Former US President George Bush has often been quoted saying that one must not focus just onmaking money, rather your focus should be on being successful, having a system that creates value for everyone and helps you be a better individual. Money is just a by product of all of this. This is a famous quote that has been used by many people all over the World. However, there are very few who can claim to have successfully followed it and achieved what they set out to do.
Retiring at 40 is one of those things that a lot of people wish to do, but find it hard to achieve. It is possible and people have done it! There are two ways to do this. One is the tried and tested path of starting your company, coming up with new products, taking it public and then retiring by the time you are 40. This is a much tougher task as compared to the other one that we suggest. Innovation, product development is not something that is possible for everyone.
The second and the most easiest way to do this is through investing. Disciplined investing! Investing has been in existence ever since business and trade have been in existence. Anyone can be a successful investor as long as he is disciplined in nature. One needs to focus only on a couple of things before jumping into the world of Finance. You need to be good with your numbers. It is a must for anyone to be good with numbers in order to read financial reports and make investment decisions. Secondly, one must be able to understand basic market fluctuations and realities. Understanding the demand and supply situation that exists or that will exist requires some skill. You should be willing to stay in touch with the current market scenario by connecting with the right people and reading the right books.
By doing these 2 activities, you are keeping yourself sharp and up to date with the current trends of all the industries. Investing is usually done in 3 major areas stocks, business investments (stake purchase) and debt markets. All three are ultimately dependant on your understanding of the market that the business operates in, its industry, competition, regulations, etc. It is your ability to gauge the potential of a business that helps you to make a great return on your investment.
A great example is the Billionaire investor & entrepreneur Richard Koch. A first generation entrepreneur, he started his own company by the name of L.E.K consulting. He was successful as a businessman and also as an investor. He credits his success to his policy of principles. He says that principles are ideas that enable you to sort the knowledge, help you analyze it, and get to essence of the matter as simple and quickly as possible.
Keeping a focus on your core abilities and interests helps you get ahead in life. By focusing on these, you know which industry interests you, whih industry do you see growth in and hence, which industry can give you thee best return on your investment.
The best way to do this is observe this from close quarters. You may do this by studying and networing at BSE Institute Ltd. BSE Institute Ltd (BIL) gives students and working professionals to get trained under industry professionals in order to be an ace investor. It offers a short term certificate course on Investment Banking – that trains participants to be a Global Investor.
In a fluid economy, only your knowledge of the markets can help you retire rich and retire quick. Keep reading more in order to keep learning more.