Now let’s start. You can see behind me, here we are on a website. The name of this website is wid. world. Here we have opened the income comparator. So here we have the world inequality database. Now if you put any information on this website, then it is important, I tell you. Here they do not store any of your personal information.
Some people think that I did not tell you in income tax, my ITR is very low, but my income is more. So let me tell you, they do not store any of your personal information as per their website. Now there are two things here. Here you can clearly see, where are you in the income and wealth distribution? And it will compare you at the worldwide level.
There is one income and there is another wealth. So you can check your income according to monthly and yearly, where you stand. Plus, there may be many people who have properties, different types of assets, you may have stocks, you may have mutual funds holdings. So all of that also counts in your wealth. So if we take an example, there is a person whose income we are talking about, first of all you have to select a country. Now you select a country here, we have selected India.
Now it will ask you that in which currency do you earn money? So here you can select the currency. For example, you are earning in Indian currency. Many people may have international money, income comes to us in USD, when we make videos on YouTube, then YouTube income comes according to USD. Then it is converted and comes to our INR. So you can choose in that way also.
Now it is asking you how much money you earn per month or per year. For example, you say that I earn30,000 rupees per month. So now I will stop here and I will not enter because I have to ask you a question. The question is that what do you think so far, if a person is earning 30,000 rupees per month, then at what level will he be worldwide? How many percentage of people will be below that person who is earning 30,000 rupees per month?
Now guess, if you have guessed, you can write in the comment that if a person is earning 30,000 rupees, then how many percentages will be above people? Now we will enter here. Now it asks you an important question that how many people are dependent on this income? This income is asking how many adults are in your household because how many people are dependent on that income is very important. You don’t think that my father earns separately and I am earning separately, so I am managing my own expenses with my own income.
Here 72% of the population of the world is poorer than you. If you are earning 30,000 rupees per month, I am repeating, then you are richer than the 72% population of the world. If change it a little here, now you can have a goal. Everyone has a goal that I want to come in the top 1% of the world. So for that, we have already checked here, I will change it.
So you will click on single. If you don’t think so, we are two, husband and wife, then you can take these two adults, then your income will be divided and distributed. But if you don’t think that I want to see my own, you will simply enter. Now what do you see here? If you are earning 30,000 rupees per month, then you are coming in the top 28% of the world.
So you will need an income of about 4 lakh rupees per month.1, 2, 3, 4, 5. So if you have an income of 4 lakh rupees per month, then you will come directly in the top 1% of the world. 99% of the people will be poorer than you.
You will be richer than 99%of the people. If you start earning 4 lakh rupees per month, if your incomes this, then it is very important here, we are just going total about it. But yes, this is 4 lakh rupees, you can change it. You think that there is an uncle in my neighborhood, he earns 2 lakhs rupees’ month, where does he stand?
So again, he is richer than the 96% population. If you think that I have a distant brother, he works in MNC, he has a salary of 3 lakh rupees per month, then he comes in the top 2% of the world if someone has a salary of 3 lakh rupees per month.
You can use this tool yourself, so I will not be able to write everyone’s income here. But yes, if you think that more people are dependent on this income, let’s say 2 people are dependent, then this income will be divided, it will be 1.5 lakh rupees per month, then you will be richer than 94% of the world. Now someone says no, I earn very little. I earn only and only15,000 rupees per month. For example, it can be more for someone, it can be less for someone, but someone says that I am fresher, I have a job and I earn 15,000 rupees per month. Now I stand somewhere or not.
If you earn 15,000 rupees per month, then you are still richer than the 34% population of the world. If you are earning 15,000, but keep in mind that people in India must be earning 15,000, 20,000, 50,000, but in that income, many adults are dependent. So there the income is distributed. So who is responsible for all their expenses there? The same person who is earning. That’s why he is asking you first that how many adults are dependent on your income, how many adults are in your household.
Now what was our second comparator? It was according to wealth, if we check. Now how much wealth should we have to come in the top 1% of the world? So I will give you the answer straight away. Here you write wealth that our wealth is 2 crores. For example, you have a house, you have some other land, you have some fields, you have stocks, you have mutual funds, you have gold. So whatever wealth you have, you can calculate it. For example, I am taking someone’s 2 crores, 1,2,3,4,5,6,7 and if you enter and I say that now only you are the owner of this wealth.
So if 2 crores are your wealth, then you come in the top 1% of the world. But you will say that 2 crores are not there, our house is of only 50 lakhs and many people are dependent omit, then you will be able to check. If you say that it is of 50 lakhs, 1,2,3,4,5, now if it is of50 lakhs and you are the only owner and if we are not taking everything else in the household, then according to 50 lakhs, you are still above the 91% population of the world. You say no, we are husband and wife and both have property.
