Funny Queries That Will Destroy Your Wealth

Today we are living in digital world. There are a lot of discussions going on digital platforms, social media daily regarding investments. Discussing financial information is o.k, but what about your individual risk-appetite? and your investment objective?

Do note that no two ideal investor’s mindset is same, it may vary according to their life stages, earning capacity, future goals etc. But when you say ask a straight question-

  • I have earned some decent profits, shall i book profit now?
  • I have lost some capital in “X” share, shall i come-out of it?
  • Currently my investments are o.k, but to gain more shall i average it now?

These are the common questions asked by investors on social media and digital media. Even though experts try to answer your queries, do you think it always works in favor of you? Absolutely No! Because in that few minutes of query session they can’t estimate your risk-appetite especially your investment objective(For what purpose did you invest that money?)

Mostly experts give “Formal” answers either to book profits or loss according to their expertise. Even though they are deemed to be “experts” there is no guarantee that their advice works-out, just it’s a “casual answer”. Then what to do?

You may notice a standard disclaimer that “Advice given by the experts are of their own on their personal discretion. Investors should do proper research before taking a final call to invest. Media house or the experts are not responsible for any loss arised thereof”. This is a standard disclaimer displayed in all the query lessons, but investors neglects this disclaimer and blindly follow the experts advice thereby destroying their wealth through this acts.

To avoid this situation, investors must keep 3 things in mind-

  • Listen to experts advice, but don’t follow them blindly
  • It’s your own hard-earned money. You are the only person to decide when to book profit or when to come-out of that stock according to your risk appetite.
  • Before making an investment decision review your objective, prioritise your goals, lifestage and decide on your own either to continue your investments or book loss and come-out of that stock

So Finally “You” are the only person to take decision on your investments. Because you only knows your investment objective and goals; no one can predict exactly your individual risk profile with in a few sessions; so take time and decide on your own!

Published by bankinfor

I am a financial expert interested to create awareness on personal finance, insurance and investment products and it's pros and cons to a common man. My intention is to make public aware on savings and investments which should be a part of everyone's financial life. By browsing this site you can learn various investment products and it's risks(people mistaken this concept)associated with them

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