I WILL TEACH YOU TO BE RICH 📚 (Book Summary)

0:00 Friends, once something like this happens that Ramesh Sethi, who is a Facebook offer, goes to a party and he stands among some people to talk to them, all of whom are oversize, that is, fat, and then he quietly listens to their conversation, then the first one tells the second one that you should consume more protein, it will not cause fat build-up in your body, then the second one says that look, the account of all the steps I walk shows in my smart watch, then the second one says that your metabolism is slow, you should drink grape juice first thing in the morning, otherwise the first juice will be better, so whenever they hear such things, they laugh a lot because maybe these people are right, but these people are focusing on the wrong things because if you want to reduce your weight, then you should

0:46 focus on only two things, you should exercise more and control your diet, that means only top level sports players and athletes who need to focus on such small things, why is it so, how many steps are you walking and how much protein is he consuming. But still I will see you focusing on such small things which are not so important for them because like losing weight, in becoming rich also you should focus on these things in the main and not on small things like someone has advised you that when you go out for lunch with your family once a month, you will have to sacrifice it because that ₹ 2000 which you spend from there, you could have invested it and become rich or has anyone ever told you that you should withdraw your

1:32 savings from a 6.2% rate add-on and deposit it in a 0.3% rate add-on or which net IPO should you apply for? If you hear all this from people then these people are the same who focus on very small things which have very little effect on you becoming rich and doing everything in the financial system. In fact, by doing such things you will definitely feel that you are doing something in your financial life or in your life but in some days of activity you will not be able to do anything. Exams will start and you will not be able to focus on media bacteria, you will not be able to see the big picture and will quickly get stuck. This is like the bank does not give you a paper receipt after withdrawing money in an ATM, that is why they do not want to harm the environment, but in the same ATM, two air conditioners keep running for 24 hours, while

2:18 people spend only one or two minutes in the ATM during the day and the rest of the time that ATM remains empty, so there is a debate on energy and the environment is getting more harm than that, so all this is just a thing in name, it is not useful, if we talk about useful things now, then friends, you should actually focus on big things which have a big impact on your financial life, like before investing, you should stick to your high interest people because many people have seen that they are paying 20% ​​of the interest on a personal loan and then saving in a sick person's account, thinking that the ATM will not need to worry about money in the feature and their future will be secure, but according to me If you have any other loan apart from home loan, then you should repay it in full at the earliest and then start investing

3:04 because profit from investing is not guaranteed. You will learn investing now and will make many mistakes. There is no guarantee when you will get a return of ten to fifteen percent in a year or not. But you have to pay the interest on your loan, so that is why you can invest from the left amount to learn but your first focus should be on repaying your loan. Then the second big thing is that you should record the investment and reduce your hips. For example, if you apply for an IPO once in which you invest 10240 rupees but every month you spend thousands of rupees in entertainment, which you could have easily stopped just by thinking once with a cool mind. For example, if you buy an expensive car or a very big house or take other entertainment services, then to maintain it,

3:51 you have to pay this recurring i.e. continuous. So here your express is recurring but Investments are made occasionally, so it is clearly visible that you do not have a life balance, so the best situation would be that you fix your investments through SIP and do your expenses and entertainment manually and occasionally, about which you have to think again and again, like if you go to dinner with your family sometimes, once in a month, sometimes you go on vacation, then this is not a big decision because you are actually living a life and this is not a fixed cost which will happen every month and you are also doing this with it, so first it happens to you and then you enjoy the money that is saved, we will cover more details of this in the last of the video, but you must have got some idea,

4:36 then the third big thing is that you should slow down as much amount as possible in your retirement fund like various people schemes because it gives you tax benefits and even if you want, you cannot oppose it quickly, there are many limitations in it, due to which it actually gains from computing power in the long term So those who do not understand the company's tower, they will also take advantage of it. Then the fourth big thing is to focus on bonuses in your office, focus on promotion or focus on declaring your salary because if you get promotion and once your salary increases by thirty percent, then you will keep getting extra income for life just by doing good work once or you can do any friend work side by side with your job, by this you will earn extra income and

