The biggest financial mistake is assuming that we know everything about money. Money is a very complicated thing and we should keep on learning more about it.
You need to understand the basics of money and investing and you should be a continuous learner for this. You should have strong willpower and intent to learn about money.
Let me tell you a simple thing, it has got nothing to do with your formal education or your profession. I will explain this with an example in the video.
Learn the basics of
Learn to accept that you can’t pick individual stock so either you learn how to do it and till the time you are doing it, you will invest through mutual funds.
Learn to use the services of good financial advisors.
Learn where are you can go wrong. Learn how people lost their money in individual and public scams.
Learn about risk.
Question get quick rich schemes
Learn how to set financial goals.
Learn different means to achieve different types of financial goals.
Learn how debt can destroy your life.
You can learn these things from our free fin91 Community.
The biggest financial mistake is we stop learning or we don’t learn at all about money. Don’t do it!