Whenever you visit a doctor with an ailment, he asks you a list of questions related to your symptoms. After noting down all the symptoms, he either prescribes for further tests or gives you medicines/ pain killers to treat this ailment.
Does he give you treatment instantly after you describing him your first pain in the body? No, He doesn’t. He tries to understand all the symptoms and pains that you have to decide on right prescription of medicines.
He does two things while prescribing medicines 1) To cure the ailment by giving pain killer / antibiotics 2) He also suggests change in food / exercise habits and suggest Vitamins / Tonics to strengthen your immunity system.
Here he is handling both your short term & long term needs of the body. But he does this only after complete check of your existing conditions. This is to ensure that you are healthy and stay fit for long term.
Now, reflect this approach to your financial well-being. How often would you have asked your colleagues / friends / relatives to suggest you a good investment option because you had some money in your bank account.
Don’t you think, it is wise to look at the holistic picture of your financial status / goals before choosing any investment option. How can anyone prescribe a random option for your financial well-being.
Your Investment choices are dependent on your risk-profile, existing investment corpus, cash-expense flows, liquidity needs, short term and long term goals.
As it is said, A correct diagnosis is three-fourths of the remedy. A well-planned investment choices are your best remedies for your financial well-being.
The irony is major part of every adult’s life is spent in building careers and in making money for their family and future generations and very less / no time is spent on planning and getting a right professional advice to ensure this money is put into appropriate investment options to create wealth.
This pain killer approach to investment decisions gets you instant gratification in the short term, for long-term goals and financial independence you need to give your investments dose of vitamins / tonics (professionally designed plan).
Entrust your investment decisions to a good financial advisor, whose only motto is to make you understand the benefits of staying put with an investment and walk with you in your journey to financial independence.
He / She has expertise in the subject and help you to understand all the perspectives of choosing an investment option.