Let me first hope your Holi, Eid, Good Friday, Easter and Norouz were filled with smiles and happiness. I feel all our human emotions are the same and irrespective of what our religion is, we all are one. Let us celebrate this life to the fullest!
Several of you have sent me e-mail sharing a lot of personal details regarding your financial goals as well as your personal life. It is really nice to hear from all of you, even though sometimes I might take slightly longer to reply. I have been trying to reply to as many e-mails as humanly possible while juggling other things. I think soon I should add the title “E-mail Author” to my name! But jokes apart, please do continue sharing your ideas and thoughts with me. It lets me know what fellow Happionaires really want; most of us all want pretty much the same things in life.
Several of you have given me a lot of feedback on what you would like to see here and what all can be done to help Happionaire investors more. I shall be looking at all those suggestions and ideas and inshallah implementing them soon.
A few of our fellow Happionaires are presently heavily in debt and facing challenging times. You could be one of them or might know somebody like that. Being in debt can be something very difficult especially if the loan you took was invested in the markets.
A few stocks that have fallen over 60% have multiplied the pain for people who borrowed money to invest. A few of you have asked me if you should take additional loans and invest with me or take my advice.
Please remember that taking a loan to invest in stocks is very risky irrespective of whose advice you take. I am a regular human being and prone to mistakes just like anybody else- or maybe even more than others. Borrowing more money and taking my help to invest is not at all a good idea. Even though I try my best to understand a business as well as possible, I have and will continue making mistakes. Of course as long as I am more right than wrong, I am good.
The thing about investing, business or even life is that you don’t necessarily have to be 100% right always. Some of the best investors in history have done very well for themselves with an average success rate of 70%.
If you are in debt, I would suggest you try to look for alternative sources of income where you don’t have to invest additional funds. It could be a new side-business, a new job which pays you more or a second job along with your present job. Try cutting down on your expenditure- you don’t have to eat out, go for movies, shop for new clothes or take the car to work. If a major part of your income is going towards the payment of your house EMI, try moving out of this place to a smaller house in a cheaper area and living on rent for sometime. Or alternatively if you have the opportunity to live with your family, please do so. Several people usually have a large part of their income going towards their house EMIs, which isn’t really the best thing to do especially if you are heavily in debt.
Cut down on everything you think is not necessary, but please don’t stop smiling or letting your financial situation bring you down. Instead the more you smile and spend time with your family and friends; the more confident you will feel and easier it will be to overcome your challenges.
If you are in debt now you will have to make a few sacrifices so that you can get out of it. The things you sacrifice are not at all important for you to live happily. I know people who were in debt sometime ago, and just because of changes in their lifestyle and mindset today are out of debt, and in fact doing very well for themselves. Once you are out of debt, you can invest in a disciplined manner and grow your wealth. Opportunities keep coming and based on what you do today, you will be able to make the most of future opportunities.
Look at this as a great opportunity to take control of your finances and your life. Do not let anybody else control your life or finances and instead be brave and face whatever has been thrown at you with courage.
Whenever you feel sad, depressed and feel everything is over- just think about the millions of other people who don’t even have basic sanitation, food and clothing. People, who can’t read and write and don’t have basic necessities. You truly are lucky and blessed, that you are skilled and can read and write. A very large majority of our fellow human beings are not as lucky as us. Try thinking about all that you have and you will feel much better and feel very privileged. Inshallah we will be able to create more opportunities for everybody together. I believe that the best way to solve problems is to convert them into challenges and make sure we are able to establish a system which makes sure money is generated. The only solution I see for solving issues like poverty is entrepreneurship, education and empowering people with skills and knowledge.
As all of us Happionaires create wealth, I would want our ideas, knowledge and wealth to spread and be shared with everybody. I am not talking about charity and hand outs, but rather making sure we can create opportunities that everybody can make the most of. I feel the best way to eliminate poverty is not charity, but making sure skills are developed and utilized. Let us all have a vision and make that a reality through entrepreneurship and skills.
Don’t lose hope and work towards getting out of your financial problems, slowly things will improve. Don’t try looking for short cuts to quick wealth and ‘magical’ stocks which will multiply your wealth overnight. Stay positive and I assure you that things will improve. Everything does work out for the best!
Happy wealth creation and I hope all of you have a smile on your face right now!
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