the situation is different. As we have seen, there is a high probability of someone being diagnosed with a critical illness, and then there is a very high probability of his survival.

Doctors will make sure the patient survives ...... and ......

###### the Bad News is that Survival comes with a HUGE cost.

• Loss of income – both incomes
• Change in Career
• Childcare
• Change in lifestyle
• Private duty nurse
• Home renovations

Do you Know !!!!!!!!!!!!!!!!!!!!!!


 Globally
• 1 in 3 people develop cancer sometime in their life1
• By 2010, another 1.5m people worldwide will be told that they have breast cancer
• Women have a 1 in 4 chance of suffering a critical illness between the ages of 30 and 65
• Diabetes is the fastest growing debilitation in the world2

Sources :1 Cancer Research 2(Abu Dhabi Health Authority 2007)

 In UAE
• The UAE has the 2nd highest rate of diabetes in the world
• Road accidents are the highest cause of death in the UAE
• Life expectancy is just 73.4 (men) and 74.5 (women) in the UAE*
• Cancer is the third leading cause of death in the UAE after cardiovascular disease and trauma
• 60% of UAE nationals are now clinically obese, with an estimated 1 in 5 children overweight.
Sources: *Abu Dhabi Health Authority 2007

More concerning statistics...
- The UAE's mortality rate for heart disease is 22 per cent1
- Road accidents in the UAE for the first half of 2009 have increased by 11.5 percent but fatalities dropped by 2.6 percent2
- Lung cancer stands as the fifth type of cancer across the UAE, with breast cancer in the lead, followed by colon cancer and then lymphoma/leukemia3
- “If you have a heart attack in this country, even in Dubai, then your chances of survival will be far below the average offered in more developed countries”4
- After the UAE, the next highest rates for diabetes occur in Saudi Arabia (16.7 percent), Bahrain (15.2 percent) and Kuwait (14.4 percent) 2
- Fifty percent of people with type two diabetes don’t even know they have it1
- In 2009, the suspected indicator is expected to be for every 100,000, 6.8 people will be killed in a road accident 2
- According to statistics, there is a 15 per cent increase in the number of accidents resulting from jumping red traffic signals2
- There is a significant increase of over 45 per cent in the number of accidents due to sudden swerving2
- More than 700 cases of cancer are diagnosed in Abu Dhabi each year3
Sources:
1 International Diabetes Federation,
2 Dubai Police Traffic Department
3 Abu Dhabi Health Authority 2007

Today more and more people are surviving these illnesses and living longer.

Think about it .............. !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

We have discussed about living longer, we have discussed how life expectancy has increase for the last 100 years, how causes of death have evolved from typhoid, cholera, malaria to Heart attack, stroke, cancer etc. We have discussed how advances in medical technology mean life-prolonging cures and operations are becoming increasingly available.
Is there anything which I can do about it ? !!!!!!!!
Let us look out for a solution called as “ Critical Illness Insurance”.

What is Critical illness Insurance ???
Critical Illness insurance is an indemnity insurance which pays the face amount of the policy to the insured in a LUMP SUM upon the diagnosis of specified illness
This was designed by Dr. Maurice Barnard, brother of Dr. Christiaan Barnard. Few illnesses which are normally covered in Critical illness insurance plan are :
1. Heart attack
2. Stroke
3. Life threatening cancer
4. By-pass surgery
5. Major organ transplant
6. Alzheimer’s disease
7. Multiple Sclerosis
8. Renal Failure
9. Paralysis
10.Deafness
11 Blindness

Why is it important for everyone to have a Critical Illness Insurance Plan?
Statistically, 1 in 4 men and 1 in 5 women will contract one of the illnesses covered by a standard Critical illness product before they reach age 65. The probability of suffering from cancer , heart attack and stroke etc. are very high and chances of survival have been consistently increasing. today, the average age of a person experiencing the heart attack has come down from 40 years to 35 years.
Life Insurance hopefully will take care of the family of a person in case of a death claim but those who survive long could potentially face severe financial hardship.
We have 80% of people losing their homes because of major illness and only 20% because of death.
Medical Insurance will hopefully take care of all the direct expenses of the Hospitals and Pharmacy bills. But the Lump sum money which comes upon the diagnosis of Critical Illness might help them to take care of liabilities and responsibilities of family.
If you suffer a serious illness, the medical profession will look after your physical recovery. Your friends and family will look after your emotional recovery. But who will look after your financial recovery? Having a Critical Illness Insurance can offset some of the financial stress and help an individual focus on recovery.
We have worked all our lives to provide a good living for ourselves and our family. We earn so that our family can live a comfortable life-style, children’s can go to a decent school, we provide them best home and all the comforts and love. Life insurance makes sure that in the event of premature death our families can continue enjoying the same standard of living that we are providing today.
But what if God is kind and we only die a little bit. We cannot go back to work anymore. What happens to the life style we and our families have become so accustomed to?

What is our most important ASSET ?
It is “ OUR ABILITY to earn an INCOME ”. We go to work to generate an income for ourselves and our family.
A critical illness plan protects THAT income. We need critical illness benefit NOT BECAUSE we are going to die but because we are going to LIVE !

