So yet another financial year is ending today. Tomorrow onwards, there is no concept of Financial Year and Assessment Year. It is just called as Tax Year.
How has been your investments in last year and till now? Are you financially better today than what you were an year back?
Are you able to track your income and expenses? Have your income increased in the current year?
Let us have a discussion on how people are dealing with their finances.
These days, getting a job, getting placed in a company, is all very old school method. In the age of AI, kids are making thousands and lakhs from Instagram and Twitter just by using some AI tools and creating content. I may sound controversial but content creation is a big area that is exploding each day.
People who go for 9-5 jobs are tied to their workplace throughout the week and till they are employed. They don't get time to enjoy their life. People must try to reduce their dependency on job. Only then they can come out of that chain and do things that they like, go to places, travel etc.
How much is enough is different for each person. Each one has to find out his real self. That is a spiritual journey. Personal finance is also a spiritual journey. Once you figure out what you need, it is easy to travel in that path.
People do different things to earn money - some are employed, some do business etc. But whatever it be, save a portion of what you make so that we don't have to depend on job or business till our death. There are a lot of investment options in India - some give lesser stable returns, market linked instruments give fluctuating returns. Some people even do trading in markets to make the best of their time.
But at the end of the day, the only thing that matters if is we have enough money for our needs. Liquidity is what decides our fate and that is what gets us things done. Tax and Risk are unavoidable. Govt is becoming smarter each day. They are increasing their tax collection net and catching every possible means. India being the highest populous country, we have no choice of supporting the 100 crores of under privileged. It is foolish to depend on government to take care of us during our old age. Invest wisely and get well insured for health emergencies. Health is the biggest wealth. If we cannot stand up and do things by our own, then all our wealth is a waste. Time, Health and Money are the three pillars of life. Be wise and live peacefully. Happy new year.
How has been your investments in last year and till now? Are you financially better today than what you were an year back?
Are you able to track your income and expenses? Have your income increased in the current year?
Let us have a discussion on how people are dealing with their finances.
These days, getting a job, getting placed in a company, is all very old school method. In the age of AI, kids are making thousands and lakhs from Instagram and Twitter just by using some AI tools and creating content. I may sound controversial but content creation is a big area that is exploding each day.
People who go for 9-5 jobs are tied to their workplace throughout the week and till they are employed. They don't get time to enjoy their life. People must try to reduce their dependency on job. Only then they can come out of that chain and do things that they like, go to places, travel etc.
How much is enough is different for each person. Each one has to find out his real self. That is a spiritual journey. Personal finance is also a spiritual journey. Once you figure out what you need, it is easy to travel in that path.
People do different things to earn money - some are employed, some do business etc. But whatever it be, save a portion of what you make so that we don't have to depend on job or business till our death. There are a lot of investment options in India - some give lesser stable returns, market linked instruments give fluctuating returns. Some people even do trading in markets to make the best of their time.
But at the end of the day, the only thing that matters if is we have enough money for our needs. Liquidity is what decides our fate and that is what gets us things done. Tax and Risk are unavoidable. Govt is becoming smarter each day. They are increasing their tax collection net and catching every possible means. India being the highest populous country, we have no choice of supporting the 100 crores of under privileged. It is foolish to depend on government to take care of us during our old age. Invest wisely and get well insured for health emergencies. Health is the biggest wealth. If we cannot stand up and do things by our own, then all our wealth is a waste. Time, Health and Money are the three pillars of life. Be wise and live peacefully. Happy new year.
