The Most Authentic Guide on Personal Finance and Investments


Words of Wisdom : "Money is not the most important thing in the world. Love is. Fortunately, I love money." ~ Jackie Mason

Best investments are a selfie not a photocopy

Since the advent of smartphones with the front-facing cameras, taking selfies has become a universal craze. So much so that 'selfie' has not only become an official dictionary word, but also a serious addition.

Unfortunately, when it comes to your investments and financial planning, this 'selfie' is sadly missing.

Firstly, most people typically have no plan at all with respect to their investments. They adopt a totally adhoc approach towards their money.

One fine morning they will come across a glitzy advertisement in their newspapers and fall for it. One fine day they will find extra money in their bank account and decide to invest it somewhere. One fine evening they will overhear some conversation about an investment opportunity and jump at it blindly.

Secondly, more often than not, their investments are a photocopy of someone else. It may be their friend or a relative or a colleague; whose investments, in turn, are again a copy of some 3rd person. And this continues...

Don't they realize how ridiculous, stupid and dangerous this me-too approach is.

Your friend may be saving money for a luxury car. You are doing it for you daughter's education. Do you think you can take the same levels of risk as your friend?

Your cousin is investing for the down-payment for his flat. You for your retirement. Do you think same investment will work well for both short-term and long-term needs?

Your colleague has no near term requirements. You, on the other hand, may need this cash for the next year's proposed foreign trip. Do you think you can lock-in your money the way your colleague can?

Your niece, having no liabilities, can afford to splurge on her credit cards. You, with added responsibility of sister's marriage, have to be extra careful with your money. 

As you will appreciate from the above, you cannot do what others are doing

Photocopy-mode will often lead to wrong choices. It would, at the best, result in sub-optimal investments and at the worst... losses.

investment-selfie-or-photocopy
Adopt SELFIE-approach to managing your investments and personal finances.

Your investment planning has to take into account "your" needs, desires and aspirations. In other words, like taking a selfie, you have to "focus" the investment-camera "on you". Only then can you expect to get a perfect picture of your investments and personal finances.

For extraordinary financial success with your investments, you have to display the same levels of self-obsession towards your money matters, as you have towards your looks and selfies.

As someone rightly said "Be yourself, there’s no one better". 

The question isn’t..."Can you?", it’s "Will you?".

You Learn A Lot By READING... And Even More By SHARING.

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Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

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