Laziness and Finance

Have you ever wondered what the root cause of your financial problems is? I guess the answer is “You” and “Your Laziness”. Most of the time it is the lack of discipline and the laziness to learn puts us in financial trouble. I have had a word with my friend and asked him why have you invested in LIC policy and the answer I was expecting was, “It made sense to me cause it had the benefits that I was looking for” and I got the answer as, “My mom asked me to invest in it and I did and also I get tax benefit out of it”.

I felt very bad after hearing it. There is some difference between the so called “Educated” and uneducated. I consider someone as educated when he can think on his own and give logical explanation for his deeds. I think most of the people whether they are educated or not, fall in the uneducated category as they can’t think on their own and blindly rely upon someone else’s words. I don’t say that you should not listen to any advices from anyone, I am saying that whenever someone advices just think over it and decide whether it really matters to you or not.

From Wikipedia, An engineer is an engineering professional with an approved degree in engineering. Engineers are concerned with developing economical and safe solutions to practical problems, by applying mathematics and scientific knowledge while considering technical constraints. The term is derived from the Latin root “ingenium,” meaning “cleverness”.

The word engineer means cleverness. Basically somewhere someone thought that engineers actually use their brain and are hard working to solve the issues of the society by developing solutions to the needs of the people. If this holds good then while making the financial decisions, I am sure they use their brain. Am I wrong?

Agreed, that it is not always possible to make well informed financial decisions. The finance world is very complex and we all need some guidance from the financial advisors. When you can afford to have a financial advisor, why at all think? But the fact remains that the financial advisor can take you for a ride. I am not telling that they do, but there is a chance. For example, say a mutual fund X is ready to give the advisor 10% of commission if he brings in new customers and another fund Y gives him 2% of commission then which do you think would the financial advisor be asking you to invest in?

Everyone does their job so that they make some money and attain their personal goals, so I don’t blame them. If at all you are on the losing side then it is you who have to be blamed and not anyone else. Be informed and make educative decisions and don’t just blindly nod the head and invest according to someone’s fancies.

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