Yesterday during an Uber ride, I asked the driver how are things?
It's an old habit which I picked up while working for Uber
He said things are good and after all the expenses he gets to save Rs 10K every
month on an average.
When I asked him about what he does with the savings,
He said, it's usually in his locker and a small amount in the bank account.
This reminded me of the mistake I personally made.
I don't understand, why we were taught about saving as kids but never about
investing and compounding.
I explained him about inflation and told him that he is losing almost 2% of
total savings every year by saving.
And then I explained him the power of compounding and told him that he could
make 4L extra in a RD in 10 years if he invests 10K per month for next 10 years.
Trust me, he couldn't believe it.
He was like how is it possible when interest is less than 6%
that's compounding
He asked me if I could guide.
I setup two RD's of 5K each on his SBI account in 5 mins before I reached my
hotel.
When I reached hotel, he hesitated to take money for the ride.
Now, the reason for the post.
Please spread the awareness of basics of investment.
While a educated individual like me tool 27 years to understand the power of
investing.
Imagine about others?



Originally posted by Vaibhav Sisinty on Facebook
link: facebook.com/groups/608111902665009/user/1743837818/