Investing Mistakes that people have told me…..
I wonder whether I am writing a lot about mistakes…but that is the way to let people know what they should not be doing. Rather a way of learning from other people’s mistakes…
- I wish I had started saving earlier
- I wish I had started investing the saved amount earlier
- taken medical insurance when I had no health complications
- had not bought a Timeshare
- had not fallen for free stuff from ……and bought a timeshare
- had not taken a credit card when I was in COLLEGE
- had taken life insurance for my parents when they were younger
- HAD NOT PAID for my children’s EXPENSIVE foreign education
- had NOT got married to a financially incompatiable person
- taken so many Life insurance ENDOWMENT policies
- taken such EXPENSIVE retirement plans
- bought such a big AND EXPENSIVE house
- invested in direct equities WITHOUT developing the skills for investing
- i had tracked my expenses at an earlier age
- had studied better at school and college
- had taken some good career guidance
- had traveled ABROAD for work
- had made more efforts to earn more and INVESTED that amount
- had chosen a smarter and better adviser
- had invested in a passive fund !
- Not bought a house so soon in life
- Had bought a house so soon in life
- borrowed after doing more research about the offers from a couple of lenders
can we hear your regrets?
Ganesh
I am a big fan of you sir, but a few points on career guidance is relevant today due to the knowledge available, but may not true 20 years or so back. I would term these as learning experiences from my side.
– Had read Subra Sir’s articles and books earlier
– Had not looked for 30-40% gains in equities and learnt to stay the journey longer
One addition to the list (though I avoided committing this):
– Had switched to direct MF from regular one
NARESH SHARMA
Hilarious but again in few of those, We opted for those! Even Self-Centered has few takers….
Madhur
1. I wish I Had read books on wealth creation and blogs like yours much earlier.
2. I wish I had realized the importance of life and health insurance earlier.
3. I wish I had realized the importance of investing earlier.
C Singh
I wish I had not gone for an LIC endowment plan just because a term insurance will not give anything back if I continued to live.
I wish I had not signed up for those IPO papers just because someone known to me suggested them.
I wish I had not lent large amounts to dear friends just because I was convinced they had an urgent need.
I wish I had taken a health insurance for a relative who will be dependent on me for health needs.
This one I can never regret because I won’t be there when it becomes relevant:
I wish I had updated all nominations and written my will on time!
subra
received on wassup
– not having an emergency fund
– not having adequate medical insurance
– living beyond my means
– ignored inflation
– bought something I do not even use
– did not follow a budget
– lending money to friends
– giving spare flat to a friend on rent who is not now vacating!
Ankur
-Father bought 7 LIC policies and 3 ULIP’s for me when I was minor(paid lakhs for premium over a decade).
-Never opened PPF account(LIC and ULIP’s premium would had been saved in PPF).
-Invested in 2 NFO’s without reading the scheme document, not even going through the basic information(now money is locked for 5 years).
-Investing first then thinking about the goal or investing without goal.
Amit
This is again masterpiece from Subra. All such financial Gyan should be put out in every corner of schools. So that when young grads come outta there, they have such wisdom right from the start of their financial journey/career.