MONEY KI BAAT : Secrets of WEALTH Creation
Posted On March 23, 2019
WEALTH Creation is a dream , which normally every individual pursues. But the way of wealth creation & even the definition of WEALTH is different for different people . Here i am giving few tips of WEALTH CREATION which can help you to meet the desired goal.
1.To be honest in all your dealings. Your reputation is everything… the money will always come back faster to an honest person.
2.Write down your goals and check your progress daily. Revise your goals monthly and you will find that you exceed your goals rapidly.
3. At first Invest in yourself , than after invest in Mutual Funds & Equity
4. Saving habit of your 30% monthly earning is must for your good future
5. Let the tenant in the property pay your mortgage off for you as you collect rental income.
6. Start your own small business.
7.Pay additional funds towards your principal balances to reduce your debt faster.
8. If you buy and hold your investment properties, you should have adequate cash flow for your retirement years.
9. Buy the assets which appreciate in value, instead of wasting money on depreciating assets. Investing in Mutual funds for long term is an appreciation and buying high value car and electronics is a depreciation.
10.Hire a good CFP ( Certified Financial Planner) . He will council on some of your business and investment decisions as well as help you plan for retirement. That’s part of investing in yourself.
11.Buy quality, rather than quantity. Always remember quality is the only thing which paid in long term.
12.Realize what your time is worth: Time truly is money…invest it wisely.
13.Don’t marry for money. Money can come and go. Love and family can be there forever. Marry for love. Find a supportive companion and the money can come later.
14. Don’t invest for the sake of obligations. Remember your money is for your task accomplishment not for charity. Invest wisely as per your need and requirements , not for others.
15.Be very selective to choose your Health adviser( Doctor) , Welath Adviser ( Investment & Personal Finance) & Legal adviser .
Money is the important measure of wealth but money is not only measure of wealth.Great wealth comes from the small things in life that often come in short fleeting bursts. Spend quality time with family,kids,beloved one and laughing at stupid jokes with your friends till your sides are about to explode. These are the moments that you’re going to look back on in your last days. Past a certain level, money just becomes a number.
True wealth is be happy, doing what you love and living life the way you want. Money is just an illusion of success and wealth; sometimes the richest people are the most miserable. True wealth may be
The Greatest secret of wealth is keep your lives free from the love of money and be content with what you have. Everything follows.