wdfhdackhg fmrjokla

uydpd¾
uydpd¾h tka ã iurú
iurúl%u
l<ukdlrK wOHhk wxYh

fmardfoksh úYajúoHd,h
• fjf<`o
fjf<`o fmd<
fmd< wd¾
wd¾:Sslhl fjfik wm iefjdu
j;alï j¾Okh lr .ekSfï ie<ie<iqï l%shdj,shl
ksrka;rfhka fhoS isà¡
wealth building plan.

• th tla tla uÜgñ j,ska isÿfõ¡

fõ¡

• iuyrekg j;alï mrï

mrïmrdfjka Wreufõ¡
Wreufõ¡

• Tjqka ;u ld<h ;+, tla;rd j;alï m%udKhla

Bg tl;+
tl;+ lrhs¡

• iuyre kdia;so lr oukq ,nhs¡

 j;alï Wmojk ie<
ie<iqï l%shdj,sh l=ula
ulao?
• fuu l%shdj,sh werfUkq ,nkafkaa
b;=reï
reï ckkh lsÍu iu.sks
re

• b;=reï
reï hkq l=ula
re ulao?
• mßfNdack lemlsÍuls¡
• ;u wdodhu ish,a, jeh lsÍug ms<sjka lu ;sìhoS
hfula bka fldgila /iafldg ;nhs¡

• b;=reï
reï fkdlrK iudc tl ;ek m,a fõs¡
re
• wm%sldkq iudch fyd`o ksoiqkls¡
 flfkl=
flfkl= ;u mßfNdack lem lrKq ,nkafka wehs @

• wkd.;fhaoS j¾;udkhg jvd jeä

jeä wdodhula
n,dfmdfrd;a;=
;=fjka
fjka.

• b;=reï
reï ;sîu jQ muKskau wkd.;
re wkd.; wdodhu tu`.ska
j;alï o j¾
j¾Okh fkdfõ!
fkdfõ

• tA i`oyd ;u b;=reï
reï l%udKql=,j Wmfhdackh lr .;
re
hq;=
;= fõ.
fõ
• rgl b;=reï
reï lrKqfha ljqrekao @
re

my, wdodhï
wdodhïOdÍ
OdÍka - b;d wvq b;=reï
reï
re

uOHu wdodhï
wdodhïOdÍ
OdÍka - idudkH m%udKfha b;=reï
reï
re

by, wdodhï
wdodhïOdÍ
OdÍka - by, uÜgfï
gfï b;=reï
reï
re

wdh;k wxYh iy uyd mßudK wdh;k
corporate sector - uyd mßudK b;=reï
reï
re

• wdodhu je
jeää ÈhqKq rgj,
rgj, b;=reï
reï o jeä
re jeä w;r
wdodhï
wdodhï wvq fkdÈ
fkdÈhqKq rgj,
rgj, b;=reï
reïo wvq fõ.
re fõ.
Source: Accounting for the Changing Life-Cycle
Profile of Earnings_
Gueorgui Kambourov† University of Toronto
Iourii Manovskii -University of Pennsylvania
: October, 2009
mqoa.,fhl=
,fhl=f.a
f.a b;sßlsÍu Saving iy wmfYaIK
dis-saving Ôjk pl%h
j;alï f.dvke.Su

j;alï wmfYaIKh
b;sßlsÍï
Íï u.ska
j;alï f.dvke.Su

;reKú
reKúh ueÈ
ueÈ úh úY%dñl úh
 mqoa.,hka, wdh;k,
wdh;k rch ;u b;=reï
reï l%udKql=,j
re
l<uKdlrKh
l<uKdlrKh fldg wdfhdackh l< hq;=
;= fõ
• b;=re lrkafkl=
kl= we;s úl,am (
• ;u b;=reï
reï nqoaêu;a f,i m%fNaOkh fldg mj;ajd
re
.ekSu
Do NOT Put All Your Eggs in One Basket
nqqoaêu;a mqoa.,fhl=
,fhl=q úiska j;alï l<Ula
l<Ula asset
portfolio mj;ajd .kS
úúOdx.S
úúOdx.SlrKh lsÍu(
- øjHd;aul j;alï
- flá
flá ld<S
ld<Sk uQ,H j;alï iy
- È.= ld<S
ld<Sk uQ,H j;alï jYfhka
 ^1& øjHd;aul j;alï bvï
bvï f.dvke.s,s
Real State ksYap, foam, j,

