6 Habits of
Wealthy People
By Gaurav MashruwalaW
hat is the formula for a
long life? The likely answer
will be a healthy lifestyle and
good fitness and nutrition habits. This
is true for your financial health too.
We financial planners are bombarded
by questions on quick money-making
formulae from our clients, but ifthere was a secret formula, we’d be
the wealthiest people on the planet.
Making money and creating wealth
is simply a function of good habit—
habits that need to be developed and
nurtured over a period of time until it
becomes part of us.
There are some popular notions
that abound. A life-insurance coverage
that is 10 times your annual income
is one. Another is spreading your
investment portfolio across equity
(shares) and debt (bonds, debentures
or fixed deposits) and splitting them
according to your age. There is a view
that if you are 38 years old, 62 per
cent (your age subtracted from 100) of
your investments should be in equity
and the rest in debt instruments.
However, I would steer clear of such a
formulaic approach.
There are some steps, that should
become habits, to take you towardsReader’s DigestMONEY
There’s only one secret to making money—find out now
42 february 2020