{"id":223,"date":"2018-09-24T17:23:33","date_gmt":"2018-09-24T11:53:33","guid":{"rendered":"https:\/\/srinivesh.in\/blog\/?p=223"},"modified":"2019-01-09T12:11:15","modified_gmt":"2019-01-09T06:41:15","slug":"young-investors","status":"publish","type":"post","link":"https:\/\/srinivesh.in\/blog\/young-investors\/","title":{"rendered":"Young Investors &#8211; Do&#8217;s and Don&#8217;ts"},"content":{"rendered":"\r\n\r\n&nbsp;\r\n\r\n\r\n\r\n\r\n\r\nA thread in Quora asked for a list of worst financial mistakes that a person in 20&#8217;s can <a href=\"https:\/\/www.quora.com\/What-are-the-worst-financial-decisions-one-can-make-in-their-20-s\/answer\/SriNivesh\">make<\/a>. The brief answer lists 4 such mistakes. The source of the list is the classic article in <a href=\"http:\/\/www.jagoinvestor.com\/2015\/07\/investors-mistake-in-early-life.html?utm_campaign=newsletters&amp;utm_medium=email&amp;utm_source=wysija\">JagoInvestor<\/a>\r\n\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n \t<li>Buying products only for \u201csaving tax\u201d<\/li>\r\n \t<li>Waiting for the \u201cright time\u201d to invest<\/li>\r\n \t<li>Getting high on debt, early in life<\/li>\r\n \t<li>Over relying on relatives, friends and parents for your financial decisions<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n\r\nIn this short article we would look at how these mistakes get made and possible ways to avoid them.\r\n\r\n\r\n\r\n\r\n<table class=\"wp-block-table has-fixed-layout\">\r\n<tbody>\r\n<tr>\r\n<td>Errors<\/td>\r\n<td>Why they happen<\/td>\r\n<td>How to avoid<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Tax Saving Bias<\/td>\r\n<td>Focus on tax-savings without a proper plan<\/td>\r\n<td>Choose investments aligned to your plan\r\nFrom that, choose tax-saving options<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Market Timing<\/td>\r\n<td>Focusing on short term volatility\r\nIndecisiveness<\/td>\r\n<td>Develop a long horizon for investments\r\nIgnore short term volatility and build discipline in investing<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Excessive Debt<\/td>\r\n<td>Desire for immediate gratification\r\nAggressive selling of loan products<\/td>\r\n<td>Avoid loans for depreciating assets\r\nBuild up savings to purchase gadgets, take trips, etc<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Biased\/Incorrect advice<\/td>\r\n<td>Relying on &#8216;free&#8217; advice\r\nInability to detect bias in advice<\/td>\r\n<td>Don&#8217;t take advice from sellers\/agents\r\nInvest in professional advice<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n\r\n\r\n\r\n\r\nRelated articles\r\n\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n \t<li><a href=\"https:\/\/srinivesh.in\/blog\/plan\/52\">Why does one need a Financial Plan<\/a><\/li>\r\n \t<li><a href=\"https:\/\/srinivesh.in\/blog\/adv\/137\">How does a financial advisor help you succeed?<\/a><\/li>\r\n \t<li><a href=\"https:\/\/srinivesh.in\/blog\/tax\/178\">Saving Tax \u2013 What Not To Do<\/a><\/li>\r\n \t<li><a href=\"https:\/\/srinivesh.in\/blog\/personal-finance-rule-2-pay-your-credit-card-bills-in-full\/\">Rule 2 &#8211; Pay your credit card bills in full, every month<\/a><\/li>\r\n<\/ul>\r\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; A thread in Quora asked for a list of worst financial mistakes that a person in 20&#8217;s can make. The brief answer lists 4 such mistakes. The source of the list is the classic article in JagoInvestor Buying products <a href=\"https:\/\/srinivesh.in\/blog\/young-investors\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-223","post","type-post","status-publish","format-standard","hentry","category-gen"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts\/223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/comments?post=223"}],"version-history":[{"count":4,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts\/223\/revisions"}],"predecessor-version":[{"id":425,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/posts\/223\/revisions\/425"}],"wp:attachment":[{"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/media?parent=223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/categories?post=223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/srinivesh.in\/blog\/wp-json\/wp\/v2\/tags?post=223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}