hey all welcome back this is Rahul Kanyal helping you live an awesome life today I
am going to share with you three reasons why you'll never make awesome money
working in a job before we begin let's try to understand what makes money for
example people like Warren Buffett people like Bill Gates how do they make
money what do you think do they do? is it all about what they earn? or is it
something else that they are doing differently? let me tell you a fact all
the people all the rich people in the world become rich because of their
investments not because of what they earn contrary to our believe that if we
do a job if we do a SARKARI job or something else we will have money no we
will not have money unless we save a part of money and invest it where
invest? that depends on you no one ever bought a red shiny Porsche
working 8 hours a day in a job in a shift unless you are Satya Nadela or Sundar
Pichai
the first reason why most people will not make awesome money just working in a
job is that they trade money with time having said it time is the most
valuable resource that one can have every one of us have 24 hours be it Donald
Trump be it me be it you be it a CEO of a company be it Warren Buffett Bill Gates
whatever whosoever it depends entirely on us how we use 24 hours let's say that
a person sleeps for eight hours and given that we have 24 hours so what he
has a 16 hours as as time that he can work on right and let's say for a job
the person gives 10 hours which means that the person is giving sixty two
point five percent of his active time to job and I have already explained to you if
you are not investing somewhere else if you're not building your money the money
is not going to be multiplied it will deplete and I'll tell you why it will
deplete in the next point so so here what I am trying to tell you is that
with sixty two point five percent of your time gone to a job you don't have
time for yourselves you don't have time for your family you don't have time for
anything else let alone investment you can't have time for investment because
investment is a commitment and this is one of one of the startling difference
between those who are poor and those who are rich rich actually buy more time
poor work hard believing that they will be given more money for the efforts but
it seldom happens so so buy more time if you want to be rich and invest that time
into investment the second point I want you to concentrate is tax and inflation
for example if you are earning more than ten lakh rupees here you will be taxed
at 30% and you can't help it because your
everything every transaction your salary slip is documented while it happens with
rich people they can form corporations they can form trusts these are the ways
in which rich save money I was reading in 2011 Warren Buffet just gave 11% as tax
can you imagine a person here who just earns 11 lakh is giving 30% tax
while Warren Buffet right now his worth is around eighty four billion dollars in
2011 he just paid 11% Tax so there are ways in which the rich can save their
taxes they save their money on Taxes but but a person who is just doing a job he
just can't help but to give Taxes the second point further in the second point
is that is the general trend for a person who is doing a job generally
speaking not everyone they put their money in a bank
believing that the bank is the safest place for their money but they are wrong
how they are wrong let me tell you let's say a savings bank return or a savings
account written in a bank is three point five percent this is SBI's return and
inflation if we take the average inflation from 2012 to 2018 that is
around 26.2 percent so net return that bank is giving to us taking into
inflation is three point five percent minus six point two percent which is
minus two point seven percent that shows that if you are putting money in a bank
you are losing your money so so again going back to point number
one if you want to multiply your money there is just one thing that you can do you
can save and invest save and invest per month per month per month this is how
it's made the Third Point and the last one is that they buy liabilities which
they believe are assets for example a person working in Bangalore let's say
buys an apartment worth rupees one crore and obviously the person will not have
one crore as cash he will loan this money from a bank and will sacrifice
around less than 15 to 20 years to give back the money in the form of
EMI so what is happening is that that the money is going out of his pocket and
given that if he's lives in the apartment that apartment is actually
a liability, that apartment should be called a liability because money is
flowing out of the pocket of the person that's the difference between a
liability and an asset an asset actually puts money in your pocket I'm not saying
that you don't buy houses but this is the story of everyone who does a job and
this is yes another difference between rich and poor rich actually buy assets
that bring in money to you to their pockets while who are people buy
liabilities and thus are drained out of money and this is very very very very
important how can you make money when you are just spending whatever you are
earning all right so a part of your money goes not a part a huge part of
your money goes in EMIs plus one of the the the worst
part of of buying a house with with a loan and you know sacrifice and 20 years
for it is you can't take risk you are bound to that company you just can't
take risk if you have a great idea a great product in your mind you can't
startup you are chained you don't have your time so that you can invest more so
it's kind of a rat race that you are trapped in and that people are trapped in that's
why people don't make money so the first reason what that was that they trade
money with time given that time is the source of life it is the most precious
resource of life rich buy time poor spend time like anything second point we
thought was about tax and inflation please do not put your money in a bank
because that will degrade your money it will give you negative negative return
the third point that we have talked about is please don't buy liabilities buy asset
that generate cash inflow for you so these were the three reasons I thought
were the most important why people working cannot make awesome money if you
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with lots and lots of people I request you to at least share this message with me
people trying to make this this word a better one save invest multiply and
compound this is what my message is to you and yes buy more time
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