Yes, you read that right, as much as an investment can be very lucrative, help you to achieve your financial goal and make you succeed financially. If you go about it the wrong way you might end up shooting yourself in the foot by losing all your hard earned money, which would cause you to hate all sort of investment opportunities, indirectly making investment your worst enemy. All owing to your poor decision making when it comes to investment.
Investment Can Be Your Worst Enemy When:
You Chase After Get Rich Quick Schemes
When someone offers or introduces you to an investment opportunity that promises unimaginable returns over a short period of time, almost looking like a fairy tale, it probably is. It is usually a scheme to rob you off of your money.
Do not get overly get excited about such opportunities to the extent that you’d drop your money without thinking, take your time to think and research about the investment. If you don’t find any information about it, it is best you do not delve into it.
You Put All Your Eggs In One Basket:
If you stick to just one investment plan, most especially if it is a high risk investment plan, you might end up losing all your funds. If you are new to the financial market, start with low risk investment plans that offer guaranteed returns, like government securities and investment packages offered by Financial Institutions. That way you are sure you can get your funds with the accrued interest when the tenor ends.
You Do Not Understand What You Are Investing In:
Before you place funds in an investment opportunity, make sure you understand everything and the all terms stated when you are about to embark on it. Take your time, do not rush, if you do not understand any financial terminologies used, request for an explanation. A finance company or an investment broker who truly has your best interest at heart would explain every nitty gritty.