Money vs Wealth conundrum

Everyone seems to be running after money and still not being able to be satisfied with what one has got. Money is defined as the cash flow you need to maintain the lifestyle you have. Wealth is defined as the money accumulated over time or the money that will last a lifetime. Therefore, we must focus on wealth creation and not running after money. Remember, money never made a man happy yet, nor will it. There are 4 kinds of people with respect to their attributes on money and time. 

1. People having lot of money, but no time.
   We see rich businessman, company's CEO's and other top notch officials who are arriving in chauffeur driven cars and are always busy in meetings and events. They seem to have a lot of money in their pockets but no time to enjoy it.
2. People having lots of time, but no money.
   We come across a lot of people who just laze around or just enjoying their hookah, with no work to do and no money to have.
3. People having no money and no time.
   Most of the salaried class and businessman lie in this class (over 97% of the world's population is here). Everyone seems to be working their day and night for money to be used to pay bills and EMI's. Growing in the corporate ladder will only take you from the quadrant 3 to quadrant 1. The corporate mindset is aligned towards attaining a level wherein you reside in the first quadrant.
4. People having both money and time.
   This is where one must aim for and attain a mindset for so that one has the time to earn and spend on himself/herself. Less than 1% of the world's population lies here.

Wealth consists not in having great possessions, but in having few wants ... Epictetus

Money is a terrible master but an excellent servant ...  P.T. Barnum

Too many people spend money they earned, to buy things they don't want and, 

to impress people that they don't like ... Will Rogers

Leaders and Managers

Managers and leaders are both important. People follow managers because they must. People follow leaders by choice. And, it’s ideal for one person to have both qualities. You can hit a professional jackpot by being great at both. 

QUALITIES OF A GREAT LEADER

1. Being humble 
   A leader is someone who usually shares the spotlight and credits followers for the work that they have done as a team. It takes more confidence to be humble than in basking in the glory of accomplishment. Clients and employees appreciate humility, and leaders who give credit where credit’s due!
2. Lead by example
   Leaders lead by example. They are not hypocrites. If a leader wants subordinates to be punctual, they themselves will establish the habit of being punctual first. Leaders need to set the tone and the followers will be inspired to follow, automatically.
3. Communicate effectively
   Leaders will be able to effectively communicate on and off the job. Along with being heard and understood, great leaders also know the importance of listening. Leaders understand that communication is a two-way street.
4. Know your limits
   Leaders set limits for themselves. Leaders know what and how much they can tolerate, saving the entire office loads of frustration. Keeping clear boundaries helps prevent any sort of confusion.
5. Keep meetings productive
   Time is money! They avoid tangential discussions and other sources of unproductivity during meetings. Leaders trust their team to do their job right, with no need for micromanagement.
6. Be emotionally aware
   They keep all kinds of emotions out of the office. Business is more about the relationships between people. And to build and nurture lasting relationships a good leader has to be emotionally intelligent.
7. Never stop improving
   Great leaders are constantly learning and updating their knowledge. They never stop. They continually work to improve themselves and be better. There is always a new skill to master or a new project to work on. Great leaders keep their mind open for new possibilities and fresh ideas.