What is the difference between health & medical insurance and a Critical Illness Benefit?
Your medical insurance pays for your ongoing medical expenses. A person meets with a heart attack; the medical insurance company will pay for all the covered expenses in the hospital.
Your critical illness benefit on the other hand is one time lump sum payment upon diagnosis of illness. It does not depend upon severity of the sickness. One could have a heart attack or cancer or stroke; the critical illness benefit will pay the entire amount, as long as, under the medical terminology it is classified as a critical.

So should we replace medical insurance with critical illness insurance?
Absolutely NOT. Both are different benefits. They complement each other.

How much is enough critical illness benefit ?
Consider the following questions to assess how much critical illness insurance is required :
- What is your monthly income?
- What is your monthly expenditure / mortgage repayments / life assurance policy contributions / retirement     fund arrangements / school fees / food, cloths, entertainment etc.
- How much critical illness is needed if you had stopped working yesterday, how long can you maintain the same life-style without an income?
- How much do you require to keep the house that you live in?
- If you are in business, how much is your monthly payroll?

What are the benefits of including Critical illness in our Financial Planning ?

• This Critical Illness Insurance Plan provides Lumpsum funds.
• To retrain for a less stressful career and lifestyle.
• To reduce or eliminate debts.
• To move the “retirement” horizon forward
• To continue business as usual.
• To provide the best possible health care, even if not covered by a health plan.
• Helps you pays off your mortgage balance if you suffer from any of the Critical Illnesses such as a heart attack, stroke or cancer.
• In the event of a Critical Illness, you can be rest assured that all your routine financial obligations are met.

How much does it cost?
We have discussed the importance of having this critical illness benefit, and the probabilities. Now you must be wondering how much you need to contribute for this security – this living benefit.
Actually, it costs more if you DO NOT have critical illness benefit.
Your premiums are based on your age, sex and health. Factors like smoking and family history play a very significant role in your critical illness benefit. People with family history of diabetes or heart attack or cancer run a 40% higher risk of contracting one of the 3 major sicknesses.
Critical Illness is costly living benefit and since the probability of claiming on a Critical Illness policy is much higher that Life Insurance the cost of the policy is also higher.
Critical illness insurance is becoming more expensive than a life insurance because with medical advancement and because of which chances of survival are higher today. People are living longer on account of improvement in medical science and healthcare facilities. The cost of critical illness rider is about 90% to the cost of life insurance cover.
Many offshore insurance companies now have a Return Of Premium (ROP) feature available by way of corresponding cash value at the end of certain age (usually 65 or 75 ).
In simple terms if you reach a certain age (usually 65 or 75) and do not make a claim you will receive all your premiums back without any interest and tax free. You will be paying an extra premium for this feature however many believe it’s generally worth it.

Types of Critical Illness Insurance:
There are mainly 2 types of Critical Illness Insurance available.

1. Whole of Life Unit link Insuance plan …. up to age of 95 years
2. Term plan up to age of 65 years

Example:
1. Assume $100,000 Death Benefit & $ 50,000 Critical Illness Benefit. If you suffer a critical illness and make a claim you would get $50,000 as an advance to Death Benefit and would have $50,000 remaining as death benefit. When you die your beneficiary will get the remaining $50,000.
If you do not make a Critical Illness claim your beneficiary will get the full $100,000.
This type of plan is becoming more popular as the cost is much lower than individual term individual policies for critical illness.
Few of the offshore companies which offer this kind of unit link Critical Insurance in Middle East for expat community are “Zurich International Life” and “Royal London 360” upto a limit of $ 750,000. The individual can enter into a contract till his Age 60 (last Birthday).
2. In India ,almost all private insurance companies are offering a Critical Illness riders that covers 3 major illness ie. Heart Attack, Cancer and Stroke … along with other critical illnesses.
Star Health Insurance are offering a health insurance policy “Senior citizen red carpet health insurance” aimed specifically at senior citizens. It provides cover for anyone over the age of 60 and permits entry right upto the age of 69 with continuing cover after that.
Do check in http://www.starhealth.in/ for the rates.

On the other hand, Bajaj Allianz General Insurance is providing a Critical illness Plan from IRs 1,00,000 to IRs 50,00,000.
Do check in http://www.bajajallianz.com/ for the rates.
Couple of other private insurance companies like ICICI Lombard, Iffco-Tokyo General Insurance , TATA AIG etc. & Life Insurance Corporation. also offers a critical illness insurance plan.
Since the claims for Critical illnesses are rising, many insurance companies offering a term rider are not guarantying the premiums. The premiums are regularly being reviewed based on claims ratio after every 5 years.
Critical Illness Insurance can't help heal the heart attack /stroke/ cancer but it certainly could mean that financially, things were OK.
Critical Illness Insurance is not cheap, but it is an essential part of family financial planning.
Friends I urge you to look into this on a serious note. At times we get caught up in our day to day affairs that we forget or overlook some of the important decisions that can have a major impact on our lives and the lives of our clients families.
Some of the practical powerful phrases which can help clients take decision :

- “ Ten years of savings could be wiped out with one year of sickness.”


- “ Don’t Predict the FUTURE …… PROTECT it .”


