“I have some money in the bank, but not sure where and how to invest it. Since I have not made any investment before so I doubt will I be able to handle my money efficiently? Shall I follow the same what everyone does in society? Shall I ask – an advisor, a broker, a financial expert, or our very own Sharma Ji (because Sharma Ji and his son are experts in every field)?”

Questions! Questions! and Questions!

We are always in a mind-frame that we need expertise for dealing with the money we have. We believe that if we invest the money or spend it without any consultation, we might end up in a disaster. We always rely on someone for money matters because we need validations for our thought processes and approaches.

It’s natural to be concerned about your money because you know how much effort you have put to earn every single penny. In reality, it’s not the money you are worried about but the hard work that has gone behind it. You don’t want your efforts to go in vain because you know that you would have to spend a similar or even more energy and time to earn the same amount of money. I won’t talk about how you should earn money because I believe you know that better. However, the question is, do we need someone to decide for us what exactly we should do with our money.

The guidance and consultation are required, I don’t doubt that. We need reference and awareness about what is going around us but the decision should lie on one’s belief. Don’t let others influence your decision. Listen to experts or people around you who have experience in dealing with money but don’t blindly follow the same. I tell you why – You are not on the same income level as they are. You don’t have the same risk preferences. You may be more sensitive towards your money, and you may have different term goals. You may have earned each penny, and they might have inherited. You may have more family members to look after. You may belong to a different age group. Your plans are different. You may prefer a modern way of investing. and they might prefer the traditional way. 

See? You just saw how different you are from others around you? Everyone doesn’t fall under the same situation. Everyone has different personality traits. Yes, your personality plays a great role in everything you do, and this holds even with investing money. You invest your money in something that you believe in. The venture capitalists invest money in the startups which they believe in. There might be numerous startup ideas in front of them. But they choose a few and that doesn’t mean other ideas are bad or don’t have the potential. Apart from the growth perspective, they also emphasize their own belief. 

There is a show, “Shark Tank” telecasted in Sony which is an adaption of an American-based reality show under the same name. Here too, if you observe the investors do see the numbers but make their decision based on their beliefs. It’s not often that all investors simultaneously offer to invest in a particular idea. Ultimately their beliefs decide and their way of looking at the potential decides. Some ideas might be appealing for a few investors and not for the rest. 

Believe in your insights when making investment decisions. Listen to people but make your own decision. Don’t keep all your eggs in one basket. It’s not always that the investment that gave higher returns to your expert will also give you the same. Take the car, observe the road, and drive through on your belief. You may hit a pole on the way, but next time you will be cautious and more confident, and then my friend you will enjoy the journey.