So you are still above the 81% population of the world. Now you have understood wealth wise and income wise that you can check yourself where you stand. Here comes the second question. A man is starting to earn money today, he is earning money today. How will he create wealth of 1 crore, 50 lakhs, 2 crores? See, it takes time to create wealth, wealth creation does not happen overnight. It is not that there is a difference between becoming rich and becoming rich.
You went to KBC of 5 crores and you won 5 crores from KBC. Nowadays people are watching from betting apps that you are earning money. Some people are making a team of Dream 11, if you say that one day his luck was good, he won the money, then with the winning money he can call himself rich, but maybe not rich. Because wealth will build up over time.
How do you grow that money, how do you build it? Because most people do what they earn. There is an example Sushil Kumar, he won 5 crores in KBC, but what happened after that? All that money was spent; it came from where he started.
Because managing money is also an art. It is also very important to invest that money in the right place. Earning money is one thing and managing money is a completely different thing. You must have heard of many people that they have earned a lot of money once in their life, but today they have nothing. Why not? Because they could not handle the money. If you are earning money today, whether it is 10,000, 20,000, 50,000 or1 lakh, you should save at least 10% of your income.
And not just save, saving means keeping it in the safe. You should invest that money to grow. If you read a book, The Richest Man in the Babylon, there is a secret to becoming rich in it. Whatever you are earning, invest at least 10%. The money you invest, if you invest it on work, the money will grow. Now many people do SIPs to increase money.
A very good formula is discussed in SIP, 15-15-15. Now I will tell you the formula of 15-15-15. And this is a formula to become rich. So you will like to understand that if a person starts investing 15,000 rupees every month, you can do it according to your own. It is not necessary that someone should invest only 15,000.
Someone has more capacity, he can invest 30,000 instead of 15,000, he can invest 1 lakh. And if someone thinks that I want to start with 1000, 1500, 2000or I want to start with 500 rupees, there is no problem. The problem is that the person who is not starting, who is not getting used to investing, money comes and people spend it.
This should not happen. So what does the formula of 15-15-15 say? If a person invests 15,000 rupees every month for 15 years, he will get a return of about 15%. Now you will say that you do not get a return of 15% in the bank. So for example, look at our Nifty 50. If you take out the average of the past few years, then you will see that it has given a return of about 15%. So if a person invests only in index funds, what are index funds? Mutual funds. How can you invest in mutual funds? You can do it through SIP.
For that you will need a free Demit account. You can open a free Demit account on Samco. Now when you start here you get the feature of smart SIP and you can also take step-up SIP here. But you can SIP, you will see that go and consider Saco where you can start your SIP. Now look to 15-15-15 formula, then in 15 years, according to 15% return, here, if you go according if you were investing 15000, then your expected amount will become 1 crore.
Now what did say about 1 crore, it did not happen in a day, it takes time to become rich. So if this 1 crore was made in 15 years; you have to wait for 15 years. Okay, let’s ask you one more question here. If instead of 15 years, this is the same, for example, 15% returns are coming, you were investing 15000, but instead of 15 years, you stop, you say that I do not need money now, let the money be invested, then we will use it later, if you feel so. And you let it be, you are busy with work.
So I say, how much money will be made in 20 years, here₹ 1 crore was made in 15 years, so what do you think, how much will it be in 20 years, you say that it is only 5 years, what difference will it make, but I tell you, it will be more than double, it has become 2.3 crore, if you let the money be compounded for 20 years. This compounding is Albert Einstein said, it is the 8th wonder of the world, because what do you think will happen in the next 5 years, in the next5 years, you will feel that it may be 2.3 crore, then you are wrong, my brother, because it will be 4.9crore, again more than double in the next 5 years.
So here, the4.9 crores that you are seeing, this is about 5 crores, which is made from a compounding of 15000 per month, but it has taken time, so the more time you give, the bigger the amount will be made. You can use it yourself, you can check this SIP calculator on the internet.
So what I would like to tell you, the first thing is that you are not poor, you felt that because if you are living in your house today, if you have a decent income, then see how many percent you are above people in the world already. The second thing is to start investing to grow your wealth, the sooner you start, the better, because if you are 17, 18, 19,20, 21, 22 years old,
then this is the right time because you are starting earlier than all the other people, because I was not happy at this time, I did not know that there is so much power in investing and compounding. First you earn money, then you think that money has been added, where should you invest, then you start thinking and understanding about all these things.
No problem, you are not late and you are not poor, you are still rich and you will become ultra-wealthy, this is my belief, you will definitely come in the top 1% of people and it is possible that many people are already there, so your goal may be to come in the 0.01% population and it is possible that many people will be in the 0.01% population because it is not a big deal.
There are very rich people in India, I meet such people regularly who are doing great in their lives and you get to learn lot from them and the same life lessons that I am learning from other people, I am learning from my personal life, so we try to convey those valuable lessons to you through our blogs.