Pen&Paper

I know the reason why most of you are reading this, it’s the itch of getting rich quick, that has brought you here. Wealth is very tempting for anyone to ignore and so the curiosity is understandable. But, let me disappoint you by saying that, “There is no shortcut to wealth” unless you are planning to rob a bank. It’s difficult to be rich but is it impossible?? Absolutely not.                 

Nothing is IMPOSSIBLE to the person who backs DESIRE with enduring FAITH.

In this article, I am going to give you insight on how with some basic tips (that you were ignoring till now) and your DESIRE, you can achieve the richness that you seek.

1:: DESIRE and FAITH

DESIRE is a very powerful virtue and if it’s assisted by continued FAITH, it can move the mountains. Your DESIRE to become rich and your FAITH in yourself, that you can get there will take you to your goal. We all DESIRE something but only those who have FAITH and work hard for that ultimate goal achieve his/her DREAM. 

#2 :: COMMITMENT & DISCIPLINE

Getting rich is not the touch of a magic wand, it’s a journey. You need to be patient and disciplined. The moment you decide that you want to be rich, you need to have a plan and discipline to reach there. It requires a continued commitment from you, in the form of the regular habit of saving a portion of your income in acquiring assets (we will know about assets in detail in a later stage). The moment you inculcate the habit to save or invest, your journey to wealth starts. I know you must be thinking that everyone knows this, what’s the point. I will request you to hold your horses and continue reading.

#3:: SETTING REALISTIC GOALS

When we talk about getting rich, it’s very normal to be swayed by the dreams of big bungalows, supercars, and lavish lifestyles but we should focus on having discipline. It is very important that we set realistic goals with a timeline and stay focused on the journey rather than the destination. We need to look at how much we can spare to invest. We should set smaller targets at first, and as we move ahead our targets can grow bigger. Setting smaller targets is important because it’s easy to achieve and the sense of achievement in the early part of the journey motivates you to stay committed.

#4:: APPETITE for RISK

Higher the risk, higher the reward. Yes, it’s true, and very realistic as well. The moment you start investing for your dream future it’s important to decide as to how much risk you can bear with your investments. There are tons of investment classes that offer different rates of returns based on the risks involved.  From banks FD to mutual funds and from buying stocks to investing in cryptocurrency the choices are plenty and at your disposal to be chosen from. It is up to you to decide where you want to invest. Being informed or taking the help of your financial advisor is very important while making that decision. You must be aware of the disclaimer, “INVESTMENTS ARE SUBJECT TO MARKET RISK, READ SCHEMES RELATED DOCUMENTS CAREFULLY”. RISKS are inherent in everything we do and it’s inevitable in the financial market, so making informed decisions are vital. 

One important thing to understand here is that we should have a better understanding of ASSETS and LIABILITIES.

ASSETS::  In simple terms assets bring money to your pocket I.e. Your investments on which you earn some return.

LIABILITIES:: Liabilities are something that takes the money out of your pocket. i.e Loans, maintenance of house, car, etc

#  Always try to acquire more ASSETS and keep your LIABILITIES under check.

Hope this article will be of assistance to those who are seeking fortunes. So to all those seekers of wealth, DESIRE what you seek, have relentless FAITH, do the hard work and the FORTUNE is all yours.