Start doing SIP in stocks, mutual fund as early as possible…
You are wrong don’t invest money in stocks.
Why?
To understand this you need to know the story of Raj and Rahul.
Raj was very intelligent like you all he was so influenced by the finance influencer to start investing as early as possible and he did actually the same they guided him.
He started investing money by the age he was 21.
Raj started an SIP of 5,000 Rs every month. When he was 21 according to his calculation he was looking to invest for the next 30 years.
He was very happy not because he was doing SIP, Raj was happy because his competitor Rahul was not doing any investment in stocks.
Raj thinks that Rahul is 24 he still has not started investing he is so stupid if he starts now also I am going to have more money than Rahul because I started when I was 21.
Fast forward when both turned 50 they met each other at one get-together.
Raj was very happy because he had a Corpus of 1.8 Cr.
But something was going to happen.
Raj was shocked by knowing that Rahul has a retirement Corpus of 9.5 Cr.
Raj asked how did you create so much wealth?
If I am not wrong you had not invested money in stocks when you were 24, So how it is possible?
Rahul says yes it’s true I had not invested money till I was 24. But you are wrong I had started investing from when I was 20.
Raj asked which stocks.
Rahul said IIM.
Raj says I had not heard that stock name before.
Rahul said IIM means investing in myself. I started to learn new skills because of personalfinancejarurihai guy says that investing in yourself gives you infinite returns which no other investment options can give you.
I followed that advice and it changed my life.
But tell me one thing how much SIP you did? For how many years? How much return?
Rahul said I did 50,000 SIP for 25 years and I got a 12% return on my investment.
Raj said that’s great but how much was your salary?
Rahul said 12 LPA.
Raj said how you were able to save half of your money and invest that.
Rahul said ‘I am a subscriber of personalfinancejarurihai and I learn lots of things regarding personal finance which helps me to make a wise decision with my money’.
Raj says thank you I am also going to watch the video of personalfinancejarurihai every day.
The moral of the story is Investing in yourself gives you infinite return which no other investment options in the world can give you.
So make sure you first invest in your education, upgrading skills and after that, you can invest in stocks.