Monday, August 12, 2013

My Investment Pledge

If you fail to plan, you plan to fail?

Well, I'm going to write down my thoughts about my investment philosophy and I'll probably update it as and when, to make it better, of course! But for now, I think I will just simply write a pledge, something that I can look at every once in a while and see if I'm really following it.

My name is _________,

I want to be financially free in my life.

To be financially free, I must both save and invest.

I pledge to live within my means.

I will not not spend more than I make.

I will not borrow unless I have the means to repay.

I will consistently save money.

I will invest my savings with prudence and dilligence.

I will not take any action, without fully understanding the risks involved.

I understand that time is money, and I will always strive not to delay actions.

I will not make any action as long as I am awaiting crucial knowledge pertaining to my investing.

I will preserve my capital.

I will try to grow my principal.

I will not be greedy, average performance is ample for me.

If possible, and with the supporting information, I will seize the opportunity to make a sound investment.

If I am ever uncertain, I will withdraw my money and cut my losses.

I will recite this pledge to myself before I make any investment decisions.

3 comments:

  1. Hello!

    Im impressed by the unfailing pledge! it's always good to have a refresher before investing on something new to prevent wrong investments.

    All the best,

    jfree

    ReplyDelete
    Replies
    1. Hi jfree,

      Sometimes I also forget to recite this pledge :X But yes, it is good for me to refer from time to time to make sure that my investment philosophy is grounded on some good basic wisdom and I don't get carried away!

      Delete
  2. Investment plan is a major part of trading, and so as the SGX Hot Stock Picks picks to do it successfully.

    ReplyDelete

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