Keep investing to stop wealth eluding you
- 'For 9 months, you have been sitting over names': SC raps Centre on appointment of judges
- Tata Group said to shortlist candidates for next chairman following ouster of Cyrus Mistry
- PM Modi to visit Japan in November, civil nuclear pact high on agenda
- J&K: After nearly 4 hours, Pakistan resumes mortar shelling in R S Pura sector
- Wanted to hit LeT camps in Pakistan after 26/11 strike: Shivshankar Menon
This is the last part of the three-part series. In the previous articles we discussed the meaning of 'Investing in yourself'; its importance and its advantages. Further, we discussed why learning and understanding a few things like risk, volatility, markets, market situation and human behaviour greatly contribute in your endeavour of investing in yourself. Having dwelled upon them let us now attempt to answer the fundamental question of why wealth eludes us.
Real wealth eludes most people despite their doing things right. People feel they have invested well and they have been responsible towards their family and themselves. However, it seems what they have amassed is of little or no significant consequence. For those who have not done anything with their money there is nothing to speak of. In any case in my opinion all of this and why wealth eludes is simply because you have not invested in yourself good enough.
It is observed that the ratio of number of people who create wealth vis-à-vis people who destroy wealth is very small. In other words amongst us there are more individuals who either do not create enough wealth for themselves or are happily eroding the wealth they have. Note that amount here is not important. I am simply talking about having adequate wealth.
This level of adequate wealth naturally differs from person to person however by adequate I mean what is needed as bare necessity. So moving on I am further clarifying that people do not even create adequate wealth for themselves based on what they might need. There are many reasons for that and here are three important ones in my view.
DIY stands for "Do It Yourself". This is a widely accepted philosophy and method of working. In matters of money people want to do things themselves. Perhaps 20 years ago this was fine and fair as there were neither as many options or opportunities. People seem to have accepted this general rule in perpetuity. While nothing is impossible and with knowledge there is nothing that cannot be surmounted one must realise one's own limitations.
- A letter like Cyrus Mistry’s could deepen the credibility crisis of Indian capitalism
- The transgender rights bill dilutes the private member’s bill passed by Rajya Sabha
- Diverse myths around the festival underpin Hinduism’s openness
- Polygamy and gender justice debate is more complicated than it is made out to be
- By brokering for MNS, Devendra Fadnavis has shown himself as a CM afraid of a bully
- Pak PM would do well to study the past before choosing Raheel Sharif’s successor