If you loosing money; paying high taxes; doing wrong investments. Its not only a problem with governments or corporate companies. Its problem with you also.
You are the reason for loosing your money.
Financial illeteracy. Lack of awareness on frauds/scams, which financial product is good fit for you and which is not…etc. So that you may be ending with wrong financial products or wrong suggestions.
There are few people learning finance gaining financial literacy through regularly watching YOUTUBE videos; Reading news papers; Reading blogs..etc. But even they also ending up with 2 or 3 wrong financial products. I am not telling these based on assumptions. Until now i worked with more than 2000 people. Most of the people financial profiles are more or like similar.
One guy lost 26 lakh in stocks, Another one lost 8 lakhs in network marketing, one guy lost 12 lakhs on crypto currency; another one lost 34 lakhs in real estate. Like this many.
All above is only small fraction of 2000 people But most of the people lost money or losing money not because of above but its because of Wrong Insurance policies; Wrong Fixed Deposits; Wrong Post Office Schemes..etc.
In stocks or network marketing they immediately come to know how much they lost so that they try to recover it in another ways. But these insurance/mutual funds/fixed deposits people dont know until they get that knowledge. Some time it takes upto 60 years to understand it.
So you can ask me that are all these products are not good?. To say truth all products are good. But your success depends on for what goal you aligning one particular product.
For example if you want to use fixed deposits for retirement goal; Its wrong option. You losing money. The same way if you using equity mutual funds for emergency fund. Here too wrong. In the opposite way; For retirement equity mutual funds are good and for emergency fund flexible fixed deposits are good.
So here the conclusion your investment right or wrong depended on your goal not the financial product.
If you want to know more about it; Please attend my webinar “How to have 1 Crore in bank account by simply managing money; Without doing any extra work”.
Refer this link: www.happycoin.in/wi.