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You are here: Home / Investing / 5 Ways to Destroy Your Wealth

5 Ways to Destroy Your Wealth

It’s common if you are wealthy to worry about losing your fortune due to forces beyond your control. Like market meltdowns or economic stagnation.

But what many of us don’t realize is that our own behavior may be the root of significant losses.

“The road to hell is paved with good intentions,” goes a proverb. The road to investing hell is paved with bad behaviors, and here are the five roads which initially look like paved with gold, but which often take us towards wealth destruction.

Wealth Destruction for Dummies - Safal Niveshak

Daniel Kahneman was right when he said this –

A human being is a dark and veiled thing…and whereas the hare has seven skins, the human being can shed seven times seventy skins and still not be able to say: This is really you, this is no longer outer shell. So said Nietzsche, and Freud agreed: we are ignorant of ourselves.

We certainly are. Don’t you think so?

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Reader Interactions

Comments

  1. Vasanth says

    September 20, 2019 at 1:16 pm

    This article is short, yet gives so much information. Thank you.

  2. Krishna Kumar KK says

    September 20, 2019 at 2:17 pm

    Hi Vishal,

    As much as I envy your writing, am equally jealous about your handwriting & drawing skill. May your tribe grow 🙂

  3. Venkateswaran says

    September 20, 2019 at 4:00 pm

    I always love the way you explain things in a simple way. Can we add ‘Averaging a dud stock’ to wealth destruction.

  4. Nirav Thakkar says

    September 20, 2019 at 7:23 pm

    Thanks a lots for sharing lots of knowledge in very simple and short words
    Thanks once again Sir 🙏

  5. Somil says

    September 21, 2019 at 6:15 am

    Hi Vishal- in the case of 2 of the circles, you have an adjective defining it. (high) for fees and (inadequate) for diversification. Would the other adjectives be (frequent) for trading, (overly or high) for leverage(d) and (attempting) to time the markets?

  6. Radhika says

    September 21, 2019 at 7:06 am

    Amazing

  7. Dr Suresh s sarda says

    September 21, 2019 at 11:00 am

    A simple but, highly meaningful diagram. Each point needs at least one page explanation. I have subscribed recently. Hence, will try to search any clue in your books or so. But, trading is risky, whatever clues may get from market experts. For e.g. many give only 2,3 scrips , for intraday watchlist. But, don’t recommend buy/sell, as that expert wants investor to study and decide at least buy /sell decision. But, many people don’t have patience to study and in a hurry to make money (Click) loose money in the market.

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