Discover a different way of thinking about making money, saving, and investing that goes beyond just financial goals. In this article, we’ll show you how aligning your money plans with important life moments can make you feel really happy. You’ll also hear from retirees who found priceless assets as they managed their money.
The Context
To give investment opportunities their actual meaning, one must understand some priceless outcomes — PlanB
Our articles on mindset are designed to help you develop matured attitudes that transcend the typical belief systems held by ordinary investors.
To help you become a relaxed investor, today’s article covers the fundamentals of definitive outcomes for all investing ambitions known to mankind.
Building million-dollar portfolios and amassing assets is exciting, but have you ever considered what purpose they ultimately serve?
No, it’s not retirement, real estate, jewelry, a car, a phone, or a big TV – that are usually the conventional financial priorities for most individuals. In all of its richness, we are aiming to portray the real meaning of earning, saving & investing.
Thus, the purpose of this unconventional article is to alter your viewpoint and assist you in aligning your overall investment plan with its clear and more significant eventualities. While looking for an answer to this question, we spoke to a lot of older people who amassed wealth throughout their lives”Discover a different way of thinking about making money, saving, and investing that goes beyond just financial goals. In this article, we’ll show you how aligning your money plans with important life moments can make you feel really happy. You’ll also hear from retirees who found priceless treasures as they managed their money.”.
This lot is now retired, settled & fulfilled with their lives, and have no troubles with money or assets and we came to some fascinating findings. Regardless of how cliche it sounds, each financial asset in the context of a shorter time horizon simply turns out to be merely a means for achieving very few long-term priceless acquisitions.
What Are Priceless Assets?
Most long-term investment projects ventured by retail investors have a specific end goal in mind. Nevertheless, achieving that goal can be difficult, especially if you approach it from an ordinary perspective.
In the heedless pursuit of asset acquisition, the right motivations are usually disregarded, which leads to expensive arrangements in later life. Our search for the most priceless assets extends beyond stocks, bonds, real estate, and commodities.
Instead of being an activity motivated by reward, happenstance, and randomness, we discovered that investing is a process that calls for a sense of greater cognition. No matter which route you choose, you’ll eventually direct your quest to locate these priceless assets with all your cash gains at one point.
Not wanting to spoil the show, they are as follows –
≡ Time
Although the adage “time is money” is widely used in business contexts, there is much more to it. Time is the most precious resource we have, how we choose to use it determines who we are and what we are capable of in life.
Time is among the few things in life that you can never get back, making it one of the greatest priceless assets for humans. Picture “Time” is a scarce and unique resource, just like gold or bitcoins. Therefore, it has a significant value than what the majority of people usually think.
Experienced investors understand this to be true, thus they prefer to design their financial portfolios to provide a passive income. This strategy enables them to free up their time when accumulating materialistic acquisitions. To better clarify the importance of this component, let’s use a simple example. Did you know that a salaried person has a lifetime cap of 72,800 productive hours?
That is if you begin working at the age of 25 and continue doing so for a standard 8-hour workday until you are 60! If paid productive hours were credit points, let’s imagine how a person making ~Rs.500 per hour (Rs.86,600 per month @ a typical 40-hour work week) would trade his life. He will have to cough up 180 hours of his productive life if he chooses to own an Apple iPhone, which costs approximately Rs.90,000.
That equates to productive life credits worth 0.25%.
To get an SUV (once) that costs about Rs.18 lakhs, he would need to exchange roughly 3,600 hours’ worth of his productive life.
That is a staggering 4.9% in productive life credits!
A typical Indian buys roughly 4 automobiles in his or her lifetime, which, given that Indian cars have an average lifespan of about 6-8 years – adds up to about 20% worth of life credits over time only for cars!
Similarly, that would be an eye-popping 41% worth of productive life credits to purchase a condo that costs about Rs.1.5 crores. If you want to integrate this priceless asset into your life’s portfolio, you must create “time assets” to overcome this frantic condition.
The decisions or actions you take now that will save you time, later on, are known as “building time assets.”
An excellent example of a time asset is a stock that pays out a profit as dividends. A dividend stock can be purchased and held once, and it will continue to produce yields for you over time, filling in a little portion of what you get paid for your time at work. Other examples may include passive income streams such as real estate rentals, software, patents, royalties, or consulting kind of skills.
≡ Health
A sound mind can only be found in a sound body, so investing in health brings together our next case in search of priceless assets.
It is burdensome to have poor health.
