TOP 10 Secrets To WEALTH Creation ft. Sandeep Jethwani | How To Get RICH? | FO 56 - Raj Shamani

10 ways how to create wealth in your. life faster than anyone else because. wealth is a mindset more than a goal so. understand these things with me and. Sandeep jaitwani from deserve. and watch this episode till the end so. so we're gonna be discussing 10 steps. not 10 steps actually six six not six. I'll include four okay. so we're gonna be talking about 10 major.

points or 10 things which people should. consider while creating wealth or this. is how you should go about so you have a. framework for it yeah that's a create. wealth so if you want to create wealth. yeah it starts with create yeah so. create all gaps okay because each of. these letters stands for something okay. and I'll start with the first one okay. and would love to know what you think. about some of the other things that you. have on your mind so C for me is. compounding all right and compounding to. me is the biggest investment secret.

hiding in plain sight right uh our. brains unfortunately are wired to act on. what we see in the last three days and. not in the last three years and that's. what breaks compounding but if you could. compound our money that would be one of. the biggest things you could do to grow. your wealth so you you mean that that. quote is going on now okay. like we overestimate what we can do in. one year and we underestimate what we. can do in 10 years yes absolutely is. that absolutely that is compounding uh.

because we don't realize when you're. living that moment uh and you're doing. the small small incremental things. whether it's with your career your life. or your money that over time it'll add. up to something really large yeah so so. I'll give you a second Point yeah is I. feel. understanding yourself first is better. than understanding Market. so everyone who's like trying to make. money they all want to understand the. market which are the best Returns what. are the best strategies what are the. best things yes I think it starts with. under understanding yourself like how.

much are you making what is your style. how much time can you put what are your. interest levels what is your risk. ability like just understanding yourself. yes more than before you even start. thinking of understanding the market and. therefore what works for somebody else. may not work for you because you are. different people because one of the. things we end up doing is asking other. people here where are you investing yeah. you know and uh he or she might have a. very different context oh yes it's and. you know I've seen like things which has.

worked for me haven't worked for my. friends and like things which. like didn't work for me worked for them. yeah absolutely are you the same. timeline investing is very personal very. personal yeah okay so second point you. were saying third point is so for me. it's R it's rational investing right uh. and I love this concept of the uh. irrational monkey the instant. gratification monkey sitting in our head. that makes us behave irrationally with. our money uh we end up like uh looking.

at what others are doing uh not thinking. long term Etc so I think just being. rational calm about how you think about. your money is very important to us so. that to me is like the second thing. which is rational investing the. rationalist being logical about what. you're doing being logical being thought. through being cognizant conscious and. not just rushing into things.

you know like that that's a funny saying. like I keep telling my team that you. know what wins in the world is the thing. which looks like it's winning. right yeah like for a lot of people. eating and that's the worst way to think. about your investment yeah like maybe a. marketing product works like that but. Investments don't Investments don't they. it looks like it will work for some time. but then when it comes crashing down. then it comes down.

so for me the point number four is. we all should have an investing Plan. before we have a spending plan so for. example everybody is thinking about my. salary is gonna get credited at this. this day I'll spend on this I'll go buy. clothes I'll put my Emi in the buying. the car yeah I'll go out and plan a. vacation everybody has planned their. spending way before they've even made. the money yeah what they should be doing. is planning their investing and then.

whatever is left and be the spending. part absolutely I think uh because then. you'll not spend on things which you. don't really need exactly right like. because most of us I mean I have not met. anyone till now who's thinking about not. thinking about the vacation they want to. take two years from now versus and I. have thought about yeah two years from. now if I'm gonna get settled this is. what I need yeah I think buying. something getting a new.

piece of apparel or something is so like. it's such a dopamine hit right like you. feel good in that moment yeah uh and I. think that instant gratification again. right uh you feel good right then but. you're foregoing potentially something. that could have made money for you money. for you that that gets at the first. point your first point yeah 10 years. versus instantly yeah okay I'll go with. uh my third point the fifth Point. overall which is e which is excitement.