- “ We need insurance not because we are going to die but…because we are going to live”


- “ Doctors might save your life but we might lose our Life Savings”



Conclusion :

- "It is better to be prepared and not to have an opportunity rather than have an opportunity and not be prepared"


- Its not the question of …" If " Critical Illness happens … It’s a question of “ When” Critical Illness happens ………????

I hope I have been able to shed some light on the most important area of Financial Planning which is very close to my heart and something I truly believe in!

Critical Illness : Modern Medicine changing the Game Plan

What the Football World Cup taught me about my personal finances

With memories of the World Cup still fresh in mind, we being personal finance guys couldn't help but think of lessons that this tournament reminded us about how to manage our personal finances. So, with a sportsman like spirit, do read the following 5 tips. We are sure that many of these will be lessons that all of us will be well advised to apply in our financial lives.

1. Waka Waka:

Shakira's anthemic song is actually a new version of an old Cameroonian song titled Tsamina. The words Waka Waka translate in English to "do it - get the task done".
When it comes to personal finance, inertia is the worst kind of habit. Postponing financial decisions, delaying thinking about important matters such as retirement, or taking things for granted like funding your child's education or marriage are all types of behavior that hurt. Unless one applies some focus to "get the task done" things always linger. Ultimately, the only loser is the person who procrastinates.
All of us lead busy lives and often can't take time out to attend to our finances. Whether its something as mundane as paying our bills and EMI on time, or something bigger like planning for a house purchase a few years down the line, you have to seize the moment - its not just time for Africa, it's time for you to take care of your personal finances.

2. Past performance is no guide to future performance:

Two of the worst performing teams in this World Cup were France and Italy. For those of you who don't remember, it was these very teams that contested the 2006 World Cup finals, with Italy the ultimate winner. Both are pedigreed football playing nations and were sure shot expected to have at least gone beyond the group stage in 2010. Yet, neither one of them managed to live up to their past footballing traditions and failed miserably in the group stages itself.
The stock markets are very similar. Past performance is no guide to future performance in the markets. Yes, this is a statutory warning that we all see on advertising for NFOs and equity offerings, yet most of us seem to ignore this because we are usually too optimistic about the future.
Always remember to keep your thinking fresh. Understand the context within which you are investing to see if you are not falling into the trap of extrapolating past performance into the future.

3. Hype and underperformance:

Many players came into the tournament surrounded by a lot of hype. Ronaldo, Rooney, Kaka and Messi were the pre-ordained stars of the tournament. They were expected to set the competition alight with their dazzling ability to score goals and change the course of a game. None of them really lived up to all this hype. In fact almost all of them underperformed, perhaps with the exception of Messi in the group stages. This quartet barely scored enough goals collectively to match the individual number of goals scored by less famous players like Forlan and Muller. Sure the quartet is super talented, but if you had placed your money on them you would certainly be poorer.
In the investment world as well, there are times when there is a lot of hype surrounding certain sectors or stocks. History has shown that these are the areas that inevitably end up underperforming - for instance, who can forget tech stocks from the tech bubble years or real estate stocks from just before the global financial crisis occurred. In fact, a tried and tested way to earn returns is to invest in the neglected and non-consensus sectors and stocks that are being ignored by the vast majority of investors in the market. Just like nobody expected Forlan and Muller to be among the top scorers of the tournament, chances are that there are a lot of under hyped names in the market that will be the best performing stocks in 12-24 months time.

4. Vuvuzelas and background noise:

Right from the first match of the tournament, the buzzing sound of thousands of vuvuzelas was never far away. Whether it was TV viewers or those lucky enough to attend the games in the stadium, most fans were irritated by the collective noise of these vuvuzelas. This noise was deafening enough to act as a distraction to the real action on the playing field.
The stock market is also full of noise. Minute by minute reporting of every tick up or down of stock prices hardly has any bearing on the long-term operating fundamentals of the business. Yet, every small move is made into a big deal by different media. Numerous experts give their definitive views on which way the market is going to move tomorrow. If they knew wouldn't they all be billionaires by now - so many of these so-called experts are just blowing their own vuvuzelas.
Professional investors, just like professional footballers, have habitually learned to ignore the background noise. They recognize that the market is full of distractions. We also need to block all the surrounding noise in the stock market. We must select an investment philosophy and stick by it rather than being distracted away from it by experts and their vuvuzelas.

5. Even superstars need coaching:

The who's who of world football was playing in the tournament. Many players are national, if not global, superstars. Yet, despite their natural talent and skills, they were all handled by a manager and his staff who were constantly coaching all the superstars, monitoring their performance and conveying tactical instructions to their teams on the pitch. No one was above being coached.
Similarly, while many of us might think that we are experts in managing our finances and feel like we have world class investing skills, it's always useful to have a financial coach or advisor. Such a person can monitor our situation and suggest useful changes to us so that we can improve our financial performance. Financial advisors can help in identifying certain areas where we might be taking on too much risk, or areas where we are not using our resources to our advantage.
Happy Investing !!!!!!!!

Source : http://www.itrust.in/hot-topics/archived-hot-topics.action

If you died tonight, what will your family do ?

