Don’t invest your time in Worries… Invest your time in your investments.
Most of the time is spent on awareness rather than familiarity gained by experience of a fact or situation. Is thought of investing for future keeping you worried every time? Are you worried about reaching your Financial Goal? Are you always in search of Finance information online and offline? Do you feel that you’ll need up-to-the-minute updates on current affairs in order to invest well? ….then this post might prove a Reality check for you.
In this age, information flows rapidly and easily but are you making informed choices or for that matter choices at all?
Certain factors that will help you identify if you are worrying too much about investments are:
- Too much Research:
You spend a lot of time on Research of Financial Products , Going through the fine prints of the policies, doing due diligence part and then after all this Homework , you fail to submit your Assignment/ Project. This appears to me as “Disembarking the ship in the middle of the sea and not reaching your Final destination.” The consequences of the same are very evident if you involve yourself in such acts.
- Giving lot of Finance Advise/ suggestions:
I know a lot of people online and offline who are the first ones to give their feedback / suggestions on different Financial products but when it comes to their own Finances, they are not managing the way they actually suggest people should be managed. This biasness actually screws up their Personal and Financial Life.
At a corporate workshop last month, there was a gentleman who was very keenly participating in discussion “ How one can escape from misselling, how it can create nothing but Mess in one’s Financial Life…”however, on call with him few days ago, to my surprise , he had knowingly bought a ULIP from a bank just to oblige the Banker.
- Waiting for some better opportunities:
All i can say is “ Stop Waiting for Life to Happen…Start living it Now”
The feeling of Grass is Greener on the other side is something very natural without knowing that actually Grass is greener on the other side because someone on that side must be watering/ nurturing it well. Grab your hands on what is available today…the search for better opportunity will never end.
Recently, I came across a prospect who wants to buy a term insurance for almost 4 years now, he is still waiting for better plan for him and to make things worse, he has a home loan of Rs. 70 lacs in his name and only earning member of the family.I just raised a simple question, is he aware about the consequences if something happened to him today…?
- Awareness is there but no action is happening:
Lets assume, if we talk about Retirement Planning …. the amount of investment required now to lead the same lifestyle in future is known…..You know exactly what types of products should be selected as per your time horizon i.e have more than 10 years to retirement, equity funds or if nearing retirement, Debt Funds……You know all the Pros and Cons of taking immediate decisions. But still no action happening.
I have written more about this callous attitude at LIGHTS, CAMERA AND NO ACTION!!
- Procrastination has a delay cost involved:
You know delaying Investments have a cost involved to it. The cost can not easily be quantified, but what can be quantified is the opportunities that one lose by unnecessarily putting off their decisions on the back seat. Remember…”Tomorrow is the Busiest Day” …You will run out of Things to do at one point of time. Also, the efiiciency of the task is reduced.
The Bottom line is too much worrying will do no good and only Paralyze us . With overload of knowledge, you will end up confusing yourself rather than Convincing.
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About the Author: Gurleen Kaur is a Financial Consultant and devotes her time to her company www.hareepatti.com. She has done her Bachelors in Finance and Investment Analysis(BFIA) from College of Business Studies(CBS, Delhi) and MBA from IMT, Ghaziabad. She will be a Certified Financial Planner soon. She can be Contacted at gurleen@hareepatti.greatestdesignever.com