“Your salary doesn't make you a billionaire. Your savings make you a billionaire,” Kedia wrote, urging individuals to manage their money and avoid consumer-driven habits.
He criticized the Western philosophy of “living for today,” and called it a myth born from consumerism. “Tomorrow will never come to America, which lives for today. This is an abominable theory,” he said. According to Kedia, almost 40% of Americans don't even have $1,000 to respond to an emergency. This is mainly because savings aren't ingrained in their culture.
While countries like the US offer social security as a safety net, Kedia argued that relying on government is not a substitute for personal financial planning. Instead, he advocated for building wealth through consistent investment. He provided a simple example: “If you invest Rs 50,000 per year in a mutual fund for 20 years with a CAGR of just 12%, that would be Rs 5. This is simple mathematics.”
He advised young people to reduce discretionary spending on parties, fashion and brands and redirect the money to their savings. “The first thing to do is to reduce parties, spend less on fashion and brands, and save as much money as possible,” he said.
Kedia shares a thought-inspired quote, “You can either spend a luxurious young age or a luxurious old age. Always remember this.” “If you spend 50,000 rupees today, it could mean you give up 5 rupees in future value.” https://x.com/vijaypedia1/status/1913861402722177050?
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Many Gensols still hidden in the cupboard
Previously, in another post, Kedia also placed emphasis on recent controversies, including Gensol Engineering, which has been forbidden by SEBI from accessing capital markets to divert public funds. “There are still many Jensols hidden in the cupboards, just waiting for them to fall over time,” he warned.
Kedia hoped that by the time these other companies were not explicitly mentioned, it was not too late. However, he issued 10 red flags that investors can scream before scams.
Kedia said it would be wise to be vigilant about the next business. 1) Overpromotion at large and overpromotion 2) Maintain constant media presence – through news coverage, overactive social media posts, and endless interviews 3) expand even the smallest development 4) raise frequently without clarifying the deployment. 5) Diversify into unrelated businesses just to get on trending stories 6) Using too much flashy buzzwords to sound innovative without real material. 7) A luxurious luxury promoter lifestyle that does not match the performance of the company 8) pledge high-level promoters 9) face key personnel (CFOs, auditors, CXOs) and 10) engage in excessive related party transactions.
(Disclaimer: recommendations, suggestions, opinions and opinions given by experts are unique. These do not represent views of the economic era.)