About the author: Born and raised in a lower Middle-class family, Amit Bhardwaj, 36, went on to graduate from IIT Guwahati. He started earning at the young age of 22 years. His first real earnings were from his internship in Germany where he did a research project for 3 months between his semester break. Even at an early age, he understood the power of saving, investing and compounding. He saved more than 50% during his internship and paid his semester fees from that. He started his professional career by working for an MNC before joining startups as a consultant. Currently, he lives in his own home. He invested in his primary residence home at the age of 32. This is his first book.
Summary of the book: Have you ever wondered that you have been working continuously for 10 years and earning a regular income but you have nothing to show for it? You have got promotions and increments still when you look at the level of wealth you have created it’s close to nothing. Where has the money gone? Did you spend all? Did you give it to someone else? Where is the money? Could it be because you never thought of creating wealth intentionally? All you wanted to become was rich and wealthy from a very young age. But the results are just the opposite. You are as poor now as you were before except for some items that you purchased along the way. Some holiday experiences that you gained along the way. But in your journey so far, you never sought out the tools that will make you wealthy. You never looked for them. To make it worse, you just piled up some nonsense stuff that is fast depreciating in value. Ignorance was bliss. But is it bliss now? Wealth creation needs intentionality and focus, It needs intensity. Intentionality and intensity are paramount in creating wealth. It certainly does not happen by chance. You need to make intentional efforts and stay on course to create wealth. This book answers these intriguing questions. It lays down the principle that if you follow you will surely create the level of wealth you dreamt of in your young days. And the best part is, it works!!!
The biggest tool to build your wealth is your income, your primary income. You may be a salaried individual or in a business. Your monthly income is a source for building your future wealth. If you don’t have any payments, you are left with the money. That’s called margin. Great! If you are left with money and if you invest it, over a constant period of time you will create an astounding amount of wealth. This book is based on this principle. It’s very simple yet powerful. In one line, your biggest wealth-building tool is your income and if you are not in debt and you do not have payments, then you have money and if you invest that money properly and over a sufficient period of time you will create wealth. This book will take you through this route. If your expectations are anything else but as stated above, you should not read further. This book will not tell you to create multiple sources of income stream or to become an entrepreneur or anything that is too hard to achieve. This book will not tell you secrets to get rich quickly. Read on if you are still interested to know how to become wealthy through your primary source of income.
- Can you tell us a little about your book?
Personal Finance principles are never taught to us in school or colleges. As a result During early years of working and regular earning, we make innumerable financial mistakes. We don’t even realize that these financial mistakes are going to cost us a lot, in terms of wealth creation, in the long run. Due to these innocent mistakes, Wealth may not be created what we dreamt of when we were starting. During early regular income years, We follow a lot of try and error method to grow financially and thus wasting a lot of money and energy. End results disappoint us. We try to reinvent the wheel and in doing so get frustrated. Instead, we should have followed a well laid out path and be patience for results to show up. But we wonder where the money has gone inspite of working for so many years? And that we have been working for so long but in terms of wealth created we have nothing to show for it? That leads to a lot of desperation and eventually below quality lifestyle. Financial Stress is one of the major worry in day to day lifestyle of people. What if everyone who is earning a regular income can reach to a certain high point in wealth creation? Can reach to a comfortable financial mountain top position. What if those early years mistakes can be avoided? Knowing well that what those mistakes will cost us in long run. What if we know from start what needs to be done to become wealthy at a young age? What if a plan is laid out before you already? All you have to do is walk down that path and that path leads to success. This book answers those intriguing questions. This book unveils the secret, so to say, to become wealthy and rich at a young age below 40. - Is there a specific event that inspired this story or was this an out of the blue idea?
I see so many young people who started earning making so many financial mistakes. Someone should tell them that this instant gratification may not lead to financial success down the line. These innocent financial mistakes are going to cost a lot in terms of wealth creation. How they budget is affordable EMIs instead What they should understand is the overall cost of value they purchased. Someone needs to educate young generation on personal finance. This book does same. - What got you writing in the first place?
Saw young people who started earning just now buying cars 4 or 5 times of their annual salary almost all in loan to impress others/society. What they don’t realized that borrowing money from market for a depreciating asset they signed a bond of slavery. Lenders are giving them such money because they know these young kids have bright future. They will earn and repay their loan. While in repaying Lenders will earn a comfortable 10-12% annual return. That’s ridiculous. Instant Gratification has its cost in long run. Poor becoming poor and rich becoming rich. Moreover, Young people are inculcating a habit of debt fuelled high life. A credit card paid ultra-luxuries. - Which part of your story connects the most with you? Why?
As a young person I too made many financial mistakes. As a result, couldn’t reach where I wanted to. But sooner I started studying and accumulating data for every financial principle out there. The results in few years overwhelmed me and I thought these simple principles must be taught to others. - What makes your book the one to read?
Personal Finance Education. Everyone should learn these principles. At least they should know them. - What was the best advice you got while writing?
Write straight from heart. As you are teaching a class. - Who’s your all-time favourite author? Which book of his/hers made you fall in love with them?
Paulo Coelho. The Alchemist - What is your evergreen tip to the writers out there?
Pick a good story and give minutest details possible in story. - What was your hardest scene to write?
Build a Solid foundation – Because everyone knows about it that we need to build a solid foundation. - Do you have another plot brewing?
Amazon Link: https://www.amazon.in/dp/9357762647?ref=myi_title_dp