"Does my family really need Rs 2 crore on my death?"
When I suggested Rs 2 crore as sum assured for a customer, this was his immediate reaction. Typical of us, I thought. When a sales person gives us a product/scheme our first thought goes to the 'commission' he or she makes. I keep wondering why.
Even our vegetable vendor has to assure us that the last rupee that we try to squeeze out of him is what he makes. It makes us feel happy. We completely forget that we need tomatoes, which we can afford, and which we like. Why should it be our concern how much he makes?
So, I set out to tell the client the following:
We buy life insurance to replace income lost due to the death of the breadwinner. The amount of life insurance you need depends on the 'income stream' you would want to continue for your family if anything happened to you.
Let's say you earn Rs 800,000 a year. This money provides your family's lifestyle and standard of living. As long as you are alive and well, your loved ones will remain financially secure.
What happens when the breadwinner (read 'You') are no longer able to earn this money? Bluntly, if you died tonight, what would your family do? How would they pay the home loan EMI, car loan, society charges, utilities, taxes and other bills? Where would the money come from for new clothes for your children, for college fees, or even for your spouse to enjoy an evening out with friends?
Very few people are comfortable answering this question. They live like they will never die and most will die like they never lived. When you have lived a good life, and have a family that you 'love,' your answers have to be far, far better than these.

What you say                                                   What you really mean
- My family will get by                                       - You do not know
- My family could cut back expenses                 - You do not know how
- My family could sell the house or  other assets - You have only one house which is your only asset     
- I don't know                                                   - Aha, the truth!

That's why we buy life insurance. So that the answer to that question is, without hesitation or doubt: "They'll be provided for."
How much life insurance do you need? The chart below shows the annual income the insurance proceeds can generate based on the following assumptions: The beginning amount will earn a 5% return after taxes, with principal and interest depleted in 20 years by withdrawing an amount equal to 8% of the original principal every year.
Note that different assumptions will generate different results.

Life Insurance Amount                   Annual Income It Will Generate

Rs 1,000,000                                    Rs 80,000
Rs 2,000,000                                    Rs 1,60,000
Rs 4,000,000                                    Rs 3,20,000
Rs 5,000,000                                    Rs 4,00,000
Rs 10,000,000                                  Rs 8,00,000
Rs 20,000,000                                  Rs 16,00,000

Example: A life insurance death benefit of Rs 10,000,000 would provide your family with an income stream of Rs 800,000 a year for a 20-year period, after which the entire amount would be depleted. So, if you earn Rs 800,000 a year, you may wish to consider Rs 10,000,000 of life insurance.
How expensive is that? That depends on a number of factors, including your age, health and personal habits (such as whether or not you smoke), and type of insurance.
You have several insurance options, depending on need, budget and situation:
Term life insurance provides pure death benefit protection, generally for the smallest cost. It is ideal for the person who needs a high amount of coverage but cannot afford endowment for now.
Endowment policies can provide lifelong protection for a fixed, level premium. Additionally, it combines death benefit with cash value accumulation. However, the initial cost is generally higher than for a comparable amount of term life insurance.

You can have both!
Let me tell you what my customer did. Without worrying too much about the premium he took a term insurance policy of Rs 2 crore about 4 years back from the cheapest source. Every year he has been adding Rs 5 lakh of endowment policies -- a nice way to keep up with the inflation, and the fact that the booming economy has taken his income from earth to stratosphere he is more inclined to save.
Contrary to his first reaction his wife and children wouldn't be rich. However, they would be able to continue to enjoy the financial security and standard of living he has worked so hard to build for them.
Life insurance can replace income lost due to the death of an income earner. It is a cost-effective way to make sure your dreams are completed if you die and are unable to complete them yourself. You may not need Rs 2 crore of life insurance. You may need less. You may need more. The important thing is to make sure you have the amount that's right for you.

Remember your dreams are joint dreams. Do not leave your spouse to fend for herself. Give her the confidence to tell the kids, "Papa has become a star, but nothing will change for us." Give conviction to her voice.
Let the 6th birthday be at the same hotel as the 5th birthday. Let the interior decorator be told, yes the plans remain the same. Let the kids dream of an Ivy League education. Let the father, father-in-law, and brother-in-law not decide where your wife should stay.
Let not the kids who lost one parent to fate lose the other parent to a full-time job. Simple, insurance is not because you will die. It is because they will live.
We in the financial planning industry cannot protect lives. We try to protect lifestyles. The odds favour us over doctors who try to protect lives.

