Hindi Financial Education's video: Rich Dad Guide to Investing Lesson 13

There were three reasons why he recommended finding a different plan for becoming rich: 1 . First, he would say, “People who work hard and save money have a hard time getting rich because they pay more than their fair share of taxes. The government taxes these people when they earn, when they save, when they spend, and when they die. If you want to be rich, you will need greater financial sophistication than merely working hard and saving money.” Rich dad explained further by saying, “If you want $1,000 in savings, plan on the government taking its share out in taxes. So it might take $1,300 or more in earnings just to save $1,000. Then that $1,000 is immediately being eaten away by inflation, so each year your $1,000 is worth less. The meager sum of interest you are paid is also eaten by inflation as well as taxes. So let’s say your bank pays you 5 percent interest, inflation runs at 4 percent and taxes take 30 percent of the interest. Your net result is a loss of money.” That is why rich dad thought that working hard and saving money was a hard way to try to get rich. 2 . The second reason he recommended a different plan to become rich is because people who work hard and save often think investing is risky. People who think things are risky often also avoid learning something new. 3 . The third reason was because people who believe in hard work and saving, and believe that investing is risky rarely ever see the other side of the coin. This chapter covers some of the reasons why investing does not have to be risky. 💰 Start Your Investment Journey with India’s Best Stock Brokers Open Demat Accounts 💰 Zerodha - https://zerodha.com/open-account?c=ZMPOUE =============== 💰 Upstox Demat Account Online (Free) - http://upstox.com/open-account/?f=M6M8 ============== 💰 5Paisa Demat Account https://www.5paisapartners.com/partners-elite?rcode=NTU1MjM2Mzk ============== 💰 Sotxkart https://www.stoxkart.com/cpc/open-demat-account.php?Lang=eng&ref=BDSTX0511 (No Profit No Brokerage) LET’S GET SOCIAL: 💻 My website & blog: https://sharemarkethindi.com/ 📸 Instagram: https://instagram.com/hindifinancial/ 📌 Facebook: https:// https://www.facebook.com/hindifinancialeducation 🐦 Twitter: https://twitter.com/hfe_official ✉ Telegram : http://t.me/hindifinancialeducation 🤗 SUBSCRIBE FOR NEW VIDEOS EVERY WEEK: https://www.youtube.com/channel/UCsUNye3mMDmKjY7IlaqeukA SUBSCRIBE ⬅️ 🛍Shop on Amazon – Check What I Bought for my Projects https://www.amazon.in/shop/hindifinancialeducation List of Books recommended: My All-time favorite Books 📚 📚 बेबीलोन का सबसे अमीर आदमी - https://amzn.to/2OKwEE5 📚रिच डैड पुअर डैड - https://amzn.to/2NOGk3S 📚 थिंक एंड ग्रो रिच (सोचे और अमीर बने )- https://amzn.to/2xJcOCC 📚रिच डैड गाइड टू इन्वेस्टिंग - https://amzn.to/2xH5Q0Y 📚रिच डैड कैश फ्लो कवाड्रेंट - https://amzn.to/2R4dryB 📚 द सीक्रेट ऑफ़ मिलियनर माइंड - https://amzn.to/2Y9xHWH --------------- GET IN TOUCH: Join Telegram Group For downloadable Content and Updates, feel free to email me at - Email: ask.smhindi@gmail.com WHO I AM: I'm Deepak Kumar, I love to share what I learn through my journey of learning "Finance" I am commerce graduate and very passionate about investing, personal finance,passive income, and financial freedom, About the Channel : Hindi Financial Education (sharemarkethindi.com) is a YouTube Channel, where you will find personal finance videos, Money Lesson, Investing and Financial Book Summary in Hindi, which helps you to manage your money, plan your finance in best way to get financial freedom, PS: Some of the links in this description are affiliate links - if used I will get a small commission at no cost to you. It's just one more way to support me and my channel. Thank you!