Apart from common solutions like SIP, Equity, Pension funds etc. the four most basic unknown (not appreciated) approach of career growth.
- Professional Networking : This has been well documented that 74% of new vacancies arr filled via referrals. Hence networking is tad important in any one’s career. Make it a rule to network with at least one person every week. may be via LinkedIn or via some reference or what ever. Facebook builds ego while LinkedIn builds careers.I have 265 FB friends but 2400 LinkedIn connections.
- Learning new skills :Investment in oneself is best investment. Make it a point to invest money to learn or acquire new skills.
- Learn one new word per day.
- Write one answer on Quora (Self introspection gets better and self esteem improves).
- Read one book per week on self improvement and self help (Reported by many great leaders across the world).
- Lear new language or learn to code or what ever you don’t know.
- Automated savings : Best savings are done on pay day as well as best spending!. If you have a recurring deposit (Most underrated financial tool), your money will go out of view before it reaches you and hence you are saved from spending unnecessary evils!. We buy in impulse.
- Avoiding loans : I wrote one more answer to emphasize loss due to loans and life time slavery. i am yet to see any one getting rich by investing money in real state by taking home loan and repaying it back!
Knowledge is free but wisdom is acquired.