Do you have any investment?

We always hear that it is best if we let our money work for us. The first thing that comes to our mind is investment. People are talking about investment more often now compared to 10 years ago. People are also losing more money in their investments since there are more investors as compared to 10 years ago.

So, what went wrong?

The only reason people are losing more money than what they ‘supposed’ to lose is because of lack of knowledge. I have seen people who invest thousands of dollars and do not know much about the investment. They do not know what kind of risk they are exposed to.

I have a friend who invest in anything that he thinks can give high returns. When I asked him whether he is a risk taker, he told me confidently that he is a risk taker. However, when I asked him whether he is a loss taker, he told me that no one likes to loss. In short, he is a risk taker but not a loss taker.

In reality, a person who is a risk taker must be prepared to lose money in any investment that he made. On top of that, one must be well aware of the risks that are exposed in their investment.

I would suggest that you only invest when you really know what the risks behind the particular investment are. You need to spend some time evaluating the investment that is presented to you. If you do not have the knowledge competency in the investment, I would suggest you to seek for professional help. It does not hurt to spend a bit of money in hiring a professional to assist you in your investment. At the end of the day, it is your hard earned money.

Although the mindset of the people now is better, some things just do not change. There are more and more people who have millionaire mindset but do not have a millionaire attitude. To be a millionaire, you not only have to have a millionaire mindset, you also need to adopt their attitude. One attitude of a millionaire is due diligence.