Whats the best financial advice you can give?
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1) Dont be greedy, and
2) learn maths around percentages and how to calculate yourself first before doing anything
3) Avoid trading and back testing: Dont get into the habit of 1% profits daily which equals to 365% and if you added compounding to it, then it much be more than 1000% return in a year lol lol SO AVOID INTRADAY WHEN YOU ARE NEW (which the brokers will hide and push you into intraday obviously)
4) becalm and stay calm DONT WAVER ON SEEING ANY NEWS this is the habit you have to get AND DIGEST YOURSELF BY PRACTICE or else you will be dead
these are the 4 points that came to me on seeing your question
Side note: I have lots to PUT ON TEXT BUT I WILL SAVE IT FOR LATER WHEN SOME ONE ASKS MORE ABOUT IT (dont wanna bore you all xD)
you can share more with us. pls share your writings if any.
Invest regularly in diversified products (index funds, gold, FD, bonds, etc).
I Always suggest, trust a person who always play even with a dime and take his account and transfer all your earnings every month and forget it.
.
Witness the financial magic
Put all your eggs in one basket
Take full leverage to do intraday
Take multiple LICs and ULIPs
+1
Make one big egg, fill the basket and later make another basket
You don’t need to diversify you pennies.
do not bother giving advice to those who would not follow through.
Money Saved = Money Earned.
( look at my DD profile on web)
Learn economics how govt. , banks , affect
How money flows in the economy , then u will see govt. Is 🍭
where to get the gist of it.
Kuch lekey nahin aaye ho ... kuch lekey nahin jaogey .
sabko pyaar karo , sansaar ka bhala karo .. aur chaley jao .
Marry a person who agrees with your financial view and spending habits. This is the biggest thing you can do to live a happy life.
This is probably my only comment on DD.
1) Discipline is the key. You should invest in bullish market, you MUST invest in bearish market.
2) More than finding 1% better returns (all the effort involved in it), save 1% from your expenses. This is the BEST advice I can give.
3) Active investing is not for most people. Most people consist of you and me. Index/Passive funds are sufficient.
4) Keep living costs low while your salary grows. It is totally OK to make BIG purchases once a while.
Sadly, such pointers won't hold the weight coming from an average person. I could introduce myself but probably not today.
Insurance is not investment. It's a risk mitigating financial instrument. Avoid going for insurance plans which promise returns or premium return, go for a pure risk policy.
Invest in yourself is what I have heard from many people.
remember, 99% quit gambling right before they win big
Just don't buy anything on credit or loans. Keep it only for life and death situations and you will live a peaceful life. In my life I have followed this simple funda from the day I started earning and it's been 20 years and I have not taken loan till date from anything. Whatever I have is all by full down payment. The peace I have enjoyed and the freedom I have experienced is surreal.
I know it may sound a bit stupid to many teenagers or young chaps in the twenties but this is something which will give u something that you can show off in social media but can really experience it all by your own and i.e. eternal peace.
Make your basics covered first before investing
Basics are
Term insurance
Health insurance
Emergency fund
Then invest .
If basics are not covered, any emergency can wipe out your investment.
For investment, the main thing that is needed is time. If sufficient time is not available for investment (due to emergency), it will not yield great results.
Don't concentrate on returns, but instead be displined in investment and try to increase invested amount.
Keep earning
1) Dont be greedy, and
2) learn maths around percentages and how to calculate yourself first before doing anything
3) Avoid trading and back testing: Dont get into the habit of 1% profits daily which equals to 365% and if you added compounding to it, then it much be more than 1000% return in a year lol lol SO AVOID INTRADAY WHEN YOU ARE NEW (which the brokers will hide and push you into intraday obviously)
4) becalm and stay calm DONT WAVER ON SEEING ANY NEWS this is the habit you have to get AND DIGEST YOURSELF BY PRACTICE or else you will be dead
these are the 4 points that came to me on seeing your question
Side note: I have lots to PUT ON TEXT BUT I WILL SAVE IT FOR LATER WHEN SOME ONE ASKS MORE ABOUT IT (dont wanna bore you all xD)
Marry a person who agrees with your financial view and spending habits. This is the biggest thing you can do to live a happy life.