Demystifying Investment Misconceptions To Achieve Financial Freedom
Most people desire to be filthy rich so they can afford to splurge on expensive penthouses, exotic holidays, and luxury cars. At the same time, others simply wish to have enough cash in the bank to live life on their own terms.
The reality is that many individuals spend their salary as soon as they get it, which results in significant debt and getting stuck in the rat race for longer. However, it doesn’t have to be this way, and the key to moving closer to achieving financial freedom is making sound investments.
Unfortunately, most people have been programmed from early on to believe misconceptions about investing, which prevents them from achieving financial independence. These myths can only be challenged with better knowledge of why we need to invest.
So, to ensure you follow the right course of action with your money, the experts at Magnum Mortgage Corp. have demystified the most common investment misconceptions that deter us from achieving financial freedom. Read on to learn more.
1. Investing is frightening
Investing is frightening only if you don’t control your investment and have no idea where your money is getting parked, such as in pooled funds. Therefore, it’s critical for investors to ask their financial advisor a lot of questions before investing.
2. Being wealthy is bad
To become wealthy seems unattainable to most people, so they consider it wrong or that rich people are dishonest. While there are corrupt people out there, it doesn’t make accumulating money a bad thing if it’s done legitimately.
3. Financial independence is not attainable to the common person
Financial freedom is achievable for everyone, and the critical steps necessary to attain financial security apply to everyone. Getting the right financial education from experts is crucial to get ahead.
On a final note, it’s essential to remember that most of us have never been taught to build our financial IQ or to even daydream about acquiring the finer things in life. Without a dream or desire, we fail to act, and without action, nothing changes. So, are you ready to make a change?
For more information on investing, reach out to Magnum Mortgage Corp. We are a private mortgage lending firm in Sherwood Park, Alberta that has been around since 2003. In the past eighteen years, we have used our expertise and integrity to add value to our client’s financial position by funding and administering private residential mortgages. We are also a fully functioning mortgage brokerage, making us a one-stop-shop for all your mortgage needs. Our services include private loan administration, private mortgage lending, and RRSP lending. We serve clients across Sherwood Park, Edmonton, Strathcona County, St. Albert, Sturgeon County, and Spruce Grove. We also cover Fort Saskatchewan, Parkland County, Leduc County, Red Deer, Beaumont, Camrose, and the surrounding areas.