Instead of hoping and praying that you will one day strike a lottery of $1 million, wouldn't it be better if you learn how to write cheques or "lottery tickets" of $1 million to yourself. If you can learn how to do it, there will be nothing to stop you from writing cheques for even bigger amounts. Many of you don't even need 20 years to do it. It's even possible for everyone to do it in 15, 10 years or even less. That's what learning to be a Smart Investor.
When people approach Financial Planners or Investment Consultants, what they are given is a Comprehensive Financial Plan or in this case the "fish", which is only valid for their present financial circumstances. When their circumstances change in the future, they will need a newer or updated "fish" or financial plan. In other words, they are helplessly reliant on other people's advice because they never learn "how to fish" for themselves. Again and again, they will have to go back to their Financial Consultants to "give" them the "fish".
When it comes to learning Personal Money Management and Investments, it is my belief that you only need to learn the basics once in your life. It's very much like learning how to ride a bicycle or learning how to swim. Learn it well once and it will last you lifetime! - Milan Doshi
Investments Are Never About The Past
A lot of people are still living in the past. They are still thinking about Missed or Lost Opportunities like
that one or two properties they could have bought a few years back when they had the chance, or the last Stock Market Bull Run which they missed. Many are still holding stocks bought several years ago at the peak and today it's worth less than 20% of their purchase price. Every now and then, they would be praying
for some miracles to happen and their stocks to recover back some of their lost value.
Investments Are Never About The Past! The past is past! It's history! As a Smart Investor, you have to take a view or an educated guess of what the future hold, and what you need to do today to take advantage of it.
Forget about what you missed in the past and stop hoping for history to repeat itself if you are stuck with anything from the past. It's Time To Move On!
What Exactly are Investments?
EXCHANGING the LEAST Amount of PRESENT DOLLARS for the MOST Amount of FUTURE DOLLARS whilst Minimizing Risks, looking at Asset Allocation, Diversification, etc.
Investments are all about Exchanging Money...Present Dollars for Future Dollars. What a Smart Investor tries to do is to exchange the LEAST amount of Present Dollars today, and squeeze out the MOST amount of Future Dollars tomorrow, while managing risks.
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