Why do people commit FINANCIAL suicide ?

Why do people commit FINANCIAL suicide ?

Would you ever drive a car if you do not know driving?

Obviously not because you could kill yourself.

However, if you were told that the outcome of the accident would be felt after 40 years.

What would you do then?

Perhaps most of us would take to driving despite lack of knowledge.

After all 40 years is a long time. Who cares what happens then.

Human nature is such that we are only concerned about our immediate future.

Unfortunately, this is the principle commonly applied by people in 'personal investing'.

Therefore it is not surprising that we continue investing in Fixed Deposits. After all the consequences of such financial misadventures has no immediate impact.

Most people investing in Fixed Deposits are earning either 'business' income or a 'salary' income that takes care of their immediate needs.

Who really cares what happens in the distant future?

People conveniently reason it out that they will cross the bridge when the time comes.

But this 'thinking' is extremely dangerous to say the least.

When people do not make the right decisions about investing during the good days of their lives when they are young and energetic, they will find no bridge to cross during their 'not so good' days when old age strikes them.

As far as investing is concerned, 'delays' certainly prove to be costly.

Also, we need to realise what appears to be a distant future isn't so distant after all for 'time' flies and how.

Therefore, it is actually dangerous to make 'personal finance' decisions without consulting an expert in Personal Finance.

Name: Devarajan S

Firm Name: Devarajan, Insurance Advisor

Mobile: 9840177017

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