The story behind amatuer investor!

Feb 2008

I had got a promotion, a bonus, had bought a laptop, had surplus left even after parking money for downpayment of my bike, and incidentally, stock markets were on an all time high, threatening everyday, to reach new highs, almost creating an inferiority complex among those who were not a part of it yet..and then i too decided to jump into it. The consequent year has been a year of learning, albeit it came at the cost of 70% loss in value of my portfolio, but i still believe that the learnings have been more valuable. The most important learning has been to save for a rainy day, after making sure u have enuf funds to meet ur expenses in the near future, and ONLY THEN, if U have SURPLUS, gamble with it..Unfortunately my planning was a bit different..Feb 2008 was when i began, and i was hoping that come Feb 2009, i wud b completing a year of investing (hence wud be able to redeem it without paying any taxes), and that the returns from the amt invested wud b ENUF to pay for 20% of my Tax Savings..unforunately nothing turned out as planned, and i had to really CUT CoSTs to save enuf for my tax savings.

My Plan for 2009:
Its the year of recession, and m saving for the rainy days first..creating enuf backup to survive for 6 months in case......
that means i need to save around 120K Rs..have saved 45K till now, and set myself a deadline of April end to save upto 100K..lets c how things go.

Things have looked bright now, but i have seen and learned a lot. This blog is inteneded to make people learn from my mistakes, so they can avoid making those same mistakes (but often unavoidable) again.

No comments

Powered by Blogger.