In 2011 glittering fame was all around for Sushil Kumar, the first winner of 5 Crore Rupees ($1 million) in Kaun Banega Crorepati (KBC). A little over 3 years after he was given the prize money, he acknowledges that the spotlight had long gone. Pre KBC, he was a small time computer operator under MGNREGA govt. schema. But now, Sushil Kumar is jobless, with very little money at his disposal. You might be shocked to hear this and your next question is what did he do all that money in KBC? Sushil Kumar answers “You don’t get the whole 5 crore rupees. The government takes 1.4 crores as tax and you will be left with 3.6 crore” He goes on “much of that money is spent on building our own house, bought a plot of land and some agriculture land. Another big chunk of it was spent in setting up businesses for my brothers.” Now his agriculture endeavours are not giving much profits and he wants to become a school teacher. He even tried to join politics and Bihar’s ex-CM Nitish Kumar has roped him in to motivate young party workers. The lessons to learn from his story is that
- Strive to get a good financial acumen to protect and capitalize the resources.
- Invest in money making assets
- Don’t spend on liabilities (BTW, Robert Kiyosaki says your home is not an asset)
- Don’t put all your eggs in one nest, diversify.