Monthly Archives: November 2004

To Accomplish My Goals:

A million in liquid assets is an extremely lofty goal. Is it even possible? Of course. To make $1,000,000 in five years I will need to:

Save $200,000 per year

Save $16,666 per month

Save $3,846 per week

Save $549 per day

Keep in mind this is saving $X.XX per year and does not include expenses.

I mandatorily put away $400 per month for investing and permanent savings, and after I get paid (from any source) I put away 60% if not more. Since I started working, I have been putting away roughly $685 per month. My current savings per month needs to increase by 2,400% immediately to meet my goal by 27.

Stock Portfolio

After several bad and good trades over the last few years, my portfolio is several hundred dollars in the green. My current holdings are:

DYN – Dynegy – Good Performer

SYNT – Syntel – Good Performer

SCON – Superconductor Technologies – Poor performer

Contact

The easiest way to get my attention is to leave a comment on my site. All comments are emailed to me, even on old posts.

My contact info is located on my original website: Neville Medhora.
It would be easier to just give you my contact information here, but I want make you hunt for it.

I occasionally use Twitter primarily to mess with those screens that show your Tweet when you type in their handle:
http://twitter.com/#!/nevmed

NevBlog F.A.Q.

Why does your page look so simple?
-I’d rather focus on content than site layout.

You seem to be all about money. What’s up with that?
-This is a financial blog, therefore everything I write will somehow pertain to money.

I’ve noticed you don’t write too much about about current events, why?
1.) My opinion doesn’t matter unless I am going to take action on the event.
2.) It seems pointless to simply reiterate and comment on the news.

For a personal financial blogger, you do not seem to be very frugal.
-That’s because I have no trouble spending within my means. I spend in areas where it counts and I only will spend what I can truly afford.

Won’t all work and no play make Nev a dull boy?
-I work hard and play even harder. I also find being entrepreneurial to be “fun”. Working at a job is alright, but entrepreneuring is often enthralling, even when performing mundane tasks.

What are your views on the books “Rich Dad, Poor Dad” and “The Millionaire Next Door”?
-Rich Dad – I think it is a decent inspirational book that can novices start managing their financial affairs better.
-Millionaire Next Door – This is the way most Americans (or anywhere) with a steady job should live their lives.

What reading material do you like?

  • There are a sleu of blogs such as TheKirkReport I read everyday along with the basic newsources: CNN, NYTimes, BBC etc.
  • I print out and read the BerkshireHathaway notes to investors all the time.
  • Anything by Earl Nightingale should be plated in gold.
  • The undoubtedly best book I’ve ever read was “Think and Grow Rich” by Napolean Hill.  I have some other book recommendations here.
  • The Gary Halbert Letter (Google it).
  • I go to the public library about 3-5 times a week and find books of varying subjects.
  • Often I stroll through the stacks of the library, see a book that catches interest, then sit down right there and read the whole book.
  • I keep journals and write notes of most things I read….or at least put snippets of them in my iPhone.

Why should I take financial advice from you?
-You shouldn’t.

What was your major in college?
-Political Science with a business minor (from The University of Texas).

Shouldn’t you have gone for a business degree since you are more finance minded?
-No.

How often do you post?
-Every other day except weekends. I might post once a day if I feel like it. No, scratch that…I’ll post whenever the hell I feel like it.

Do you report EVERY penny you have on the site?
-I (used) to post accurate information about many of my accounts.

Do you post all your business adventures on the site?
-No. Many of my ventures are not posted as some require a certain level of anonymity for different reasons. The best stuff is often the most confidential.

What is the purpose of this site?
-I created this site for one selfish purpose, to keep track of my fiancial progress.  If someone learns something in the process, that’s a great bonus.

NevBlog Links

This is where I will put any links.

Disco Balls – The best selections of Disco Balls on the internet, including full mirror ball sets that are ready to light a party.

Glowing Fingernails – this is a really cool item on House Of Rave that was recently added. It’s a set of 10 mini-glowsticks in fingernail form that you affix to your fingers with the included self-adhesive strips. A really cool product!

Glow Bracelets – A tube of 50 glowing bracelets.

