187. The Right Thing to Do

"To know the right thing to do and to fail to act is cowardice." - Confucius

A perfect example of this is the story of the King's Bargain - A king in India decided that he would pass a law that everyone selling goods in the market should have all their produce sold and if it didn't sell he would buy it all. Some criminals decided to gather up all the rubbish and claim that this was their produce. When the market closed they offered it to the king's officers who told them to go away but they insisted that the king had given his word. The officers told the story to the king who thought about it and said. "Yes I have given my word. Pay these men for their produce." This went on day after day and soon the palace filled up with the rubbish from the market. His wife couldn't stand it any more and she left him. One by one his staff left him until the king was left alone in the rubbish-filled palace. Finally Self said "I am leaving you too." To which the king said "No you cannot leave. I have given my word and I have kept to it even though I knew what would happen." Self then replied "You are right, I cannot leave for you have kept your word." Self stayed. One by one his staff returned and finally, his wife came back because they all admired the man who had been brave enough to keep his word.

186. Offshore

Consider moving your domicile (official country of residence) to the Channel Islands - Gurnsey or Sark for instance, as the Tax implications are favourable. Sark has a 0% Income Tax rate while Gurnsey is 20%. Do your own research to check out the feasability of such a move. There is a good ferry service and Gurnsey has an international airport. (From the Financial Times)