MomsallMomsall
Aa
  • Home
  • Financial Services
    Financial ServicesShow More
    How to Buy Out a Sibling on Shared Property
    How to Buy Out a Sibling on Shared Property
    1 year ago
    How to Save a Dollar a Day to Save Money for Students
    How to Save a Dollar a Day to Save Money for Students
    2 years ago
    Finance Interview Questions with Answers
    Finance Interview Questions with Answers
    2 years ago
    NGLUCKY App
    NGLUCKY App – How to Earn From NGLUCKY App
    2 years ago
    2Captcha Review
    2Captcha Review – Is 2Captcha.com Legit or Scam?
    2 years ago
  • Tech
    TechShow More
    Samsung Galaxy s23 Ultra vs Samsung Galaxy s22 Ultra Specs
    Samsung Galaxy s23 Ultra vs Samsung Galaxy s22 Ultra Specs
    1 year ago
    iPhone 14 vs Samsung S23
    iPhone 14 vs Samsung S23
    1 year ago
    iPhone 14 Pro Max vs Samsung S23 Ultra
    iPhone 14 Pro Max vs Samsung S23 Ultra
    1 year ago
    Apple vs Samsung
    Apple vs Samsung
    1 year ago
    samsung vs iphone
    Samsung vs iPhone
    1 year ago
  • Reviews
    ReviewsShow More
    Best Smart Watch for Android
    Best Smart Watch for Android
    1 year ago
    Compare and Contrast Superman and Batman
    Compare and Contrast Superman and Batman: An In-Depth Comparison
    1 year ago
    Cengage Customer Support
    Cengage Customer Support: How to Contact Cengage Customer Service
    1 year ago
    Uber Eats Customer Services Number
    Uber Eats Customer Services Number: How to Contact Uber Eats Customer Services
    1 year ago
    Activities to Celebrate Valentines Day
    Activities to Celebrate Valentines Day
    1 year ago
  • Quizzes
    QuizzesShow More
    Nursing Student Quiz
    Nursing Student Quiz – Take Quiz Now!
    2 years ago
    Upwork Readiness Quiz
    Upwork Readiness Quiz – Take Quiz Now!
    2 years ago
    Fiverr Quiz
    Fiverr Readiness Quiz – Take Quiz Now!
    2 years ago
  • Test & Answers
    Test & AnswersShow More
    Top 10 Interview Questions and Answers PDF
    Top 10 Interview Questions and Answers PDF
    1 year ago
    Care Home Interview Questions and Answers
    Care Home Interview Questions and Answers
    1 year ago
    Fundamentals of Nursing Test Questions and Answers PDF
    Fundamentals of Nursing Test Questions and Answers PDF
    1 year ago
    Google Ads Search Certification Answers
    Google Ads Search Certification Answers
    1 year ago
    Cheat Sheet Walmart Assessment Test Answers PDF
    Cheat Sheet Walmart Assessment Test Answers PDF (Updated Version 2023/2024)
    1 year ago
  • Scholarships
    ScholarshipsShow More
    Queen Elizabeth Common Wealth Scholarship
    Queen Elizabeth Common Wealth Scholarship
    1 year ago
    Coolidge Scholarship
    Coolidge Scholarship: Requirements and Application Process
    1 year ago
    Courage to Grow Scholarship
    Courage to Grow Scholarship
    1 year ago
    Cameron Impact Scholarship
    Cameron Impact Scholarship
    1 year ago
    Alumni Association Student Engagement Scholarship
    Alumni Association Student Engagement Scholarship
    1 year ago
  • Funfactnook
  • About Us
Aa
MomsallMomsall
Search
  • Home
  • Financial Services
  • Tech
  • Reviews
  • Quizzes
  • Test & Answers
  • Scholarships
  • Funfactnook
  • About Us
Have an existing account? Sign In
Follow US
© 2023 Momsall LTD. All Rights Reserved.
Financial Services

Investment Decisions That Can Turn A Millionaire To A Pauper (Don’t Make These Mistakes)

Ekene Okolie
Last updated: 23/08/04
By Ekene Okolie
Investment Decisions That Can Turn A Millionaire To A Pauper
SHARE

If you’re already counting your millions, it’s only natural for you to desire to multiply your millions into more millions and hopefully, into billions. But you’ll need to be careful while making those key decisions, so you won’t be referred to as “That man or That Lady that used to be rich”. I’ll be sharing some poor investment decisions that could turn a millionaire into a pauper and of course, how to avoid making such decisions.

