own financial decisions


should i take my financial decisions by the facts, by my opinions or by the opinions of others?

A few days ago a friend consulted me about his investments. He has money invested in some financial instruments that he had recommended to him. He asked me if he should convert it to hard currency or use the money in some other way.

The situation in general has not changed since our previous conversation, so I still consider that for him it is the best option… for now.

He insisted and I began to investigate a little. He talked to several people and each one gave him different instructions. They even told him that it was stupid to have the money “stopped”.

Here I return in detail to the title of my writing:

• Acts. To drink financial decisions we must have a cool head to analyze the facts. It is not only what happens in the financial market, but much more. The investor’s personality, his past, his relationship with money, his schedule, his plans, his future, etc. Of course, we will not lose sight of the local and global financial facts. The only thing is that these do not help us to easily predict the future, only to analyze possibilities. And only if we are good analysts, not speculators or fortune tellers.

• Opinions: We can believe and listen to the claims of others. But they are still opinions. An entrepreneur would take the money and multiply it in his business. Are you an entrepreneur? Asked. The answer was no. You can’t do with your money what the businessman would do with his. What if I put it in his hands? Before that I would wonder why he would need it if he is so adept at his. Many give their opinion, few analyze, and even fewer get it right over time.

• Otrinions: The opinions of others are easily scattered. We read a book or watch a video and immediately make the perceived concepts our own. Sometimes we mention the source to give power to the source. otrinion. In terms of investments, there are no equal solutions for everyone at all times. Investing in real estate can be an excellent option at one point, but if interest rates rise too much it is no longer attractive. The one who does not have the initial capital may not have that option. He who is a merchant can multiply his assets more easily in his business. And so thousands of options.

Advising, suggesting or advising is not the same. Anyone has an opinion or uses the opinion of others. Understand someone’s personality, their relationship with money, their plans, their reality, etc. It is a very delicate job that we consultants do before telling someone what they should invest in.

—Diego Sosa, what about investing in Bitcoin? My friend told me at the end of our conversation.

—If someone advised you that, it’s because they really don’t know you. At your age, with your personality, knowledge, history, and financial reality, I’d rather not even bring it up.

We cannot compare ourselves with anyone if we want to manage our personal finance. Each one has its reality and for that reality there are several solutions.

Source-www.diariolibre.com