I have to admit, I think about this question a lot. Probably most men with a family do or maybe they don’t. I am not sure.
Some of my friends have told me that if I want to secure a good financial future I have to start doing some investment now. OK, so I have to invest. They told me I have to invest in shares, bonds, mutual funds or real estate. Great! That’s sounds straight forward.
But I quickly realised, I have no cash to start with. My problem? I have not saved. Damn! If I only I knew back then what I know now. Anyway, that’s water under the bridge and I should learn and not repeat the same mistake.
This morning, after reading an article, I realised my another mistake. I have been also receiving advice from people who themselves are NOT investors! So really I should be talking with people who are successful investors. The article went to say this regarding investing in mutual funds – “if there are strong managers, weak directors and passive investors, then it’s only a matter of time before the looting begins”. That’s probably explains why a number or mutual funds have been looted by fund managers in PNG.
When I was first given a prospect to invest in mutual fund in PNG, a friend of mine quickly browsed through the prospect and after seeing who the fund managers were he adviced me not to invest in that particular mutual fund. I’m glad I did not. Currently there is an inquiry into that particular mutual fund. Not that my friend was an investor, he had some idea into the background of the fund managers.
So I have decided that I should start saving now and start talking with people who are successful investors and get some insight into investing.