Everybody have this desire to get rich rather quickly. But that needs a miracle and strikingly enough; it is possible through proper wealth creation efforts.
If you stick to your investment targets ingenuously, skillfully and discreetly, then you are at the door steps of success to realize what you plan and propose to achieve. Let us analyze and some basics:
Inculcate the spirit of saving right from when you are young
How many of us remember Sanchaika.. the good old savings schemes when we were children in our schools? Where is the habit gone now? The success of wealth creation hinges on investing from young. So, what are you waiting for? Start applying right away to start SIP in Mutual Fund. Please bear in mind that the power of compounding fetches you miraculous RoI over long term. Therefore, postponing one’s investments/savings is not a wise thing to do and such procrastination can only jeopardize your financial security.
Demonstrate Love – Insure your family
The best kind of health insurance is investing in a comprehensive policy which includes your near and dear ones, so that they can get the benefit of life / medical cover during times of crisis.
You are unique in your own way – Why should you impress others?
It is commonly seen that people in the 22-28 category have bloated egos which implore them to impress their colleagues / friends with their over spending. This might prove detrimental to ensuring their financial security. It’s your life “After All”. Let your friends flash with new gadgets and pay for the price of not starting to invest later, when they will be old…
Constant improvement should be your Mantra
Strive always to become the best in everything; be it is on saving, health or investments. The process of achieving your target by itself is a goal which ignites our expectations, motivation, and curiosity and stimulates one’s interest.
Be superbly focused
Always be focused on what you wish to achieve and have the necessary will to augment your expectations. In the same vein, you should also be alert to negative churnings too. So, the thumb rule is “you always tread with caution”.
To be continued in our next few blogs.
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