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7 Money Lessons from the Pandemic

Description

2020 is not a year one is easily going to forget.

Those who are old enough know there was a life before mobile phones, and a life before the internet. It feels miraculous that we lived and survived then and did not feel the pinch.

We are living through a transition phase now. At the least, we will talk about LIFE DURING CORONA.

I sincerely hope the masks disappear, but social distancing might get ingrained in the culture to some extent.

I wish the financially difficult times become a thing of the past, but the lessons we learnt will remain.   The 2008 crisis happened, but affected largely the stock market. The root cause of the 2008 slump lay in a faraway land called United States of America.

2020 is too close for comfort, too real and too entangled in our day-to-day existence.

Maybe, you are one of the few lucky ones who continues to receive a regular income, or enjoy enhanced business income by jumping on to the right opportunities.

You do have something to teach others on how to identify the right opportunities.

You do have something to teach others on how to identify value stocks or real estate deals at a good price.

What has fundamentally changed is the level of wisdom. We will all be wiser by many years, by the time we reach our next birthday crossing a span of one year. It is the kind of wisdom which keeps evolving in retrospect, and we will be a transformed generation.

Till then, let us make an attempt to recapitulate what we learnt so far.

Topics for this ebook

8 Lessons

MONEY LESSONS THAT 2020 TAUGHT US?

2020 is not a year one is easily going to forget. Those who are old enough know there was a life before mobile phones, and a life before the internet. It feels miraculous that we lived and survived then and did not feel the pinch. We are living through a transition phase now. At the least, we will talk about LIFE DURING CORONA. I sincerely hope the masks disappear, but social distancing might get ingrained in the culture to some extent. I wish the financially difficult times become a thing of the past, but the lessons we learnt will remain. The 2008 crisis happened, but affected largely the stock market. The root cause of the 2008 slump lay in a faraway land called United States of America. 2020 is too close for comfort, too real and too entangled in our day-to-day existence. Maybe, you are one of the few lucky ones who continues to receive a regular income, or enjoy enhanced business income by jumping on to the right opportunities at the right time. You do have something to teach others on how to identify the right opportunities. You do have something to teach others on how to identify value stocks or real estate deals at a good price. What has fundamentally changed is the level of wisdom. We will all be wiser by many years, by the time we reach our next birthday crossing a span of one year. It is the kind of wisdom which keeps evolving in retrospect, and we will be a transformed generation. Till then, let us make an attempt to recapitulate what we learnt so far.
EMERGENCY FUND SUPERSEDES ALL OTHER GOALS
ONE CAN SURVIVE WITH LESS MONEY
IT IS A NETWORKED ECONOMY
ONE SHOULD HAVE MORE THAN ONE SOURCE OF INCOME
SKILL DEVELOPMENT IS FOR EVERYBODY
YOU CAN BECOME UNEXPECTEDLY RICH
FINANCIAL GOALS ARE NOT WRITTEN IN STONE
SUMMING UP

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