Investment Decisions That Can Turn A Millionaire To A Pauper
Table of Contents
  • Investing Without A Proper Plan

Investing Without A Proper Plan

While it’s not enough to find that amazing investment opportunity, without a proper investment plan, you’re about to have a very bumpy ride. Your investment plan should include the specification of the duration of the investment, and the consistent inputs to be made, as the case may be. A lot of people who started investing without an investment plan mostly end up making hasty decisions, and losing out, not necessarily because it was the wrong investment choice but because there was no proper plan in the investment.

Investing Without Considering Your Risk Tolerance

Everyone has a unique tolerance of risks, in other words, there are some very risky investment choices that may not be for you because the level of risk that accompanies it is too high for your stomach. It may even get to the point where you could get ruffled up and decide to withdraw before the time allocated for the investment to mature. You could be reading this and saying to yourself “Of course I can stomach any kind of risks as long as there’s an assured return”, it is easier said than done. While making your investment choices, always be honest with yourself by asking “Am I ready for such risks”?

Lack Of Diversification Of Investment Portfolio

Often when people come across investment plans that seem to be very lucrative, they rush in putting all their resources into it, sometimes they go as far as selling off assets to meet up the requirement, most times because of the promises that accompany such investment plans. Surely there would be such investment offers to you, that could take sleep away from your eyes and leave you fantasizing about the possible outcome, but you have to shake yourself up. Don’t find yourself selling off assets just to acquire an investment. Always be patient to build your investment portfolio, it may seem like you’re slow at making decisions, but it’s better your decisions are always well calculated. Bottom Line, don’t place all your eggs in one basket.

Investing With Emotions

Just as I pointed out earlier, don’t be too excited while making an investment decision, in other words, don’t do it just because it sounds exciting, and whenever you close your eyes, you see yourself inside that yacht with your name written on it, which happened to be the return of your investment in your fantasy. Also, don’t hit back into the market immediately after a loss, people who invest in forex can testify that doing this is a very wrong move. It is understandable that you want to recover what you might have lost, but you must also be calculated if you must do that.

Investing Without Proper Research

As an investor, One wrong move could lead to a huge loss. A lot of people have been misled into buying shares and making investment plans that were falsified. Despite how eager you are to close that deal, always ensure to do your research.

In Summary, investment decisions are pivotal in the turnout of events, therefore they must be educated, conscious and calculated.

PEOPLE ALSO READ: Loans to Pay Off Debt – Why Should Debt Consolidation Be Considered?

Was this article helpful?
YesNo
TAGGED: Bad Investment, Bad Investment Decisions, Investment, Investment Decisions That Can Turn A Millionaire To A Pauper, Making Bad Investments
Share This Article
Facebook Twitter Email Print
Share
Ekene Okolie
By Ekene Okolie
Popularly referred to a techapreneur with over a decade of experience, Ekene I embodies the spirit of a creative blog curator and an avid enthusiast of blogging, driven by a profound passion. My heart resonates with delving into the forefront of tech updates, critiquing products, and crafting insightful tutorials.
Previous Article Snapchat App For iOS Free Download Snapchat App For iOS Free Download – Download Snapchat App With Ease
Next Article Yahoo Mail App For Android Free Download Yahoo Mail App For Android Free Download – Yahoo Mail Download
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Samsung Galaxy s23 Ultra vs Samsung Galaxy s22 Ultra Specs

Samsung Galaxy s23 Ultra vs Samsung Galaxy s22 Ultra Specs

Jennifer Ibrahim Jennifer Ibrahim 9 months ago
iPhone 14 vs Samsung S23
iPhone 14 Pro Max vs Samsung S23 Ultra
Apple vs Samsung
Samsung vs iPhone
© 2023 Momsall LTD. All Rights Reserved.
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • Privacy Policy
Welcome Back!

Sign in to your account

Lost your password?