Tail of mistakes are the ones length of mistakes done by individual from the education to retirement with this mistakes we continue to delay our Financial freedom.
Tail of mistakes :
- Engineering or Medical courses will lead to Financial Nirvana whereas Passion leads to reach that place.
- Always feel you are immortal. this attitude will have positive impact on you but one need to have safety net for rainy days,retirement & for your dependents.
- Insurance Agent advises different Policies likely endowment, money back or ULIP will create wealth and its only Jeevan Anandam for family. Mixing Investment & Insurance not healthy sign.
- Low Insurance coverage in Term Insurance
- Medical Insurance coverage is responsibility of Employer and procrastinating to have one for family.(What if you are victim of Recession no job = no coverage from Employer).
- Real Estate investment is only safe and secured investment-- Borrow and Invest makes you rich but have you ever thought who's going to be rich in this process ??
- Stock Market is very Risky
- Parking all funds in Savings account.
- Initial success in Stock market feeling 56" Chest and Venturing into Derivatives(Futures & Options) without proper research or risk management.
- Getting or Seeking for Tips for Investment.
- Falling into false comfort zone.
- Planning never works so is Words become flesh.. don't feed negatives to your mind..you reap what you sow.. you sow Planning doesn't work it will not work for you.
- My Job is safe & Secure so no need for upgrading on personal finance.
- Government is responsible for my retirement corpus, but many don't understand why government is pushing for NPS(National Pension Scheme)
- High Salary,Big House & Flashy cars are mark of Success or symbol of Plush Status.
Life will give what you seek for, PLAN,DO,CHECK,ACTION and monitor if its working then repeat the process until reach your goal. remove negative, feed positive, read good books, this will help you in minimizing the mistakes.
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