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My best Investments in my life

Hi Reader,

I've made a lot of mistakes in my life. I'm not proud of them all, but I know that making mistakes is essential to growth. After that some mistakes, I learn some lesson and start changing my behaviour. And done some best investments have all resulted in immense growth in my wealth.  I have identified my top five investments in life, that  I would like to discuss is my personal favorite. And the fifth one is the best of them all.

1. Invest in our Skills

When I started my career journey, I realized the importance of earning more money. No matter how much I can make from investing in multi-baggers stocks, if I invest a small amount of money, the return won't be significant enough. For example,  Even if I invest in multi-bagger stocks and generate 10 times return, if I invest a very small amount of money, then even 10 times return won’t make a significant change in my life. So I wanted to earn more, so I worked hard to update my abilities and eventually got promoted to a manager position in the company. This resulted in an increase in my wealth and gave me the capital to make further investments.

Apart from that, I noticed a lack of awareness about money management and investing, which I had personally encountered when investing. Then I focused on researching money management and investment, which I found to be a lacking knowledge in our country.ence, I spent years understanding the concepts and practices of money management and spent several years learning about money management, and the knowledge I acquired has been invaluable. If you wish to increase your wealth, I suggest starting with investing in your skills. This way, you will have the capital to put into investments that will allow you to grow your wealth. 

2. Learn the Art of Investment

When I started earning money, I had no idea where to invest my funds. Like many Indian investors, I wanted to double my wealth quickly. I searched for mutual funds and stocks on Google and invested my money.Unfortunately, I incurred losses at first. Thankfully, I soon realized my mistake and took a step back. This was the second best investment decision of my life, as I decided to learn the art of investment. I invested my time in reading great books like Rich Dad Poor Dad, The Intelligent Investor, The Psychology of Money, and One Up on Wall Street.

This was immensely helpful, as I gained knowledge about the right mindset for investments. I realized the importance of patience, discipline, and compounding. I learned about the power of compounding when investing early. I learned the difference between a trader and an investor, and the importance of controlling emotions such as fear and greed while investing. Most importantly, I learned how to identify the right stocks and mutual funds according to my financial goals and risk appetite. Everyone has a different risk tolerance, and a friend's portfolio might not work for you. Similarly, everyone has different financial goals. Knowing this was the best part.

3. Right Team plan and health plan

If you were asked what the most important thing in your life is, most people would say family. It could be our parents, spouse, kids, or anyone connected by blood, and it is our responsibility to secure their future. Family is the most important thing in our lives and it is our responsibility to secure their future. This is why risk management is a crucial part of financial planning. That why, in case of an unfortunate event, who will take care of my family? This thought made me invest in a term plan, which is a life insurance that provides financial security to my family in case something happens.

Therefore, my third best investment is securing the future of my family with the right term plan and health plan. As I was learning the art of investing, I came across the idea of risk management and I feel that risk management is one of the most important aspects of financial planning. Life is unpredictable and we don't know what could happen the next moment. That's the hard truth. In fact, every day, many people in our country die due to an unfortunate event. While we don't like to think about death, the first thing that came to my mind was who will take care of my family in case of an unexpected event.

That's why I invested in buying a term plan which is a pure form of life insurance, providing financial security to my family in case of an unexpected event. That way, if something happens, my wife can live a dignified life and my son can get a good education without having to ask for money from others. Personally, I took a term plan of fifty lakhs rupees and a family floater health plan for my family that covers me, my wife, and my mother. This health plan ensures that in case of any medical emergency, my family is well taken care of.

4. Avoiding Wrong Investments

I have learned to save money by avoiding the wrong investments. The first wrong investment I avoided was mixing insurance and investment. Insurance mis-selling is very common in our country and people often don't understand the returns they will get from the insurance they purchase. Luckily, I understood this and could save myself from such mistakes. There is a famous saying that "Every penny saved is a penny earned".

The second wrong investment I avoided was buying fancy cars and gadgets. We all want to buy our dream car as soon as we start earning. With the availability of credit cards, loans, and EMIs, it can get very tempting to buy things on loan. But, after learning more about investment, I realized the difference between an asset and a liability and avoided buying things on loans and EMIs. I made a promise to myself that if I ever need anything, I will make sure to earn enough to afford it and not buy anything on loan or EMI. This decision ultimately helped me attain financial freedom and I was even able to quit my job without any EMI burden.

The third wrong investment I avoided falling for big investment dreams that promised to double my money in no time. Many people fall for penny stock ideas that offer multi-packer returns in no time, but I was able to stay away from such schemes. But, I did not give in to such temptations and could save money.

5. Invest for Physical and Mental Health

I still remember the lines of late Mr. Rakesh Junjunwala when he was asked about his worst investment; he said his worst investment had been his health. I would encourage everyone to prioritize investing in their health. In our quest to make money, we often end up compromising with our physical and mental health. There's no point in making crores if you don't have anyone to care for you.

These days, due to peer pressure, many people are compromising with both their physical and mental health. It is common to find people in their 30s and 40s suffering from obesity, back pain, migraine, blood pressure, and even heart issues. Mental health is also a serious concern, and there is an increasing number of cases of depression. People often resort to consuming alcohol and other substances to numb their mind and distract themselves from their mental problems.

I was aware of this fact from my college days, so my fifth best investment was in my physical and mental health. I truly believe that good physical and mental health is the biggest asset in life. Thankfully, I never compromised with my physical health; I made sure to spend 40-45 minutes a day either walking, playing a sport, or working out. For me, family is the most important part of my life and I truly value good relationships. This was one of the reasons I quit my job, as I wanted to live a peaceful life with

Summary

So, to summarise, the five finest investments of my life are:

1. I am always improving my talents,

2.Studying investing and money management,

3. Safeguarding my family's future with a term plan and a health plan,

4. Avoiding the improper investments, such as combining insurance and investing purchases on EMI, and

5. Investment in addition to healthy physical and mental health.

Conclusion

Among all the fine investments we discussed, investment in good physical and mental health is the best of my life. I strongly believe that life is a journey, not a destination, and it is critical to enjoy this journey. While making money is important, there are other things that are equally important, such as good health and relationship.

That's what makes a balanced life, therefore I'm attempting to live a balanced life with my five best investments; tell me which is your best investment, and please share my blog with your friends if you find it beneficial.

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Location: India

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