How to get rich: Even those who earn Rs 20 lakh per month can become rich, the formula is very simple.
Everyone wants to be rich. Many people also use shortcuts for this. Quit your job and go into business because the general social belief is that to get rich you have to own your own business. But sometimes that’s a very bad idea. There are no jobs or job losses. If so, let me tell you the way to get rich through work.
Being rich means being a millionaire.
Business Office, New Delhi. In Indian society there is a belief that it is not possible to get rich without doing anything. It is understandable that the meaning of work is a better life and your life will be controlled. But work is seen as a path to wealth.
That’s why so many people are leaving successful careers to start their own business. Of course, some are successful and have thriving businesses. However, there are many people who spend all their savings on businesses and fall into the debt trap.
This does not mean that business is bad. But, if you want to start a business just to get rich, you don’t need to quit your job for it. If you earn extra Rs 20 lakh every month, you can get rich by doing a job.
Getting rich here means being a millionaire. But, to do this, it is not necessary to depend on betting, as is the case with online gambling. Earn money for your hard work. Know the formula to get rich through work
What are the benefits of the job?
Do you know how rich Elon Musk, Mark Zuckerberg, Mukesh Ambani or Gautam Adani are? The shares of your company. Which, in theory, makes them rich. However, they cannot sell their company’s stock because doing so would cause the market to believe that something is wrong with their company.
In this case, your company’s stock price plummets and your wealth is destroyed. This means that, in theory, they cannot keep a significant portion of your wealth. At the same time, if we talk about Apple CEO Tim Cook or Google CEO Sundar Pichai, they can take salaries of Rs 1 lakh crore as much as they want.
How can we get rich with work?
If you want to get rich from work, your salary should be at least Rs 20 lakh per month. Then apply the 50-30-20 money rule.
That means you have to spend at least 50 percent of your salary on basic needs. Like rent, equal monthly payment, bills and groceries. You can do 30 percent of your hobbies. For example, watching a movie or buying clothes.
Currently, he saves 20 percent of his salary. That’s how I became rich. Imagine that you are a 20-22 year old boy and your salary is only Rs 20,000. The 20 percent will be between $4,000 and $48,000 per year.
Invest the money for the long term if you have a chance of getting good returns. It can be the stock market, a mutual fund, a provident fund, an FD, whatever. If you have local knowledge.
And as your salary rises, you can invest more. The remaining funds are also used to finance necessary expenses. The original investment and compound interest will make you rich in the future.
The salary is less than 20 thousand…
If your salary is less than Rs 20 lakh, you may find it difficult to save today. Basic expenses are often barely covered. If so, you will need to increase your income.
Nowadays, you can make money with the help of the Internet and social networks. Just a good set of skills. Only with the help of the Internet can knowledge be improved.
Then this knowledge will give you additional monthly income and with the help of your savings. But don’t take any shortcuts as it will only increase your problems.
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