http://in.rediff.com/money/2006/may/10perfin.htm

Power Of Money

Inspirational ! Share with the children.
Power of Money, By Adam Khoo
( Singapore 's youngest millionaire at 26 yrs.)
Some of you may already know that I travel around the region pretty frequently, having to visit and conduct seminars at my offices in Malaysia , Indonesia , Thailand and Suzhou ( China ). I am in the airport almost every other week so I get to bump into many people who have attended my seminars or have read my books.
Recently, someone came up to me on a plane to KL and looked rather shocked. He asked, 'How come a millionaire like you is traveling economy?' My reply was, 'That's why I am a millionaire. ' He still looked pretty confused.
This again confirms that greatest lie ever told about wealth (which I wrote about in my latest book 'Secrets of Self-Made Millionaires'). Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo Boss, Rolex, and sit on first class in air travel. This is why so many people never become rich because the moment that earn more money, they think that it is only natural that they spend more, putting them back to square one.
The truth is that most self-made millionaires are frugal and only spend on what is necessary and of value. That is why they are able to accumulate and multiply their wealth so much faster.
Over the last 7 years, I have saved about 80% of my income while today I save only about 60% (because I have my wife, mother in law, 2 maids, 2 kids, etc. to support). Still, it is way above most people who save 10% of their income (if they are lucky).
I refuse to buy a first class ticket or to buy a $300 shirt because I think that it is a complete waste of money. However, I happily pay $1,300 to send my 2-year old daughter to Julia Gabriel Speech and Drama without thinking twice.
When I joined the YEO (Young Entrepreneur's Orgn)a few years back (YEO) is an exclusive club open to those who are under 40 and make over $1m a year in their own business) I discovered that those who were self-made thought like me. Many of them with net worth well over $5m,travelled economy class and some even drove Toyota 's and Nissans,not Audis, Mercs, BMWs.
I noticed that it was only those who never had to work hard to build their own wealth (there were also a few ministers' and tycoons' sons in the club) who spent like there was no tomorrow. Somehow, when you did not have to build everything from scratch, you do not really value money. This is precisely the reason why a family's wealth (no matter how much) rarely lasts past the third generation.
Thank God my rich dad foresaw this terrible possibility and refused to give me a cent to start my business.
Then some people ask me, 'What is the point in making so much money if you don't enjoy it?' The thing is that I don't really find happiness in buying branded clothes, jewellery or sitting first class. Even if buying something makes me happy it is only for a while, it does not last.
Material happiness never lasts, it just give you a quick fix. After a while you feel lousy again and have to buy the next thing which you think will make you happy. I always think that if you need material things to make you happy, then you live a pretty sad and unfulfilled life..
Instead, what makes me happy is when I see my children laughing and playing and learning so fast. What makes me happy is when I see my companies and trainers reaching more and more people every year in so many more countries.
What makes me really happy is when I read all the emails about how my books and seminars have touched and inspired someone's life.
What makes me really happy is reading all your wonderful posts about how this blog is inspiring you. This happiness makes me feel really good for a long time, much much more than what a Rolex would do for me.
I think the point I want to put across is that happiness must come from doing your life's work (be it teaching, building homes, designing,trading, winning tournaments etc.) and the money that comes is only a by-product. If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a life of meaninglessness.

Happy Investing !!!!

Record Keeping - Project 2 - CC Manual

Record Keeping



Mark Twain has often been quoted as saying – “Everybody talks about the death, but nobody does anything about it.”


Toast master of the day, Fellow Toast masters and Distinguished Guests


Many of us know that exercising daily is good for health but how many of us actually do it.
Many of Smokers know that Smoking is Injurious to Health but how many actually quit smoking. Including me … I know many of my friends who must have quitted smoking 50 times a year.
Similarly Many of us know that keeping records especially Financial Records is of the utmost importance.


Are we doing it ????.


Financial Planning process is incomplete without proper RECORD KEEPING..
Survey shows that 70% of the family head who takes the decision on financial matters do not keep proper records. Either they do not know about it or vaguely know about it.


I do meet individuals who are looking out for Financial Planning. One of the area I stress upon while talking about Financial Planning or before I can recommend any Financial Plan is to know what are the existing plans / insurance policies my prospect is having with him.
Friends, to my surprise the kind of answers which I am getting from my majority of prospects is this:
- I have kept it at the safe place but I have to find it out where I have kept.
- I don’t know where I have kept the policy documents but it is there somewhere in the house.
- I don’t know how much I am covered for…. My father is taking care of it ???


My elder brother who knows one insurance advisor knows about it. I am just sending the money on a yearly basis and it’s been done.
Are you all shocked with such answers !!!!
Even I am shocked when this kind of answers are coming out from an educated individual . With a due respect to all the family members … my point is let them take care of it …. But at least you also keep a record of it …. So that you have a complete PEACE of Mind that your hard earned money is going in the right direction and you also know about it.


As per the mortality ratio the probability of my father / elder brother going up in the heaven is much more than me. And if it does happen then WHAT ???? Back to square. Trying to know whom to contact , where to contact, what policies he has taken for me. etc.???


I would like to share a true incident which says Why it is important to keep proper records ??


One of my prospects’ family suffered for not keeping records properly. Mr and Mrs Darshan , a family of four, had settled in Dubai. Mr Darshan was in his early 40s, wife in her late 30s and had a seven-year-old son and a three-year-old daughter.


In January 2005, as a routine, I started calling up all my prospects to greet them for the New Year . When I called up Mr Darshan , the receptionist at his office said he had passed away. The news was shocking.

I was more shocked to know when I called Amin ( a common friend) that Mrs. Meenakshi Darshan who was an educated lady, did not know anything of her husband’s investments and savings. In fact she even didn’t knew the PIN no. of ATM which husband was using.


Now Mrs. Meenakshi was facing the consequences of not keeping proper records by her Husband. Mrs. Meenakshi inspite of a homemaker, now she had to work to meet her family’s expenses.
I advised her to check the post regularly, as banks, investments and insurance firms mostly correspond through postal services. We also asked Mr Darshan’s friends whether they had done any investments/savings/insurance/bank account, etc together. (as colleagues often invest together in good investment / insurance plans ).


