Out of those who join Gym, just 10% continue after a couple of months. This ratio increases manyfold if they have a gym buddy.
The buddy would continuously pressurise you, persuade you and make the gym visit, a task that must be done.
Soon, going to the gym together becomes a fun game.
That’s the power of having a buddy. Same thing applies to having a financial assistant or advisor. Even if you know everything about the investments, this person will keep you on your toes to continue your SIPs, keep you motivated during tough markets & continuously remind you about the goals which must be accomplished. This is lacking when you do it all yourself. There is an advertisement in the “Mutual Fund Sahi Hai ” campaign where a gym guy says that he doesn’t need a trainer because he has the knowledge of exercise so he can do it himself. But what is missing in this advertisement is that he had a friend with whom he can discuss his gym prowess, the one who motivates him as well. Which is what you need as an investor to discuss and remain interested in your investment journey.
So, be it your investment advisor, or be it your friend. There must be someone with whom you can discuss your investment progress and progress of your financial goals. One who can keep you enthusiastic even in the tough market times.
Yes, by investing directly, you may save some commission/fee but you might lose the discipline of continuing a long investment journey which may result in achieving sub optimal outcomes.
Manoj Pandey
CFP
