Your 9 to 5 job will never make you rich

Your 9 to 5 job will never make you rich, here's why?

Right from our childhood, we are taught to work hard, obtain high grades and secure a good job. Educational courses comes with a promise of annual package one may bag after graduation. But, the question of so many educated unemployed & financially struggling people is still unanswered.

It is not a mystery that 90℅ of the wealth is owned by 10℅ elites in the world. There are only two communities in the world, rich and the poor. But wealth is not the only difference between them. Financial knowledge and intelligence is the secret to become rich. They definitely know what others don’t. Poor work for money but rich make their money work for them.

                People work harder to only pay taxes and bills. They plan to save not multiply and this what makes difference. Money without knowledge is money soon gone. At the end of the day, it is not how much you earn but how much you keep to invest first. That is why, so many accountants and bankers go bankrupt because intelligence overpowers qualification where money is concerned.

ref : Reserve Bank of India

People in their early career do not realize the importance of investments and financial growth. They get addicted to overspending and expensive lifestyle. Capitalism and flaunting trends has even dragged people with low income in it. EMI's and loans have made non eligible customers buy expensive products they can’t afford and don’t even need. People end up buying products in super market, those were not on their list. But this doesn't stop here. Once they face responsibilities, their world turn up side down. Unfortunately, fixed deposits, retirement plans and few stereotype real estate investments come to their rescue which hardly earn more than peanuts in ever increasing inflation and taxation. This doesn't mean we should stop shopping but if we will buy today things we don’t need, tomorrow we will have to sell things we want.

Invest Mumbai clearly points out all these facts and helps people avoid these mistakes in life. We can surely become financially independent, if we really want to. The biggest question you may ask yourself before taking financial decisions is whether you need this or is it value for money? Invest Mumbai plans to direct some effective measures in the up coming articles.

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Author is highly inspired and is a religious follower of 1997 best seller book 'Rich dad Poor dad' by author 'Robert Kiyosaki' and his thoughts resemble to the rich dad series to a great extent.