FOR 10 YEARS, I took a below-market salary. Instead, I opted for equity in my start-up. Intentionally, I paid myself last. Gambled on equity, but ignored savings. Convinced Flow-market salary. Instead, it would give me much higher returns. When things didn't turn out as expected, I was cash-strapped. When I needed money the most, I found myself with the least.
Saving isn't sexy
We should save. We get it. Yet, we don't. Because saving isn't sexy. Or fun. The future seems so far off.
"Retirement? I haven't even started earning properly yet! And we're not making enough money... And we'll miss out on life ..." Our friends are putting up reels of sundowners in Goa. Why should we save?
So, we postpone. We'll start tomorrow. Next year. Just not today.
But We should save.
Because. Life. Is. Crazy.
Almost like a Bollywood movie. One moment, we're happily dancing around a tree. Next moment, we're hit with medical emergencies, job losses, an unexpected death in the family.
Also ...
Because. We. Have. Dreams.
That house, that car, that fancy vacation. Plus our retirement. Our money today has to pay for our desires tomorrow.
Savings give you the power to walk away from a job you hate. The power to handle a medical emergency without depleting your reserves. The power to move into your own place. The power to live life on your terms. You don't have to give up what you love.
How do I start saving?
Unless you know why you're saving, you don't know how much to save.
This story is from the March 2024 edition of Reader's Digest India.
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This story is from the March 2024 edition of Reader's Digest India.
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