Imbibe, Implement, Ignore: Suggested New Year Resolutions for Investors

Published: January 2, 2018 at 9:57 am

Last Updated on

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

  1. I will list my financial goals first, plan a strategy and then worry about investments
  2. I will recognise the returns I need for my financial goals and invest accordingly.  I will not madly chase after returns.
  3. 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.
  4. I will not search for a ‘good pension plan’ or a ‘good child plan’, for I recognise they do not exist.
  5. I will not worry about my mutual fund holdings each time the market slumps.
  6. I will learn to analyse investments on my own …. using tools available at freefincal 😉
  7. 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.
  8. I will not ask for an opinion about an investment option and wait for someone to agree with me!
  9. 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.
  10. 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
  11. 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!
  12. I will recognise the importance of inflation and stop obsessing about ‘regular income’.
  13. 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.
  14. 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.
  15. 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?

New Year Resolutions for Investors: eating healthy
Pic credit: Marco Verch
  1. 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.
  2. I have some personal writing goals, a bit too early to disclose them. Let us hope for the best.
  3. 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

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

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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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About the Author M Pattabiraman author of freefincal.comM. Pattabiraman(PhD) is the author and owner of freefincal.com.  He is an associate professor at the Indian Institute of Technology, Madras since Aug 2006. Pattu” as he is popularly known, has co-authored two print-books, You can be rich too with goal based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management.  He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice. Pattu publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year (2.5 million page views) with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis. He conducts free money management sessions for corporates  and associations(see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints, TamilNadu Investors Association etc. Contact information: freefincal {at} Gmail {dot} com (sponsored posts or paid collaborations will not be entertained)
Want to conduct a sales-free "basics of money management" session in your office?
I conduct free seminars to employees or societies. Only the very basics and getting-started steps are discussed (no scary math):For example: How to define financial goals, how to save tax with a clear goal in mind; How to use a credit card for maximum benefit; When to buy a house; How to start investing; where to invest; how to invest for and after retirement etc. depending on the audience. If you are interested, you can contact me: freefincal [at] Gmail [dot] com. I can do the talk via conferencing software, so there is no cost for your company. If you want me to travel, you need to cover my airfare (I live in Chennai)

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Freefincal has original unbiased, conflict-of-interest-free,  topical reports, reviews, commentary and analysis on all aspects of personal finance like mutual funds, stocks, insurance etc. All guest authors and contributors to the site also do not have any conflict of interest. If you find the content useful, please consider supporting us by (1) sharing our articles and (2) disabling ad-blockers for our site if you are using one. No promotional content We do not accept sponsored posts and link exchange requests from content writers and agencies. This is our privacy policy Our website is non-profit in nature. The revenue from the advertisement will only be used for hosting charges, domain registration charges, specific plugins necessary for traffic growth and analytics services for search engine optimisation.

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You Can Be Rich Too with Goal-Based Investing

You can be rich too with goal based investingMy first book is meant to help you ask the right questions, seek the right answers and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.  It is also available in Kindle format.
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You WantGamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you wantMy second book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at low cost! Get it or gift it to a young earner

The ultimate guide to travel by Pranav Surya

Travel-Training-Kit-Cover This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step.  Get the pdf for ₹199 (instant download)

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8 Comments

  1. Yes, great resolutions dear Pattu, except last one!! One needs to continue to read what Pattu writes even on non financial things to do things right!! Looking forward to your resolution on writing on non financial topics once a week, that’s great when nowadays we hear only on Bulls and bulls from market.!!

  2. Pattu,

    A very Happy and healthy new year to you and your family. Hope you are able to meet all your goals this year.
    Thank you for this wonderful service called freefincal. We the readers are truly blessed.

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