How to Become Rich with Salary

 

No one can become rich with salary by just consuming it but if you will save and invest same salary, you will gain enough earning from your investment, it will be double and triple of your salary and at that time you will be rich in real sense and you have to resign the job. Following are the simple steps to become rich with your salary.

1st Step : Never Eat All your Salary

Yes, you must not eat all your salary. Yes, there is no end of your desire. My one old student has got the job. Now, he consumed whole his salary income for fulfilling his wants. He bought the bike. That is his need. That is good. But he also added AC in his room on taking loan on Salary. Every month, he consume his all salary by buying new mobile, paying installment of his different personal loan. With this, he can not become rich. 

He have to make the discipline. He has consume only 70% per month. Never touch 30% of your salary.  Now learn what you do with next 30% of per month salary.

2nd Step : Invest the 30% of Salary Every Month 

Now, I do not suggest you to save the 30%. It will be fool idea. Invest directly 30% with my plan. 

1. 10% of it invest in Mutual Funds because you are not smart in share market. Every month invest in MF

2. 10% of it invest in share market. Invest in good companies.

3. 10% of it in Real estate. Now, you can not buy real estate with this small amount. You have to just open RD account with the name of Real estate fund. Every month invest in this RD by thinking after 10 years, you will buy commercial place which will give you rent or real estate profit. 

4. 10% of in invest in your own business. Make your own brand. You have the great idea. That is reason, you are doing the job. Now, invest to grow your idea. Every month, promise to invest own business. If it demand big amount. Make RD and every month invest in it on the name of own business fund. After 2 , 3,4,5 or 10 years, when amount will big. Invest whole in your own business. 

5. 10% of it invest in Gold. Today, gold is gold. Try online buying gold. Every month

6. 10% invest in Govt. RD , post office

7. 10% of it invest in any Govt. pension yojna

8. 30% of it invest where you want it may be your business, invest in the shares which gives you more dividend or high growth or your real estate construction

If you will follow this 70% : 30% rule, you will get success. 

70% consume : 30% invest per month

3rd Step : Never Take any Loan

Give you promise yourself if you want to become rich with your salary, never take the loan for paying the amount with salary. It will make your salary zero and increase your liability. With this, you can not become rich with your salary. 

4th Step : Decrease your Personal Expenses with Increase Your Salary

If your salary has increased double. 20% decrease your expenses and 

Now proportion will be

50% consume : 50% invest per month

If you will follow this rule, compounding rule apply on your investment and within 10 years, you will become richest person with your salary.