When Ashwin Sanghi wrote 13 Steps to Bloody Good Luck , he thought it was a one-off book. “But it did really well. A lot of young people wrote to me, asking for various topics in a similar format, because they felt it was a simplified way of demystifying complex topics,” he says. The author of bestselling fiction such as The Rozabal Line , Chanakya’s Chant and The Krishna Key , is in Chennai today to launch his second non-fiction work, 13 Steps to Bloody Good Wealth, written in collaboration with Sunil Dalal.
Sanghi says that the two key things that people look for in life are health and wealth. Apart from these, the other topics that are currently in various stages of being written and edited are communication and parenting. “Ideas and practices that would seem like common sense can sound absolutely new to some people. This is like a For Dummies or Chicken Soup series, with advice and practical solutions from people who are in the know, but may not necessarily know how to convey it effectively. That’s where I come in,” he explains.
With regard to the co-author of the latest book (published by Westland), Sanghi says, “Sunil and I have been friends since our school days at Cathedral and John Connon School, and later at St. Xavier’s College in Mumbai. With discipline and perseverance, he has built and managed his own wealth, along with that of his family’s.”
When he was initially asked to write, Dalal was hesitant, stating that he had no MBA in wealth management, nor is he a chartered accountant. But that was the reason Sanghi wanted him to be part of the project. “When you involve a banker or anyone from the industry, there tends to be a lot of jargon, which can go over people’s head. We wanted to simplify it for the layman.”
The book follows the usual format of 13 steps, starting with defining what wealth means to you. For perspective, Sanghi says, “In a survey conducted by UBS, Americans with assets of one to five million USD were asked if they considered themselves wealthy. Only 28 per cent said yes. So, wealth is a relative term. Only you can decide what it means to you, and accordingly, implement a plan.”
There are spending charts and plans, and tips on how to prioritise investments, earn extra money and even how to beat inflation.
How about demonetisation? With his hearty laugh, Sanghi says, “If you are sitting on cash, then frankly, with every minute that ticks by, you are actually depleting value.”
While towards the end of the book, things get a tad technical, it is still a useful primer for the perpetually-broke millennial, and those who think they can’t make money. Even with these tips, Sanghi says, “There’s just one thing: you need an abundance of: patience.”
