Mistakes
What’s the biggest financial mistake you’ve made in your life so far?
Invested in a share called Asian Tiles basis a friend's recommendation. First invested 1L, then doubled it. Now the stock is down 70%
Lesson learnt: Do not use friends for personal gain
dlfcybercity
Stealth
a year ago
bro iex suna hai? 😂😂😂
Pubsubguy
Stealth
a year ago
Bc Mera bhi atka hai usme
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Gus
Stealth
a year ago
Hey, how is Xeno?
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1. Not starting SIPs earlier and not investing. Actually calculated the opportunity lost, and turned out - I could very well have got FIRE by now.
2. Spending hell lot of money on booze, clothes, and smoking, when I should have been gymming and investing.
3. Not starting up early. Didn’t have the guts or courage to do it. Had lots of ideas, most of which got implemented by lot of companies.
AllMonkey5Saviour
Stealth
a year ago
Mutual Fund is a Scam investing in Normal Blue Chips gives more returns
Earlier MFs were good due to the perseverance nature of MF managers, but currently there are very few Fund managers who has patience. Mostly owing to competition and showing better results, there are frequent buying and selling, probably because of which you may not be able to get good returns.
I always put my bet on the fund manager rather than returns from MF. That way, I have been able to get an overall close to 13% XIRR till date(includes all categories).
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Wanderer
Stealth
a year ago
Education loan for masters abroad
waitwhat
Stealth
a year ago
I’m not sure if I’m in the middle of a mistake. But I’m quite hesitant to deploy my modest capital into any sort of markets. Everything seems overinflated. I have a nominal 30K sip into a flexi cap mutual fund. That’s all I have currently. I’m keeping all the cash with me (post-expense).
waitwhat
Stealth
a year ago
Markets are risky. Real estate is expensive. Job market is volatile. And I have no generational wealth.
Keeping cash means you are burning money uselessly, so yes that is a mistake. If you don’t know what to do, and you have enough cash for next 2-3 yrs contingencies, start putting the rest in index funds or ETFs.
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2nd year of college, in 2013, a friend told me to buy some bitcoin. Thought it was a joke.
Bitcoin price 2013: Rs 1200
Bitcoin price 2014: Rs 45000
Bitcoin price 2021: Rs 45,00,000
Same here, professor told about Bitcoin and Blockchain in general. But didn't bought anything. Also the mining. One of colleague did mining - got to know much later. Too easy to mine bitcoing in 2013/2014
MaDDogx
Stealth
a year ago
Got scammed on Discord. That's ₹25k I'll never see again.
Oathkeeper88
Stealth
a year ago
Please enlighten us so that we don't make the same mistakes
MaDDogx
Stealth
a year ago
Just don't give money over to strangers on the internet, even though they send you their Aadhar, PAN etc.
You think by asking for this you can get stuff sorted if they don't return your money. Let me burst your bubble that it won't do jack shit.
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ChotaChetan
Stealth
a year ago
That's one financial mistake I can relate to
Location ?
Was told to invest in property preferably in land but I think investment in a flat won't be that bad ??
Could you explain more plz ?
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Demon
Stealth
a year ago
I did. 83% return in few months !
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AllMonkey5Saviour
Stealth
a year ago
Invested 2 Lakhs in Doge 🪙 Coin with Elon Musk it went to 24 Lakhs forgot to remove do to hold 👀🙈
AllMonkey5Saviour
Stealth
a year ago
All down the drain
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Passionchameleon_22
Stealth
a year ago
Sold esops to buy a car 😪, today I could HV bought 4 bmws with that money!
spidey
Stealth
a year ago
Damn. Which company esops?
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1. Started investing in MFs and equities too late
2. Invested in penny stocks to look for quick returns. Big mistake.
3. Spending money on these Club Mahindra/Country club type holiday schemes. Worst financial decision ever. Do not buy these schemes. You’ll lose money and the benefits are very limited and not worth it.
Kept relying on the corporate health insurance only.
MildUse55
Stealth
a year ago
What went wrong?
I bought at 5000-6000 usd rates back in 2017,
Then instead of holding on peacefully, did trading on 10x-50x margin, lost most of them.
Cashed out the remaining just before 30% tax enforcement timeline.
user_140
Stealth
a year ago
Dont buy a flat. I did and earned lower than inflation returns. These builders dont leave much upside for 10 years. And after 10 years the premium isnt much because of the age.
You cant sell immediately nor later because of low demand of aged flats.
Heya
Student
a year ago
Are u talking about flat as investment or flat for living?
user_140
Stealth
a year ago
Its a financial mistake to invest/buy a flat. Better to buy land and make your own house. Dont buy via builders
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1) Could’ve started my SIPs earlier and invested more
2) Didn’t need to get too much m around the crypto boom - lost 10% of my savings
