Regarding the Financial Planning, there are many myths in the minds of the common investor public. I’m trying to discuss some of these here. This is the Fourth Article in this series.
Myth no. 4:-
My friend/uncle/neighbour/broker…… know some tricks/tips/shortcuts & on acting these I can mint a lot of money.
NO. There are no shortcuts for a good financial life. Slow & steady wins the race. The initial burst may create an illusion that you are doing good but at the end of the journey you ‘ll realize that you were not doing good at all. One more old known story here.
The Rabbit & the Tortoise:-
At the start of the story, the Rabbit was clearly in lead but the Tortoise, kept working hard & what was the end result? We all know it. Same is with your financial life. The person working on such tips/shortcuts may get ahead but in the long run, only the TORTOISE ‘ll win. So what’s the lesson here for you. Start small & simple but keep doing it without fail. the fruit of your hard work ‘ll come to you.