Investing with Insight
You should always invest with insight. By insight, i mean long term investment planning. Most of the people can’t become financially free by investing because they invest without any insight. They invest without any financial goals.
Many of my friends have collected as many as 100 NFOs and mutual fund schemes. But when I ask them about their financial goals, they say that, Well, I have not decided my financial goals yet. Now, my question is that, if you have not decided your financial goals than why do you collect various financial products available in the market?
Well, see. There must be some kind of objective behind buying any financial product. Without the proper goal and insight you should not buy any kind of financial products. This is because you are going nowhere by doing so.
First of all sit down with paper and pencil and think that what you want to achieve financially in your life and how much money it requires? And write it down on the paper. And after that decide your investment strategy to reach that goal.
Once you decide your investment strategy, review it every few months and modify it or watch that weather you are in line with your objectives or not? Once you decide your financial strategy, than and only buy any kind of financial product which fits into your investment strategy.
Don’t simply collect all the financial products that are available in the market. Investing with Insight pays better results in the long run.