In this article, we will be discussing Do It Yourself (DIY) Investing? Should everyone do it? Is it good or bad for investors? So let’s get started on this discussion and let’s check whether DIY Investing works on not.
Key Elements of DIY Investing:
- One should basic interest and understanding of finance like the stock market, financial planning, risk profile, and other aspects.
- Sometimes there is a case where the individual has a keen interest in finance, but lacks time to dedicate to it.
Why does DIY Investing not Work?
- Just like in the case of health, where an individual does some DIY thing in small cases like headache, stomach pain, etc. an individual also does some ‘Do It Yourself’ thing with the finance, but when the conditions become serious, he/she rushes towards financial advisor just like in the case of health emergencies.
- DIY Investing differs from person to person and hence it is subjective. One should not copy the stock/mutual fund portfolio of other investors to follow the path of DIY investing. This approach can also lead to false or wrong results in the end.
- A single person can not whole thing apart from his excellence and knowledge. Financial Literacy or the Financial field is a vast concept and a single being might lack so many things in the market which can lead to disastrous results.
What Should Investors Do?
For ‘Do It Yourself’ Investing, one needs to have both interest and time toward financial education. One needs to understand that at different times and conditions, DIY investing might suit or might not, and hence one should take a cautious approach before making financial decisions. Do follow due diligence before making an investment decision.
Disclaimer: The information here is provided for reference purposes only and should not be misconstrued as investment advice. Under no circumstances does this information represent are commendation to buy or sell stocks or MF.