An investor invests to earn larger returns. Boosting his/her returns is the target here. That’s good. But what if they commit certain common mistakes people make while investing?
You should avoid making the following investing mistakes. India’s First Free Online Financial Advisory, Moneymindz
1. Herd mentality
This isn’t completely the investors fault because psychologically when a person doesn’t know something he/she automatically assumes that the crowd knows better so he/she should follow the crowd. If a number of people are going for a particular product, it doesn’t mean to say you also should go for it. First be calm, sit and analyze if that product is worth your time and investment. Most of the time, the product would be totally unrelated to your goals, investment horizon, risk appetite, etc. But people still follow the crowd and invest in wrong places only to lose money later on.
They say “Patience is a virtue”. The seed doesn’t grow into a tree the instant it is planted. Rome wasn’t built in a day. You didn’t learn to walk in a single day all of a sudden. Things take time, you ought to be patient. Yet, in today’s fast paced world, people have forgotten how to be patient. They run behind “Get rich quick” schemes, want their investments to mature quicker than possible, sign off all documents in a hurry without even bothering to read it completely, etc. India’s First Free On call Financial Advisory, Moneymindz
3. No limit to anticipations
Mahatma Gandhiji is known to have said “The Earth has enough for mans need, but not for mans greed”. Greed has never had limits, be it in the ancient times or in the modern days. The greedy people have always suffered in the end, yet people fail to learn lessons from it. People want more of everything, more gadgets, more luxury, more cars, more houses, more money, etc. They daydream of various possibilities of fulfilling their greed.
4. No clarity
Many investors just follow the herd and blindly listen to others. They themselves have no clarity over what they want. As a result, they easily get cheated many times. But then, what’s the use crying over split milk? Moneymindz, Financial Advisory near Me
5. Lack of diversification
Since they aren’t aware of things themselves, most investors don’t know what diversification is, why it is important and how to diversify their investments, etc. Smart Financial Advisor, Kuber Mindz.
These are some mistakes people commit. In order to know how to avoid making mistakes like these and many more, visit www.moneymindz.com or give a missed call to 022-62116588