Mr Somanshu Gaur began his journey in his early 20’s when he was almost broke and has never looked back since then. A Life-coach who is also a network marketing expert shares his knowledge about investing in your 20’s!
“If you’re young enough to have fun but made up your mind to lay the foundation for a lavish lifestyle that you desire to present for your future self, the right time to start planning is now. But where and how should you get started?” Here are the top three investing knowledge that changed Mr Somanshu Gaur’s life at a young age!
Tip #1: Unleash the potential of compound interest by investing early.
The enchantment of compound interest, a phenomenon Albert Einstein once lauded as the eighth wonder of the world. Compound interest is the type of interest you accrue when the interest you earn on your savings or investments begins to compound on itself.
If you aspire to become financially free, you have to harness this power of compounding and put it to work. If you don’t, you’ll miss out on gains that accumulate with your time which you can never get back.
Acquire knowledge about investment tools like SIPs, Mutual Funds, etc.
Tip #2: Realize that money is also a tool.
If you’re currently in your 20’s ready to build wealth, your journey starts with acknowledging the money you make is nothing more than a tool.
Rather than thinking about the money you earn as a solution to your problems, think of it as a tool you can use to build the life you want. One easy trick is to make informed decisions about spending, saving and investing.
Tip #3: Invest in yourself.
No matter how bad are the fluctuations on the stock market or the crypto prices, there is one area in your life where you have complete control. The investments that you make on yourself!
“Read as many books as you can and attend conferences that support your growth”
When you invest in yourself, you simply cannot lose value. If you’re in your 20’s, it’s still not too late to go back to school, earn a valuable certification that could help you with a career jump, or start over by choosing an industry you’ve always admired.
Acknowledge your goal and make up your mind! Get started with these highly actionable tips from Mr Gaur. Lead a fascinating life that is also financially free!
To know more about Somanshu Gaur, Visit: www.somanshugaur.com