Hi there. I hope you are doing well, and I am Lucky Ali again back with useful information for you. So, do you know? Even a small mistake can be a reason for a big loss in investing; that is why it is very important to understand that you are investing your hard-earned money. Investment is the option that can make your future, but if you want to save yourself from huge losses, let's understand those mistakes so that you can get a clear idea about investment.
1. Investing without doing research
If you invest based on other people's statements or rumours, you will be in for a disaster. Do you want to save yourself from disaster? then the only thing that can save you is authentic and true information, and it can be about anything based on your investment, for example, stocks, crypto, or real estate.
2. Expecting profits soon
Long-term investment is the best, and if you do not have patience in this field, then this is not for you. For example, if you have invested in Bitcoin or any stronger crypto project, then you have to wait for years for the result, and you can't expect a life-changing return within days or months.
3. Not diversifying (investing all your money in one place)
"Don't put all your eggs in one basket."
This is a very famous line and applies to investments as well. You have to invest in different places, such as cryptocurrency, gold, mutual funds, FDs, stocks, and real estate.
4. Not creating an emergency fund
Do you know? You must have at least 6 to 12 months of expenses in advance before investment otherwise, it can be the worst situation in an emergency. That is why keeping an emergency fund aside is highly recommended.
5. Making decisions based on emotions
There are three enemies in investment: greed, fear, and excitement, and it is not right to invest out of these things. You must have knowledge and experience, and this way, investing is always gonna be profitable when you invest based on experience and data.
6. Ignoring tax planning
There are many things by using them you can save taxes and saving tax is most important factors for the investors otherwise at the end of the day you would have less profit. So maintain it perfectly.
So, these are the six most important mistakes that almost all new investors are making, and sometimes, even old investors make these mistakes and get results like losing huge funds in investment. You are earning money by your hard work, so why waste in losses? Play smartly and earn more to become rich soon. So, share this post on social media using relevant tags and leave a comment below. I will meet you in my next blog. Thank you.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and having new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring. Thank you, hive family ♥ |