It’s time to water your Investments – Wealth Motivator #10

by Nandish Desai on January 16, 2013

We are living in a country where every morning people choose to water their money plant, but they forget to (water) take care of their Money (investments). I am not saying that you should stop watering plants, but your investments need same love and care from you. This is how wealth will grow in your life.

My next door neighbor is a lawyer by profession (Earns good but poor at managing money). He starts his day by taking care of his money plant and ends his day watching some TV serial. When he meets me, he will start to ask which mutual fund is good, which are good financial products, which stock to buy etc. The moment I talk about taking actions he will say – “I am getting late”. Such talks are meaningless if it does not end with an action. Wealth only comes to those who favor’s action over endless talks.

Earning Money vs Managing Money

Earning money is good and everyone should put their energy to earn money, but managing money is equally important. If one only focuses on earning money, he is pushing wealth away from his life. I have worked with a lot of people one-on-one. I had one very interesting finding, let me share that with you
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  • Most people in their 20’s and 30’s think – “Focus on earning more and more money. They think earning is the hardest part and managing will happen on its own”
  • Most people in their 40’s think- “Earn money, but don’t neglect managing money”
  • Most people in their late 50’s think-”Managing money and earning money are two wheels of the vehicle called financial life”
[/list] Balance between Earning and Managing Money

Give a hard look at your financial life and look at how much weightage you are giving to earning and managing money. Are both the wheels in balance or not ? If it is not in balance, it’s time to bring in the balance. Take this on priority. To create balance between earning and managing money we have created this wealth club. Yes, it is a place where you are encouraged to take one action each week in your financial life. The club is all about action, the club is all about driving the car called financial life with confidence.

If you need help in managing your money effectively feel free to write us.

Nandish

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