Thread by @tradersushma

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HOW TO GET RICH & WEALTHY

WITHOUT GETTING LUCKY

Catchy, right?😄

A Thread🧵

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Before anything else let me present two tables here:
Table - 1

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Table - 2

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What did you see?

Every name on the list is either that of a business person or an investor. Not a single salaried person exists in this list.

This tells it all.

You will never become rich with your salary.

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So how to create wealth?

🌟Start your own business.

Here you will need skills, dynamism, perseverance and diligence of an entrepreneur. But once you are successful the potential rewards are huge. So basically it is HIGHLY RISKY but MOST REWARDING.

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Now, everyone does not possess those entrepreneurial skill set to start a business & make it a success. So what can a common person do? Does he not have the desire to become wealthy?

Here comes the other way.

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🌟Become the part owner of an already established business.

Sounds exciting!

But how?

You just have to buy the shares of these already established companies & get the part ownership up to the proportion of your shareholding.

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Your investment in the company grows with the growth of the business. All the start-up risks are gone & no worries of managing the business. The business owners are already into this task & taking the company forward.

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But, this involves selecting the best companies among the vast names of public entities which has the potential to grow over the long run & give decent returns on your investment. This will involve a lot of research on the fundamentals of the business.

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Here is again a solution to this.

Instead of doing lots of research & then picking on a name or two, why not invest in a readymade basket of the best companies of any country. You just have to put your money in that basket & let it grow.

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This will take out the risk of any wrong selection on your part. Also the concentration risk is eliminated & your investment is fully diversified.

Where does this basket exists?

It's the INDEX!

#NIFT50 #SENSEX

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So it is best to invest your money in these Indices. They are offered as ETFs or Index Funds. Just do a monthly SIP in these Nifty50 ETFs or Index Funds regularly for longer period.

Over the duration it shall build a huge wealth & make you rich!😇

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There is no magic formula to create wealth.

There is no product which can make you rich overnight.

Consistent investment in the equity markets through ETFs/Index Funds over a longer period (>10 years) will build your wealth & make u rich.

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I have mentioned ETFs/Index funds as best product for equity investing. This is basically passive investing.

But if you have the acumen to read the markets & do active investing u will tend to create wealth sooner.

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That's all for this thread!

Happy reading & investing.

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Stay tuned for more such threads coming henceforward.

#investing #personalfinance #ETF #indexfunds
#nifty50

#threadbytradersushma