We work hard to earn money and always want to save more and earn more. Many of us lose money due to a bad investments or wrong decisions. But this is something we are forever scared of and hallucinate of investments going wrong. We are scared to take decisions as we are worried that the outcome will make us lose all our money, so we let the money lie idle in the savings account.
WHAT CAN ONE DO??
The FIRE(Financial Independence Retire Early) is a way of life where you reduce your expenses and increase your investments.
Instead of having irrational fear and nurturing them, it is better to take small steps towards managing money. We should take steps to increase our financial and investment knowledge.
Start off with zero or low-risk investments and then graduate to more risky investments. Our investments should increase our risk-taking ability from an emotional to financial perspective from time to time. People who achieve FIRE are not the ones who earn great returns but are aggressive in saving and deploying that money in meaningful investments.
WHERE TO BEGIN?
* Start with Top Nifty 50 stocks – e.g. Reliance, Tata Motors etc.
* Have Blue Chip Stocks in your portfolio – e.g. HDFC, ITC, TCS etc.
Remember It’s always a trade off between the Want and the Need. So be sure of what you Want in life and invest towards
that, then the Need for Money is always taken care off!!!
To a Happy Life, Mohan Narahari
Disclaimer: The views, thoughts, and opinions expressed in this article belong solely to the author, and not to be construed as an investment or trading advise. The above information is intended to be used and must be used for informational purposes only.