Your Money Isn’t Safe! Avoid investment bankrupt
No matter how rich you may think you are, you are just a maximum of five years from bankruptcy. Evidence has shown that most of the people that make it to the top one percent of the income bracket usually don’t stay there for long. Reason, …bad investments. Even more frightening is the known fact that jackpot lottery winners usually declare bankruptcy in as little as three to five years.
No You’re Not Doomed, Not Yet.
Ask yourself some simple questions:
- what is the ratio of my income to expenditure?
- do I have a solid plan for retirement?
- how well or how bad have my past investment decisions gone?
- what do I consider most important before investing?
Life is a ticking clock, no matter how good you are at your job, still, retirement beckons. It’s about time you think good, smart investments.
While the questions asked seem quite rudimentary and elementary enough, the answer or solution is even more elementary…SOUND, WISE investments! Note the emphasis on sound, wise.
Anybody and everybody has made one form of investment at one time or the other, but there’s something that separates smart investors from bad investors and you can define the group you belong by also asking and answering to another set of seemingly easy questions.
You Need To Answer These Questions
- Do you just invest in a particular business because others are doing so? Investing in a business you know little about or have little expertise in is one of the surest ways to a bankrupt, bleak future because it’s easy for an advisor with a criminal intent to take advantage of you. You can ask Mike Tyson.
- Do you leave the business strategy to others with little to no input from you? This second question is more like the first, but different. While getting frequent briefings from “experts” about the “good developments” in the venture, if you have no time to verify and confirm things for yourself, your investments are on a highway to disappearance.
- What is your primary motivation …money? I must admit that this particular question sounds a bit silly, yes. But think again. While every business person is in it for the profit, your number one motivation should never be money.
That’s why Mark Zuckerberg decided to keep the decision making right of Facebook to himself. Because according to him, he doesn’t want board decisions that’s only motivated by profits.
While it will definitely play at the back of your head, my advice is for you to keep it there, at the back of your head.
It is the passion that will keep you going when things aren’t yet what you want them to be, driving and pushing you harder till you develop a product or service that’s quite hard to beat. Besides, I’m sure you don’t want to work for the rest of your life.
While that may not be correct in the literal sense, just remember the popular quote, “do what you love and you’ll never have to work again in your life”.
- Are you able to recognize a good product at its infancy? Most of those that made a fortune out of companies like Facebook and Google recognized their potentials quite early enough. That’s why someone made the biggest investment error in his life – declining to buy Google for one million dollars!
The founders of Google weren’t motivated by money alone. If they were, they wouldn’t have considered selling the company that became the most valuable, quoted company in the world for one million dollars at the onset. My point is, they had already developed a fantastic product that by the time it launched, the world knew it had been waiting for that product.
Never Too Late, Start Smart Investing
If you think this little info has been helpful, it’s time for you to change approach. Start smart investing to avoid investment bankrupt. And do share this piece with friends and loved ones on social media. If you really care about yourself and them because, it’s always better when we all move up together. One person left behind becomes a liability to all, dragging the others down. Still unsure, just check out this website.
- This classic text is annotated to update Graham's timeless wisdom for today's market conditions...
- The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide.
- Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has...
- Alex H Frey, Alex Frey
- Publisher: CreateSpace Independent Publishing Platform
- Edition no. 0 (07/05/2012)
- Giovanni Rigters
- Kindle Edition
Last update on 2020-03-19 / Affiliate links / Images from Amazon Product Advertising API
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