How much time and energy should I give to my investment management activity?
If we are in any job or business from which we earn our livelihood and save enough to invest in some assets for saving ourselves from inflation and building a nest egg for our families future, then I recommend that we must have a basic understanding of financial markets and select professional to handle our investment management activity, we must review the performance of professional appointed, but leave day to day work to him, if needed we can change the professional if we are not satisfied with the performance.
We don’t do our own surgery, we appoint well-qualified doctors for it, why?
Because doing surgery involves great painstaking study which we know we have not done and we can’t do.
Investing in stocks is easy, Right? Think again.
Doing investments in stocks from the surface doesn’t require much skill, you can open a brokerage account and buy any shares you have heard from your sources. You may face profit or loss in the short term with its kick of high or pain, both are harmful to you in the long term.
If you gain profits in your early trades, you become overconfident about the result, attribute it to your skills rather than market movements and you lose big in near future and quit the market for life.
If you lose in your early trades you quit the market for life,
Both outcomes are very bad for our future.
The best investment in our life is we
We must focus on our job and spend maximum possible time to upgrade ourselves in our vocation and enjoy free time with friends and family, pay a small fee to professional to manage your investment and save yourself from agony and loss of opportunity of markets, and save a lot of time, the return you will get on investment in yourself will far outperform your return from investment in time and energy you will spend to run your investments on day to day basis.