10 Wealth Building Strategies in fast changing world – a practical approach

10 Wealth Building Strategies in fast changing world – a practical approach

10 Wealth Building Strategies in fast changing world – a practical approach

When I asked this question to myself few years back, I was not having a convincing answer. But today, I know what needs to be done and I am on the way to build wealth. How to build wealth in changing environment? Today we would discuss about wealth building strategies in fast changing world.

What is building wealth all about?

Building wealth is buying assets which would appreciate over a period of time. Some of the assets would even give you recurring income month on month like rent from independent houses or flat. Wealth include, buying real estate properties, investments in FD, investments in stocks and mutual funds, investments in gold, investments in bonds etc.

10 wealth building strategies in fasting changing world – a practical approach

  1. Investing today: Do not think about starting an investment after a year or two. Take a decision and start investing today. The early you start investing, the faster you create wealth and build assets.
  2. Invest in assets which grow: When you start investing, you should invest in assets which grow over a period of time. If you invest in real estate, the value grows over a period of time. If you buy a car, thought it is asset, the value diminishes over a period of time. It is essential to know where to invest money.
  3. Invest in best investment options: One of reader last week left a comment stating he is investing in “Insurance plans”. Insurance plans are not for investments and it is essential requirement. You should look insurance as a security and not for investment. Invest in best investment options to grow your money. There are wide varieties of best investment options like FD, mutual funds, Gold etc.
  4. Diversify your investments: Do not put all your money in one basket. Do diversification and invest in wide variety of investment options. While your risk would get diversified, there is good opportunity for you to maximize the returns.
  5. Re-invest your returns: When you invest money, do not take the returns and use it for your general purpose. If you make re-investment plans, your money grows faster. When I say reinvestment plans, what I am saying is re-invest all your returns. E.g. in FD, you have an option to withdraw your interest or reinvest the same. If you choose second option, it would be useful for you to get higher returns at maturity.
  6. Invest for long term: This is one of the top wealth building strategies. If you invest for long term, there are greater possibilities of your money growing faster. E.g. in real estate, if you invest for 10 to 15 years, your investment would be doubled or tripled.
  7. Do revaluation of your investment portfolio: When you started investing in variety of assets, you should not stick to the decision which you have taken few years back. Some investment options might be outdated and you might be getting lesser returns. Do not regret if you need to come out of such situations.
  8. Invest regularly: When you start investing, invest regularly. When you invest regularly, all upside or downside of the markets would be taken care and you can grow your assets faster. E.g. when you invest in mutual funds, invest through best SIP where all stock market ups or downs are taken care.
  9. Invest what you know: Invest in investment options where you know. Do not invest in options where you do not know anything. Do not invest in options because your friend or neighbor is investing. 
  10. Take professional advice: Some of us do not know all investment options and neither interested to know them. In such case, taking help from professional financial advisor would be preferred. If you invest with half knowledge, there is possibility that you would fail.

Conclusion: Building wealth is creating assets which should grow over a period of time and they also provide regular returns to us. In the dynamic changing world, one cannot depend on salary or business income, hence building such wealth would help in managing our finances better.

Readers, I invite your valuable suggestions and feedback about these tips.

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Wealth Building Strategies in fast changing world – a practical approach


  • Rohan


    My age is 35 and I am earning Rs. 20000 through business. I want to purchase any property. Is it possible.

    • Rohan, if you are filing IT returns every year and paying income tax (if any), these proofs are sufficient to get home loan. You can look for good property in your area by taking bank loan.

  • ullas

    Thanks for informations given in this article.Realy this is a helping tool for beginers like me.Sir please help me to start investing for a better financial life.Iam 25 years old and earning an annual income about 13 lakhs.untill now I have made only two options ,one is bank fixed deposits of 10% interest and have taken a policy under LIC, it is -new bhima gold policy,investing about 25,000 per year for 16 years.Sir i would like to start investing in mutual funds or any options like that. i can afford long term plans,and also high and medium risks.Sir could you please suggest me about how much i need to invest in mutual funds per year and which are the plans good for me?.Also suggest for any other investment options suitable for me to start investing now for a better future.
    Many thanks in advance for your help on this.

    • Hi Ullas, Good to hear that you are planning in early age. You should invest in various options like Mutual funds, bank FD and post office saving saving schemes. In MF’s, you can look for HDFC Top 200 or ICICI Pru blue chip fund or FT India blue chip fund etc., Since you are high risk taker, invest 10% of your portfolio in Reliance Pharma fund or SBI FMCG fund. These are high risk high return investments. You can invest in PPF and ELSS mutual funds in case you are looking for tax saving schemes.

  • Janesh

    Dear Suresh.

    Many thanks for all your blogs.Its really very good for beginners like me. I would request you to advice on below.

    I am 29 yrs old married and hopefully expecting a baby by this year end. My goal is to buy a flat costing 40 – 50L in a year.So i want to save as much money i can. I am drawing salary of Rs 60000 . So far i have not saved anything. Below are my monthly expenses,

    Rent – 19000 (planning to shift the flat)

    ULIP – 6000( invested without having much knowledge)

    monthly exp – 15 – 20K 

     I would like to invest Rs 20000 every month to achieve my goal. I would request you advise on below,

    1. My monthly spending (whether i am managing correctly or should i plan differently?)

    2. Where to invest 20k per month inorder to buy a flat after a year?

    Appreciate your help on this regard. Thanks in advance 



    • Janesh, I personally feel that every should save more than 50% at your current salary level. Looks your expenses are at 65%+. You can reduce them over a period of time. Regd your monthly savings, since it si only one year, don’t take risk, just invest in RD or debt mutual funds. 

  • munish singh


    Really lot of information i get in this portal about saving and investing. As a salaried person my age is 36 married and a kid. By doing all efforts of saving at this age i accumulate Rs. 17 Lakhs you have a vast experince in this . Is my saving at right level in this age. Kindly guide or tell me how can we know that this saving is at right level in the coming future.

    Thanks .


    • Munish, It would be difficult to tell whether your investment amount which you accumulated is correct, more or less. Do one thing, list down all your financial goals + their value (like daughter education in 10 years, Rs 10 lakhs etc.,). Now you put all your monthly savings upto your retirement age. See whether you are able to achieve your financial goals with your savings. What is left out. This is the amount which you need to use for retirment. Means it would be useful for 60 years to 80 years of your living where there is no income. Now touch your heart and say whether  the balance left out is sufficient ? You would know whether what you saved is right? You would also know what to save and in future upto retirement. 

      • munish singh

        gr88 sir,

        its a right direction you give me. Easy to understand what should i have to do.




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