Is your money working hard ?

September 1st, 2007 by Samir | EMail This Post | 554 Views

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Yes, it is true that we all work hard. ( Well, most of us )

Question is — Is your money working hard too ?

I keep asking this question to myself and so far I have not been very happy with the way I have managed my money.

I am working harder then money. Ideally, money should be working harder then me That’s what I want. That’s what we all want and that’s how it SHOULD BE ! If it is not so… something is not right… or let’s say there is lot of scope to improve.

One can’t be dependent on “job” all the time to make money. I strongly feel that something is DEFINITELY wrong with that model. Ideally, one should be building assets. One should not work to make money all the time. Money should be working for us. One should work just enough to gather/collect money so that it can start working for you. That’s what is my thinking. I am sure that it is not easy to reach to the level when money can start working for you. Hey, but one gotta begin somewhere, right ?

If my current work is not helping me build an asset or equity, which will work for me after some time — something is wrong. I am constantly trying to be aware of the situation. It is not very difficult to fall in trap of “job” and “work” without realizing that we are not building assets nor we are investing our money smartly so that money can work for us.

So bottom line is very clear — MAKE YOUR MONEY WORK HARDER !

Question is how ? Two immediate words come to my mind.

Entrepreneurship
Smart Investments

We all can imagine that investment and entrepreneurship both have many challenges. Otherwise, everyone would have been entrepreneur.

Well, I am on my way for the first one — entrepreneurship — and trying to figure out the second one, which is equally important as first one. Investment is very interesting and diverse field. There are so many options, strategy, matrix that it is easy to get confused, if investment goals are not clearly defined and executed. One needs to be careful to decide the portfolio of investment. Also investment is continuous process and it is not a single event just like entrepreneurship. I have realized that at least.

So if I have not done great job on it so far… I still got more opportunities ahead. I just need to grab them at right time

So ask yourself this question today — Is your money working hard for you ? think about it and answer of this question starts bothering you realizing that money is not working hard for you ( like myself ), it is a good start !

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6 Responses to “Is your money working hard ?”

on 05 Sep 2007 at 6:38 am Kamal Vyas

Yes.It is true that Hard Money becomes Easy Money only after when your Money starts working hard.

To generate more money yr Money should work hard and not yourself.
on 05 Sep 2007 at 8:12 am A D

You need a manager to manage the “work” of your money and make sure it is working hard.
Let me know when you are ready for a manager for your money — I can help you make your money work hard for you for a small price.
on 05 Sep 2007 at 9:26 am Samir

Mr Alay Desai

Thanks for offer.
I will love to do that, if it really works and you can convince me about your investment strategy. After all, hiring right person is not only important, but critical for entrepreneurship.

What is the ROI you assure ?

-Samir
on 05 Sep 2007 at 1:42 pm Prerak

Good topic. And nice article too…

I totally agree… no point adding up in bank balance if that money is not working hard for you. Unfortunately that is usually the case but one shall always explore possibilities.

Haven’t ventured into enterprenureship yet… hopefully one day! But for investment… i believe in simple word - “DELEGATE”. You don’t have to do everything yourself… you do what you could be good at -earn, save, pile… but then let expert manage them to make sure that pile works hard for you and grows There would be cost but as long as cost compensates for additional returns (that what you would have got yourself), there is nothing to loose That doesn’t mean that you aim low… but something to keep in mind.

Besides, there could be one BIG downside of managing your own money (if you are not expert)…you can get emotionally attach and may not be able to make right decisions at right time. Have been burnt once and have learned my lesson hard way
on 05 Sep 2007 at 11:17 pm Samir

Very true Prerak. Thanks for your note.

Delegation is any art, if mastered well, can make your life much easier. Paying reasonable cost is part of it as long as overall returns/results are assured.

Also in other words, one should focus on his/her core competencies rather then trying to do all by himself or herself. It is not going to work in Today’s world.

In software world, outsourcing is an example of same point. One needs to be careful about who to and how much to outsource. For business it is very important for scaling. Any small business faces scaling issues at some point of time. If outsourcing/delegating is not done correctly, company is very likely to have scaling ( or even failure ) issues.

Couldn’t agree more with you.

-Samir
on 06 Sep 2007 at 7:59 am Samir

Prerak,

I will also like to add a point that investments is a process and not an event. So one gotta stay in the game and figure out better way, if one is not working. Rotation of money is important factor. All stock market investor will also emphasize importance of “exit” strategy, which is actually true for all investments. So before you enter into any investment, make sure you have an exit plan with proper returns matrix defined. Being greedy with returns isn’t smart strategy. As they say, being greedy with returns will bite you back one or other time Be careful there.

-Samir