• rgl mj;sk wia:djr foaYmd,k iy wd¾Ó

wd¾Ól
¾Ól
;;a;ajhka yuqfõ mqoa.,hka ;u b;=reï
reï
re
ksYap, foam, j, ;nd
;nd .kS¡

- Wod uE;la jk;=

jk;=re ,xldfõ
,xldfõ mßirh

• ysñ jkafka lsishï jQ m%d.aOk jdishla muKs

• tho tu j;alu h,s úlskSfuka miqjhs¡

• jd¾
jd¾Islj bmfhk wdodhï
wdodhï m%jdyhla fkdue;
fkdue;¡
^2& iuyre
b;=reï
reï .skqï" ia:djr ;eïm;=" Ndkavd.dr ì,am;a
re
jYfhka jQ flá
flá ld,Sk uqo,a fj<`o
fj<`o fmdf<
fmdf<ys uQ,H
j;alï f,iska ;nd .kS¡

• iuyre (tution .=rejre,

rejre ffjoHjre)
rejre ffjoHjre ;u bmhqï
CD Cetrtificate of Deposits j, mj;ajd .kS¡
th nÿ wjodkfuka je,lSughs¡

• fïjd ish,a, wjodku wvq uQ,Hh fuj,ï

fuj,ï fyj;a
WmlrK financial Instruments fõ¡
fõ¡
• Tjqfkdjqka tla tla f,ig wdfhdack ;SrK j,g
t,fUkafka tA Tjqfkdjqka oeÍ
oeÍug leu;s wjodkï
wjodkï
uÜgï u;hs

• wm iefjdu lkavdhï
vdhï follg wh;ah
vdh

• ^1& wjodku orkakka Risk takers/lovers

^2& wjodku u.yß
u.yßkakka Risk averters

fojeks mx;sh tl tl uÜgfï

gfï fõ
• wjodkug tfrysj rËKhg
Khg Insurance
b,aÆï
Æï lrkafkdahs
^3& wjodkï
wjodkï orkafkda wdfhdackh Investment lr;s¡

^1& øjHd;aul j;alï j, Physical Capital

^2& È.= ld<S

ld<Sk uQ,H j;alï Financial Capital
wdfhdackh lr;s¡
 È.= ld<S
ld<Sk uq,H WmlrK(
WmlrK(
- Equity fldgiays

Common stock- idudkH jHmdr fldgia

Preferred stock- jrKSh jHmdr fldgia

- Debt Kh WmlrKhkays
Debt instruments:
ms<skm;a iy Khlr jeks oE

Kh WmlrK flfrys lsishï wdrËwdrËdjla ta yd

ne`ÿ
ne`ÿkq ffk;sl ,shú,a, iu`.ska mj;S¡
 úúO
úúO wjodkï
wjodkï uÜgï orK mqoa.,hka 5 fofkl fofkl==f.a
f.a
woaoelSï ;=,ska wdfhdack jdis/ wjdis uek n,uq

• A wjodkï
wjodkï fldfy;au fkdorhs - bvï
bvï yd foam, ?%
• B wju wjodkï
wjodkï orkafkla idudkH ;eïm;= 6%
• C ;rula wjodkï
wjodkï orkafkla - NdKAvd.dr ì,am;a

^udi 6& 9%
• D jeä
jeä wjodkï
wjodkï orkafkla - uQ,H iud.
iud.ïï ia:djr
;eïm;= 18 %

