I was recently visiting a chemical plant of a large petrochemical company in Gujarat. What I discovered there was shocking!
I delivered a presentation on money and investing to an audience of close to 100. In my interactions before the presentation, during and after, it came out clear (once again) that dealing with money doesn’t come naturally to most of us.
The surprising part is that even an engineering or technical background does not guarantee a rational approach.
In market linked investments, greed and fear still rule the roost. In real estate investments, hope and pray are still the time tested guides.
People go to seminars organised by product companies (MFs or Insurance) where they are shown rosy returns (read past performance) for mid and small cap funds and then made to sign forms.
The stock brokers are doing transactions and making money off the retail guy who has no clue if it is working for him. I asked, “Have you ever measured your performance?” The answer was “no.”
Another gentleman has taken an LIC policy for which he is paying Rs. 24,000 premium every year. He feels delighted that once the premium period is over, the policy will return to him Rs. 24,000 every year till he lives.
Those who didn’t find time from work relied on time tested principles of investing in real estate and FDs. They have not done bad. Yeah, but they now talk of how they could have done much better and probably be able to achieve their financial freedom sooner.
Mind you they are all smart people doing well in their careers. But when it comes to money…
So, why does that happen?
For one, we were never prepared to handle money.
Now, today if you want to self learn, there is no dearth of content around the internet. There is tons of content freely available that you can access any time, learn from and even apply.
The best place to find it all is via Google. I mean, who needs anything apart from Google. I must say I am wrong!
Because if that was true, millions of individual investors would not have got themselves into the mess they are in today.
You tell me frankly, even with all of the above free resources and content, what has changed?
A lot of the content that you read is about data and information about products. In some rare cases, you get highly motivated, inspired, but then what next?
As for motivation, someone said, “Getting motivation is like having a bath. You need it every day.”
Well, all the above sources are doing a great job, I am sure. However, it is all scattered. Sometimes the medium is the limitation.
But what is absolutely missing is the ACTION. Without follow through action and deliberate practice, nothing is going to help.
Now, I realised this a while back and that’s where I decided to pitch in. I started a blog on Unovest and then a free email series – Investing 101. They are again just about content.
I then took a step further and started my premium online program, Money Master.
Money Master is all about action. With Money Master, you go beyond content to not just understand but also put it into practice and make the right investing decisions for yourself.
If you have been reading me from before, investing is about the next 50 years plus. Not just today or tomorrow, this year or next year – the next 50 years.
It is a long journey and your actions have to be aligned to do this journey without losing peace of mind, enjoying yourself thoroughly and yet reaching your destination.
You and your mind have to be ready to absorb, evaluate and decide anything new that comes up. In some cases, it needs a deep rewiring.
Ultimately, what you do with your money has to help you achieve your goals.
If you have been looking forward to rewire your brain, think rationally about your money and make important investing decisions, then here is the good news.
I have opened Money Master doors so that you can be a part of it.
It is open for subscription for the next few days and if you are an early bird, you can get some worm too.
Do you know a 1% less portfolio return can delay your financial freedom by 5 years?
You have a choice to make. Continue with the old ways and transform the way you behave as an investor.