When we ask some middle class people on their investments, we typically hear -“My earnings are not sufficient to meet my daily needs, then how can i invest?”. This is the typical reason most of the middle class people excuses themselves for not investing!.
Even Though a good financial advisor explains the need of investing, still some of them says excuses. Some says their salaries are not sufficient to meet the both ends, their job was lost due to corona etc. But these are all “Excuses” to not investing. What if an advisor asks before corona, they typically search for another reason, but here the real problem is their “Attitude”.
Do they think if they were unable to invest right now for their future due to uncontrollable expenses, how can they survive when they retire?
In India there is no social security schemes to help them during their retirement. They have to prepare themselves to be ready for retirement as there would be no income source at that point of them. They can’t depend on their children instead! They have to save some money for their retirement during their earning stages and invest that money for long-term in capital appreciation assets.
Capital appreciation assets includes Real Estate, Stocks, Mutual Funds and Gold(To some extent).If you invest in these assets in your earning stage, that corpus would take care of you during your retirement. This is what -“Money Works For You”!
If you preserve some money and invests in it in right asset. that money works for you during your retirement. Simply saying “Excuses” for not investing is “Deceiving” yourself! Everyone have expenses, but to lead a good financial future, one has to start investing Right Now!It is the responsibility of the bread winner to protect their family from financial threats in the future. If you are financially free today, your latter years will be more secure and happier!