They said that it is hard to learn financial literacy and it will take time to learn how the money works which is undeniably true, seeing the current state of our country—especially the poor and developing countries where the economy is not on good state and the poverty is every where.
Unfortunately, it is because people are blinded on a trap where they are thinking that they are on a good position of their life—working for money. It is one of the mistakes of everyone that will make them to stay in being poor.
In the end of this article, you will encounter the following:
They are not investing their time
Scam is everywhere
“It is risky!”
Laziness at its finest!
They are not investing their time
If you don't get it, the meaning behind this statement is people have no money to invest. Obviously, the first thing that you need to have to be able to invest is none other than money. If you ask a person, “Why not investing on stocks? On crypto?” they will answer “I don't have money to invest in.” Well, we can't blame them. It is really hard to find a money. But the person that is dedicated to have a money will do their best for their future, so how? It is simple, invest your time to make money.
This is quite opposing on my introductory statement, “Unfortunately, it is because people are blinded on a trap where they are thinking that they are on a good position of their life—working for money.” but the first thing to consider when you are investing is to have a money, and if you don't have it you need to invest your time first to make a money and when you have the money then invest! It is simple.
Scam is everywhere
It seems that there are more scammers than smart people who knows how to spot the scam project/person. It is sad that there are still people who got scammed because of not being cautious and observant, in the end, they are ended up in being scared of investing. Take this news as an example from cnbc.com
“Identity fraud cost Americans a total of about $56 billion last year, with about 49 million consumers falling victim.
That’s according to the 2021 Identity Fraud Study by Javelin Strategy & Research released Tuesday. About $13 billion in losses were due to what Javelin calls “traditional identity fraud,” where cybercriminals steal personally identifiable information and use it for their own gains, such as through data breaches.”
There are different kind of scamming tactics and it is done by smart scammers. It is sad that in our generation, there are still victims from scamming. There are also news from television where there are people who got scammed in Bitcoin, that is why many people are afraid to adopt cryptocurrency.
“It is risky!”
Let's be direct to the point, everything in this world is risky but it depends on how risky it is. There are situation who have a 1% of being risky and risk is everywhere. In addition, most of the people who became successful probably took the risk and as the result? They succeed. Don't get me wrong, I am not saying that once you take the risk you will succeed. There are still business person who took the risk who failed. On the other hand, they said that “Riskier means higher rewards” but it is also “more loss” once you have the wrong decision.
Furthermore, these people who succeed in taking the risk is not only taking the risk, they also know how to manage the risk and this is the thing where most of the people fail. They don't know how to manage their risk. Personally, I am still weak and scared of the risk that is why I am still learning and on the process.
They said consider your loss as a charge for your experience, it will be your payment to your experience and learn from your mistake.
Laziness at its finest!
Well, people nowadays didn't bother themselves to read and do a research before investing. Sometimes, they are signing the contract without reading it like seriously? What if the contract said “In the end of the month, you will give the company a $10,000 for your...” well, you signed on it so it's hard to get out!
This is what you will always heard on professionals “Do your own research” it is important, take note of that. Don't be lazy on researching before you invest because we are talking about your money! Don't rely on someone's word because if you will have a loss, it is possible that you will blame them.
Conclusion
Investing is not easy, it is the twin brother of the word “risky” but once you learned how to do it and how to manage it, you will have a financial freedom. Remember the things that you need to consider before you invest; researching, managing and trusting your position.
In the end, it is still better if we will learn from our experiences and mistakes because there is nothing wrong with that, it is a part of being successful. Let the money work for us to keep us rich financially and be grateful on what we have. Keep learning!
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Published: June 25, 2021
Lahat naman risky. Nasa tao lang yan hehe. Investment needs a lot of time