• wjodkï orkafkla fldgia fjf<`o

E by, wjodkï <`ofmd<
md< 25%
wd¾Ó
wd¾Ól
¾Ól-foaYmd,k wia:djr jd;djrKhla ;=,
wdfhdack ;SrK .ekSu ^jir 2009 g fmr meje;s&

A, B, C, D, E g jd¾
jd¾Islj rems 1000 la ne.ska
b;sß lsÍug ms<sjka lu ;sìKs kï(

wjodku oeÍ
oeÍug olajk ,eÈlu u; Tjqkaf.a
wkd.;
wkd.; j;alï f.dv kef.k m%udKh ;SrKh fõ

jir 2000 isg 2010 Tjqkaf.a j;alï f.dvke.Su

my; wdldr fõ(
fõ(
 YEAR A B C D E
@ 0% @ 6% @ 12% @ 18% @ 25%
2000 1000 1000 1000 1000 1000
2001 2000 2060 2090 2180 2250
2002 3000 3184 3278 3572 3813
2003 4000 4375 4573 5215 5766
2004 5000 5637 5985 7154 8207
2005 6000 6975 7523 9442 11259
2006 7000 8394 9200 12142 15073
2007 8000 9897 11028 15327 19842
2008 9000 11491 13021 19086 25802
2009 10000 13181 15193 23521 33253
wdfhdack jdis
jdi 3181 5193 13521
23253
uQ¾; jdis 2741 4686 12737
22143
2000 isg 2009 olajd Tjqfkdjqka f.a j;alï j¾Okh
WoaOuk
u kh
ie,ls,a,g
.;a
.;aúg

A B C D E A B C D E
 wd¾Ó
wd¾Ól
¾Ól-foaYmd,k ia:djr jd;djrKhla ;=,
wdfhdack ;SrK .ekSu ^jir 2010 isg&

j¾;udkfha wd¾Ó
wd¾Ólh
¾Ólh úYd,
Yd, fjkilg md;%
md;%
fjñ
fjñka mj;S !

 hqO wjodku wjika

 foaYmd,k wia:djr;ajh wjika fjñ
fjñka mj;S
 wd¾Ó
wd¾Ól
¾Ól ia:djr;ajhla ,nñka isà
 rch wd¾Ó
wd¾Ól
¾Ól uQ,O¾
O¾u h,s ia:dms; lrñ
lrñka isà
Economic fundamentals
 • ish¿u fmd,S uÜgï my; fy,hs
- b;=reï
reï ;ekam;= 06 % muK
re
- NdKAvd.dr ì,am;a ^udi 6& 09 % muK
- uQ,H iud.ï
iud.ï ia:djr ;eïm;= 10 % muK f,ig
• m%d.aOk fj<`
fj<`ofmd
<`ofmd<
ofmd< Yla;su;a lrhs
• ia:djr foaYmd,k iy wd¾Ó
wd¾Ól
¾Ól jd;djrKhla we;s
lrhs
 fuh fldgia fj<`
fj<`ofmd
<`ofmd,
ofmd, ;=
;=, wjodku wvqflfrk
iy tys j¾Okhg fya;= ;= ldrl ;;a
;;a;ajhls.
• fm!oa.,sl wxYh ffO¾
ffO¾hu;a lrhs
A, B, C, D, E Tjqka iïm%odhslù óg
fkd.e,mqkfyd;a fju fjki Tjqkg flfia
n,mdú
n,mdúo@
mrK fmd,S ;;a
;;a;ajhka w¿;a fmd,S ;;a
;;a;ajhka
hgf;a hgf;a

A B C D E A B C D E
wjodkula .ekSug ìh A, B, C, D fjkia
jk ;;a
;;a;ajh yuqfõ mdvq ú`Èhs
úfYaIfhka D mdvq ú`Èhs

