I have lost a lot of money in my life:
Here are specific reasons why.
[A thread...]
Here are specific reasons why.
[A thread...]
(1) I did not learn about equity investing:
- As a result, I kept on investing in Mutual Funds via Mutual Fund agents.
- Every time, I invested: I lost commissions not just to Mutual Fund managers but also to Mutual Fund agents, who sold me these products.
- As a result, I kept on investing in Mutual Funds via Mutual Fund agents.
- Every time, I invested: I lost commissions not just to Mutual Fund managers but also to Mutual Fund agents, who sold me these products.
How to avoid: while individual equity investing is tough, anyone could invest in passive mutual funds (eg. any #NIFTY50 Index).
(2) I purchased Term Insurance quite late in my life:
- As a result, I now have to pay higher premiums.
- I delayed my decision to purchase insurance because I was extremely lazy about this topic.
- As a result, I now have to pay higher premiums.
- I delayed my decision to purchase insurance because I was extremely lazy about this topic.
Don't be lazy like me: my friend Pawan Kumar Rai runs Ditto Insurance.
If you are confused about buying insurance speak with his team (for free and get expert help). They don't spam call you.
Link: bit.ly/3F0xrvR
If you are confused about buying insurance speak with his team (for free and get expert help). They don't spam call you.
Link: bit.ly/3F0xrvR
(3) Excessive trading:
- Once I felt confident about picking stocks, I overdid it.
- Every now and then, I would buy and sell stocks; and I lost a lot in terms of paying commissions.
- Once I felt confident about picking stocks, I overdid it.
- Every now and then, I would buy and sell stocks; and I lost a lot in terms of paying commissions.
Overtime, I realised that you should buy good stocks at the right price and hold them.
This is the most sensible way of making money.
This is the most sensible way of making money.
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