7 Solid reasons for living life in Poverty or Financial Compromise

Sunday, 15 April 2018

7 Solid reasons for living life in Poverty or Financial Compromise

Greetings from Hitesh! In my 25 years plus journey into the filed of investments, I have never come across a normal guy who is not interested in making money and enjoying luxuries of life. But when I look around at the same guy, he is still struggling financially, he is living a life of compromise or frugality.

I have done a detailed study of the reasons behind the same. If you find, that you are also one of the strugglers financially, then I am sure one or more of the 7 reasons would be applied by you.

Negative Association to having Surplus Money: -

This may sound funny, but this is the fact. We have various opposite beliefs to having money. On one side we want money and on the other side – we may see money as a root of all evil / more money means more tax/ more money means I am doing something wrong / more money means less friends / more money means lot of insecurities / more money means some GUNDA can call me and ask for HAFTA / they may kidnap my near ones and ask for RANSOM / To make more money I will have to incur more SINS / How will I handle so much money? / Near and dear may kill me if I have more money and they do not have. By the time I make money, I will be too old. On religious side it is believed that the person who are satisfied with what they have are eligible to enter to the HEAVEN or get NIRVANA.

Now you have one desire to MAKE MONEY and so many deep rooted wrong beliefs. Ultimately, the beliefs win, and you are left with less money or no money.

Association is okay, but abundance of money is not the PRIORITY.

Say you have win over the first step and you have positive association to make money and you really want to make money but if making money in abundance is not your priority, you will not make tons of money. Abundance of money should be your absolute necessity to make tons of money.

It is said, if you don’t ask, MOTHER will also not SERVE you your favourite dish. Same goes for ABUNDANCE of money. Mother NATURE is ready to give you everything, but you must ask. Unless you ask, you will not get.

Never Developing Effective Strategy to BUILD WEALTH.

Let us see you have a positive association and you have made abundance of money as your main priority, but if you don’t have effective strategy to push you towards your goals, you will end up being normal. This can be done through role modelling or meeting people who have already made it what you want to get.

Normally, I follow WARREN BUFFETT model for myself and advise my clients to follow the same as it has been perfected by living legend over a period of last 60 years. I don’t have to reinvent the wheel. It is already there. I just fix it in my car and run.

Most guys fail here.

Failure to follow up plans.

How many times you decide on 31^st December that form 1^st January, you will wake up at 5am and go for jogging? This has been the yearly rituals for most of the guys. But very few can take it beyond 4^th or 5^th January.

Same is the case with wealth creation rules. You have done role modelling, you have developed the rules and strategies for the same but very few guys are able to follow it rigorously. We request our new clients to be with us at least for three years to finish the processes of installing the habits of wealth creations. Many times, non-serious guys get out in a year or two. He does not have patience to invest 3 years to invest in learning the finer strategies. We need strategies as per market situations and in 3 years normally, market goes up and goes down. The idea is to train him for TEJI and MANDI both. But NORMAL guys don’t want to follow this simple request.

Relying on EXPERTS.

I hear many guys talk about XYZ media expert has recommended this and that. They make it a practice to reply on them for market situations and stock tips. They scan through all the business channels and they find out ideas. It is their favourite past times to discuss these ideas and add all the shares in the lot of 5 or 10 shares per company. I have seen people are having 50-70 companies is a portfolio of just Rs.5 lakh.

Time and again we have proven that how experts have gone 100% wrong, intentionally or otherwise.

We want you to take the education from us and develop your own style which is suitable to you and your present circumstances. We don’t want to copy you any expert or us.  

Financial complacency.

At some point or the other, all normal guys start getting a feeling that they have made good money and they are not able to spend the same. This kind of thought process leads to complacency in the minds and the same gets reflected in the behaviour. He now stops following rules, following daily rituals for wealth building. This leads to down fall of what has been created so far.

Allowing Financial Crisis turning into Financial Ruin.

Jesse Livermore had made 3 million USD in a mandi of 1907. In a next month he was down with just 3 lakh USD due to his mistakes in doing a TRADE. Like this he had wiped out his total capital 4 times and created back the same multi times after that.

Financial crisis is a part of the game. In November 2016, we had DEMONETISATION and many guys with huge cash surplus got losses up to 40% of their amount. Now, the point is how you handle this situation. Whether you can manage your losses or whether you get affected by the same and ruin everything. The moot point is managing the crisis.

What NEXT?

The above 7 are the most solid rules for living life of deprivation. Take your own time to study the same and ponder over them. I am sure they will make sense to you.

Have a HAPPY SUNDAY.

Follow me on Twitter @hiteshmparikh Or on Whatsapp - +91-9869425399.

Live With Passion…Invest With Passion.

Hitesh Parikh.