Money Series: Part 32

By: Tarun Prakash Srivastava, Sr. Executive Editor-ICN Group

Financial booster is a very important idea because the history is witnessing that growth is never available at a constant speed, but it is always in the form of high-speed bumps.

According to me, for the best investment of this additional amount, he should invest an amount of Rs.500/- per month on value adding motivational books, positive workshops, using audio and videos; have company and meetings with successful, inspiring people to provide excellence to his life. He should further invest an amount of Rs. 500/- approx per month on health insurance of the family so that he can better prepare his income in the future to grow efficiently and with no mental pressure of suddenly facing the health problems of himself and his family and their expenditure. With the remaining amount of additional income, he can maintain its current level of living. Let’s see, the annual progress of Saksham:

First Year :

It has already been clarified that Saksham is working on a salary of thirty thousand rupees per month in any department or establishment at present and following the principle of “first payment to self.” Saksham, in the first year, pays Rs. 7000 / – per month to himself and he deposits it regularly throughout the year with his bank under the scheme of fixed or recurring plans or a recurring deposit (fixed or recurring deposit) he receives an interest benefit of an additional installment of a month, i.e.,Rs. 7,000/- and as such, at the end of the first year, he creates his asset of Rs. 91,000/ only.

Second year :

In the second year, he has a balance of Rs 91,000 / – of the first year, and he finds salary increase by Rs 1000 / – also, and as such, he pays Rs. 8000 / – only to himself throughout the years and he deposits it regularly with his bank under the scheme of a recurring plan and he receives an interest benefit of an additional installment of a month, i.e., Rs. 8,000/- and as such, at the end of the first year, he creates his asset of Rs. 1,04,000/- by his saving made in the second year and now he has created consolidated assets of Rs. 1,95,000/ only at the end of the second year.

Third year

With the interest accrued on the first and second year deposits at the rate of 7%, the consolidated amount of     Rs. 2,08,650 / – is already available in the third year and Saksham saves an amount of Rs.1,17, 000/ – in the third year also and as such, the total value of the asset created comes to Rs. 3,25,650 / –only. At the end of this year, Saksham should purchase a plot of land (or any other suitable beneficiary investment) by investing this fund, so that it can earn the profit at a higher rate. Note a tip- whenever you think that your financial situation is getting substantial improvement, you should use that income or a large portion of it in the investment under the supervision of a skilled counselor for making profits at a higher rate, so that you can jump over normal speed of earning to overcome the speed of time. I call such efforts ‘financial boosters’. The more “financial boosters” you have in your money travel, you will be able to change the normal momentum of time to faster to reach to the peak of financial success, but with such efforts, proper and advance assessment and study of advantages and disadvantages of the ventures are very important. Success is the name of completing the journey at a much faster pace than the fixed speed of time. In the race, the winner is one who achieves his goal in the shortest possible time. Financial booster is a very important idea because the history is witnessing that growth is never available at a constant speed, but it is always in the form of high-speed bumps.

Fourth year

Following the principle of ‘First Payment to Self,’ this year, Saksham pays Rs. 10,000 / – per month to himself and deposits it in the form of a fixed or recurring deposit (Fixed and Recurring Deposit) in which he receives an additional interest of one month’s extra income. At the end of the fourth year, he has an asset worth Rs.1, 30,000 / –. It is in addition to the ownership of a plot purchased in the past/appropriated investment made earlier.

Fifth year

This year, the amount of Rs.1,39,100/ – with 7% interest of the fourth year saving is already available. Following the same principle, Saksham pays himself Rs. 11,000/- per month and deposits the same in the same manner and creates an additional sum of Rs. 144,000/ –only.  Saksham is advised to sell the plot of land purchased by him in the third year with profit @ 40%, i.e., for Rs. 4,55,910/- only, and as such, the total sum of all these incomes goes to Rs. 7,39,010/ – only, and Saksham achieves his first goal with 147.80% success rate.

If Saksham’s works on this scheme, 147.80% success is clearly visible in the beginning. Here, I also need to clarify that in every journey, only a slight way is seen at the first step but if we start the journey by caution, carefulness, and awareness of our brain, we will get many new and effective options at every step. And in a five-year journey, you can have many options to turn your success into more success than hundred percent successes. I advise that Saksham should start its journey immediately with fearlessness and optimism for achieving this goal.

Tarun Prakash Srivastava

From my book ‘Science of Money’ available on Amazon.com in English at http://bit.ly/Science-Of-Money  and in Hindi at http://bit.ly 

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