Success Can’t Give You Happiness, Only GROWTH Can!

This week When I did a seminar on Wealth I was asked this question:

“Vidya, if I just need to model one of your simple strategies of creating massive wealth, which one you will advise me to do? I earn very little compared to most of the people. What will you advise??”

I asked

“when you wrote a cheque for yourself last?”

“For myself?”

Yes. By the beginning of the month first cheque what you must write should be in your name or take a specified amount of cash and keep it aside. It can be any amount, even very small, but you must write a cheque for yourself.
Put it in any one of the following investments:

• Post Office / Bank Deposits
  PPF - If you dont have one do open it
  Mutual fund (Obviously after proper analysis)

Commit now! How much you are going to pay yourself. Don’t be worried how will you manage with the remaining amount. You will find a WAY!

The rule is simple “Pay yourself first”. You need to do it every month!

Never stop. It can be small but it must be consistent.

Wealth creation needs huge discipline!

Last Saturday/Sunday (3rd and 4th August) when I was in Malaysia I met a taxi driver. I am sure you people know I converse to taxi drivers most of the times to learn more about the people’s mindset, culture, and I am sure you know I love it.

It was a stunning experience. He drove me all the way from Airport to Hotel,which is about 80 Kilometers (there is no mistake - it is really 80 kilometers). It takes about 1 hour to reach the KL city and almost whole of the travel he was talking to me - in fact I was making him talk to me!

He earns about 3K Ringettes (about 33000 indian rupees) every month. In his terms it is about 100 Ringettes every day. You know what he does?

He keeps away 20 RM every day for saving, that is even when he takes off - i.e. about 20%. He said he is doing it for the past 10 years(20% of his income)

I asked him “is it every day???”

He said yes - It is like getting up, taking bath and eating. Are we forgetting? What ever financial trouble we are in are we stop eating? Never. It is the same. I do it every day! He also accumulates money and lends it to people to earn a Compound Interest!

He said I take my family every year for a 15 days trip outside the country. We have been to London, Australia, Queensland and New Zealand! Mind you he is a taxi driver.He was amazing. I saw the deepest discipline in him. He said one more stunning fact:

In money matters what is most important is CREDIBILITY. You can never skip a payment you can never bounce a cheque, you must go by what you say – then there are lot of people ready to lend you money. He expanded one of his businesses which his son is running right now, was started and built with borrowed money.He got all the money without any security. How he got it? He said: When I asked few of my known contact that I want money,instantly they gave me. I taught the same to my son and today he is earning much more than me in the business what he started .

This week (11th and 12th August) again when I am going to land up in KL airport I am going to call that guy to take another one hour lesson on wealth!

It is not about how much you earn. What make you wealthy is how you use what you earn! Be ready for the next session once I am back from Malaysia.

Enjoy your weekend and my weekend is going to be with Malaysians.