investing saving and dream

11
Investment – in self Take Risk Be Entrepreneur

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Page 1: Investing saving and dream

Investment – in selfTake RiskBe Entrepreneur

Page 2: Investing saving and dream

Youth and use of money Today many of youngsters get good education and start with a good corporate

job with high CTC.

They maintain good lifestyle and spend on luxury – having a house, cars, vacations are regular – also they keep on updating the same on FB and are happy to see the Likes.

As similar are the aspirations of hundreds of students who pass out every year – even if one cant afford – the easy way to get them is EMI

So we have credit cards and loans being offered by several banks and financial institutions.

How many of them understand financial literacy – difference between spending and overspending

Today youth don’t have the finance knowledge and are often bewilder or misguided on these financial plans and offers – but as these young less price conscious group are not bothered and keep on piling their outstanding without realizing the importance of saving and Investing.

Page 3: Investing saving and dream

One Life – Spend on luxury and style is mantra today Both men and women work today, both get high salary – less

commitment to family and more towards friends.

As they feel successful, want to spend and indulge in large house, swanky cars good clothing and maintain their lifestyle and status in society.

They need huge cash – it may come from salary or rented property or Loan doesn’t matter to this generation as their mantra is One Life – spend and live in style and splurge on things sometimes they don’t need.

Once this lifestyle is set – its very difficult to shed and one keep on working harder to meet the expectations.

Page 4: Investing saving and dream

Invest in self Our parents went to school and got an excellent education, so they could

get a high-paying job, but we have seen them struggling for money as they didn’t understand how to grow money.

For them saving is in bank account which is safe and secure.

Although everyone knows that mere working will not help them to earn saving as per his desires, still they keep on doing as they want to keep paying their bills.

Invest in self rather expensive clothes and jewelery and electronic gadgets this can be bought later – but investing in what you like (career courses, sports, music) can help you build your another network in parallel.

Money can buy everything, but for money to get attracted, either one should know where to invest and enter and exit or be skilled so you get offers and organization are wiling to hire your talent (remember they hire your talent and attitude towards work - so its important to upgrade your skills relevant to your role and function)

Page 5: Investing saving and dream

Saving & Investing Income Tax returns Save tax Google for advice These are regular activity one does when any financial issues arises

We generally consult CA, tax houses so they can guide us to plan our finance better.

The reason is during the school and higher education finance was never a compulsory subject so we have learnt the art of saving and not investing – we acquired knowledge over experience after they reached 40+, whereas they have wasted 15yrs if they could have started by age of 25

Its all about our culture and upbringing which talked more of saving and less of investing – most of us still don’t know about 8th wonder of world – power of compounding.

So don’t just save - Invest

Page 6: Investing saving and dream

Education is the foundation of career and success Today every child gets more education – enrolls in various curricular activities and

their parents happily pay for the courses.

One can learn the skills relevant to their area of interest but as academic skills are important so are basic finance skills. Most of the basic finance skills can be taught at home but very few put efforts to do so and educate their children in this financial world.

Todays education system teaches the young on how to get more money by studying hard and acquiring degree and certifications, but less exposure is given on how to be independent and take risk.

Why take careers of Doctors, Lawyers and Engineers which have been prevailing since decades – with google, now basic information is available to every user so one in every profession need to be updated about technology, alternatively there are various career options which can be provided to child where they can prosper so why limit to certain areas only.

As professional skills are important so are financial skills – if you can acquire them great, else connect with an smart financial advisor (as identifying a good doctor, lawyer is important so is for a good financial advisor)

Page 7: Investing saving and dream

Lets not play it safe We all tend to live all our life playing it safe, doing the right things,

not indulging into controversy and fights avoiding the troubles and stress that may arise.

Most of us try to be pally and happy go lucky and smile with everyone in the society and your friends like you.

But the truth is, the more you push yourself the more tough you become and you take risk.

Higher the risk – higher are returns (sometimes financial else personal gains) – once you taste one win - you like to have another and one more & you tend to push yourself as you start enjoying success.

Fear is the biggest enemy of self – remove fear and then all remains is ear to listen for best advice and go ahead.

Page 8: Investing saving and dream

Working for money or should money work for you

When it comes to money, most people want to play it safe and not to invest in various financial instruments which is indeed true as why would anyone invest hard earned money in non rated financial products.

The truth is we are unaware of the finance terms, returns and risk hence we try to avoid them and do not want to get influenced by sales talk.

As we were never taught about how to manage money – how to grow money – multiply and the financial products available as your own friends are not familiar with them – they too follow what their parents use to do – investing safe – as they fear and are worried about their money.

Don’t get afraid quickly and think too much as everyone has to die oneday – but if there was no risk taken – there was no life lived.

Page 9: Investing saving and dream

How much money will you keep Money - Its not about earning, its about keeping it for self and next

generation.

So its not about saving, its about investing and diversifying it in various asset classes and not in one basket.

As my father invested in property (real estate) or in Insurance I will continue to do so – that period is past.

Also are gone are the pension which the govt. used to provide post retirement, now we have to manage ourself during the earning and non earning years

Page 10: Investing saving and dream

Dream Big as Entrepreneur To set up a business requires idea So list down your short, mid and long term dream and ideas to make

it possible. Small ideas don't get takers. Think big and focus on your goals Even if its painting or music – you can take support of Internet and

charge per download Meet people and discuss about your idea / dream and see what is

the outcome and you will surprise yourself Once you start your own – you tend to develop your own connects

(again the Big ones) so they share how can you save taxes and increase profitability – but your mentor will only help you if they observe that you are passionate about your own dreams.

Also the more tax if being imposed on your type of business – you tend to find ways to avoid it (which if you being employee were limited and tied up)

Few benefits can be your personal vacations are considered as meeting and your personal vehicle purchase or meals at restaurant can be official expenses.

Page 11: Investing saving and dream

Focus on your goals Focus is very important whether in academic or career

Once mind is focused, thoughts begin to follow and once thoughts are clear – action takes place to give you desired result.

Hence goals are of prime importance – there should be 100% conviction in your own self and idea – just jot them down once you decide and then follow them on regular basis.

Focus can be also adopted from old thoughts and ideas and see the future of ecommerce, mobile access and technology advancements – if you cant develop them – invest in them