Tuesday, September 14, 2010

THE ART OF WEALTH MANAGEMENT

NOTIONAL WEALTH
A Mulla Nasrudin Teaching Story
By
VIKRAM KARVE


The other day, during a visit to my bank, I noticed a large number of persons wanting to visit and check their safe deposit lockers and I was reminded of this Mulla Nasrudin story:


Mulla Nasrudin relocated to a new town.

In this town there was a tradition.

People saved their money and with their money they purchased gold coins.

When they had enough gold coins to fill up an earthenware pot, they bought an earthenware pot, filled it with gold coins, sealed it and then they buried the pot full of gold in their gardens in a secret spot.

Once a year, they dug up the vessels from their secret hidden spots, opened the seals, checked their gold coins, resealed the pots and then buried them again at another secret spot in their gardens.

When the Nasrudin learned about this practice, he found an earthenware pot, and in full public view, he filled the pot with stones, dug a hole in the centre of the road and started burying his pot full of stones.

“Nasrudin, that is not the proper way,” said the townsfolk, “You are supposed to fill the pot with gold, not stones.”

“Dear friends,” Nasrudin laughed, “as long as you are not going to spend it, what difference does it make if it is gold or stones...?”

 
Now tell me, Dear Reader, what is the moral of this story?

 
VIKRAM KARVE
© vikram karve., all rights reserved. 
 
VIKRAM KARVE educated at IIT Delhi, ITBHU and The Lawrence School Lovedale, is an Electronics and Communications Engineer by profession, a Human Resource Manager and Trainer by occupation, a Teacher by vocation, a Creative Writer by inclination and a Foodie by passion. An avid blogger, he has written a number of fiction short stories and creative non-fiction articles in magazines and journals for many years before the advent of blogging. His delicious foodie blogs have been compiled in a book "Appetite for a Stroll". Vikram lives in Pune with his family and pet Doberman girl Sherry, with whom he takes long walks thinking creative thoughts.
 
Vikram Karve Creative Writing Blog: http://vikramkarve.sulekha.com  
Academic and Creative Writing Journal Vikram Karve: http://karvediat.blogspot.com
Professional Profile of Vikram Karve: http://www.linkedin.com/in/karve 

© vikram karve., all rights reserved.

4 comments:

hardik mehta said...

what will happen to u in case of emergency if u have stones and not gold coins?? I think saviings are very very important sir!!! One must strike a balance between both savings and spendings!!!

Kenneth Swindell said...

That's a very wise story. It's interesting how many people forget that the point of wealth is to improve the life of its owner. Many people simply manage money for the sake of earning the most of it - like a high score in a video game. That's why a good Financial Advisor will always ask about what needs the investor has for the money and when. Planning for a wedding is different than planning for retirement or saving to buy a house. I'll tell this story to my clients in the future.

Vikram Waman Karve said...

You are right Kenneth - wealth must improve the life of the owner. Thanks for your views.

Vikram Waman Karve said...

hardik,
yes, savings are very important, and one must strike a balance, as you say.
Thanks for your views