How to be a millionaire

     Well well who doesn’t want to be a millionaire. Some millions in your bank account is not a bad thing . Does it?
    But day dreaming is easy and making it reality is not so easy.
    So does it is impossible for most of the middle class people to become one? Does becoming a millionaire is so difficult that out is out of our scope?
    Well believe me it is considerably easy enough then it seems. Now the main question. How so? What is the mantra to become a millionaire?
    It is nothing new – a simple word we all know ‘savings’ and investments.
   
  Can we be a millionaire by just out normal savings. Of course we can. As the great poet Kabir has said

     The meaning is that a tree bears fruits only when the season comes. It takes time to happen. It cannot happen just overnight. But it does not mean the Gardner should stop his work until the season comes. The tree needs good care the entire year. Without care, it will not bear fruits.
        Your bank balance in no different. By just saving and putting it in the bank we can easily retire as a millionaire.
      For example, take that I save just ₹5000(or any currency) each month. With 5% annual interest rate (of course compounded) and no initial savings, what will I have in 25 years?

₹2,863,628.93

Wow. Close to 3 million. Imagine what it will be if I can save ₹15,000 per month.
₹8,590,877.79.
       Around 8.5 million.
    An average middle class can save even more.
     Do you know the reason that has made the 2008 economy slowdown such a big deal was just lack of savings?
     Usually westernize do not believe in savings. An average American saves less than 10% of his income. This makes them very much dependent on economy conditions of their country. Hence, they are hit very hard when economy cannot support then.
       The aim of a well earning middle called person should be to save between 50 to 70%.
      It is a myth today of you are earning more you should also spend more.
     Buying a new car or a bigger home or the latest smartphone on every six months may give you happiness for a few days.
   Do you think you will actually be happy with skill these. There are material things. The can make you happy for a short period until you grew bore of them and start looking for something else.(it always happens with me when searching for Rpgs ).
     You will never be satisfied with these. Such these can lead to no improvement in your life either finally, mentally spiritually etc. etc.
    Do you know that the value of a car of halved the moment you buy it. The figure is 1/3 rd for your smartphone.
     Instead of spending on these material goods, why not spend on something that actually improves your life.
     Like investing in real estate or gold or something like that  that can help even your children. Or buy educational apps for them. Or admit then on some courses like dancing, sports etc. whatever they like. Or do some charity that will give you the most satisfaction.
Or just put it in a bank for the retirement. Seeing your bank balance grow is a fun in itself.
      This all ,I have learnt from my father.
He also earns around an average middle class man. He has saved around 50%of his income from the first day of his career. Even when financial condition of our family were not so good. Now, the figure is more than 70%.
     Still we are living a very satisfactory life. I can do anything I want because Papa has made my life finally very secure and full of happiness. Thank you papa.
    So think about where you are spending your money. Is it actually worth it. Don’t be fooled by every advertisement you see. Think about your retirement when you will not have a stable income. Think about what you will leave for your children when you die.
      Hope you will like this article and take something with you before closing it. Please share your views on this and enjoy rest of the day (keeping in mind what you have learnt).

     

      

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