One day, while checking the mail, she got some important documents regarding a IMD’s ( Indian Millennium Deposits) amounting to $50,000,which was about to mature in a month’s time. Now, Mrs.Darshan had to give all the relevent documents to prove she is the beneficiary and policy documents are misplaced.


Here I really felt the importance of teaching banking basics to all family members, including children.
Finally, she did manage to get the money, but with great difficulties. The procedure has taken almost 8 months to 10 months. The whole situation would have been easier , had Mr Darshan informed his wife and a well-wisher (3rd party) about his investment details.


The reason why a third party has to be involved is, because, we cannot rule out an unfortunate eventuality to husband and wife together.

As a financial planner, I would advise my clients and prospects and friends to start making a note of all the important bank account details, fixed deposits, mutual funds folio number, insurance policy number, property papers, jewellery etc. Keep and file all the original papers in proper order and Also if we can put it as a summarized one pager and whom to contact in case of Emergencies, it will help the beneficiaries to properly take care of money after we are not there, keep updating it every six months. Keep all the papers in a place, which is easily accessible to your beneficiaries. If possible, give a copy in a sealed envelope to one of your relatives or a well-wisher, who will act as an executor after your death and help your beneficiaries get the money.


One thing which I can assure you of is this exercise will give you peace of mind. And in case of an eventuality your soul would rest in peace.


Over to Toast master of the Day

Great Memories with Mr. M.F.Hussain - The Picasso of Modern world

Sensational Meeting with Dr. Mark Mobius - Guru of Emerging Market Funds

How to Find What You Love to Do

How to Find What You Love to Do

By: Brian Kim - July 17, 2006


If you're a first time visitor, I highly encourage you to click here to learn more about this site in order for you to get the VERY BEST VALUE out of it. Thank you for visiting!


This article was inspired by Steve Jobs’ commencement speech at Stanford University. In it, he says the advice we’ve all heard a thousand times:


“You’ve got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”
- Steve Jobs


Well then, the question naturally arises:


How do you find what you love to do? It’s such a big question.


What absolutely boils my blood is that we hear we should be doing what we love to do all the time, but there’s not any step by step advice out there on how to find what you love to do. The advice that is out there helps to a certain degree, but it’s just a bunch of pieces thrown together with no coherent logical structure or order.


A perfect example is this. In order to find your passion, we are told to ask ourselves:
“What would you do if you had a million dollars (tax free)?”
The typical answer ensues: “Well gee, I would put it in an account that yields high interest and live off the interest each year. Then I would move to Hawaii, buy a house, sip margaritas all day, play video games, go to the beach, swim, travel around the world, taste all the cuisines, read the books, play the sports, and on and on and on.”

Does this really help? Not really. Sure, you figured out what your lazy butt likes to do, but it doesn’t really answer the question that’s hidden, which is “How do I make money doing what I love to do?


What’s the result? People working in jobs they hate, feeling trapped because they can’t quit as they rely on that sole source of income to finance a lifestyle tailored to escape their grim reality, drifting aimlessly in life, in short, leading lives of quiet desperation, as so eloquently put by Henry David Thoreau.


Why don’t they just quit their jobs and pursue what they love to do you ask?
Two Reasons.


Reason #1: They don’t know what they love to do.


Reason #2: Fear. They’ve got a lifestyle to uphold, bills to pay for, families to take care of, fear of no steady source of income, fear of what other people might think or say about them, etc. Fear.
Conquer indecision in Reason #1 and ACT, and you will most definitely conquer all fear in Reason #2.


The very fact that you are seeking to find what you love to do (by the very fact you came across this article and started reading it) is a BIG step believe it or not. Many people in their lifetime avoid or do not even seek to find the answer to that question. They hear the question in their head but have become extremely adept at silencing it.


It is extremely important to answer the question on how to find what you love to do.
You must decide what destination to steer your life in. Otherwise, you leave yourself wide open for others to direct your life, as well as at the mercy of the winds and storms of life. If you know where your destination is, the rest is easy.


You will find once you know what you want to do, all uncertainty and burden will be lifted off your shoulders and you will have clear vision as to what your journey is and that journey will truly be joyful.


By the time you finish reading this article, I sincerely hope you experience that.
What about how to make money doing what you love?


The question of how to monetize doing what you love is certainly a valid one. There are bills to pay, stomachs to feed, families to support, etc.


Don’t worry about that for now. That will be covered later in this article.
First things first, you’ve got to find what you love to do.


Why is it so hard to find what you love to do?


The answer is:  It’s not hard at all.


You read right.


It’s not hard at all.


Then why are so many people having difficulty finding what they love to do?


Because they’ve never truly asked themselves.


What amazes me is that there seems to be a stigma attached to spending time with oneself. You have to constantly be doing something, whether it’s going to the game, drinking beer with the buddies, going to that hot party or club downtown, etc. Don’t get me wrong, there’s nothing wrong with doing all that, but I suspect the vast majority of people who engage in this “I have to be doing something every minute because I can’t be by myself” mentality are just putting up a front to show people how satisfying and fulfilling their life is, when in reality, it’s just the opposite. The irony here is that spending time with oneself is EXACTLY what you should be doing to lead a satisfying and fulfilling life.


