The Hindu Business Line : On how to become richer and happier

BORN `with cerebral palsy and hemiplegia, acute paralysis of left arm and leg', as son of `a labourer and a domestic cleaner', and offered at the age of six `a place for life in a residential home for the seriously mentally or physically disabled'. Not a sob story, but the early bio of Barrie Pearson.

He `graduated in theoretical chemistry, became a qualified accountant'. In 1976 he founded Livingstone Guarantee, "the first corporate finance boutique in the UK which became the largest and most successful in the industry," as his book "Serious Money," from Viva (www.vivagroupindia.com) informs.

"At any age from your teens to a senior citizen, this book has the power to guide, to motivate and to inspire you to become seriously richer and happier," assures the intro. No gimmicks, only `simple, practical and proven techniques' liberally offered throughout the book.

"Identify and pursue the jugular vein of opportunity in any situation," reads one such. "Always assess the downside risk and have a deliverable contingency plan in case of failure, even if the possibility is remote," advises another. "Never ever buy shares as a result of an unsolicited phone call giving you a hot tip which is about to take off," cautions yet another.

The book is divided into two parts, for balance. The first is on achieving wealth and success you've always dreamed about. For this, begin by taking stock and setting your financial goals. Aim at minimising your borrowing costs and improving the return on your savings.

A chapter titled `vital touchstones to create serious wealth' starts on a philosophical note: "Get to really know yourself." How? By finding answers to the following questions: "What is holding you back from being wealthier? What is letting you down? What mistakes do you repeat?"

Make a poster of this exhortation: "Ask yourself: What major opportunity is staring you in the face?" Remember that self-esteem is the difference between winners and losers, and that "good luck is an attitude of mind".

To the disabled, Pearson shares his wisdom thus: "Regard disability as an unfair advantage." He says, "Stop even mentioning your disability, get on with what you want to achieve and you will gain huge respect... People are on your side and want to give you the opportunity."

For a solid foundation, "do yourself some valuable favours." These include meeting and learning from the rich and the influential, networking seriously, investing in your appearance, developing poise, and improving your skills and qualifications.

`Your home is probably the best `proven' opportunity over the long-term,' states Pearson, when discussing how you can develop your house. For instance, "Adding a bedroom, a bathroom or a garage is likely to add net value, whereas turning two small rooms into say, a larger bedroom may reduce value."

Also, "Expensive and indulgent makeovers of a kitchen or bathroom are likely to exceed the added value." On gold, the author's tip is to go for ingots, because "jewellery is an indulgence not an investment".

The author invites, `Get to the top.' But that presupposes you develop certain traits. "Be unswervingly honest, loyal and reliable," he instructs. "Honesty is more than not stealing from your employer, it is about intellectual honesty and acting with integrity as well... Reliability is a vital quality which is valued at every level in any organisation."

Become a resultaholic not a workaholic, says another diktat. "Twenty per cent of the time you spend working delivers 80 per cent of your contribution." So, if you cut back on the less important tasks, "you could save from 10 to 30 hours a week."

Coach and train people to take over your job, so that you can reinvent your role to make a more valuable contribution!

"Offer to take on some of the tasks carried out by your immediate manager, especially the ones he or she dislikes doing. In this way, seek to learn new skills and more varied experience." Learn also, to think, talk and act strategically.

Part two of the book is on becoming truly happier as well. This begins with managing your health. "A combination of sensible living, moderation and balance is likely to pay huge dividends."

Pay attention, therefore, to weight, diet, exercise, leisure, and so forth. "The key to exercise is that it should be regular, enjoyable and result in breaking into a sweat but not finishing exhausted."

A chapter on investing time in family and friends reminds that becoming richer and happier should go hand-in-hand.

"Some couples spend a lot of time together and never really communicate. Effective communication in a partnership is not just about relating the events of the day to each other or discussing topical issues... It is important to understand your partner's feelings and to be sensitive to any signals."

Serious read!

BookValue@TheHindu.co.in