Suniel Shetty an actor and an entrepreneur recently shared valuable financial advice for the youth on LinkedIn. In a post, he reflected on his own relationship with money and the lessons he learned from his upbringing.
Coming from a family with a modest standard of living, Shetty emphasized the importance of saving and planning for the future. Despite his father’s improved financial situation, their lifestyle remained unchanged, as his parents prioritized providing the best education and experiences for their children, growing their business, and supporting the community.
When Shetty entered the entertainment industry and began earning a substantial income, he maintained a frugal mindset and looked at money decisions from a long-term perspective. He acknowledged occasional temptations to indulge in a flashy lifestyle but credited his middle-class values for keeping him grounded.
His wife, Mana, shared a similar mindset, and together, they practiced disciplined spending and made wise investments. While they allowed themselves some luxuries, their primary investments were in their homes and their children’s education.
Shetty highlighted the importance of prioritizing long-term stability over short-lived extravagance. He emphasized the significance of diversifying investments across different asset classes while staying within one’s boundaries and not pursuing unfamiliar opportunities.
Addressing the younger generation, particularly those in the early stages of their careers, Shetty advised approaching money with purpose and responsibility. He stressed the need to educate oneself about financial matters, including the power of compounding, taxes, and investment strategies. He encouraged youngsters to seek advice from trusted professionals and make wise financial decisions that align with long-term goals.
Consistency was emphasized as a key principle, urging individuals to focus on building a strong and sustainable investment strategy rather than chasing quick gains. Additionally, Shetty emphasized the importance of giving back to the community and expressing gratitude to those who have supported one’s journey.
Shetty’s financial advice serves as a reminder to approach money with humility, awareness of its potential impact, and a marathon-like mindset. By understanding financial concepts, making informed investments, and contributing to the greater good, individuals can achieve financial success while creating a positive impact on society.