is your enemy okay uh a lot of times we. end up uh investing in exciting Concepts. like uh and I think making money and. excitement uh are two very different uh. things and sometimes when uh we talk to. people and they say that exciting so we. ask them do you want entertainment or do. you want returns right and I think uh. and think about it like half the time we. are like in uh party conversations we're.

asking each other. what's interesting what should we be. doing that's all seeking excitement. right yeah nice they may entertainment. and that's a good way to think about it. correct yeah because most of the most of. the Investments That Make You. incremental wealth are boring yes a real. investing is very boring okay like if. you look at Warren Buffet there is a. stock of Coca-Cola that he had for 40.

years I mean who holds the stock for 40. years and what like you turn up to work. and say what like I'm holding it now. I'll hold it for another 10 years right. it's not exciting it's boring but it. made a lot of money for him yeah that. makes we all look at Coca-Cola but. yeah pay attention Okay so the sixth. point for me is that. knowing where your money is going is. equally important to knowing where your. money is coming from most of the people.

focus on how can I make more how can I. learn more to make more how can I get my. promotion how can I focus on my side. ourselves instead of also focusing about. how much do I know about where my money. is going yeah like what percentage is. going to food what percent is going to. rent what percent is going to my wants. what person need what entertainment like. people should have that that would give. them better Clarity on how much do they. need to make or how much do they need to. cut on certain things yeah I think when. you put real data out you do a double.

take right you say oh really have I. spent so much money on ordering in uh. and that will only happen if you know. where your money actually went right and. that's when you can optimize you can. potentially. cut down on some potentially bad habits. that you have yeah like I mean most. people say. but if you're fundamentally floppers. flawed person yeah. because you keep increasing your. expenses way faster than you increase.

your right generating capacity. absolutely absolutely very interesting. that makes a lot of sense so then now is. a for you a is about Act only when. really necessary right okay so uh here's. the thing like you know back in the. Medieval Times early when we were in. probably animals and forests Etc we are. trained to act right and if we wouldn't. act so we'd get eaten by a tiger or uh. eaten by a bear or something like that.

right so our brains are wired to act. when it comes to investing sometimes. just not acting is okay like you don't. have to react to every situation you. don't have to do something about every. new piece of information that you got. right today uh RBI raised interest rates. what should you do with your portfolio. probably nothing. right uh and just like that sense of. calm that it's okay you don't need to. act not acting is also a decision.

right and sometimes we feel that we are. busier we are smarter when we are doing. something. Netflix and chill is probably the right. thing. sense because every time the people who. invest because if a lot of news and lot. of uh sentiment around them yeah they're. always panicking about oh yeah. politics and they keep like there's a. constant need to should I sell it should.

I buy it should I do this and they keep. asking you know there's so much. information overloads right all of us. have gone gone and joined these telegram. WhatsApp groups where we are getting. bombarded with information which has. nothing to do with our portfolio with. our portfolio right then there is this. so social media Twitter is a buzz with. this company. it doesn't matter man it's like your. invest in a stock even if you're doing. Stock Investing you're invest in a stock. quote probably many years so doesn't. matter what they did this quarter Fair.

there's one more inside which is more on. a mindset level which I feel which is. the next point for me the ninth point is. work to learn rather than work to earn. and I'll tell you why okay most of the. people when they want to increase their. income they're thinking about what are. the top 10 skills I can learn to. increase my income what are the skills. which will be highly paid in future yeah. my Excel is. like I did the thinking about that.

instead of so they are they're working. towards. like towards something which is only. going to help them earn more yeah. probably that's the worst approach. because then you're only acquiring. knowledge which is required not which. makes you an expert and you're not. investing in yourself then yeah so then. technically you're not investing you're. going in with the concept of you know is. transactional and I feel when you work.

