“Is my money safe?”
Some conversations are explicit about fear. Where is my money invested? Can it be stolen? Could I lose it because I made a bad investment?
“Do I have enough?
We have big plans for the future. To send our children abroad for an education. To buy a house on the beach. To retire to a life of travel and leisure. But do we have enough? And will it be enough when the time comes around?
The fear of missing out
Not all fears are expressed explicitly. As my friend said, “what is not said is often heard the loudest”.
The fear of missing out on a rising stock market. The fear of not being in the right sector or fund or investment. A lot of this fear is driven by stories we hear from friends and family. We are social beings. And we don’t want to be left out.
The fear of appearing ignorant
We don’t want to seem as if we don’t understand money. That we don’t know how to manage it. Men are far more susceptible to this than women. Women are far more willing to admit that they do not understand. Men should learn from them. The solution to any problem begins with admitting there is a problem.
Dar ke aage jeet hai: Make a plan
The best way to deal with fear around your money is to have a plan. There is a good chance things will go wrong. Some investments will sour. Markets will crash and take your portfolio down. But fear and panic will not get you anywhere.
If you have a plan, you can deal with fear. The plan lays out what you need to do. Having a plan can be of great assurance in a stressful situation.
There is only one thing more important than having a plan. It is executing it.
Get a finance professional to help you make a plan and then to execute it.
Good luck!
If you need help managing your investments, here’s how we think about money.
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