Oggz – Oggz Color-Morphing Eggs. Oggz are soft, ever-changing accent lights that operate without wires and are rechargeable! Watch the Oggz slowly change color like magic, transforming colors through the whole rainbow. Oggz are ideal as a centerpiece for your dinner table, outdoor patio parties, holidays, and more… and of course, we clubbers can just imagine the cool possibilities of taking the soft squishy Oggz with us to a club and watching the crowd just go nuts for this unique light.

Burning Man Lights – Lights and equipment for Burning Man.

High Intensity Glow Sticks – Crack these glow sticks and they last extremely bright for about 30 minutes before fading to the intensity of a regular glowstick.

Party Strobe Light – If you’re throwing a little shindig and need a strobe light, this is the page to find it on.

Finger Lights – Lights that slip onto your fingers to illuminate whatever you want.

Disco Ball Set Up – If you need to know how to setup a disco ball, this is the place. We’ve got a quick tutorial, and also the disco balls, motors and lights you need to setup a disco party.

About Me and This Blog

Name: Neville Medhora

Age: 27

Location: Austin, TX.

Ethnicity: Indian

Religion: Parsi Zoroastrian

Occupation: Entrepreneur.  Notably HouseOfRave.com (how it works)

High School: Langham Creek High School (Houston, TX.)

University :
University of Texas Austin, graduated in 2006 in Political Science and Business minor.

Instruments Played: Guitar, Bass Guitar, Doumbek, Piano, drums. A little bit of harmonica. Not great at any of them, but if it makes noise it easily amuses me.

Idolize: People who are self-made.

This blog was originally started for the sole purpose of keeping a track of my financial goals and status. I often use this blog to look back on what I was doing at (x) time this year, so I try to keep it populated with financial events in my life. Occasionally I try to help people learn something new.

Here’s a quick story of how I got started in entrepreneurship.

After reading my blog, many people have personally told me:

  • This blog was their inspiration to start their very first business and quit their job (because of this).
  • They started eating better and lost weight (because of this).
  • They think I’m awesome (for actually TRYING things instead of just talking about them like this and this).
  • They think I’m horrible (because of things like this).
  • Think I have too much time on my hands (because of stuff like this).

Current Financials

Money sources:
Online Business: $300 to $1000 per month pure profit.
Work: Two paydays per month, usually between $230 and $320 per check.
Parents: $60 per month.

Where the Money Goes:
Permanent Savings: Deposit $40 per week + 30% of money brought in.
Investment Account: Deposit $60 per week + 30% of money brought in.
Spending Account: Deposit $10 per week + 20% of money brought in.
General Account: Whatever is leftover from business + 20% of money brought in.

Current Assests:
General Account: $1,349
Business Balance: $652
Spending Account: $371
Investment Account: $963
Permanent Savings: $2,654
Backup CD Savings: $5, 036
Stock Portfolio Value: $5, 094
Credit Card Balance: $0

Synopsis:
Monthly Mandatory Additions to Perm. Savings: $160
Monthly Mandatory Additions to Inves. Account: $240
Monthly Mandatory Additions to Spend Account: $40

My Goals

Short Term Goals:

  • Ideal Goal: By December 31st, 2005, I should have at least 3 different sources of steady income (not including a job). All sources of income should together average about $7,500 of dependable income per month.
  • Minimum Requirement: By December 31st, 2005 I should have found a way to independently pay all my bills/expenses for myself and have money leftover for investing, savings, rainy day and spending. My liquidable balance should be slightly over $45,000 with an investment portfolio of at least $25,000.

Medium Term Goals:

  • Have at least 4 different sources of income, balanced in different industries to survive good and bad markets.
  • Accumulate somewhere near $1,000,000 in liquidable assets by age 27. This includes cash savings and stock.
  • Get mentioned in at least 5 of these sources by age 27: CNBC, New York Times, Business Week, Wall Street Journal, CNN, The Register, The Financial Times, Yahoo News, Google News, Bloomberg, BBC, Wired, Popular Science, Popular Mechanics.

Long Term Goals

  • Form Enwon into a conglomerate with at least 5 different subsidiary companies under the corporation. Companies will be balanced in different industries to survive good and bad markets. These would most likely include the liquor industry, asset management, 2 inventions in the consumer products area and real estate.
  • Follow plan outlined in my aspirations

First Post

This blog will be dedicated to tracking my financial progress. Today I turn 22, let’s see how far I can financially advance by the time I am 23.