As they say, the way a person does one thing is the way they do Everything. So if you cut corners while working; however insignificant they may be, it’s probably leading to a mediocre life and you are nowhere near what you envision yourself to be.
Beginning with streamlining your finances could be a good start to getting your life shipshape. Let’s begin with deciding on the type of investor you are and we can suggest the kind of actions that need to be taken basis your risk taking ability.
There are normally three types of investors
- Dormant investor
- Crowd follower
- Active investor
Dormant investor is one with minimal awareness of the various possibilities and if not for the HR dept they probably would never have set up their own PF account. Money keeps languishing in their bank accounts leading to difficulties in beating inflation and they have a high chance of suffering poverty after retirement.
Crowd follower is one who goes with the current flow – they may make money, if they are lucky. This also leads to cases of them losing the money in the long run if they are not careful and don’t educate themselves.
Active investors take initiative to learn how the financial system works and make money regardless of how the market is faring or reduce losses during the bear market. They create a specific plan and stick to it – sticking to buying during a downturn is one of the wisest things one can do.
The difficult task is finalizing a course of action to undertake and ensuring automatic deduction, only reviewing your decisions at the end of each year. If we are able to make correct buying choices, you will be able to enjoy a much more enjoyable life without worrying about finances.
In the end, the biggest investment on our own selves is the best investment that we can make. Make an informed decision.
Allow us to create a portfolio for you based on your personality traits – please share your email id and we will send you a template to decide on future course of action. We don’t charge for services – our ambition is to enable all readers to earn higher rewards going forward.