People think you have to travel around the world, experience new things, etc to find what you love to do. No. You just have to sit down and decide. The answer is already within you. You just have to dig it up and avoid procrastinating. Your brain has absorbed all sorts of information and experiences and it has the answer ready to be unraveled.


Just let it out.

Be honest. Have you actually sat down by yourself with no distractions, with your sole focus on asking yourself what you love to do without picking up your cell phone, surfing the net, watching TV, chatting on AIM, listening to your favorite song, playing solitaire or minesweeper, checking your email, returning a call, getting a drink of water, going to the bathroom, looking at the clock, reading a magazine article, I could go on and on but you get the point. I’m going to go out on a limb and say you haven’t for the sole purpose of you reading this article. Why is that?


Fear of what the answer will be if you ask yourself what you love to do.


The answer is: I don’t know.


But that is exactly why you MUST find out. You’re avoiding the question because you know the answer is you don’t know, but that’s ok. Admitting you don’t know is perfectly fine. There’s nothing wrong with it. You’re way ahead of a ton of other people who learn to quiet the voice within that asks the question of “What do I love to do?”


And let’s say you’re one of the few people who actually specifically know what they love to do. The
next thought that pops in their head is “Oh, I can’t make any money off of that.” The seed that was
planted never grew.


I hate vague answers. I want clear, logical, definitive answers to questions.


So let’s do this.


Step 1: You WILL find the answer. No doubt.


You will find the answer. You will find it. No doubt.
Approach the question with this mentality and you are sure to find it. How long will it take? It doesn’t matter. Bottom line, you will find the answer.
By doing this, you automatically instill an anti quitting mechanism within yourself, because you know you will find the answer. If you know what you want to do, then you will do it.


For example, if you know you want to arrive in New York, you’ll find ways to get there. You’ll hop a train, bus, or plane going to New York and will arrive in New York.


If you don’t have the cash, you’ll borrow it, or get a job and save up, or get a job as a flight attendant to get there for free. It doesn’t matter how long it will take or what you need to do because you know you’re going to New York.


All your actions onward from the decision that you want to arrive in New York will revolve around getting to New York.


Read that last sentence again.


All your actions onward from the decision that you want to arrive in New York will revolve around getting to New York.


Finding what you love to do = Deciding to arrive in New York.


Step 2: Make a list of your skills and interests in two columns and WRITE THEM DOWN (I’ll explain why you must write things down later):


I’ve taken the liberty of creating a document you can print so you can easily fill in the blanks. You can download it here. KEY is to WRITE THESE DOWN!! I cannot emphasize this enough. Don’t think you can do it all in your head. WRITE IT DOWN.


When I mean by skills is any skill. It could be an intangible skill. Empty your clip here, list EVERY skill you have. It could be programming, making web pages, talking, listening, persuading people, typing, flirting, analyzing, giving speeches, making things easy to understand, whistling, blowing bubbles with your spit, it could be anything. Don’t be bashful. List everything you perceive your skills to be.


On your other column, lists your interests and don’t be shy here as well. List EVERY interest you could possibly think of. Spiders, shoes, hair, makeup, basketball, tennis, thinking of ideas, babysiseashells, seaweed, can openers, anything goes. Yes, I did say can openers. Your interests can also include subjects you are knowledgeable about as well. Computers, economics, biology,
baskebtall plays, football plays, magic tricks, etc.


To help you write down more interests, think of what you were interested in at your previous jobs
and write them down. Also, think of what you were NOT interested in your previous jobs and write
the exact opposite.


Asking yourself the following questions may shed light as to what skills and interests you possess. If you went in a bookstore, which section do you naturally gravitate toward?
Ask friends for any skills and interests they see in you. You’ll be surprised at how much insight they have on you that you’ve never thought of before.


What do you spend most of your time doing? What do you look forward to doing?
Go back and think of your accomplishments as a child. What kind of skills and interests revolved around your accomplishments?


What did people praise you on doing?


What did your teachers or parents say you had a skill or knack of doing?


Why am I emphasizing skills and interests here?


Skills: Because you’ve got to leverage what you’re strong with. And don’t say you don’t have any. Everybody has skills. You’ve just never sat down and thought about it and wrote it down. By using your skills, you’ve got a head start, a catalyst.


Interests: Simply because you’ve got to love what you do. By including interests, you include another form of an anti quitting mechanism.


Focus on generating as many skills and interests you can possibly think of and WRITE IT DOWN! You may find that your skills are gravitating toward one or two particular skills. The same may hold true for interests. Keep that in mind for step 3.

Step 3: Set aside some TRUE alone time with no distractions to focus and figure out what you love to do by asking yourself the right questions. It amazes me how people set aside time for taxes, cooking, watching movies, reading, but when it comes to their own personal future, they NEVER set aside any time. How much MORE time should you set aside to figure out the path that will make you happy?


Ok, you’ve set some private alone time with no distractions; now what?


You must ask yourself an extremely clear question. Clarity is key here. The clearer the question, the easier the answer will be.


For example, if I ask you what 12 times 12 is, the answer comes easily, 144.
However, if I ask, what is some even two digit number times some other even two digit number?
Guess how long it’ll take you to answer that question?
Clear questions lead to clear answers.