TjQka wjodkula .ekSu i`oyd fjkia

wdfhdack rgdjlg udreú
udreúh hq;=hs
hs

wm jeks idudkH wdfhdaclhka fujeks wjia:djl

l=uk
uk wdldrhg wdfhdack ;Srk fjkia fldg .;
hq;=
;=o@
• uQ,H wdh;k Finance Companies j, ia:djr
;eïm;== j, uqo,a ;eïm;a lsÍu wjodkula we;¡
we;¡
^uq¿ m%d.aOkhu jqj wysñ ù hdug iïNdú
Ndú;dj&
;dj&
• tfukau úfYaI jdishlao ke;
ke;¡
• fldgia fj<`o
fj<`o fmd,
fmd, wdfhdackh u.ska

uQ,sl m%d.aOkhg ydkshla fkdflf¾¡
fkdflf¾¡

ksrka;r fjkiajk fj<`o
fj<`o fmd,
fmd, jdis wdfhdaclhdg¡
lhdg¡

• WoaOuk ;;a
;;a;ajhl jvd WÑ; jkafka zia:djr
wdodhï
wdodhïZ bmhSu fkdj zúp,H wdodhï
wdodhïZ bmefhk
l%uhls æ
A,B,C,D wjodkula .ekSu i`oyd fjkia wdfhdack
rgdjlg udrefõ:
udrefõ wdfhdack úúOdx.S
úúOdx.SlrKh
b;+reï
eï NdKavd uQ,H fldgia
;eïm;+ .dr wdh;k fjfj<`o
<`o fmd,
fmd,
6% ì,am;a ;eïm;+ 25%
ne.ska 9% 10%

A 70% 15% 5% 10%

B 50% 12% 10% 28%
C 10% 25% 0% 65%
D 5% 20% 0% 75%
E 0% 0% 0% 100%
 A, B, C, D ;u wdfhdack úúOdx.S
úúOdx.SlrKh
lrñ
lrñka fjkia jk jd;djrKfhka jdis Wmhhs

úúOdx.S
úúOdx.SlrKhg úúOdx.S
úúOdx.SlrKfhka
fmr miq

A B C D E A B C D E
 fldgia fj<`
fj<`ofmd
<`ofmd<
ofmd< yryd
j;alï
iuqÉpkh

ld<h
 Tn {dKjka; wdfhdaclfhl=
lfhl= úh hq;=
;=fõ
fõ
• Tn wjodkug ìh fkdjk tfy;a Bg ,eÈ wfhla úh
hq;=
;=h ‘Risk taker’
1. iaajdêkj is;kafkla¡
2. Ñ;a;fõ.fõ. md,kh l< yels nqoaêu;a wfhla¡
3. wd;au úYajdihla we;s bjis,su;a wfhla¡
4. wdfhdack f,da,S wOHhkhg iy jeä jeä ÈhqKqjg
leu;s wfhla¡
5. wkd.;h .ek ksrka;r l,amkd lrK wfhla¡
6. fyd`o ia:dfkdaÑ; nqoaê n,hla we;s l=ula
ula l=uK
uK
fõ,djl l< hq;= ;=o okakd wfhla¡
7. ksrka;r l=;=y,fhka
y,fhka miqjk yslaóulska lghq;=;=
lrkafkla¡

jHjidhlfhl=
jHjidhlfhl= iy wdfhdaclfhl=
lfhl= w;r
iq¿ fjkila we;.
we;
An entrepreneur starts a business with the idea of
staying in it until the end that is either a success or a
failure.

An investor enters into a business with the idea of

leaving in the best of it and migrates to another
investment opportunity.
 Tn jHjidjlfhl=
jHjidjlfhl= úh yel.
yel túg Tng
m%d:ñ
:ñl fldgia fj<`o
fj<`o fmdf<
fmdf<kao

 Tn wdfhdaclfhl=
lfhl= úh yel.
yel túg Tng oAù;Sh
fldgia fj<`o
fj<`o fmdf<ka
fmdf<ka myiqlï imhd .; yel
ia;=
;; = shs