Your Investment Plan

Dear Readers,

This article i took from Adam Khoo, the young millioniare in Singapore. You can read his story HERE if you want to know more about him. :)

George Soros, one of the world's top traders and investors once
remarked, "it is not whether you are right or wrong. It is how much
money you make when you are right and how much you lose when you
are wrong".

Soros is often regarded as a genius for being able to make correct
bets on market directions. In 1997, he made billions of dollars
shorting the British Pound, almost breaking the Bank of England.

However, if you study his moves, you will find that he makes as many
wrong predictions as he does correct ones. The only difference is
that when he realizes he made a mistake; he gets out of the market
and minimizes his losses. When he his right, he stays in the
market, riding his investments to its fullest potential.

So, watch you investments closely and have the discipline to sell
and cut your losses when you realize that you have made a mistakes
or when new data emerges that makes your investments no longer a
good one.

I tell my students at Wealth Academy to spend just 10 minutes a day
to monitor their portfolio and once a quarter to do a financial
review.

What Adam Khoo & George Soros mentioned are very true. You NEED to monitor your financial portfolio every quarter year. Do plan accordingly. As saying goes if you fail to plan, you plan to fail. :) May you investing success.