Goddess Laxmi rules the motivation and strength of a person to accumulate wealth and grow upward in life. In our culture, she symbolizes all the wealth that there is. In simpler words, only Goddess Laxmi can make the worldâ€™s richest business tycoons feel truly â€˜poor and inadequate.â€™
If you are a salaried person, self-employed professional or a business owner, you may be interested in getting some insights into growing wealth. What can be a better reference than the doodles and notes from the Goddess who created this entire system (Sorry Wikipedia)?
Here are some secret wealth building tips straight from Goddess Laxmiâ€™s diary for you!
Table of Contents
Wake-up! Goddess Laxmi Favors â€˜Early Birdsâ€™
This is common wisdom, yet, only a handful of people seem to follow it and reap the benefits. Investing early simply gives the investor an edge on two fronts- Time & Accumulation. If you start investing early, your funds will have more time to grow. Moreover, compounding will yield better returns for you if you get a sufficient head start. Starting early investment comes with another benefit- You will have to set aside smaller annual investment amounts as compared to later years of investment (provided your goal remains the same). One of the best ways to get started early for wealth building is investing in Avivaâ€™s Wealth Builder Plan that gives you guaranteed returns.
Plan Your â€˜Golden Yearsâ€™ Like You Plan Laxmi Aarti
Every penny you invest is for your future. Why not begin with retirement planning and securing your golden years? If you decide to start investing today, a retirement plan will be the best option. Retirement wealth plans come with several benefits apart from peace of mind. Youâ€™ll be able to reap tax benefits upon the maturity of the plan, match the cost of living years from now without worrying about inflation, and even get regular income if the plan allows. For instance, Avivaâ€™s Annuity Plus plan gives you income security, insurance security, and many more benefits post-retirement.
â€œRisk it all & lose it allâ€- Rough Note by Laxmi ji
Human ambition knows no bounds. We are the creatures of passion who love to crack our goals. However, every achievement comes with a certain level of risk. Investments are no different. It is a bit of timeless advice that every successful investor sticks to no matter what. You should only invest as per your risk appetite and not more than that. In other words, look for investment opportunities that suit your risk profile. If you can afford to lose a certain amount in a riskier investment, the reward will be higher and the option will suit you. On the other hand, if losing a small amount makes you lose peaceful sleep, go with safer & consistent returning investment options.
â€œIf you diversify, you are smartâ€- says Sukh Sampati Daata, Laxmi Mata
There is no rationale behind â€˜losing it allâ€™ if things go wrong. You will find this tip even in the most fundamental books teaching about investments & wealth. Ideally, your portfolio should match your risk profile. If you are a conservative investor, your portfolio must have investment instruments and assets that give consistent returns without much risk. If you are a risk-taking investor looking for higher returns, your portfolio, for e.g. should contain more equity options, etc. If you diversify all your investment, the poor performance of one or two assets will still balance out your net returns vis-a-via other assets.
Stay Cool despite the Marketâ€™s Temperature – â€˜Sab sambhav hojata, mann na ghabrataâ€™
The world is an uncertain place. Markets and economies for sure are uncertain. Whatever investment you make is subject to some risks and unpredictable external factors that can manifest at unexpected times. Whatever fund or asset youâ€™ve invested in, you should keep a level-head at all times. Even if the economy is tough, the market is down, or your personal life is chaotic, patience & positivity will get you anywhere you desire. Life is not just a profit or loss statement. It is the embodiment of our very spirit of growth and an opportunity for the appreciation of beautiful things around us. Goddess Laxmi advises to not fret over the market and money. Stay positive, work hard and wealth shall follow!
Building wealth is not a complex undertaking. Rather, it is a series of decisions that you make to reach your goal. It is the motivation, will to learn, and patience that sets apart a wealthy person from the crowd. Goddess Laxmi advises you to keep the above-mentioned tips in mind while her blessings work their magic in the background!
Featured image source: Freepik