Not how many kids listen to their parents. Well, this is not a new problem – 4000 years ago Socrates had this problem too.
I am talking about investing / making education or career choices, making marriage choices…kids blame their parents for everything!
I am not sure if you should ask or listen to you parents in areas that they do not know. When you have a toothache you go to a dentist, right?
If your mother/father said ‘sit down in a chair, I will attend to your toothache – NOT sure how many of YOU will listen to your parent, right?
We do not always listen to our parents when it comes to choosing our life partners. Or what career choices we should make…
However, we are willing to listen to our ‘Papa’ when it comes to investment advice – even though he was a Mining Engineer in Khudremukh?
I know of a SON IN LAW who ‘delegated’ his Equity portfolio handling to his father in law. So far good.
After a few years I saw the portfolio – it had almost all the blue chips -but about 100 shares each. So it had about 20-25 shares for a portfolio of Rs. 300,000.
I asked him on what basis did he buy the shares. He said simple, when a company declared a dividend of say 40%, he would call up the broker and buy that share…BECAUSE HE THOUGHT HE WAS GETTING 40% OF THE AMOUNT INVESTED as a dividend.
The son in law was a top banker.
If you earn your money with a great effort, at least make your money work a little harder!!
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