If you are beginner in investing (I am not using trading very differently) it is important to AVOID mistakes.

Only a good investor needs to know how to make great investing moves and proper asset allocation. As a beginner you can leave balls outside the off stump. However once you have class you need to hook over 3rd man, do a brilliant cover drive, etc…you can even start pulling balls outside the off stump to the leg side!

Exactly true while you invest also.

Initially get yourself a Term Insurance. Your parents, wife, children need basic protection.

Get yourself Medical Insurance: an illness can hurt you physically and cripple you financially.

One savings bank account, one credit card, one debit card. Once you have these,…..START SAYING NO. no. NO. no…………

Get into the act of learning. Ask questions.

Why this investment?

what will it do for me?

which goal of mine will it meet?

why are YOU pushing so hard?

start reading about mutual funds. It is a good choice – but remember it has its limitations. It has costs.

See what it will do for you. See how it will impact your life. Your life goals…..

Then this Festive season promise yourself that when you see stupid gold coin offer, investment schemes that you do not understand, mlm schemes, Amway type sales schemes, chit funds,…..you will REMEMBER what I told you earlier.

SAY: no. no.no. NO……………NO NO NO……..

SIMPLE….get rich.

 

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