Millionaires Don't Eat Cakes...They Make Them By Sanjay Matai is a simple guide that reveals the secret of transforming income into wealth.
Summary Of The Book
Written for entrepreneurs interested in making informed financial decisions, Millionaires Don't Eat Cakes...They Make Them offers simple guidelines and tips to make the most of one’s income. Correlating personal finance and cooking, the author focuses on the essentials of managing one's personal finance in the right manner. In seven chapters, the book details how finance is as simple as cooking and how all one needs is the right recipe.
Millionaires aren't born lucky nor are they specially gifted with magical powers. What makes them who they are is their value system. In this book, Sanjay Matai reveals how it is important to make the cakes before eating them. He discusses why the starting capital is the most important and basic ingredient for any investment and how it should be utilized.
The author rightly points out that the rays of the sun are universal and available to all, it depends on us whether we utilize or ignore it. He notes that income will stop after a certain age, but converting income into wealth can contribute to continuous income. With good managerial skills, a little pile of money can be converted into riches. Matai also notes that our assets, like a tree, need to grow before we can harvest the fruits. The appropriate location of the assets, along with diversity, is also important. Above all, the financial well-being of a person is dependant on a balanced diet of equity, property and bonds.
How is wealth different from income? How can we convert our income into wealth? How do the wealth preservers and wealth creators contribute to the formation of wealth? What is the importance of protecting risk and avoiding safety? How can we become financial chefs and achieve success? In a simple manner, Millionaires Don't Eat Cakes...They Make Them demystifies all these answers.
About Sanjay Matai
Sanjay Matai is an author and financial advisor. He has written other books like Plan For Prosperity: Road To Riches With Financial Wisdom, The Money Gyaan and 10/10 Now Control Your Money...Perfectly.
Matai completed his BE from Delhi College of Engineering and his post graduation from the Indian Institute of Management in Calcutta. He has over 20 years of experience in the fields of management, investment advisory and corporate finance. The Wealth Architects is his blog on personal finance that helps individuals plan their finances according to their requirements, aspirations, and risk-appetite.
dont buy its a waist
15 Jan, 2013
22 Jan, 2012
It is a great book to know about managing your personal finance
17 Jan, 2012