KA Profile picture
May 31, 2020 12 tweets 3 min read
If u are in debt few advise which all give but still i m giving -
1) never ever ever take a loan which comes with monthly repayment schedule, like most of u take from local individual(byaj) and think u will cover from stock market.
Reason - if u r so skillful u wouldn't have been
Debt. It's overconfidence and young blood which forces u to think, market is halua u can do it.
It took me 12 years to think I m now best in trading and then March 2020 came and it shook whole world(though March has been highly profitable for me).
But point is betting at uncertain place for a certain outflow is highly risky.
2) be bold and face situation - talk to ur parents take their help, yes it will hurt them badly but if u delay it, It won't only hurt it can be deadly.
Giving u one example - someone whom I know
had a debt of 16lakh in 2013, family wise he was rich but a pride or say fear that how will family react he hide his debt, 16lakh was at 5%pm, he kept on making mistakes and always thinked now i will cover debt, went in debt cycle now debt is 4 cr.
Now which could have easily ended in 16lakh is won't end even in 4cr.
Lost whole 6 years, lost huge money, lost health, lost trust in friends family, lost relation... Everydamn thing now life is suicidal.
How 4 cr happened -iski topi uske sar, a common mistake which all of us did
3) never borrow money by giving a false hope - this is very very imp

We often think of present - Abhi le ke problem short out kar leta hoo, ur this attitude Sirf Abhi ki sochna - life is not like rocky handsome - Sirf Abhi ki sochta hoo, u r creating a grave for urself
How?
Suppose u borrowed 10 lakh from someone by Giving him false hope to solve your problem, may be temporarily u solved ur problem but u never know what kind of person he is or say what problem is going in that person life, may be he is in more sever condition than urs and
He trusted u and gave money and when he needed u failed to fulfill promise, its not only u, he will suffer badly. It's a chain none of us know who is In what condition.
I have n number of real examples but tweet will become lengthy.
4) it's always good to sell assets which is
Unproductive (like gold or say real estate) to close debt.
If u have talent u can buy them anytime, if not - ye waise bhi jana hai as compounding on ur debt is working very fast to take all from u.

There are many and many examples which I have seen experienced in my life
A successful life journey of any person is never easy, there are two types of success - overnight and slow and steady... Believe me overnight doesn't last long - it breaks law of nature, u have to go through a process sooner or later, accept it move on.
Also it's not necessary to learn always from own mistake - a wise man learn from others mistake, in MBA we are being taught case studies - why? Cause we don't have that much time to commit mistakes to learn something.
At the end - u cannot end a debt by taking another debt (especially higher rates)
Its like u cannot come out of pit by digging another pit.
#brotip

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Jun 24
☀️☀️☀️☀️☀️☀️☀️☀️☀️
This message is for all of you and very important. Please read and explain this to every member of your family and especially children:-

Fire can start anywhere. In case of fire, there may be delay in getting help to you.
Many years ago there was a fire accident in J.P. Hotel Vasant Vihar New Delhi, in which many Indians were killed but not Japanese and Americans. know why? I'll tell you :-
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Also
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we all can see it but our brain gets so biased during market hour Image
We F up

what is best way to avoid it?

I remember a video which I saw in 2014-15( which I will search and share)

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If you think resistance is at 100 come out at 100-10
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𝑺𝒉𝒊𝒗𝒂𝒋𝒊

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