Scribd
Upload
95 views1 page

Book Review of MR Ritesh

This book review summarizes a book titled "Be Rich" that provides financial guidance for middle and lower class Indians. The book contains six chapters that discuss important concepts like safeguarding savings from scams, the power of compound interest over long periods of time, the importance of compulsory savings, and investing for the long-term rather than short-term gains. While investing carries risks, the author demonstrates how equity shares can generate wealth over the long run. The concise book aims to educate early investors on basic financial principles in a straightforward manner.

Uploaded by

Madhavi Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
95 views1 page

Book Review of MR Ritesh

This book review summarizes a book titled "Be Rich" that provides financial guidance for middle and lower class Indians. The book contains six chapters that discuss important concepts like safeguarding savings from scams, the power of compound interest over long periods of time, the importance of compulsory savings, and investing for the long-term rather than short-term gains. While investing carries risks, the author demonstrates how equity shares can generate wealth over the long run. The concise book aims to educate early investors on basic financial principles in a straightforward manner.

Uploaded by

Madhavi Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

BOOK REVIEW

‘BE RICH’ GUIDE FOR ‘AAMDANI ATTHANI AND KHARCHA RUPAIYA CLASS’

BY RITESH K

There is a saying ‘money, money, money……..brighter than sun…..sweeter than honey’. Getting rich
and wealthy through fare means is possibly a common objective for any sansari individual. Achieving
financial goals require hard work, dedication, passion and above all lot of patience. These are rare
attributes, and no wonder that many people lost mid-way and fail to achieve the financial goals
during the lifetime.

This short, concise book written by Ritesh K may prove a very useful tool for all individuals who are
striving to achieve financial goals untiringly. Even on the cover the author declared that this book is
written “exclusively for Indian middle and lower middle class”.

The book contains six chapters. The first one aptly named as ‘safety valve’ talks about recent
instances of greed of investors that resulted into loss of hard earned money. Security of savings is
possibly the first and foremost concern for any investor. Off late many unscrupulous companies
lured gullible investors with tall promises. Author puts some good guideline for identifying such false
promises, and ways to safeguard self.

The second chapter titled as ‘learning from history’. It deals with the power of time value of money.
The author explained ‘rule of 72’ with an example, which readers will find useful. He also
demonstrated the decaying impact of inflation on returns on investment. An illustration with last 44
years data is a very interesting way to show, how the real return on investments may go against our
expectations.

The third chapter is titled as ‘% principle to wealth’. It talks about compulsory saving by reducing
current consumptions. This is a widely applied idea. In fact, the employee provident fund (EPF)
schemes are launched to make a certain part of salary savings compulsory. Savings needs discipline
and regular contribution. This chapter reminds the investors to remain regular and disciplined in
their savings approach.

The fourth chapter is named as ‘test vs one day vs 20-20 match’. Investment is a long term game.
There is no short-cut in achieving wealth. The ‘power of compounding works best in the long term.
The author explains this phenomenon with good examples.

The fifth and sixth chapter talks about the virtue of investing in equity shares. Though investing in
equity is fraught with risks, and the present economic scenario may not be very suitable for equity
investment, still some investors may consider it as an investment route. The author demonstrated
the long term suitability of the equity as wealth generator with few examples.

Overall, this may a useful book for early investors. Investment management is a typical subject area
involving lot of mathematical models. There are existing, many schools of thought, contradicting one
another. Writing a book encompassing these theories and models is not an easy task. The author
tried his best. I hope readers will get benefitted out of this effort.

You might also like