Last Updated on October 1, 2023 at 4:48 pm
Here is a list of suggested New Year Resolutions for Investors based on three principles: imbibe the basis, implement it as soon as possible and ignore the noise. To me, personal finance is nothing more than common sense. And common sense is nothing but mathematics expressed in a spoken language. Before I started the blog, I knew nothing about investor behaviour and aspects of behavioural finance. It was irrelevant to me. Now I find myself learning about the different ways in which people handle their finances and how different ‘attitude towards money’ can be.
Please find below some of my findings listed in the form of New Year Resolutions for Investors
- I will list my financial goals first, plan a strategy and then worry about investments
- I will recognise the returns I need for my financial goals and invest accordingly. I will not madly chase after returns.
- I will ensure all my tax-planning is perfectly aligned with my goals. I do not care whether it is April or November; my tax-planning depends only on my goals, and I, invest for my goals all through the year.
- I will not search for a ‘good pension plan’ or a ‘good child plan’, for I recognise they do not exist.
- I will not worry about my mutual fund holdings each time the market slumps.
- I will learn to analyse investments on my own …. using tools available at freefincal 😉
- I will not be swayed by posts/comments/news that predicts market movements, suggests stocks, gold, real estate, bonds, anything. I don’t give a rat’s fart.
- I will not ask for an opinion about an investment option and wait for someone to agree with me!
- I will not hold a lump sum in my SB account and wait for the next set of bonds or the next big investment opportunity.
- I will recognise that I can die anytime (even before I finish reading this post! Perhaps because of it!) and take a term insurance policy and write a will
- I will recognise that there are a million diseases that can make me sick anytime. If I rely only on my company health benefits and wait until I retire to get my own policy, I may not be able to get one. So, off I go to get one for all my dependents right now!
- I will recognise the importance of inflation and stop obsessing about ‘regular income’.
- The Information Diet: How Less Information Can Make us More Informed: I resolve to streamline my personal financial life as quickly as possible so that I don’t have to read blogs, follow FB groups on money, watch TV shows, etc. anymore.
- I will understand what conflict of interest means and recognise how deep-rooted this is in the financial services. This will help me with resolution no. 13.
- In any case, I resolve to stop reading the one written by a pretentious idiot named ‘pattu’.
To me, that is the best way to becoming financial literate:
- Imbibe the basis, asap
- Implement the basis, asap
- Ignore the noise, asap
I do hope you agree with this list. Would you like to add (or subtract) to this list?
Freefincal in 2018: What to expect and what would you like to see?
- This year, I would like to write more about health and living – if possible once a week. Would like to dedicate Friday to off-beat topics including health.
- I have some personal writing goals, a bit too early to disclose them. Let us hope for the best.
- Web-based calculators have been on my mind for a long time. In addition to the three freefincal android apps, would like to maybe learn some python and implement at least simple tools.
Regular freefincal readers would have seen how the content here has gradually evolved. There are two boundaries to push further: A: create simple content that many will appreciate and understand; B: Create unique content for the truly DIY investor
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I need your help with both. Do let me know what content you would like to see in 2018. Questions that you have always had, questions that Google did not help with. The more unique the content, the more it would help me and others. Before you comment, please use the search bar and check if it has already been covered before.
Note: Posts like “review of XYZ product” bore me. They get a lot of traffic, but it is irresponsible blogging and I would prefer to do as little of that as possible.
Back from a holiday? The last week was pretty busy here. You may have missed these posts:
Ten years after the 2008 crash: the 1st market milestone of 2018
How to buy a personal accident insurance policy
Use Mutual Fund Star Ratings to understand how much you lose via commission
Why we all need a corpus for medical expenses and how to build it
Google spreadsheet portfolio tracker for stocks and mutual funds
Stats Trivia for 2017
Last year more 267 posts were published (considerably lower than 2016). I would like to decrease this further in 2018 – less is truly more.
More than 10 lakh people visited the site viewed the 1000+ posts here 2 million times. Thank you for your support.
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Our Podcast: Let's Get Rich With Pattu
On Spotify: Let's Get RICH With PATTU! Every single Indian CAN grow their wealth!
Audible Link: Listen to the Let's Get Rich with Pattu Podcast
You can also watch podcast episodes on the OfSpin Media Friends YouTube Channel
Listen to the Let's Get Rich With Pattu podcast on YouTube.
Now watch Let's Get Rich With Pattu தமிழில் (in Tamil)!About The Author
Dr M Pattabiraman giving a lecture
Dr M. Pattabiraman (PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over 14 years of experience publishing news analysis, research and financial product development. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free, AUM-independent investment advice. Connect with him via Twitter(X) LinkedIn YouTube Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (Published by CNBC TV18) for DIY investors. 
This book helps you ask the right questions and find the right answers. It also includes nine online calculators to create custom solutions.
(2) Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want. 
Both the boy and girl versions of "Chinchu Gets a Superpower".
Most investor problems stem from a lack of poor decision-making. We made bad decisions and money mistakes when we started earning, and we spent years undoing them. Why should our children go through the same pain? What is this book about? As parents, what if we had to groom one ability in our children that matters not only for money management and investing but for every aspect of life? My answer: Sound decision-making. So, in this book, we meet Chinchu, who is about to turn 10. The story follows what he wants for his birthday and how his parents plan it, while also teaching him key ideas about decision-making and money management. What readers say! 
Feedback from a young reader after reading Chinchu Gets a Superpower!
Must-read book even for adults! This is something that every parent should teach their kids right from a young age. The importance of money management and decision-making based on their wants and needs. Very nicely written in simple terms. - Arun.
About freefincal & its content policy
Freefincal is a News Media organisation dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact Information: To get in touch, please use our contact form. (Sponsored posts or paid collaborations will not be entertained.)Our publications
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