A lot of bad advice’s are everywhere, especially in the form of commercials and media. Even when it comes to finance and investing, there are many bad advice’s out there. These myths get circulated like rumors and catch you unaware. Since you yourself may not know all the facts or because everyone around you believes it, you too start believing it. Get Personalized Advice On Investment From Kuber Mindz or Give A Miss Call On 022 6211 6588
All such myths are perilous and can easily rob you of your money. Hence you ought to be careful. Before we present to you some common myths of finances and investing, let’s make something crystal clear! The change begins from you. Best Interactive Financial Advisor
Ask questions. Have the curiosity and creativity of a toddler. Ask many questions when you don’t understand something. If you don’t understand something despite asking questions or if the myth or the reply sounds unsatisfactory, don’t take that myth!
It is like a gift you give someone. If he doesn’t accept the gift, the gift is yours. If you don’t accept something the other person gives you, the information stays with him and not you. Remember, if something sounds too good to be true, it probably is! Insurance Online Financial Planner Advisory
Ask questions like:-
1. Is this company a good place for me to invest in?
2. What is the risk associated with the investment I am going to make?
3. How ethical and experienced is the management? (Hint- The Company’s annual report gives you the clue)
4. Do investors make money if they invest here? If so, how much?
5. What’s the performance of the company compared to its competitors?
6. Will this match my investment goals?
7. Am I thinking using my own rational judgment or have I blindly believed what others have fed me?
These are just SOME of the questions you ought to ask. You ought to ask questions as long as you don’t get a satisfactory reply. Now, let’s move on to the myths about finances and investing? Smart Financial Advisor
1. It is going to be different now
Nobody can accurately predict the markets. If you think they can, kindly check the “predictions” made 10 years back and see how many of them have come true.
2. Be greedy for more
Mahatma Gandhiji once said “The Earth has enough to provide for mans need, but not for mans greed”. Greed was and is never good. Even in investing.
3. Fan your ego
For instance, claiming that you won’t sell unless you get your “lost” capital back. The money is gone, the mistake is made, and you had belter move on. Learn from the past mistakes.
4. Only a genius can invest
Geniuses can invest, and so can a layman; provided the investor knows all the rules and plays properly.
5. Age factors
You can neither be too young to invest nor too old to invest. Where you choose to invest based on your age makes the difference.
6. I trust Mr. X
The other day, Mr. X was arrested on charges of cheating hundreds of investors like you! Many such people advice you only for their commissions.
7. High risk, high return; always
Nope. Investing in GOOD stocks and investing in BAD stocks also makes the difference. So go for good stocks.
These are some common myths that are roaming around. Beware of them and consult the right people. For more information visit www.moneymindz.com or give a missed call to 022-62116588