Become Rich 5 Effective ways!

 

ü    Become rich 5 Effective ways!

At some point or other, we all want money. Money is a necessity of the world, life, I myself admit it. You should not be a slave of money but you must understand the important of money. Many people ask, how to make money? How to get rich? So, in this post , I will share with you 5 assets which can help you to get rich. But first, definition of an asset, because you must know it and people make the biggest mistake about this only.

What is an Assets?

 

People are not rich only because they have things, because they buy things. True wealth, wealth, not money, wealth is defined by the fact that whether you own assets or not. You are truly rich when you have something called asset. Definition of asset, simple definition, something that makes money for you, something that appriciates your money, it is working for you even when you are sleeping because that is when you are not renting your time, you are not working on rent. A job is also a kind of job on rent, You get monthly salary, not daily salary so you are not a daily wage worker but you get a salary for the time you give in a month. If you give more time, you may get more salary, but it's not possible that in a month you can earn three times, four times, fives times, ten time your salary. No, it's dependent on your time only, and that is called renting your time. So, which are those 5 assets that can make you rich?

1. OWINING YOUR BUSINESS 

Your own business, if it is successful, makes you money even when you are sleeping. Even if you stop working, then your team, your factory, your products, your marketing will make money for you. if you look at the richest people of the world, then on that list, by far are the people who have started their own business. Richest people of the world, Jeff Bezos, Elon Musk , Mark Zuckerberg, all of them started their own business. Richest people of India, Mukash Ambani, Azim Premhi, Adani, they all started their own business. It does't mean that you will earn if you start a business, no, I have said it may times that business is a very risky proposition, which means that if it works then it is amazing but if it doesn't then you can lose alot. So yes, it is a good asset and making it work is your responsibility. So, first asset, your own business.

2. OWNING BUSSINESS THROUGH STOCKS

A business is, stocks. When buy a share or a stock of a company in the stock market, then basically you are becoming a part of that business. You say that,' I believe in this business, so when it grows, its stock price will also grow and then I will become rich, my wealth will be created'. But, the most important thing for this is that you should become a long-term investor. Only day trading or short-term trading or reacting on tips, like 'buy this stock, it will double in 24 hours', no, that is not wealth, that is gambling. Wealth is created when you take long-term bets. One of the richest people of the world, Warren Buffet, if you read or see his life story, you will see that he made all his property, his wealth by investing and all of them are very successful and rich investors, and what they have always done is bet on really long-tern companies for a really long-term perspective. So, if want to create wealth in stock market, then have a long-term view, at least 3-4-5 years, ideally 15-20 years, and then bet on really strong players, market leaders in the category, because you know that as the market grows, country will grow, world economy will grow, the players who are number 1, number 2, in the industry, they  will also grow, and as they grow, they will actually be making money for me, while I Sleep.

3. BUYING COMMODITIES

Gold, Silver, mostly gold, silver too, there are other commodities too, but we won't go there. when you own these assets, they also increase in value and they make you wealthy. But, the big mistake in this, when an Indian mind understands gold investing, it instantly thinks of jewellery. No, jewellery is not the right investment, I am absolutely against buying jewellery if it is for an investment purpose, if you want to invest in gold and silver, then invest digitally, by buying gold bonds or gold ETFs. It is given as a link in the description, so you will have the way of doing it. Basically, a digital bond which is the best way for you to invest in gold or silver or any commodity.

4. REAL ESTATE

Real estate is very trick. I have made a very long video on it, ' Buying or selling a house'. I believe, that if you want a house for your own use, then please don't put yourself under that burden if you are in your twenties. Because, you don't know if you will live in that city for life, you don't know if that house will be sufficient according to your needs, so there are a lot of things that you are taking for granted for a really long period of time. But if you use real estate as an investment, then it could make sense. Buy a cheap house, that you can afford, which you won't have to take a lot of loan for, ideally you should not house worth 10-15 lakhs, because that then gives you the freedom of not having to pay interest. Whatever rental income it garners you, 5-15-15 thousand rupees maximum, a house worth 10-15 lakhs will never get more, then that will help you either reduce the EMI or generate additional income and then the value of that house over a long-term will be appreciated. So, you will have something which is an asset which will makes money for you even when you are sleeping, and that is a brilliant asset to have.

5. INTELLECTUSL PROPERTY

create something that is intellectual property. something that you will have to make only once but it will make money for you for life. A example of that is content. If I am making this video today, in 2021, then this video or post will keep getting views till 2025 or 2030, and based on that there will be built. I don’t give ads on my channel but If I would, then I would get that ad revenue of life. If would write a book or a song or produce a content that people would buy, then I have done it only once but I will keep earning royalty or revenue from it for life. And these are brilliant assets, especially if you are in your twenties, then creating content is a beautiful way for creating long-term assets. Suppose that you are graphic designer, and you have made a lot of good graphic designs and put them on the net, and you have said that you can use them if you like them, but if you want its high-res commercial production file, then you will have to buy it and that could be whatever price you want. Maybe no one would buy it in the first month or even in the first year, but it is inevitable that someone would buy it in the next 5-10 years. And if you release a lot of such designs in the market, 100-200-300, as many as you can make, at some point of time it will start generating income for you, which you had no idea of when you started, and that is true wealth because now even when you are sleeping at night, someone would be buying your design. Even when you are sleeping at night, someone would be buying your course, even when you are sleeping at night, someone would be buying your book, even when you are sleeping at night, someone would be watching your video. It is brilliant how intellectual property works. Something in which you use your intellect, your experience, your skill and then you let it earn money for the rest of your life. These 5 ways are the surest way for you to think about getting wealthy, getting rich. If you look at any rich person, you will find that they use their maximum time and money in one of these things, If not all the 5 things, because they know that their money will grow only when it is invested in an asset, a thing that makes money, not waste it.