5:22 also learn extra skills, there will be benefit on both sides and if it is successful then you can convert it into a big business or finally you can directly start a business because all the rich people are business owners, it is not necessary that you should start a big business with a very big capital, you can start with a small one also but think big and if your business is successful then your personal life can go in a different direction which you would have never imagined. So friends, these are the six big things on which if you focus, then you can make your life successful. I can go out for dinner or vacation with my family as many times as I want, it wo n't make much difference, I have won over the big useless things, now friends, all these are very common sense things, but they don't come to people's mind, that's why I give personal finance related news from

6:09 time to time and I will keep sharing its news with you, so if you haven't subscribed to this channel, then do it quickly and do like the video so that I get to know that Rahu is reaching you, so if you set the consumption, then yours too will improve MS Word, I am listening to this book in audio version for the first time from the platform of Kuevan which is our educational sponsor today, this is India's leading audio podcasting platform where since 2017 more content is available, a very difficult book like self-help investing in fiction and non-fiction books are available here in audio format because friends, a lot of people want to improve their life and want to achieve success and everyone knows that through Bigg Boss our The journey can be quite long but people are unable to read it because they do not have the habit, so that's why right now we are fronting this app for the new

6:55 year to bring a new change in your life in the new year, if you use two cheat codes in 150 then you will get 50% discount on their subscription, this offer is valid only till the first of January, so you will find the link to download this app in the description below, now you can go there and check it, now friends, you know what is the biggest cheat for us, all the more than hundred percent people, they all had started investing at some time in their life and that too seriously and in the right way because all the people who are here have one thing missing, either they never started investing and have used MS Word, so they have taken it casually and get stuck quickly, when people are here, they immediately tell that they have a very small amount to invest

7:41 like they have ₹ 5000, so it's a joke, so if we If we invest Rs. 10000 in a stock, we get only 108% of it, which is very small, but in the future when these people grow and when they get more money, then also if we do not have the knowledge to invest a large amount and do not have enough time to learn investing, then they spend a lot of money because they have very good knowledge about which stock is going to be invested in, then they say that how will we find out what is best for us, whether it is a mutual fund or a stock, small cap or large cap, and how else can we find out which investing platform and broker is best for us, so friends, for this I will give you a simple tip called

8:28 15 per cent rule, now it means that this is much better than that percent right next to nothing at all, which means instead of finding the best mutual funds, if you invest in a simple index fund, then you will automatically become eighty five percent because There is not much difference between good mutual funds and index funds in the first four-five years and you don't need to waste time in finding out which broker is the best or whose mobile app is the best. You should keep it simple and choose the one which has low fees and Reliance. There is very little difference between the best broker and West Bank whereas you get an additional mobile app and you get the option to buy and sell the funds while sitting at home. In the beginning, if you

9:13 invest a small amount, then after a few years, the flavour of your investments will change. So which app is best for you or you can find out yourself. That is why the important question is that you at least start investing and you buy a good account for investing savings. So if you still don't have an investment account, then it is not anyone else's fault but yours only because today we can open an investment account for free. The entire process is online and it costs only Rs. 100-200. You can also invest with money, nowadays everyone has it, so that's why there is a very famous Chinese proverb that the best time to invest was just years ago, the second best time is today, it is not written anywhere in it that if you have a lot of money, then you should invest when your

9:59 knowledge improves, and friends, many people ask me that with whom do I have an account, so my account is with Angel Broking and Staff, which I have chosen after changing a lot of products, so the links to open an account with them are in the description below, you can go there and open your investment account online for free, now friends, we humans are very weak by nature, today you will get motivated by watching these videos, then you will start investing a little and will keep investing like this for a few months, but after this there are strong chances that you will get busy in your life after six months or a year, that freshness and fashion will keep decreasing regarding your financial freedom and then you will get into the habit of watching any serious on the same network, You will get busy in a boring job, so if you are motivated today and determined that you have to do the

