How Not To Lose Your Money After Retirement

in LeoFinance5 months ago

You work hard in your professional life. You make the plan and save your money so that you can live a better life after retirement and you do not need to think anything else. Everything is going well, suddenly you do something that is the biggest mistake ever and you lose your hard-earned money.

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So what's the story?
When you get money after retirement, you are very happy. Maybe you have plans to buy land or something like that. Some people you think you know them tell you that if you invest your money in their company, you will get a higher return every month. They also show you some people who invest their money in their company and they are getting a higher return. You think that's a great opportunity to make more money, and all you have to do is to invest in their company.

Seeing other people investing money in their company, you decide to do the same. So you give your money to them as an investment. You start getting higher returns for a couple of months. Then they say they cannot give your return in the current months. You will get that next month. They keep saying you will get returns next month, but the next month is always ahead. You do not get any return and you cannot get your invested money from them. And you lose everything.

So what can you do not to lose your money?

Whether you believe it or not, there are some people who target you if somehow you know you have money, and eventually, you become the victim.

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1. Ask the question - how

We all want to invest our money in somewhere to get a higher return. There is nothing wrong with that. But when you get higher returns, you also take higher risks. So if someone comes to you and says you will get a higher return, the first thing that comes to your mind is, how.

How can they offer a higher return or profit when other institutions cannot offer that? You ask them questions. You usually get ready-made answers like they make a huge profit from the money that you will invest. They buy things like land and later sell that land at a high price. This way, they make huge profits and you will get a higher return.

What they are saying, is that convincing? If you analyze that with logic, you will find the answer and will not fall into their trap in the first place.

2. Don't just follow what other people are doing

When those people try to convince you, they will show examples to gain your trust. They will show people who invest their money and earn every month, so that's legit and you can do the same to earn. The thing is, if you see some people do something, that does not mean that's the right thing to do. They can make mistakes and realize that later. So don't just follow what other people are doing to make more money. If you do, you can lose money later like them.

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3. Don't make decision-based on emotion

When some people say something whom you think you know, you usually make a decision based on emotion. You think that they will not do anything that will hurt you financially. What they say, you just believe it. Don't get emotional when you make any financial decisions. Otherwise, that can lead you in the wrong direction and you will lose your money.

Once you give your money to someone, that's not your money anymore. He can do whatever he wants with your money. It is your responsibility to be responsible when you make the financial decision.

Thank you so much for reading this post. Please feel free to leave your comments below. Take care. See you around!

Image Sources: 1, 2, and 3.

About Me

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Hi, I am Rezoanul Vibes. I'm a content creator and passionate learner. I write about lifestyle, martial arts, finance, and digital marketing. I make videos without me on the video. Well, you cannot see me, but you can hear my voice. You can visit my website I'm glad to meet amazing people all over the world.

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