How to become wealthy ?!

 

Wealthy , we all wanna become that, right? But are we all ready to give what it takes..? In this article i will tell you secret which know one says!!!

Very few people are ready or willing to do that , that’s why 1 in a million is really wealthy !

If you are an adult and your age is between 17 to 22 then you can consider yourself  in . This age groups people spend more and save none …so the first thing you should do is SAVING ,This will put you one step ahead then majority of people . The second thing you should do is Learn more , enhance your knowledge , talk to more people try to learn from there experiences .A kind suggestion which I would like to give is stay away from girls or do not try to fall in love because in this period you think its love but actually its just attraction and the probability is more that you will fall in love with wrong girl and that will lead you to depression ….                                                                               

  Now lets come back to topic, You should try to find your passion and give your 100% to learn and become expert in that. There has been a research and its called as 10,000 Hours Rule and according to that if you want to become expert in any field then you have to give 10,000 Hours of learning … This is hard but this is what it takes ! Now why am I talking about Passion and becoming expert in field is because if you are an expert then employers will pay you handsomely and If you become expert in any field then you will see things in your field which needs to change and you can start your own business too! Now how to build your empire… for that I have already said that

 Save more and spend less , some people will say “ I have been saving money since I was 25 and still I am not rich ”, They are right but the thing they missed is INVESTMENT , they saved the money but didn’t invest it.

Now you got fund which you should invest in Assets . Now what is asset , An Asset is something which we buy with the hope that it will generate some income and appreciate in value in future. Some examples are Gold , Stock, Real estate etc. I have already assumed that you have taken life insurance . Before investing money make sure you have created an emergency fund to fulfill your 3 months of  your basic necessity.                                

Diversification is needed whenever you are doing investment . Because diversification reduces your risk and actually it divides your risk in different assets.

Now lets divide your 100% of your capital into different assets ,

•  40% in index fund (15% average return)       
•   10% in Precious metals ( Gold .
• 10% in Fixed deposits.
•  20% in government bonds.
•  Remaining 20 % save every  month to buy realestate property or land.

If you have some decent knowledge of stock market then you can invest majority portion of your savings in stocks . Stock market is risky but if you are value investing then it is most recommended . Stocks will not make you rich overnight but it will make you wealthy in time , because you are not just buying any asset ,  instead you are buying ownership in company .

Generating wealth takes time , so don’t be greedy and put 100% of your savings in stocks … Be realistic and expect realistic returns .