If You are just starting out on your career the book “MAD MONEY JOURNEY” by Merad Irani might not look to be on your priority list. You might even consider it a book you could read on the site. Nothing could be farther from the truth. I consider you to be by now a “committed” career hotelier, who has made the decision and is already progressing into a promising International or regional career in one of the top global hotel companies. Whatever you have decided to become, am Executive Chef, a Director in Sales or in Marketing, a hotel General Manager, a Vice President or the CEO of Hilton Hotels, there is one thing, one single item on everyone´s list which will be with you throughout your entire career. , even – and especially the time when your career is over. That is a reality which you simply must prepare yourself for.
I will make it short this time. It is a simple yet complex subject and there are thousands of books written about it I am sure, they all offer something for most of my readers. The book from Merad Irani simply tells a story of an Indian Doctor who is hospitalized and realizes that he is ill prepared for the time of crisis. His childhood friend Vijay sends him on a journey to meet 10 successful money managers and entrepreneurs, each of them introducing our doctor to a different dimension of the “Mad Money World”
You will most likely be a very successful hotelier, I have no doubt in my mind, but being a successful hotelier, does not make you a successful money person. Just as the right medicine is required to cure a disease, you need to know the various applications and rules of money to solve your present and future various issues. The book is most entertaining to read and will introduce you to the world of money and the various aspects of financial planning. Mehrab Irani is General Manager – Investments with Tata Investment Corporation Ltd. He is also the author of the well acclaimed book “10 Commandments for Financial Freedom”. And I got to know Merad personally during my time with the TATA company.
In my earlier Blogs I was writing that You should plan your career in such manner, that You would be able to retire by age 55. This is without doubt possible if You invest the time to learn about money and investments. This book is a great entry. It describes perfectly situations which probably everyone will encounter during and after their careers. Whatever the reason was why you have become a career hotelier is in a way your very personal reason and desire. I do not think that I am speculating that for everyone money and building wealth plays a role in this. For some the reason might be to earn as much as possible, for others a completely different one. As for myself, my desire was to see the world, work in as many countries as possible, learn about other cultures and people and eventually be able to retire with 55. My financial plan was straightforward and simple. real estate, cash, fixed deposits, gold and stocks. Indeed, I could have retired with 55. However my decided otherwise and kept working. I am still working today. Mehrabs book can serve you well and its easy and entertaining style makes an introduction into the world of money easy.
Let´s face it. You have chosen this career path for your personal reason. Whatever this reason may be, it is not important. You have entered an industry which is one of the most interesting industries one can imagine. It is also an industry which is known not to pay the highest salaries and incentives. Depending on your chosen path, position, country and cost of living circumstances you will have to evaluate your investment options and needs. This book will help tremendously to get into the matter. (Which many want You to believe is a science by itself – especially investment firms, brokerage houses and online-investment Gurus) BE WARNED ! There are some real good ones out there, but without any previous knowledge and understanding the rules of money and how money works your chances to become a financial victim are high especially in todays highly digitalized and transparent world.
I am not sure, what your financial background is. If you come from a well off family or if you had to observe your family having to struggle financially. No matter what your background is, chances are high, that you will improve this in your own career and life. The first thing is simple, You need to enter the world of money by understanding it and the rules which govern its system. There is another book, which you might know already. “The richest man in Babylon”, its an evergreen and should be read by every child to begin with. However “A Mad Money Journey” is a really good introduction to the financial universe. And if you are a hotelier, a doctor, a scientist or an artist if you want to built wealth and you want to preserve our wealth during good times and bad times, my friend Mehrab´s book is a real good starter.
You know the words, Time is Money. Do yourself the favor and incorporate these words into your daily routine. Time is indeed money and the one and only thing in the world you cannot really buy. With y blog on thecareerhotelier.com I have committed myself to help young hoteliers on their journey . One part is to speak about certain books and their value to you. This one will be a pleasant and easy read and should be as a hardcopy on your bookshelf and stay with you for your repeated reading.
I know you will make the best out of it. Have a great journey ahead of you and share my Blog with other young hoteliers. I will be there to assist, mentor and guide.
Helmut Meckelburg