What is your Financial Goal: Quick Profits or Wealth Creation?
‘Investment’ is the seed we plant for the proper utilization of our funds in such a way that we can achieve our financial goals. If we don’t set financial goals, at some point in our lives we may start wondering where all our money went. Having a random goal won’t take you far either! – It is important for a person to know where he should save and spend his funds and set financial goals based on priorities. If you don’t do this, you may end up spending more than you should. Eventually, you will end up short on funds you needed for unexpected bills and retirement.
To ensure, that does not happen to you – set your financial goals!
Generally, financial goals are categorized in short-term, mid-term, and long-term goals. On the basis of this, they set up their investments. Before you take any step towards setting up your investments, ask yourself - what is your financial goal – is it making quick profits or wealth creation?
People who often trade in the stock market for making quick profits are generally traders. These are the people who are more interested in making profits from day trading stocks or commodities and make big returns on the difference in share prices. These people are the ones who have very short-term goals and not concerned about saving money to create wealth over time. On the contrary, they are much interested in quick profits.
There are different categories of people who prefer to invest in the long-term for wealth creation reasons. These people are one who properly manages their investment portfolios and implements a plan and pushes it to action. These people are more patient and market volatility doesn’t concern them. In fact, one who is in financial investment for wealth creation understands their risk tolerance and smartly chooses their investment options.
Most mutual fund investors and people who invest in equity cash are investors who are in the business of wealth creation and give more importance to the company’s value rather than market volatility.
Now it is up to you! You decide, what is your financial goal: quick profits or wealth creation?