A significant amount of money is spent on medications to maintain or enhance the health status and quality of life of unhealthy people, who must rely on others. For instance, the average cost of a heart bypass in India is around Rs.5 lakh rupees, which, in the context of the “Time” illustration above, works out to 1.4% worth of productive life credits.
Not to mention other effects that could emerge from a lower life expectancy, which can result in fewer productive life credits. According to a study featured in the Sage Journal, the average lifetime cost of managing diabetes in India is calculated to be Rs.19,45,135.
Although it isn’t discussed in conjunction with investing anywhere, any form of prolonged sickness is equivalent to a nightmare for an average person seeking to invest and build wealth simultaneously.
There could be countless examples, but we think you get the idea! If you are in good health, you can handle any circumstance in life with ease and take pleasure in it while using the money you have saved.
To flourish, health should be seen as a priceless asset that is worth investing in.
≡ People
Another priceless asset that is frequently disregarded by many people is people. According to a popular saying, you develop into the average of the six people you spend the most time with.
Being around positive individuals increases your chances of succeeding in life. On the other hand, negative, envious, and manipulative people tend to draw your attention away from important issues that matter. Success is a state of one’s intrinsic conformity that is significantly impacted by the company we keep.
Creating this priceless asset is essentially free but has the potential to pay off handsomely in the long term. The best support system can be chosen rather easily.
If you love playing golf then play golf with people who are more experienced than you; not those lousy beginners.
A progressive lot is always perceived as self-motivated and guided by reason that can be put into practice. The less advanced form exhibits emotional drama, delusion, and victimization.
Inept people frequently exhibit an obsession with tangible attractions making them average or below-average investors.
Memorize to quit thinking like a student as you grasp this idea. When you master this thought, think about how you may teach others as you evolve.
≡ Mind
You may be excellent at protecting your material belongings, but do you know how to protect your mind?
Many additional aspects of life might impair our mental health. This includes sedentary habits, excessive use of technology, peer pressure, unhealthy diets, abuse, toxic relationships, addiction, and so on.
It makes sense to have a plan in place for keeping our thoughts strong in light of all the potentially harmful influences in our environment. Since self-consciousness is the most elusive, difficult, and priceless asset to obtain, it also often demands making hard choices and a great amount of effort to develop.
To achieve mental equilibrium, it’s not essential to get rid of all unpleasant emotions or thoughts. All that’s required is cautious navigation through the stormy rapids in quest of calmer waters.
It will only get worse if you numb, deny, or avoid discomfort and worry.
Don’t ignore or condemn your emotions, be curious and tolerant instead.
Although money is meaningless in this circumstance, the following are some helpful recommendations to protect your intellect.
1. Seek Solitude
Go outside and spend some time in the fresh air, read a book, be your own best friend, or engage in non-competitive DIY projects like playing with numbers to solve puzzles.
2. Forgive
It will be simpler to forgive someone who injured you and set yourself free if you can muster compassion for them rather than linger in resentment. Afterward, you can choose to engage with these people or just shut them off as a choice.
There are moments when ignorance is bliss.
3. Be Receptive
Stop assuming that others can fully comprehend you or your emotions in their authentic form. Every mind has a distinct way of thinking and seeing the world.
Even if you are correct, don’t force your beliefs on others if they don’t share your convictions. Do your best to accept and learn each viewpoint, but resist trying to solve every problem with your innate values.
4. Contribute
Learn about your support system and make connections with individuals and ideas to revise your views. When you do something nice for someone else, don’t expect anything in return. Tell them to pay it forward if they ask what they can do for you.
This could be in the form of imparting knowledge, providing service at a nursing home, or spending time with children at an orphanage Please refrain from sharing the experience on social media to spare yourself from guilt later in the future.
You can also help someone else by applying your interest. For instance, if you have a passion for finance, consider sharing your skills to help someone become more stable in life. This way, you get to feel satisfied while doing something you love, while someone else gets the help they need.
A win-win affair!
Conclusion
The three main short-term goals of investment are safety, income, and capital gains, however, they all ultimately lead to a small number of supreme objectives. Building financial portfolios would seem to be more exact in terms of the goals, as you must have realized that real assets exist outside the world of material possessions. No matter how much money we make or how far ahead we are in this sprint, eventually, we will all want to possess these priceless assets.
Better still, if it happens sooner.
This concludes our greatest hunt to identify some priceless assets. Hope you find the knowledge documented in this article inspiring.
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