The numbers are not in our favor. If we risk a little to make a lot, the odds are against us! If we risk a lot to make a little, once, again, the odds are against us. We are much better off keeping what we’ve got and adding to it, rather than try to ‘beat the game’, because the chances are, we will lose more than money. We will lose our self-respect and common sense will NOT rule the day because we didn’t think before we acted!
If we truly want to become introspective, we need to look at things in another way.
If you do win, calculate the number of wins you have experienced, versus the number of losses. Add up the totals of your win figures and then deduct the totals of those losses. If you are, in fact and in truth, “ahead”, consider this situation as “Temporary”!
The facts are : Those who win the lottery, firstly, do NOT seek professional assistance with a highly-qualified advisor. These so-called “winners” end up not only losing everything they have won, but more often than not, in a short time, they become indebted to the government for a greater amount than the original proceeds they have “won”!
These “winners”, in most cases, become losers within a short period of time!
It is agreed that, in many cases, one can increase the odds of becoming a “prudent” investor if one just follows these simple steps :
If the above points show reason and logic and set forth a path for an investor to make prudent choices, this may be something to consider when deciding to go into a solid financial direction, moving forward with your life!
Gary Knight, Investment Consultant since 1979