4 Ultimate Mistakes of People Who Won’t Start Investing (But Actually Like and Need To)

Apart from planning and talking about investments, and not doing it, here are some of those things that lifelong wanna-be investors always talk about. Yes, they always wanted to invest but never did and still haven't. These are their excuses.

1.       Cannot afford the amount to start the investment – You don’t need to invest the amount that you don’t have. You need to review your financial flow first. Read, study or have a financial advisor to help you. His role is to help you manage your finances, prioritize your spending and guide you on the investments which will suit your need. It’s always your needs first, current status and your target before discussing the investment for you. If you do not find him doing this, chances are he’s just after the commissions. But don’t worry; there are only a few who are like this. And it won’t be that difficult to recognize if your advisor is up to no good. The key here is to check the target investment first and how it is done before saying no.

2.       Spouse, parents, family member, etc doesn’t like it. – So… what? Each investment is created for a specific need or plan of an individual. One might not suit another person. But you are not the other person. You know your plans and your needs more than the others. Decide for yourself. Now move.

3.       Afraid of being scammed – People can’t be blamed for being skeptic regarding investments. But being affected totally by the few schemers and avoiding investment at all and just saving all your money in a savings account or just inside your piggy bank is one sure way of being a victim of money fraud which is called “inflation”. Start reading and asking the people who knows about investing. Be guided. Work out your plan. Then begin.

4.       Planning to start later when the situation gets better – How will you know if situations will get better? It could be worse. But you’re also right, it could be better. But the irony is that investments, if done right, will help make situations better. So a good situation will definitely become better with investments. What’s more with a bad one? Invest now, and your future self will thank your old self later for doing it.

So, are you guilty with some of them?

Got questions about investments? Let me know. Message me at laymaninvestment@gmail.com or at rogie_ylagan@yahoo.com 

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