We are in the digital age. Nowadays we live more in the virtual world than in the real world. If we want to shop for groceries … we have an app; we want to shop for clothes … again an app; even medicines can be ordered on the app. Cookery books have given way to youtube videos … One can even learn how to solve Rubik’s Cube, dance Garba, play Cricket … from the web.
But can you actually learn to invest from the virtual world? While accessing the web, I came across a number of questions like ‘Where do I invest my money ?’… ‘How do I invest my money?’ … ‘Which is the best way of Investment?’. These questions are also answered by virtual advisors whom the investors have never met. I find it quite amusing that at one end, we restrict our children from talking to Strangers and here we are trusting Strangers on the Web with our hard earned money and taking cues on investment from them.
The advice given may or may not be correct, may or may not suit the investor … but who cares it’s free and it’s a piece of advice… who knows it may work … we will keep our fingers crossed
A lot of hard work, sacrificing family time, postponement of present consumption goes towards arriving at that investible amount. As an advisor, it is important to talk to investors personally … to understand their requirements, goals, and aspirations. Just by filling a risk profile questionnaire or age-wise categorization is hardly enough to arrive at ‘The Investment Advice’.
Our yester-generations emphasized on meeting people personally … why? …you can ascertain a lot about a person by gauging his body language. When we meet Investment Advisors, we may develop a comfort … a trust … which is impossible with Virtual Advisors. That’s why Senior Citizens still frequent Bank and Broking Branches while we are busy with our virtual reality.
Money is important… so will you be Penny wise or Pound…