THE ESSENCE OF GETTING RICH Episode 55, LIFE LESSONS

All of us want to get rich. But is it really easy as few decades ago to make money?

Definitely NO. Let’s know the reason behind it.

Hi friends and welcome to Life Lessons.

DISCLAIMER: I have tried to illustrate based on Indian scenario. I have no intention to hurt feelings and opinions of any one.

Let us look into a wonderful observation before we go into the episode. A few decades ago, the way of getting riches was completely different. Having lots of money, lands houses etc would make individual rich. It was not a great deal then to make up such assets. Lands purchased by our fathers and grandfathers have increased the value to few thousands of times. These small differences in decision by previous generations have changed the financial status of various families. Today, the people whose previous generations have invested in assets like lands, are rich by default to do huge increase it their value. On the other hand, the other sections of people are left behind. This is not the result of the decisions of the present generation, but the decision of purchasing made by the people of previous generations.

When we become exposed to these observations in our life and surroundings, there arises is a big question mark. Is it equally easy to get rich in the present world?

Check out THE RICH MINDSET YOU DON'T KNOW here.

Let us look into such interesting observations and possible ways of getting rich in this episode.

Stock Market Then and Now

We all know well about the latest sensation in OTT, Scam 1992. This is a show from Sony LIV. This show perfectly showcased the way which the loopholes in the share market are exploited.

Similar cases happened in the stock market a few decades ago. No matter how much money was invested, exploiting one or the other loophole made people rich easily. On the other hand, the number of people investing in stocks were also comparatively less.

Today, the scenario is completely different. Indian government has been successful in plastering all the loopholes thus making the norms and guidelines stronger. Therefore exploiting them is no more possible.

Check out HOW TO CONTROL NEGATIVITY here.

Real Estate Then and Now

Similar to the stock market, the scenario of real estate has also changed a lot in past few decades. Today, real estate is one of those safe investments that give back an assured return. This was not the case a few decades ago, there was plenty of land around and people were not interested in owning large lands since there was no sudden increase in the values. People who have invested in real estate a decade ago have already become rich. These are seeing riches today.

A renowned actor in Tollywood, Uppu Shoban Babu always believed in investing in lands. He was one of those star actors in his time (1950s-70’s) who invested lots of money from his earnings in lands. He purchased hundreds of acres of farms, crop lands, and many others. Today, this attitude made him the richest man in the entire Tollywood industry.

It was rightly commented by him: population goes on increasing, but the land is limited and doesn’t increase. Thus owning as much land as possible today will definitely help us in maintaining riches. And today his opinion proved out to be true. The prices of lands increased to such an extent that a common man have to invest all his life savings to buy a single plot in a city on average.

The scenario of Gold is also the same to comment on, The prices of gold has also raised to large extent in past decade. 

Check out THE HARDEST FINANCIAL SKILL Here.

Banks Then and Now

In countries like India, banks are one of those ways where investment seems to be safe. Saving and investing in various bank services was quite common. This was because of higher interest rate offered by these institutes. a two decades ago, banks used to offer an interest rate of around 12% per annum  on fixed deposits. This was a safest form of investment for people. Many people never invested in other fields due to this.

But the scenario is completely different now. The interest rates of banking and other financial institutes have decreased a lot. Today, the average interest rate of fixed deposit in banks is around 5% per annum. Thus it is inevitable to understand that it is not a good option to save money in banks now.

I hope the observations stated above would be satisfactory to understand that the scenario is not the same and easy to attain riches.

Check out BEST BOOKS TO LEARN FINANCE BASICS here.

Is there any solution?

It is time to find out the solution that would help us overcome all these sorts of barriers. In case all of us are equally rich, we are not actually called rich. We are in fact poor. Rich person not only has money, but also has an unexceptional status. If getting rich is available in form of a standard syllabus to students in school, they would not only be equally qualified but also equally rich, which means all of them are poor (as stated in previous lines). This is the reason graduates today can get jobs but not all get rich. The major chunk of these qualified candidates end up being educated labor throughout their entire life.

Thus it is important to understand that it is on our part to search those ways which will make us rich. It is important to get good education that teaches fundamentals of what is good and what is bad, but after this stage it is completely on our part to make it out how to generate riches.

Check out my recent episode: THE RICH MINDSET YOU DON'T KNOW here to understand recent techniques and mindset of rich people.

Check out The Correct PERCEPTION OF FINANCIAL FREEDOM Here.

Summary:

The scenario has changed a lot in past few decades and things are not the same and easy to achieve. Thus it is important on the individual’s part to sort out the way to get rich. In case there is a syllabus available to us the elucidated how to get rich, everyone would get rich, which in turn has no result.

It is not too late friends, let’s start thinking!

It is not the intention to comment that using unfair means is the way to get rich but, i only mean to say that the scenario has changed in just a decade.

Hope you like this Episode.          

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