How do you ensure you invest successfully? As a Do-it-yourself, DIY investor you need to make good investing decisions and act on it. But how do you make such decisions? What is required to do so? Many things. But what is necessary and sufficient to do so consistently is the right question to ask and has an altogether a different answer.
Before you read the synopsis of what’s coming, I want you to know that everything I have written is rooted in my personal experience and feedback from our customers. I know it works because it worked for me. And more importantly, we made it work for many customers. It is my personal journey from sucking at investing to investing successfully and helping people make the same journey. And you will see all this not just in the book but also on our site moneyworks4me.com which you would need to use to really know How the Heck to Invest.
But you know that I sucked at investing for very long. Why did I or anyone suck at investing and for long. It’s not that you keep investing continuously and failing for many years, which would make you and me very stupid and incapable of learning from our mistakes. It’s because we invest in fits and starts, mostly fits. Something would trigger me and I would tell myself I have to start investing in equity and I would start. I would read up something, buy some magazines, watch the news channel, read a book. Sooner rather than later my investments would not work out, I would lose money and give up saying this is not for me, it’s all rigged or it’s not logical and not invest for years, till I got triggered again. Has this happened to you?
But in 2007-08 before the Global Financial Crisis, I realized and gracefully acknowledge to myself that I sucked at investing because I did not take responsibility for my investing. How did this realization dawn on me? I had ‘outsourced’ my investing to a well-known MNC Bank and bought the now infamous ULIP paying ridiculously high fees and that too upfront. I had also bought some mutual funds and all Regular...........Read More