#how to make money

 


Freelancing opportunities available online and offline, have opened  many more earning opportunities these days.

Knowing your area of interest and learning all the techniques to work efficiently in the chosen area can help you provide value.

Find out who is willing to pay for your time and skills.

Once you start earning, begin setting aside a small portion of your income and start investing. You will enjoy watching your money grow.

Before investing, take time to ponder on:
  • What are your financial goals?
  • How much risk are you willing to take?


  • What assets are in your wishlist?

For most Indians, the first savings would be in metals...silver and gold.
Financial advisors suggest, it is good to invest 10% of your savings in gold. They will come in handy during economic downfall or war

The next big choice for Indians is real estate. That's fine as well, as long as it is limited to 30% of your portfolio , advise experts. With India growing as the worlds most populated country, the demand for real estate space is constantly surging.

What about the remaining 60% you ask?

Well, allocation for equity could be ideally 40% 
say fund managers. Indian stock marketbis expected to grow well in the next few years.
Conservative investors seem to invest 55% in physical assets (gold & real estate) and the remaining in mutual funds and stocks. 
If you are a senior citizen below 70 users, feel free to retain 60% of investment in stocks, 35% in bonds , and 5% in cash investments.

As you cross.70 years, make sure you reallocate your financial assets. Reduce your equity holdings to 40%, increase bonds to 50% and cash investments to 10%.

As you approach 80 years, reduce your risk appetite and lower your equity holdings to 20%, retain investment in bonds to 50% and increase cash investments to 30%

Currently for conservative investors in India, ICICI and HDFC prudential funds seem to be attractive choices of investment. 


How do the rich make money?

  1. They work on multiple sources of income
  2. They save first and then spend the remaining
  3. They diversify their investments
  4. They learn continuosly


 

Comments

Post a Comment

Popular posts from this blog

What is your HARD goal?

 When you find a sales executive meet his targets consistently, how do you respond? Analyze what was right in his approach and help others in the team adopt the process. Mark Murphy, a US based leadership trainer reveals that successful sales executives are motivated by Heart driven, Animated, Required and Difficult (HARD goals). They are aware of what they really want, what makes them come alive, what is more attractive to them in life and what challenges will tap their talents. HARD goals are so compulsive that implementing them is never a burden. Next quarter, when you notice is a slack in sales numbers, ask your sales team what their HARD goals are. Encourage them to work hard without excessive work load. 
Read more

How do you Resolve Conflicts?

 You have assigned one of your field sales executive to draft an email to a prospect. After couple of hours, when you ask him for the status update, he says, "I tried but I feel I am not good at drafting sales letters." As a leader of your sales team, how should you react? Stanford Psychologist Dr. Carol Dweck  points out that we can all improve our Intelligences if we embrace challenges, learn from feedback and take inspiration from the success of others. None of us are unmotivated at birth. We are all naturally and infinetly curious, experiementing and learning. Those who have developed resilience to face setback comtinue to be inquisitive. Leaders who talk about struggle as valuable and opportunity nurture a conducive environment to take on challenges, deal with mistakes and learn. To motivate your team member,  it would help to show him that you  value his efforts  Help her systematically address her weakness Encourage members in conflict to look for suitable environment
Read more