• Hanamant Kullur

💎21 PEARLS OF FINANCIAL WISDOM💧

*1) Bonds are for storing wealth and equities are for the creation of wealth.*


*2) In my opinion, the biggest asset one can have is zero debt*


*3) The greatest discipline in personal finance is living below your means.*


*4) As Ben Carlson says, emotions cannot be backtested. That’s why the past bear market always looks like opportunities and future ones scary*


*5) Early financial independence and early retirement are completely different. To me, the former is a blessing and the latter is a curse.*


*6) Don’t think how it would have been if you’ve started 10 years ago. Start today and visualise how you would feel 10 years from now*


*7) The neighbourhood we live determines our lifestyle & spending. Need to be careful in choosing one which matches our goals and personality.*


*8) Paying minimum balance regularly on a credit card is the maximum sign that you’re getting into debt trap.*


*9) Many are long term investors till next bear market*


*10) Don’t take aggressive bets. Take a measured risk. Remember one blunder can push you back by a decade or more in terms of wealth*


*11) Big money can be made through high savings, wise investing and lots of patience*


*12) Trying to get rich fast is a foolproof way to lose what we have.*


*13) Losing opportunities is far better than losing money. Don’t invest in fads.*


*14) Making as much money as quickly as possible is not an investment strategy. Unfortunately for most of us that is the strategy.*


*15) Aggressive strategy cannot be a substitute for high savings. Save high and take moderate risk than saving less and taking a high risk.*


*16) The day we realise not losing is as important as winning; we would stop blindly chasing returns.*


*17) Good periods are more than bad periods. By not timing, though we go through bad periods, do not miss even a single good period*


*18) We’ll stop looking for quick money the moment we consider stocks as businesses and realise that our wealth grows in line with business growth.*


*19) There are periods of high returns, low returns, no returns and negative returns. We need to go through all these to get long term returns.*


*20) Listening to market forecasts is not only useless but can be very harmful too; if you start acting on them.*


*21) The hard truth is only around 3% of our population are in a position to aspire for financial independence. Don’t waste this rare privilege*