Wealth means some thing which is of value and a lot of it, example – money, time, social, physical etc.

Everyone wants money wealth but many (if not most) of us believe that it happens by chance or luck. In some cases it does but most of the time it is the right set of habits and decisions performed over a long period of time which makes the person wealthy.

You would have heard “money pulls money”. This exactly happens, when you start creating wealth.

Create that first assets which will give you return even when you are not working on it all the time, like property which gives you rent or shares which you divided etc. This asset will gives you the flexibility to create more such assets i.e. money earned from one asset will increase the speed on investment to create another asset.

In simple – Wealth is something which will earn money even when you are sleeping of out on holiday.

There are simple ways which does not required you to super smart or extremely financial savvy to create wealth.

So, lets look at the few ways how wealth can be created –

1. Own a Business – it may include starting your own business and running it as entrepreneur. It comes with lot of risk in terms of time invested, capital invested, opportunity lost but if you are able to build a sustainable business then its all worth it, example are Flipkart, Ola, Big basket and many more, which have made their founders millionaires or billionaires.

But if it is not your cup of tea then you can owner is the business i.e. shareholder.

Buy a piece of business in the form of Shares, REITs, INVITs, Bonds. There business will you dividends (share of profit) and also the value of your shares will grow as the business will grow.

You can start small with sensible business like Reliance, HDFC (in India), Amazon, Apple or similar (outside India) or just buy simple Index funds, and hold for long period. (Read about Index fund, super simple way to invest but outperforms most other investment options over long term – https://financegrail.com/what-are-index-funds/ )

2. Buy Productive assets – the assets which will give something is return and will not just sit ideal.

Assets like a House or Shop or any other commercial property, which can be given you rental income.

Or a car attached on rental platform, which gives you operating or rental income.

Machinery which will make something you can sell.

Do not invest your money in non productive assets, it will just depreciate over a period of time, essentially will make you poorer. Few of the examples are paintings, jewelry not used for wearing, expensive cars etc.

3. Invest in yourself – Most understated, but most impactful in terms of making you wealthy and at the same time makes your life more fulfilling.

Just take a moment and think if you did not had the skill-sets which you have, then where you would be.

Also, take a moment to figure out why you stopped investing in yourself after college or masters.

Invest in yourself, think of it as a software (new skill or knowledge) that upgrades your mobile and Laptops (yourself) to make it more efficient and smart. Get as much as software upgrade you can and make it a life long process to keep adding to your skills which in-turn will give you lot of monetary return and will make you wealthy.

4. Intellectual property – Everyone has something which they know well, it can be either a skill or knowledge, so utilize and let the world know that you are the go-to-person. Use platforms like Youtube, Blogs, Designing courses and many more ways.

This is something which will last for a long time and will keep on earning you income after your one time effort in creating it.

Earning of blogger – https://www.digitalvidya.com/blog/blogger-earnings/

Earning of you tuber – https://digitaluncovered.com/youtube-money-calculator-money-youtubers-make-india/

Put your skills to use and make side income – https://www.fiverr.com/

5. ESOP – Work for a company which not only gives you the salary but also makes you the part of the business by giving you ESOP i.e. Employee Stock Options. ESOP is the share of company which is offered to an employee after certain years of employment and meeting performance criteria at almost no cost.

Just imagine, when Amazon bought Flipkart at USD 14Bn, what will be value 0.001% (share equivalent) for an employee which received these shares via ESOP ..

It was INR 1 Crore!

Read more about ESOPs – https://financegrail.com/what-is-esop-employee-stock-ownership/

Its never later, start you journey to create wealth and own your future!

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