QUALITIES OF A GREAT MANAGER

1. Expect excellence
   It is important for a manager to set high yet realistic standards, and expect employees to meet them. Ultimately, the best managers are not those who are the nicest or the toughest, but those who get things done and demonstrate tangible results. Once employees understand that a manager expects excellence—not only their own, but that of others—they will likely begin to up their game and perform better.
2. Communicate regularly by providing meaningful feedback in real time
   At first, communicating effectively may sound a bit trite, but it is fundamental to sound management. The best and strongest managers are those who are excellent communicators. The ability to provide both positive and negative feedback is a core skill and competency for managers.
3. Don’t avoid conflict, but deal with it directly and fairly
   Every professional knows that the workplace is a breeding ground for conflict. Issues like compensation, interpersonal problems, cost-cutting, recognition, management-employee relations, layoffs, and many other points of conflict are bound to arise. There is never a shortage of molehills to create mountains out of.
   Though it is tempting to turn a deaf ear, the best managers do not avoid conflict and instead address any issues that arise fairly. Employees observe takes responsibility and who doesn’t.
   They are likely to show more respect to those managers who resolve issues immediately than those who ignore the problem or don’t act quickly.
4. Be open to new ways of looking at things
   Adaptability, flexibility, and being attuned to their environment are some of the qualities of a good manager. They always look for new opportunities by listening to what others have to say. It is important to be a good listener, no matter your role. That said, it’s quite common for, the best process improvement ideas come from employees who are relatively low in the organizational hierarchy. A good manager is never afraid to shift from the usual “This is the way we’ve always done it here.”
5. Accept that you still have a lot to learn
   Once they have attained a management position, managers sometimes forget that they are in the process of learning, too. You may have expertise in their field with years of experience, but keeping your mind open to new ideas is important. Professional advancement is fueled by a constant learning process—and once a manager accepts this and sets continuous improvement as a standard, they become a better manager than before.
6. Set a good example
   If a manager has an insular mentality, they may struggle to understand subordinates and face difficulty in making them abide by the rules. The same professionalism, commitment, and dedication that the manager demands from his juniors need to be upheld by him, as well.
7. Be decisive
   It is important for a manager to make decisions and stick to them. Employees are generally not comfortable with someone who constantly changes their mind on issues. A confident manager is one who does not fear being wrong. The best managers use bad situations as learning curves and as examples of what not to do. Employees are generally repelled by those employers who are in denial of the repercussions of the decisions that have been made by them.
8. Be patient with yourself
   Being able to develop strong skills leading and managing takes time. Keep in mind all of the above tips. Talk to more people who have been in the role, and learn from them. This will improve your skills as a manager.

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To gain success, a person will need high EQ;

If you don't want to lose quickly, you will need a high IQ;

If you want to be respected, you will need high LQ (of love) ... Jack Ma, Founder, Alibaba

Personal luxury

Luxury is not about money. It is about living a truly authentic life. Luxury products were created to help people live a more comfortable life. Comfort is readily available to anyone not through buying more, but by just slowing down and enjoying the beauty that exists in a life simply lived.

• Luxury is not the opposite of poverty. It is the opposite of vulgarity.
• True luxury is about authenticity, and cannot be created by buying more. 
• Luxury is not a matter of having more or less. 
• Luxury is about creating an environment that liberates your aspirations.
• Luxury is about removing the distractions and living life the way you want to live.
• It is not living a spartan life or the life of an ascetic. It is not about reducing for the sake of reducing. 
• It is not about an idea of giving away everything you own in order to be happy.
• The journey of life is about discovering the right balance between work and play, people and things to help you create a life that is authentically yours.
• True luxury is not about being the first to have whatever the latest marketing campaign is pitching. True luxury is a very personal idea. 
• True luxury is about being able to liberate your aspirations in your own personal way. 
• True luxury is about creating the right balance in your life so that you have time for the things that matter most.
• Those watches, cars, jets and McMansions all cost time to amass them, but also the time it takes to maintain them and to dote over them. They demand your time as you cherish them and adore them.
• There is only so much time in the world. More cannot be created. It cannot be sold or traded. It can only be drawn upon, and the less you waste on the distractions of life, the more you have to spend creating a life that is truly yours and that is a true luxury.
• Regardless of how much money you have or how many baubles you might cherish, learn to simplify your life and you will learn the value of a minute.
• Invest your time not just in managing money and things but in relationships that supports, nurtures and helps you grow.
• In the end, success and affluence and luxury is not about showing off the latest gadget. It is not about having a bigger car or larger house. It is about being able to manage your time and your life, your way.

Take the time to evaluate what is important in your life and let that be the guideline, not just for happiness, but for living a rewarding, successful, and luxurious life.

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Don't handicap your children by making their lives easy ... Robert A. Heinlein

Luxury is the enemy of growth. Abundance is neither good nor healthy 
for the growth of a child’s mind ...  Abhijit Naskar