What will I do with this huge money in my old age ???
Youngsters often ask me, What will I do with this huge money in my old age, when I discuss with them the power of Compounding...
A valid question.... Isn't 🙂
If you won’t have any energy left, what are you even saving for? And statistically, a few of us won’t even make it to old age.
So is saving/investing money, a waste of money?
Youngsters do battle these questions especially when they are in their twenties or thirties.
This is a Great Battle between IMMEDIATE GRATIFICATION vs DELAYED GRATIFICATION.
The result of this battle ultimately defines us and our future.
So, the question is more psychological than mathematical. Saving and Investments are our commitments for long term.
I don’t want to imagine the kind of emotional torture that can finally hit us when we realise that if we could have saved a little money in our young age, we would have lead a better dignified life in our old age. Therefore Failing to plan for the future is definitely a fool proof plan to fail in future.
A Simple Disciplined Rule which I followed over the years is the use of the following 30% - 40% - 30% formula -
30% Invest it for your Future.
40% For your Monthly Expenditure.
30% For EMI's , Self Upgradation etc.
I believe The Magic of Financial Abundance is not in doing something new every time, it's in doing things Continuously in determined and Disciplined Format for a long period of time....
In this blog I am leaving you with this thought :-
If saving money, i.e. living on a little lesser money is proving difficult for us today, how will we ever survive without a lot of money in our old age esp with the impact of INFLATION ?
Happy Investing ☺
Biswajit Roy
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