The Wealth Illusion: Why Your Financial Freedom Doesn't Need Crores

I hear you need much money to achieve financial independence in India.

To accumulate large sums of money, you should be born rich, work a high-paying job, or start a business.

There is no other way to accumulate large sums of money.

You are frightened by the big numbers that do not allow you to save/invest.

According to a 2023 PGIM India Mutual Fund survey, 51% of Indian millennials feel anxious about their financial future.

If you’re 30 years old today and want to retire at 60 with a monthly expense of ?1 lakh, accounting for 6% inflation, you’d need a corpus of approximately ?12 crores.

Such a big number?

How will you achieve it?

Your mind thinks you cannot create anything with a 1 Lakh rupees salary.

How will you create 12 Crores of Rupees?

It might also be that you have not given it any thought.

Let us work together now.

Give a thought—do not surrender.

I know the number can feel impossibly large and discouraging.

The cost of inaction is far greater than the discomfort of facing these numbers.

In his book, “The Psychology of Money,” Morgan Housel shares a powerful anecdote:

“There is no reason to risk what you have and need for what you don’t have and don’t need. The hardest financial skill is getting the goalpost to stop moving. It gets dangerous when the taste of having more - more money, more stuff, more status - increases ambition faster than satisfaction. In that case, one step forward pushes the goalpost two steps ahead. You feel as if you’re falling behind, and the only way to catch up is to take greater and greater risks.”

You know what you are doing?

Would you like me to say straight?

You are constantly chasing a moving target that you do not know.

You are chasing the target without a clear plan, which leads to risky decisions.

You learned that there is a suitable property. " Okay, let me take out a new home loan."

There is much money made in the XYZ scheme, and they are giving 5 percent monthly returns. "Let me invest five lacs there."

You are chasing and chasing, and, at times, losing.

Have you given it a thought?

What exactly is that?

Why are you like a horse now, constantly running and running but reaching nowhere?

You have 50 Lacs corpus, and that is not enough.

You have 1 Crore corpus, and that is not enough.

You have a 10 Crore corpus, and that is not enough.

Why?

Becuse you do not know how much you need.

The subtitle of my book 108-DAY WEALTH ACCELERATOR JOURNAL is "You are wealthier than you think."

Let's get down to the solution:

The key to overcoming this overwhelm is to break down the significant goal into smaller, manageable steps.

Here’s a fundamental solution you can implement right away:

1. Start with a small, achievable monthly investment goal. Even ?5,000 per month can grow to over ?1 crore in 30 years, assuming a 12% annual return.
2. Increase your investments by just 10% each year. This gradual increase is often more manageable than investing large sums from the start.
3. Focus on consistency rather than perfection. Regular, small investments over time can yield significant results due to the power of compound interest.

I know what you are thinking - the target is 1 crore.

"Kaise hoga soch kar bhi dar lagta hai" It makes me feel jittery. How will I achieve this?

In 2020, I earned Rs. 75000 and thought the same.

Today, in four years, I have built a corpus that is at least five times what I was planning for retirement.

It took time.

More than it took - actions and more actions. The mindset of actions.

One income stream to now 30+ income streams.

Hold on for a moment.

Start something - "Shuru to karo"

Your habit will make you big.

Your habit of money will attract more money.

The biggest peace of mind comes when you know you are on the right track.

When you know, you have boarded the right train.

You know you are consistent towards your goals.

Do not worry.

We will work together. "Saath mil kar kar lenge."

"Chalo to sahi saath mai." - Start moving together.

To help you on this journey, we’re excited to offer our 3 days workshop for FREE for few people.

I invite you to take the financial IQ challenge, giving you a free ticket to a three-day wealth accelerator workshop.

Don’t become another statistic.

Remember, as Warren Buffett wisely said, “Do not save what is left after spending, but spend what is left after saving.”

I’d love to hear your thoughts on this topic.

Don’t let the big numbers paralyze you.

What are your numbers?

Let’s work together to break them down and build the financial freedom you deserve.

Warm regards,

Dr. Sandiip Guptaa