to learn like you're going at a company. or you're working at a startup or you're. working on your skill yeah just to learn. like I'm really curious about knowing. this thing and how this thing works you. don't realize how. how well you know about it and the and. your income or the your income. generating capacity depends on how well. do you know about certain things versus. how many hyping skills you know yeah I. think that'll be a great business if. somebody can give some gratification for. learning uh at work right I think it'll.

be amazing like Salesforce did it by the. way they uh they introduced this concept. called badges okay which is like uh if. you like they wanted more people to be. aware on how to use Salesforce so every. time you learned one feature you would. get one badge and suddenly they saw a. spike in people figuring out how that. platform works because everyone was. accumulating badges nice what's a good. Insight I think we could Implement that. in our organization yeah absolutely like.

incentivized learning. okay so the last point for you two more. actually so uh T is for tolerance to. downside like you need to understand how. much loss you can handle. before you go in and make an investment. like figure out that what is how much. drop can happen in this portfolio and.

only if you can live with that. should you actually make an investment. because I've seen like uh the worst. investment decisions are made by people. when their portfolio is down because. they can't handle it I've seen the. wealthiest of folks who've invested in. equities when they've lost a few crores. they will say let's sell everything and. I don't want to do equities again in my. life. right I've made the mistake I should. have just stuck to that and at the very. worst time in the market they'll sell. everything right so understanding how.

much loss you can handle I think is a. very important part of investing it's I. think probably one of the biggest points. which you should actually consider when. you're investing yeah okay and that's it. like let's cover e for you as well. that's a bonus point a bonus point is uh. expertise right okay uh when you get to. high stake stuff uh you need an expert. now either you can become an expert so. invest your time learn how to invest or.

leave it with an expert. because I think that's really important. you're handling some really important. stuff a lot of your life decisions. choices in life whom you marry where you. live uh what you do will be dependent on. how much money you have and therefore. this is really high stakes and you need. an expert on your side I'll add to that. point okay so I was again reading a data. which was done in U.S from 70s to 2008. before the crash happened okay and the.

data was that 90 P more than 90 people. who actively traded in the market ended. up making less money than the index. be individually who are doing it okay so. it's always say it's always good to. either give it to an expert who. understands the market or you give it to. an index because anyway your chances of. actively making a lot of money is very. less because you don't understand it. fully because you're not an expert and. this is true right nitin uh of zeroda.

also said this that only one percent of. Traders make more money than fds. imagine he has this in an immense amount. of data available smartest Traders are. probably trading on the zero dollar. platform 99 of them are not making any. money. so there it's like if if you are not an. active invest active expert in something. rely on some experts yeah that makes. more sense and that's not a plug for. deserve I mean find your own expert but.

uh you need an expert with high stake. stuff it's like your health right you. need a doctor don't go to WebMD. okay let me let me just put out one. bonus Point as well because let's give. people like a step tell me if it's wrong. so I feel if you want to create wealth. you just need three kinds of Investments. one to risk it all so that you feel like. some amount of it is like high risk High. reward. the Angel Investing cryptos or whatever. second to play it a little safe but in a.

growth investing so that let's say. equities where you you know that a. certain level of Surety but not 100 so. it's a plate play but safely yeah and. third is to cover your ass that's an. emergency yeah so like three investors. so you just if you cover and diversify. your portfolio or like allocate your. Capital into three different kind of. Investments as per where you are today I. think you can have like a lot of control. so we have a similar thing going uh in.

how we think about money first is. protection like figure out the right. amount of money that you need for. emergency. second is markets like the right amount. of money for participating in what's. happening in the markets which will grow. economy will grow you will also grow and. third is aspiration which is uh Angel. Investing the exciting stuff uh with so. and in this order like first make sure. that you have enough money for your. protection for the first protection. protection markets and aspiration nice.

that's a better framework I'm gonna I'm. still you said it better though I just. explained it but I'm stealing it from. you I'm stealing I'm seeing so one two. so my thing was one for adventure one. for playing one for the game and one to. cover you yeah right and you always. maybe I'll steal that. nice so that was a create framework. thanks a lot for doing this I really. enjoyed incredible to be here. [Music].