Here's why you should Love Money

It is 2022. And currently, the money making opportunity in India is huge.

Foreign investors are investing heavily in India.

In the last 20 years, NIFTY CAGR was roughly 12.5% 

India is growing at a massive rate.

With all these positive changes coming in, one can easily grow their wealth at 15% CAGR.

Right now, the median age in India is 28 years. If we assume a life expectancy of 70 years, most people have a career of 40 years ahead of them.

In these 40 years, you can either choose to be rich or choose to be poor.

First, let’s do some basic maths, shall we?

If by 30, you’re able to save 1 lakh, by the time you are 35, at 15% CAGR, your 1 lakh will become 2 lakhs.

By 40, it will shoot to 4 lakh rupees. And by the time you reach 70, it will sky rocket to 256 lakhs!

“But, I don’t bother about making money. It does not interest me. I feel it is a taboo topic.”

What you need to understand here is that you become rich or poor in relative terms, not absolute terms.

Back in the 1960s India did not have a lot of crorepatis. But now, we do have a decent number of millionaires, and this number is only going to rise in the future.

This does not imply that you too must strive to become a multi billionaire, but you should learn about investing, and speak openly about money.

If you don’t do so, everyone else will be making money except you, and you will become poorer in relative terms.

Let us explore some points, to understand why money making is crucial and how to ease yourself into falling in love with it.

1) Get comfortable with the concept of money-making.

It is not uncommon that you hop onto LinkedIn and find several “next gen start-ups” looking to hire interns.

When the intern asks how much they’ll be paid, the company just shrugs it off.

Do not hesitate to ask to be paid when working for someone else.

A lot of YouTubers also play the trumpet saying that they don’t run promotional ads or do sponsorships.

They believe that by not making money out of promos, sponsorships or brand endorsements they are being saintly. 

But the point is, they do make money out of YouTube in some way or another. They definitely are not working for free.

To speak of matters on the other end of the spectrum, even consumers should stop expecting things for free from someone.

Would you as an employee want to work for free for your boss, labelling it as ‘passion’?

No, you wouldn’t.

Both, as a consumer and as an employee you should not be expecting or accepting things for free.

Let us understand why exactly is the free economy bad.

This can be answered in one simple sentence.

In order to generate free stuff, you have to create wealth first.


2) Think of it from a Capitalism and Communist model.

In capitalism, by the free market principle, businesses are generating value and becoming richer, without government intervention.

On the other hand, 

Communism = common ownership of goods.

The government decides whom to give what as per their needs.

Why do you think Communism fell in the USSR?

In order to even run a Communist model, you need to generate wealth first.

And to generate that wealth, people need some incentive to learn skills and work harder.

So far, only the Capitalism system has been able to generate this sort of incentive.

Capitalism is not perfect, but compared to other economic structures, it has worked best until now.

Let us take a more tangible example of why Communism does not work.

It is called the Tragedy of the Commons.

There is a very old, broken bench in the park. Every single day it goes unnoticed. Will you go out of your way to repair it?

You obviously will not because there is no direct incentive for you to do so.

Unless the Government collects money from the people and gets it fixed, the broken bench will, well, remain broken.

3) Understand the concept of Capitalism better.

A lot of people believe capitalism = aggregation of capital.

This definition associates capitalism with a lot of negativity.

Students hardly speak about money making in school or college.

If a youngster has a parallel source of income, people envy it or think of it as hoarding money.

Here is a better way to look at it. 

In order to make more money, you need to be super skilled.

And even after being super-skilled, you constantly have to mould yourself to changing times to continue making money.

Hence, capitalism is actually not an aggregation of money, but rather an aggregation of your skills, hard work, efforts and other factors. 

Money is just an outcome.

If we are more respectful towards people’s hard work, effort and pressure to make money, probably our conversations around money making will be healthier.

To summarise:

Good Capitalism = Making money by genuinely working hard and adding value to other people’s lives.

Bad Capitalism = Tricking people in order to make money/making money in unfair ways.



4) Money making is not evil.

Quite often when we see someone else make a lot of money, it incites envy in us.

This in turn might clout our judgement and will only hurt us more than anyone else.

We might miss upon crucial observations like-

What kind of business strategies is that person implementing to make money? 

How are they so efficient? 

What time saving strategies or productivity tricks do they implement?

It is important that we simply learn from other people. Learn to extract value from them.

By criticising them, or hating them, we won’t be doing any good to ourselves. They will continue minting money, oblivious to our opinions.

We are put on this earth not to criticise other people but to build a life for ourselves which is full and healthy 🙂

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