Skip to main content

Essentials of Building Wealth – “The Goal”

As emphasized in these post, The essential of building wealth is to Invest Systematically while controlling your expenses. On top of this foundation comes Your financial goal. Its necessary to have a Goal of where would like to be in say 5 or 10 Years.

Too often Financial Goals are in the form of specific amount that one wants as Bank Balance. The problem with this Goal the person is just keen on Earning without looking at the expenses.And many a time , it will lead to frustration and loss of focus.

Personally, I think a better Goal would be to be come “Financially Independent” in a period of say 5,10 or whatever period. “Financial Independence” means that your returns on Investment take care of your Food, Shelter ,Clothing & Other monthly expenses giving leeway to pursue your passionate things in life.

When you have this goal, you would not
-Opt for an apartment with extra-room when two will suffice
-buy the latest mobile, while the one in your pocket is serving your purpose well
-Eat out frequently when you have the Time to prepare your own meal

Instead you would see that
-that your Debt is Melting away
-Investing systematically without worrying about timing the part
- leading a enriched life where you have the freedom to pursue your passion

So, Think about the “Financial Independence” Goal, You would get a very new perspective of Wealth creation that has potential to change your life for Good.

Comments

Popular posts from this blog

How to live on 24 hours a day

Arnold Bennett was a prolific author in the early 20th Century. I read his book "How to live on 24 hours a day" He explains his process in his book : that resulted him in being a prolific author: following are the learning: even in the busiest week, find 7-1/2 hours of time beyond the work ; Focus those 7-1/2 hours on thinking Time practice honest self-reflection using the below questions: what do want for yourself? what motivates you? what scares you? what embarrasses you? What are you proud of? What beliefs do you have that might be wrong? Are you caring for yourself or harsh with yourself? Authors Arnold Bennett      

Repeat the Basics!

When you repeat the basics You don't only become great - you will stay great! -Darius Foroux Repeat 🔂 the basics of many things in your Life: 1. Fitness - Walking  2. Philosophy - read your favorite Author - everyday! 3. Kindness - random act of giving  4. Business -  What is the purpose of business? 5. Writing  -  Read the "The Elements of Style - Strunk & White"  Its very simple : Figure out the basics of the given field : 5-6 principles And repeat them day after day Back to the Basics! If you do so , you will lead a life with chronic White-belt mentality 😅 leading to Humility  even if your performance is that of a Master Black-belt! If you do so,  you not only become an expert of the field you will stay as one!

Focus

  Focus on 30 minutes at a time on a given topic with concentration The Human Machine Arnold Bennett My Habits: 30 minutes of walking 30 minutes of reading 30 minutes of Yoga 30 minutes of reflection 30 minutes of focus on each task -with concentration Say to your brain - FROM 9:AM TO 9:30 AM THIS MORNING YOU MUST DWELL WITHOUT CEASING ON A PARTICULAR TOPIC THAT I WILL GIVE YOU Authors Arnold Bennett