- Get a job that gives you paycheck
Getting a job teaches you so much about finance, discipline and consistency.
- Do not let your expanses expand to your income
Save at least 50% from each paycheck. I repeat, 50%.
- Read as much as you can about financial education
Most people find it boring. Figure out if personal finance is boring to you; if it is, you will not be bored.
- Invest your saved money learned from your reading
Everyone is knowledgeable about something that they are passionate about. Discover that for yourself and invest wisely.
- Understand that even if you are right, you can still be wrong
There is hidden feeling in all kinds of products. Understand the purpose and make your way clear.
- Understand that you are no less qualified than even the financial professionals
Looking up to the financial ‘masterminds’ may be intimidating. But, most of them work their butts off and that’s how they made it. So just put your head down and work.
- Time and Technology changes, but cycle remains the same
It’s a common thing to say, “Oh this time it’s different!” Yes, there will be new technologies & break-throughs, but market always reverts to its mean. Everything is cyclical.
- Figure out the balance between your happiness and your financial success
If you are not happy pursuing a financial goal, you will not be able to achieve it. Make sure you are consistently happy throughout the journey, or it may turn into a nightmare.
- You may NOT have a great start and that is completely okay
Looking at the richest people in the world, we see a lot of very educated and smart individuals. But there are people too who didn’t even graduate and yet they are massively successful in the financial world.
You may have a steeper hill to climb, but you can get to the top.