Important events that happened, some facts and more.
- 3 years since economic liberalisation happened in India
- 1 USD = INR 32 (approx)
- Google, Facebook, Whatsapp didn’t exist
- Infosys was 13 years old, and 1 year since its IPO
- Late P. V. Narasimha Rao was our PM
- I was 2 years old. Duh? Damn important to me, ok!
And many more…
So, if you can time travel to 1994, what would you tell your younger self?
I would definitely:
- tell myself that sit quietly on a chair and eat your food, your mother gets tired running after you.
- tell my dad, sell all the gold, break all FD and invest in equity.
For a minute lets consider that there is no concept of money in this world, and the goods and services are valued with time. The more time you have, the richer you are. So would you ever waste it?
Although we are paid with currency but practically companies buy our time with money. And for all you should know that your time is much more valuable than what your company is paying you. The difference is their profit.
As you grow in your career, the value of your time increases.
As Warren Buffet once rightly said:
“I m paid by the hour”
We all know that at most what we can have is 24 productive working hours a day. And that limits our earning potential. But smart people bypass the limitation by investing in others’ time. Essentially they invest in businesses where you pay a price to buy someone’s time. And as the person works, you make the profit.
The main challenge is the price you pay to buy that person’s time should be lesser than the real value of his/her time. Once you are successful in doing that, there is literally no limit to your earning potential.
A great proverb in investing is:
Don’t work for money, let the money work for you while you sleep.
Be wise. Manage your time and money well.