Investment Tips: If you want to become rich, just follow these five formulas

Breaking News, Digital Desk- In today's time, you can buy anything with money. Money is a very important thing to keep pace with this world. Anyway, an important formula for a happy and prosperous life is to become rich. 

But, do you think that there is a formula to become rich (investment formulas)? The answer is yes. You just have to follow some simple measures, show a little discipline and you will become rich very easily (how to become rich).

Who is the enemy of wealth?

If you want to become rich, then first you should know what are those things which prevent you from becoming rich. The biggest obstacle in the path of richness is inflation. Every expense from vegetables, children's fees to treatment is continuously becoming expensive and if your income does not increase accordingly, then you will obviously remain poor (how one can become rich person).

Invest in this way

If you are an investor, you should avoid emotional investment while investing. For example, by 2022, the cryptocurrency craze was at its peak in India. Especially, the youth were crazy about it. They invested lakhs of rupees in it, but by the end of the year they were in huge loss.

This teaches you that you should invest only in those things which have been approved by the government. 

If you do not know the details of any sector, then you should avoid investing in them (investment tips in Hindi). Invest according to your financial goals and risk bearing capacity.

-Keep faith in your investments

You are well aware of the fact that during the Corona period, the share market (Indian share market) had fallen drastically. Nifty had gone below 8 thousand. 

But, the market bounced strongly from there. At present, both Sensex and Nifty are almost at their all-time high. This trend of ups and downs in the equity market is an old one.

The lesson from this is that you should not panic if the stock market falls. If the stock market falls due to any reason, it rises again. You should maintain your investment, only then you can earn huge returns and become rich.

-First of all it is important to know the importance of inflation

We have seen many people who, in the pursuit of safe investment, invest in such schemes whose returns are not able to beat the inflation rate. In such a situation, it is very important to know the importance of inflation rate before investing.

Now, you are making an FD or Fixed Deposit investment. The return on this is 6% per annum, while inflation is increasing at the rate of 7% every year, so the value of your investment decreases. This means that you are losing your principal amount.

Understand and know the importance of emergency fund 

The interference of Artificial Intelligence or AI and other technologies is increasing all over the world. This has led to increased layoffs and the possibility of recession has increased. 

You should be prepared to deal with such situations. It was also seen during the Corona epidemic that most people were not ready to face it.

For such difficult situations, you should keep an emergency fund. This will save you from compromising on long-term investments. You should keep at least a year's worth of expenses in the emergency fund.

-Investment is not the only mantra to become rich. If you are dreaming of becoming rich by just investing or saving money, you might be disappointed. 

An estimate shows that more than 5 crore people become poor every year in India and the reason for this is the sudden increase in medical expenses.

If a family member suddenly falls seriously ill, all your earnings and savings may be spent on his treatment. In such a situation, you should get life insurance and health insurance for every member of the family.