Why you MUST have a razor sharp focus on Building Wealth now?

• For most people, their job is not going to be with them forever. Even if it does, chances are that their current specialties/expertise will commoditize soon. Consider below points - 

1. The rate of "skills becoming obsolete" is much faster today than it used to be a few decades back.
2. The tech industry which at one point enjoyed double-digit yearly salary hikes, has now come down to single-digit hikes and large companies like Infosys are being forced to even change their business model. 
3. Tech industry is just an example. Every industry matures over time resulting in lower salary hikes, so one must use the peak of his career wisely for wealth building.  

• Leaving your money unattended will only lead to its erosion.

1. It's a well-known fact that saving accounts/fixed deposits are poor tools for hedging against inflation, let alone building wealth. Over time, your unattended money gets eroded. 
2. Even if you spend well within your means, a nice car, dream vacation will continue to hijack your extra funds unless they are routed in certain productive long-term assets. Some luxuries are necessary but it's wise to consider the "opportunity cost" before falling for them. 

• Your expenses are only going to grow. 

1. Marriage, children, their education, better lifestyle, old age... all of them will call for higher expenses. If you are still earning, your best time to start investing is now.  

• You have to balance between immediate gratification and long-term wealth. 

1. A car bought today at Rs 10,00,000 will be worthless after 10 years whereas an investment of same amount today will be worth Rs 31,00,000 at a nominal return of 12% per annum (Nifty has a CAGR of 11.7% in last 20 years). Overseeing the opportunity cost of a new liability (like car, house, travel) should not be taken lightly. 
2. Cutting voluntary expenses are easier early on e.g. a bachelor has the option to use shared accommodation, use a two wheeler for a commute.   

• India is in a sweet spot now, but we should not take the current situation for granted. 

1. India, being a developing country is expected to have a much higher inflation than developed economies at least for next few decades, putting further pressure on your earnings.  
2. The existing benefits related to low commodity prices, low oil prices which have been keeping the inflation and household expenses low are due to external factors and may change anytime. 
3. At times of low growth, growing your money becomes even more difficult.

• Lastly, being financially free is not that difficult and feels great!

1. Compounding is a great tool to build wealth over the long run. It's available to everyone but many people don't use it due to lack of financial education or pure laziness.  
2. Once you are financially free, you don't have to work for supporting your household. You can still work though, and it will be fun!