- First, it would be clearing some exam.
- Then, it would be getting some job.
- At some stage, spending time with family would become your top priority.
You will never have enough time, this is what you can do 👇👇👇
1/ Plan your day. At some stage, we should stop with the attitude of going with the flow.
To rephrase @naval: if you are not learning, earning or relaxing, what the F*ck you are doing.
PS: not sure if he used the F word, but let's use it for drama.
2/ Be micro. Try to condense everything: have short meetings, short phone calls etc.
- The more work you cut, the more time you would have to relax 😅
- So be efficient. One of the fastest ways of being efficient is structured thinking.
1. Commodities: Steel will grow due to expanding demand, but gold will stabilise. Oil will stay very volatile.
2. Stocks: this would be the decade of Industry leaders. Pick a segment, pick an industry leader.
and If ...
..you buy it at a good price, you will make great money.
3. Markets overall might consolidate sideways for a long period of time. Hence, Index investing this year might not be a great idea.
4. Exponential asset classes: Cryptos, NFTs. Favourable regulations will ..
.. skyrocket their growth.
5. Bullish on AMCs, Insurance & Banking. These might give secular growth.
6. Overall, we are still very much in the bull run. In fact our monetary system, can't afford a failure and asset prices will stay inflated, barring external shocks.
Rich people in the US, have built business empires taking on debt.
But, normal retail folks like you and me can ruin our financial well being by taking debt unnecessarily.
So it makes sense to understand the difference between good and bad debt: 👇
1. Robert Kiyosaki puts it well:
- Rich people build assets (Assets=put money into your pocket)
- Example: when Jared Kushner buys Real Estate, he will rent/sell it. This is a 'cash flow' for him.
- Unfortunately, when normal folks buy Real Estate, they create a liability.
2. Normal folks are champions at creating liabilities:
- Eg. buy an i-phone on EMI.
- Buy a house on a massive loan.
- If you max out 1 credit card, time to apply for a new one.
With endless WANTS, Discounts/Cash-backs/EMIs become tools to push demand.