Tax Saving

Why Hard work cannot make you rich

The world is full of hard-working people but only hard work cannot make you rich. If you look around everyone is working as hard as they can to earn a good amount of money. You can see hard-working people anywhere and everywhere. But do you ever wonder why are they not rich even working this hard?

Tax savings

People often misinterpret that hard work leads to a wealthy life. But if this true why you and everyone around you are not rich? Why you left with almost empty pockets after paying your bills every month even after working this hard?

Work smart not hard

“Hardworking people will get only what is left by Smart working people”

Work hard but smart

This is the era of smart work, where only hard work does not work. Remember working hard you can increase your salary but the more your salary increase the more you deductions from salary increase and at last situation remains the same. Working smart can increase your income, reduce your tax deductions and can make you rich. Most people spent their whole life working hard and never get rich while some get rich in a small period of time because they know how to work smartly. Be a smart worker.

Reduce dependency on one income

Balance sheet

You can never become rich if you are dependent on one income only because income comes with deductions. The harder you work for one income source the more dependent you will get on that and become part of the rat race. Start buying assets and bonds that will serve as your assets. The more assets you have the more you will earn with fewer tax deductions. Once you start earning from assets more than your income, your wealth will increase automatically by time. Invest wisely in your assets.

One skill is never enough

Multitasking

Most of the people work the whole of their life working on one or two skill. But this is not enough if you want to gain wealth. Working hard to master one skill, instead spent your time learning more skills like how money works and increase your financial intelligence, bring out your inner financial genius. Because you never know when that one skill went off from the market and then you will be left with nothing. Always work on upgrading your skillset. Remember the most important skill is marketing if you are really interested in wealth you need to be master in marketing your product or services or even yourself.

Best book to start understanding finance and rich mindset I will recommend you this book.

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

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