I know all of you are interested in increasing your wealth. But I can give you a guarantee that 95% of them are not gonna meet that new year resolution. Please don't mind but you can also be somewhere in the crowd of that 95 % of people who are not going to meet their new year resolution. I know you aren't feeling good now and curious to know the reason for that.

4 Tips to increase your money in 2020

Don't worry. I will help you achieve your new year resolution. But first of all, make your new year resolution that I am gonna increase my wealth this year at a higher rate than the previous year. I hope you have made that resolution. I have presumed that now. So taking you forward, I am sharing with you my personal guidance on how you are gonna meet your resolution.




    4 Tips that will help you increase your wealth


    1. Your skill can be your Panacea

    In 2019, have you gained a new skill? If it is big No. LEARN IT NOW. Every skill has its own worth. Please remember that no skill means that you are NOT upgrading yourself. It is also quite possible you would be fired from your job just because you are downgrading yourself in a turbulent environment which is changing every second. Start to learn a new skill now immediately and GET PROMOTION with SALARY HIKE.


    2. Be good in tax planning

    Every year we pay taxes to the government which we can save easily with good tax planning. For example, you have made an investment in the units of Equity Oriented Fund and assumed you don't know that you can claim its deduction from your income while paying tax. So just because of a lack of knowledge, you are paying extra taxes to the government and reducing your own wealth. I am not telling you to save tax illegally but do proper tax planning.

    3.Invest in good portfolios

    Have you kept your money idle in a savings bank account in 2019? The biggest mistake you have done if you have done so. Keeping your money in a savings bank account is NOT gonna help you increase your wealth because inflation is eating the value of your money every day. Invest it now somewhere where you can achieve a return higher than the inflation rate like equity, mutual fund, etc considering your risk appetite, goal, and your needs.

    4. Do something extraordinary

    We know that your 9 to 5 job is not gonna help you achieve your future goals. So do something different and monetize that. You can start, for example, blogging in the niche in which you are an expert. Learn new things that others are doing and making money but do something side by side to your routine job. I know you must be thinking about how it can be done with a job. But believe me, learn time management. it will make you happen that.

    What you have taken from reading?

    I hope after reading this you are determined to learn new skills. Be aware of tax planning and I know that now for 2020  you are gonna plan and save your tax. Don't forget that while making an investment, putting all eggs in one basket can be risky. and at last, do something side by side to your regular job with good time management.

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    DISCLAIMER- The information provided in this article is for general informational purposes only. All efforts have been made to provide accurate information in this document, however, it should not be perceived as professional or legal advice. The reader should consult a professional before making any decision based upon this document. Under no circumstance, the author or the publisher shall have any liability to you for any loss or damage of any kind incurred as a result of the use of this information.