it is always difficult to make a pitch for the average reader. I have no clue who is the average reader of my blog is. I know that there are PhDs in finance, Physics, Chemistry, Mechanical Engineering who read this..I know there are kids in class 10 who read this..so
Yesterday I got 2 mails / comments one said
a. your blog is too simple and the second b. your blog is too complicated.
I could not agree more. This is like being asked to speak to school – and all the kids from class 1 to class X being the audience.
It is really difficult to address such a crowd because if I address the class V student (see misuse of average!!), the class 1 student will not understand anything, and the class X student will be bored.
How does one handle this? I know not.
But here is an honest attempt.
How to get rich?
Is this a fair starting point for any young person starting with life? I guess so.
Let us what makes us financially rich. Obviously it is the having of money. Money buys you security and a chance to do what you want rather than what you MUST.
How does one accumulate money over a long period of time?
That is right. LONG PERIOD OF TIME. Creating wealth in the short run is every man’s desire, but does not happen. Unless of course you are a successful film star or cricketer.
The steps are:
1. Earn a lot of money (beyond the scope of this blog!)
2. Manage your money well (hey! )
3. Learn about risk and protect yourself from risk
4. Have the wisdom to know that getting 8% from Public Provident fund is easy, and earning 12% from equity markets is BRILLIANT over a 40 year life period. It can make you seriously wealthy.
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