Biggest financial myth is ‘retirement’ and ‘golden years’.

  • You can never retire when you turn sixty next minute and ‘enjoy’ life! Tomorrow never comes. It’s okay to save and invest but do you believe that at sixty you will find same energy and enthusiasm to enjoy life!. Live in the moment and never leave any chance to enjoy little pleasantries of life. Happiness is in the moments.
    • Go out and dance in new rain.
    • Sing loud in you bath room and let your family members doubt your sanity.
    • Watch that movie which you wanted to watch and couldn’t watch due to lack of time (Another bull shit).
    • Life is in that ‘pain puri’ on road side stall and not in the lunch at Taj.
    • We have forgot to live. You can get money after retirement but NOT life. Who knows you may not live till that golden retirement! Ask people who died yesterday!
  • Second best financial myth is that ‘Home’ is your greatest investment. It has been conclusively proven that equity beats ‘housing’ (or any other financial instrument known to man) hands down any over any 20 year period in human history.Home is more psychological and not financial.It’s an emotional need which marketeers market. It has been long argued that equity market may crash. But equity market crash amounts to total failure of financial machinery and economy!. If companies are not there, jobs are not there, who will buy homes!. The best hedge against equity of economic crash is ‘Gold’. Thus equity + gold gives you best hedge.
  • Last myth to my knowledge is ‘Investment in financial products’ is best hedge against all odds.Likes of Warren Buffett and many others have repetitively said that biggest investment is in your self and betterment of your skills. Invest in yourself, your self development, studies,course,skills before any other financial product. A computer course in JAVA is worth 10 times same amount of money invested in ‘Index funds’.Nothing sells better than skills and you never know when it may sell!

Bonus myth : People always place health after money. Instead of doing over time in your office for two hours extra to earn those extra bucks, its better to work out in a gym.

Health and new skills beats all the investments combined.