What every one needs to know going forward is that the key to a secure financial future is diversity. All successful investors like warren Buffet and others dont just invest in one thing like we do. In Pakistan everyone invests all their money in plots. This is quiet stupid from a financial viewpoint. If you have money divide it into 4-5 portions, and buy a plot with one, invest in gold, invest in foreign currencies, invest in national savings accounts, invest in some business that generates income,invest some in stocks and keep some cash for emergencies. Also invest some money in yourself as well like improving your skills, qualifications, learning a new trade or technology, travel, buy books and read them, join a gym to improve your health. Invest in your family, rather than spending all your money on a plot and depriving yourself and your family opportunities to grow, enjoy and learn. You ll find that this strategy will make your more secure in the long run, rather than taking a big hit when things go down, which they always do. If you are diversified then a loss in one investment will be made up by profits in others.
Ch A replied on Saturday, June 15, 2019 07:42 AM
Fully agree with above impressions |
Zameen replied on Saturday, June 15, 2019 02:11 PM
Great words ... thanks for the reminder |
