Few simple Strategies to help the Millennials & the Gen Z youths on how they can start building their retirement corpus early by aggressive and disciplined way of investing. Starting with a monthly investment consistently for a long period to grow a huge corpus for retirement.
What is motorcycle as bare metal?
A two wheeler with an engine to rotate the wheel provided throttle, brake to control the speed. What is motorcycle engine(petrol engine or ICE) – motorcycle engines converts heat energy into motion energy. What is electric motor – a motor which converts electric energy into motion energy.
How motorcycle differs? They differ in engine capacity, engine tuning, weight, wheelbase, height, rider sitting triangle or sitting ergonomics, suspension tuning, tire grip, fuel efficiency.
Our feelings, emotions over motorcycle are pure delusions which our mind creates. Once delusions are faded away over a period of time, then we will see a bare metal with wheels, engine, throttle, brake. We do not feel carburetor or fuel injector, battery and other internal parts till they are working fine, like our internal body parts.
Motorcycle selling companies consistently create the delusions over bikes to keep their business profitable.
Life is full of delusions and delusions give excitement to living. Delusions are required to live the materialistic life happily. Delusion is natural and a biological necessity to keep the “life” continuing. We get the “feel of life” from our delusions, like we get the “feel of bike”.
How your money can make more money?
Learn how your money can make more money through savings, long term investments following budgeting rules of 60/10/15/15 from your take-home pay of your salary. Understand how your salary and take-home pay can help you build a retirement corpus with the right insurance and financial goals.
How to become Rich from salaried employee without any background or ancestral wealth?
In order to become rich from salaried employee without any background or ancestral wealth, you need three things in favor of you.
- You have to earn more than what do you need to live
- You have to invest the excess
- Your investment has to grow or appreciate
You have to earn excess, If you are in short of money/salary for your living too, then you will not have money for investment. So earn more than what do you need to live.
Invest the excess money in realty, gold, shares, mutual fund, bonds, in (your/other) business, in (your/other)company.
Your investment have to grow in value or appreciate in value. This is not in your control. Luck has to favor you in 3rd point. Various factors involved in the 3rd point which is beyond your control.
If you do the first two things correctly and then 3rd point also favors you, then you become rich over a period of time. You need to wait for some time for your investment to grow.
If you are not earning more than what do you need, then you can not invest the excess. If you are not investing, then there is no scope for growth or appreciation.
In order to taste the luck/appreciation, you need to invest.
Earn more, invest the excess, pray for appreciation of your investment to become rich.
But, if you want to live happily, enjoy, then SPEND the excess money. You have to earn more than what do you need to live. SPEND the excess to live happily. Spending gives you pleasurable and memorable experience in life.
To become rich, INVEST.
To live happily SPEND.
Choice is yours.
Note: Whatever is your salary, or how much is your salary… Your salary is not richness. It is a blunder to consider salary as richness. Salary is not a life long or evergreen income source. Salary will be stopped sooner or later.