If all you do in life is work really hard, you’re never going to get wealthy.

If all you do in life is work really hard, you’re never going to get wealthy.

Shriram Garde

In school, we learn that hard work will get us ahead in life. Work hard, earn more, get rich.

But, that’s only half the story.

If all you do in life is work really hard, you’re never going to get wealthy. Because it’s not enough that you work hard to make money to set some of it aside.”

You must “equally” work smart.

Specifically, by investing.

It’s an age-old concept. Take the game of Monopoly, for example. If you’re simply rolling the dice and passing GO to collect your paycheck, only to stockpile that cash, you’re going to get crushed by your opponents who are strategizing to buy up properties that will get the most returns.

That’s not so far from reality. Ultimately, the greatest financial reward comes from working smart. That is, taking advantage of compound interest by investing so that your money earns money on itself.

You will never achieve financial success if you put your money into a bank account, FD, bonds or anything of that sort. These types of accounts often offer interest rates below 1% PM.

Instead, you should be looking at the stock market, which has had a historical average return rate of more than 10%. It’s really easy to do and you can do this and generate high single-digits, 6, 7, 8, 9% — and that’s all it takes to enjoy the benefits of compound growth over many decades.

Investing doesn’t mean you have to risk it all. You can do this without taking a huge amount of risk, you can do this without a lot of effort, you can do this without a lot of time. All you need to do is build a diversified mix of investments, using low-cost exchange-traded funds (ETFs) or mutual funds or trading directly into the markets and build a diversified portfolio on a global basis. Real estate is another great place to invest.

The bottom line: Continually working harder won’t be enough in the long run. But figuring out how to maximise the money you do have will make you rich.

Stay tuned!!

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About The Author: Shriram Garde

My mission is just to share the events in my life sincerely with you; as I have experienced them, not necessarily in that order. I write on various topics. Whether that means - advice, tips, tools, scriptures, or instructions on budgeting, getting out of debt, making some extra cash, investing or anything else, I intend to provide it. I was 18 years old when I started working as a labourer. I had no savings. I had no money left in my bank accounts. I know life through lot of unpleasant incidences occurring day in and day out. But what I realised is that it doesn't have to be always like that. We are not doomed to how we are currently living – we all can change! I know, because over last couple of years my family and me have paid off a huge amount of debt. I have a passion to help people come to this realisation and get started on their own journey to financial freedom. I had owned 2 Companies before moving to Finance Sector about 9 years back. Spending more than 30 years in various capacities taught me quite a lot. I have a diploma in Engineering completed in part time while I was working. I have learned a good chunk from my working background in various fields. But, like most people who are eager to learn, the bulk of what I have learned thus far is from reading magazines, books, blogs, pod cast or whatever else I can get my hands on about Personal Finance, investing, business, personal development, and time management.

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