How Can I Help My Child Grow Financially?

The answer is simple- Just help your child by giving him/her Rs.5000.

Yes, you might have a lot of questions running in your mind, but before anything else, let’s see..

How a Father helped his Son with just Rs.5000 and loads of motivation, to not only be financially stable, but make a distinct identity in the World.

Disclaimer: This is a true story and we’re just a medium to pass it on to you. Do read. 🙂

Somewhere around 1985, a son, who had just completed his Chartered Accountancy, went to his Father and said something extremely unconventional and unorthodox to his Father. He said he wanted to make a career in the Stock Market and wanted to be a Stock Market Investor. This son is none other than the Big Bull of Dalal Street- Rakesh Jhunjhunwala and this is the story of him climbing the success ladder from Rs.5000 to USD 2 Billion with the help of his Father’s motivation.

Jhunjhunwala’s Father was an Income Tax Officer and was a stock market investor himself. He took keen interest in the Stock market and like every other Son, Jhunjhunwala looked up to his Father and garnered immense Interest in the Stock market. Back then, Trading and Investing in the Stock Market was a side business. But Jhunjhunwala’s Father was a liberal and hence motivated him to follow his passion. But he also said that he would not give him any financial support to start his career and that it was on him to get the funds. All he did was, give him Rs.5000, and that was it. But these Rs.5000 changed Jhunjhunwala’s life, and changed it for good, giving the World it’s 53rd Richest Man and a Star Investor- Rakesh Jhunjhunwala.

BSE was at level 150 at that time and with the help of his brother, Jhunjhunwala raised Rs.1.5 million as capital and within a span of 1 year, he earned Rs. 1 million. But he didn’t stop there. He invested this profit in 5,000 shares of Tata Power. But soon he realized that he would need capital and that is when he started Trading too. He earned a good profit in Tata Power, Sesa Goa and Telco.

Stock Market

Source: http://bit.ly/2qMXLSb

But was it just Capital and motivation that helped Rakesh Jhunjhunwala to succeed?

Well..it was much more. In a 2012 interview with Economic Times, when Nargis Fakhri(She had taken the interview) came to know that he entered the market at the early age of 25, she asked him whether he had studied the market or he just took everything as it came? His answer was surprising. He said he had been studying the Stock Market and various stocks since he was 13.

But why am I telling you this Stock Market story? Why am I urging you to give Rs.5000 to your child too?

We observe 6 things in the above story:

1. Urging children to follow their passion is the best way to see them succeed.

2. Investing and Trading in the Stock Market is one of the best ways to be financially stable.

3. One can make an amazing career out of the stock market and earn extremely well from it.

4. Only Capital is not enough, one needs to study the stock market, it’s trends and terminologies before stepping into it.

5. The Stock Market can be a source of secondary income, like Jhunjhunwala’s father, or can also be a source of main income, like Jhunjhunwala.

6. Investing in Stock Market is a risky affair, but with proper knowledge, experience and observation, one can master the art of trading and investing.

With the above observations, you can easily see how you can help your child grow financially by lending him a small amount of money and urging him to study the market just a bit.

We know that you still might have a lot of qualms about urging your child to invest and trade in the markets. In that case, simply leave a comment below and we, Intern Theory shall use all our expert sources to solve your doubts and queries.

 

Cheers!

 

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