The sad story of today’s youth
Ajay: Lets get some beers this Friday night and we will party in that new pub that opened up recently.
Sonia: Sounds cool. I will call some of my friends.
Ajay: Same here.
This is the usual scene for today’s youth. Week after week.
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Frankly what’s wrong about this lifestyle? Isn’t this exactly what we wanted since the time we were teenagers?
Well its good to have fun but its also important to retrospect once in a while.
You are 24, working in a well established company, earning good bucks. What’s next?
You see movies like Zindegi Na Milegi Dobara, Yeh Jawani Hai Dewani and plan to go to every nooks and corners of the world, do the exact job that you love, #travel #food and what not.
Lets be practical for a moment, are you doing the job that you really want to do? Do you have enough money to go to Spain? Not at the moment, right?
So what do you do now?
YOU BETTER START PLANING FOR YOUR DREAMS
Take out a blank page and write all your dreams. Be it going to Europe or buying that Honda City, or buying a house for yourself. Put it like:
- What? Be precise. If its buying a car, write what car you want! (Thats your GOAL)
- When? Write a GOAL date. Try to be precise here as well.
- How? much money do I need for that? (Remember it might increase by the time you are going to do it. Calculate for that.)
Now is the time, when everyone usually says start saving for it. I wont.
Know for a fact.
YOU CANT SAVE AND BE RICH AND FULFILL YOUR DREAMS.
You need to make smart money decisions for that.
If you are planning to buy that car 10 years later and the cost of it will be Rs 18lakhs (say), you need to save Rs 15,000 per month for the next 10 years. Ouchhhhh! That hurts!
Thankfully there are better ways. If you invest just Rs 6,000 a month (Rs 9,000 less per month) for those exact 10 years, you will have approx 18.5 lakhs. Not only you have enough money to buy your dream car but also some extra….for petrol may be? o.O
The idea is simple. Start young. Start investing. Soon you will realize that even when you are sleeping your money is working for you. Thats how rich people become rich, and get what they want. If you think that your father or grandfather has lost money in investments, then he was greedy and wanted to double his money in 1 month or so. That simply doesn’t happen. Investment is a business and just like any business it takes time to grow. Give it the time it requires. Be patience. You studied minimum of 15 years (class 1 to 12 + 3 years bachelor degree) to earn what you are earning now. You know how hard it is to make money, the effort it takes, and the time it requires.
Hope you take wise decisions in life.
Just a well wisher of you all.
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Signing off,
Sandipan Mitra
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