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Money is very important in today's time, to be honest. It's a very materialistic world out there. And yes, all that I have - my cars, my houses - all costs money. Nothing comes free. The way the world is moving today, especially in a city like Mumbai, it's all about money and money.
I am not one to flaunt my wealth and throw my weight around. My father is a self made man and he has always taught us to be humble. We still have our middle class roots intact. But yes I work hard and so I have the right to spend on myself. By the grace of God I've always had enough.
Money can't buy happiness. In the same manner, happiness can't fetch you money. Some people are happy with smaller things in life, where as some are happy with big picture in life. Money does buy you luxuries and comforts in life. And especially in a city like Mumbai where one's social status is measured in terms of the number and kind of cars, houses, club memberships and so on, money does play a very big role.
I have always saved for the rainy day. I have enough financial planners in my company who advise me day in day out. I think the biggest family investment is our pharma company. I don't trade in the stock market. Neither my father nor I understand it. We have invested outside too but pharma is the core business. Having been in the media and entertainment business for so long, a production house was the natural progression, followed by an entry into the fine dining restaurant business.
We have consultants who advice us. Today, Elder's is going to become a Rs 500 crore company. And who knows tomorrow we may be a Rs 1,000 crore group in the market.
I am not a spendthrift. But yes, I love cars and clothes. I like watches and I am not telling anyone how many I have (laughs joyously). I travel for business and very rarely I go on holidays. As a matter of fact, I don't think twice before spending money anywhere (laughs uproariously). All said and done, my parents and family are my priority. And yes, if some friend in need requires my help I won't think twice
I would like to inculcate my money values in my children. My father has given me everything. At the same time he never lets me forget where my roots are. I've had a better life than my father. I assume and I hope that my children will also have better lives. But at the same time I would like them to know that their father has worked hard. They will have the best of everything, but they should value its power.
I think in today's world it's very easy to get conned into putting money in the wrong places. Fly by night schemes are very alluring and at the same time, very dangerous. So, if people have money they should go to the right kind of wealth advisors and planners, so that they can invest in the right ventures. Be it short or long term, be careful with your money and respect it all the time