10:45 finance system thing and become rich, then you have to automate this knowledge because the message does not need to be motivated again and again, so that is why according to Avtar, you should keep a hybrid savings account and a current account, but because in India you should have a business to travel to Karnataka, so according to me you should keep two separate savings accounts minimum, one such bundle in which you keep funds only for short term savings and expenses, which we call daily expense account and the second savings account will be for the first investment, from which there will be funds of your life through which you will invest in the box and in return you will get the difference of stock in the same account, so it will be very easy for you to track, so as soon as you get salary, first of all you transfer it to the same account

11:31 through which you invest so that your investments do not get missed and they get first priority and if you If you ever get a bonus, you should top it up in the investment account and the difference you get, you will be able to read it because it will be in the same account through which you invest and if you think what is the benefit of investing a small difference, then when I come to test the difference in waiting this time, you will be shocked to see how much difference reinvesting a small difference makes in the long term, so that's why you have to do this that you will invest at least ten percent of your monthly salary and keep 50% of all household expenses and ten percent in savings for emergency and the remaining 20% ​​can be suspended where you enjoy which is called 9th grade fee pending

12:19 because friends, ultimately why do we work so hard all day because we can live our life with freedom and do the things we like happily, so that's why the best thing I found in this book is that we select if you have any interest in something If you have a hobby like buying an expensive car, using a specific artist or anything else, then you do n't need to feel guilty while spending money there that you have wasted money, you just have to decide which thing in your life makes you the happiest and then spending on it is absolutely okay. If you can control your expenses elsewhere, like this project which is 25 years old and it is set at Rs. 10000 from his salary because he has to travel the whole world, then this is an expense and his salary is not very high, so he works on

13:04 ₹ 50 per month, so can Jackie achieve financial freedom in the next 10 years, the answer is yes because he controls his expenses elsewhere that he has not taken any loan, he uses public transport, lives at his parent's house, eats home-cooked food and doesn't go to many parties, then he invests fifty percent of his salary by setting Rs. 25000 as the unit cost. He keeps Rs. 10000 for travelling to his favourite place and the rest goes to his parents as household expenses. Or you can see Monty who spends Rs . 10000 on a car from his 30,000 per month salary because Monty owns his own house and he is very fond of cars and he enjoys going on long drives with his special people in his car and apart from that there are no

13:50 expenses after that. Otherwise, he also invests 20% of his salary in stocks and is way ahead through the financial system. But if Saturn sees this, then the person goes out for a trip every three months, puts his photos on the internet and Monty roams all over India in his car, then I should also do this, buy a car and go on a world tour, whereas actually Sunny has taken a home loan and fifty percent of his salary goes into his Mi, so here he can have a very big problem. So it should not be that you want to spend your money everywhere, if this happens then even the richest of the rich people are on the road very soon. Mike Tyson, who was a famous boxer, had earned millions in his career, but today he is living a very poor life and he has to struggle financially.

14:36 Once music artist Rihanna had filed a legal case against her financial advisor that her financial advisor did not guide her properly because Rihanna had a breakdown even after earning a living, so on that her financial advisor said this to Brett Lee that if you spend money everywhere, then you will have to spend money on everything, you will end up with nothing, that means if you spend money everywhere, then you will have to spend money on something, now friends, you may find this thing a bit comedy, but you will get thousands of lottery minutes of study, which you get in which you blow it even after earning the balance and even crores of middle class people are not able to save anything even after making good money. They keep struggling below this level and keep working throughout their life and the result of their revision is that

15:22 which one, that is, they do not do this pending in their consciousness, so what should you do for your income, investments and expenses, all these three things will come under your control, only then you will get jewellery made and even today you start your pension funds journey as if you are 21 years old now and shave a small amount and paint the rest of the income in some obscene way, that is not to show to others but in such a place where you get happiness in FD, then you are rich from today itself, so friends, I hope that you must have got some or the other thing from this video, so definitely subscribe to this channel and press the bell icon so that you do not miss any such videos and you guys tell us by commenting below that which is that place in your life that you like to spend the most,

16:08 links to download the well and app to listen to audio books are in the description below and the link to open online investment account for free is also in the description below You will find the video. If you like it, then like it. If you don't like it, then like it. Thank you and goodbye for giving your available time.