Let us see…getting rich is easy is it not?
Get a good degree ——> It will lead to a great job—-> You will earn a lot of money —-> You have got rich.
This is one route. Well there are some issues – every body cannot get a good degree..so the scheme is torpedoed at the very beginning itself.
Set your goals, invest in a mutual fund, do a SIP in a good fund, review your portfolio every 3 months (monthly is bad you see), shift portfolios, churn managers, subscribe to the bank’s monthly magazine. We will tell you how to invest every month…and then sit back and relax. Well have you heard this before? I bet you have. It does not work, at least for most people this does not work.
If you ask me the most important step in getting rich is in getting a good financial planner. A guy or gal who is on your side. Fully on your side. This means a fee charging planner who does not sell the product – directly or indirectly. Such a person is difficult to find.
Once you find him ask him how much TIME he is willing to spend with you. And what fee does he charge. Too low is scary (how long will be here?), too high is not worth it (catch 22!).
Stick to simple things – low cost large funds in equity, a term plan, one credit card, that is all…after all like Leonardo Da Vinci said “Simplicity is the ultimate Sophistication”. KISS works here too….so if your Fin Planner suggests, Nifty linked debenture, PMS, F&O, commodities, …you know what to do, do you not?
Post Footer automatically generated by Add Post Footer Plugin for wordpress.