Another key thing is to WRITE it down. I know you’ve heard it a billion times and it’s so cliché but there’s a reason. Writing things down allows you to easily make connections you’ve never thought of before because you see it on paper. It also allows you to “free room” in your brain for other thoughts because they are put in another container so to speak.tting, walking, hiking, fireworks, helping people, making fun of people, fishing, tai chi, karate,


If I ask you, what’s 257 times 852, try doing that in your head vs. writing it down. When you write it down, the answer comes out easier, not to mention more accurate.


If you haven’t already wrote down your skills and interests in the previous step, STOP and DO IT NOW. It won’t do you any good having them in your head.


So, let’s use your alone time to ask yourself a clear question in writing. What is the question you should ask yourself? Is it: “What do I love to do?”
That question is a bit broad, so let’s narrow it down a little. Try asking yourself:


What would I love to do on a daily basis utilizing both my skills and interests that will add
significant value to people?


See the difference here? The more detailed and clearer the question, the easier it is to answer it. Why did I add the add value part? Because that will lead you to find a way to make money doing what you love.


By incorporating the question of how to add significant value by utilizing your skills, you automatically filter out all the “common answers” that people come up with when asked what they love to do. Common answers such as: “I love to watch TV.” Or “I love to play video games.”


Answers such as that discourage people because they see no way of making money from it. Adding to that, many people tend to make the mistake of focusing on how to make money. A lot of people fail to realize that money is just a byproduct of adding value in the form of a product or service to people.


When you know how you can add value to people, you’ll know how to get money.


Open up Word or get out a blank sheet of paper and write that question up at the top. Here it is again in case you don’t want to scroll up.


What would I love to do on a daily basis utilizing both my skills and interests that will add significant value to people?


The KEY is to WRITE YOUR ANSWERS DOWN!! I cannot emphasize this enough. Don’t think you can do it all in your head. WRITE IT DOWN.
Looking at the two column list you made in the previous step, start writing down a list of answers.


Just write. It doesn’t have to be perfect and it doesn’t have to make sense because sooner or later, you will connect the dots. Here’s a story to illustrate what I’m talking about.


There was a story about a small town with a ski resort which attracted a lot of tourists, which in turn helped the town’s economy. However, when it snowed, the snowfall collected on the power cables, until the weight was enough to collapse the cables, resulting in several power outages. Slowly but surely, tourists stopped coming, so the town held a meeting to discuss how to solve the problem of having snow collect on the power cables. Solutions were tossed out for quite some time.


Then somebody shouted in a loud voice from the back of the room and said “Let’s hang pots of honey on the power cables to make the bears climb up. When the bears climb up and get the honey, their movement will shake the snow off the power cables.”


The audience laughed and somebody else deciding to play along said “How will we refill the pots of honey?” “We’ll use a helicopter”, another person said.


Then the answer dawned upon them. By having a helicopter fly by the power lines, the wind from the propellers would shake the snow off.


The main point here is that answers, no matter how ridiculous they may seem, should not be feared because more often than not, they lead to results. It’s all part of the process.


Even if an answer seems ludicrous, write it down. Write down all your answers. Do it until you have 20 answers and look them over. You will find that as you write down answers and look at them, it will in turn propel you to think of new creative answers that you would not have come up with before. You will be amazed at all the things you wrote and the different solid creative ideas that come about.
Now the time comes for focus.


I’m sure you’ve heard of the sun and magnifying glass analogy pertaining to focus but I’m going to say it again. If you try to do a bunch of things at once, nothing will get done. If you wave a magnifying glass around on the hottest day, you won’t burn anything. You’ll dissipate all your energy among the trivial many.


By focusing and harnessing all your power, energy, time, focus, thinking, etc. on one goal, you will be amazed at how deep and quickly you can accomplish that. Just as you steady a magnifying glass on a single object, with the hot burning sun rays analogous to your desire, focus, power, energy, time, etc, you will make an impact.


The notion of focus is so important that I’m going to use another analogy. Imagine you’re a cheetah and you see two juicy gazelles grazing in the grass. Spending your time chasing both = no food = death. Hunt one down. It might take time to catch it and kill it, but when you do, you’ll be recharged. You will soon start collecting information on how the gazelles run, which direction they run, where they like to graze, etc, which will help you catch more gazelles in the future, thereby putting you in a favorable cycle. Case in point, focus on one.


So look over your list you just made and choose one idea that seems the most appealing to you. You may find you can combine a few ideas into one idea. Nevertheless, choose one idea that you will garner the greatest satisfaction not just for yourself, but to other people.


You might want to zero in on the ideas that combine your skills and interests that you’ve listed in the beginning. The reason being, psychologically speaking, you’ve probably listed your greatest skills and interests first and then as you started listing them downward, so did your degree of skill and interest. This might not be true. You might have 20 different but equal skills and interests, which if you do, I congratulate you. Just a tip I thought I would throw out.


How Will You Know You’ve Found What You Love To Do?


Does it make you feel good? If you feel it in your gut that you’ve hit the jackpot, you’re right. If your friend were to bring up the idea you picked, would you be all over it talking about it?
You have to have no reservations about it. If you feel the slightest doubt that it’s not your passion, then it’s not. You must hunger to overcome any obstacles to pursue your passion.