বাংলায় পড়ুন
For most people, wealth creation objectives are about generating funds to meet specific goals. For example, a debt-free future, providing for retirement or savings for education and funding or renovating your home. But most of us face a similar problem. Limited wealth. In today’s episode of Business Buzz with Amit Rathi, we learnt that it is your savings and not gross income that makes you wealthy and why you should invest.
It takes money to make money; just like it takes wheat to grow wheat. We need to prioritize our needs in order to ensure that we use this resource in the most optimal manner to fulfil the most important needs or goals. A healthy savings rate is the basis for creating wealth. This could obviously raise the question as to what a healthy savings rate actually is. Well, it simply is the rate that enables you to achieve your financial goals, given your investment temperament and preferences. Most people see success in Wealth Creation as being dependent on investment returns – but there is more to the strategy, including the amount and timing of your investment contributions. It therefore becomes crucial that you start investing at the earliest and allow compounding to magnify your results over time. It is the discipline and financial prudence in utilizing those earnings which are the true determinants of wealth.
