The bedtime stories that we grew up with had a lot to teach us. Every classic bedtime story has its own set of morals that help just grow into better human beings. From teaching us to be kind, to teaching us to work harder for what we want, bedtime stories have lessons meant for kids and adults alike. With more responsibilities on your plate and more stress on your mind, there’s more for you to gain from these bedtime stories now than when you were a child. Here are some lessons about managing your life and investing your funds that you can learn:
1. Examine your options closely: Little Red Riding Hood
If Little Red Riding Hood had taken a moment to wonder by her ‘grandmother’ had such large teeth, perhaps she would not have been attack by a wolf. On the surface, the wolf may have looked like a kind, sweet grandmother, but we all know that he was out to kill her. As an investor, there’s a lot to learn from this fairy tale. You must examine your options carefully, even if they look great up front. Some policies have hidden benefits while others have hidden dangers. Identify policies that are good for you and can make your funds grow rather than sink.
2. Pay your premiums on time: Cinderella
All decked up and ready for the ball, Cinderella had one thing to keep in mind – her 12 o clock deadline. Once the clock struck 12, the magic vanished and it was back to rags from riches. What you can learn from this is that no matter how beneficial your policy may be, and no matter how much your funds are growing, if you do not pay your premiums on time, you can lose everything. One of the best ways to ensure that you can do so is to automate the payment so that you don’t have to keep remembering to pay it.
3. Don’t switch your funds without due diligence: Little Mermaid
The Little Mermaid, Ariel, traded her voice for legs so that she could walk on land and make Prince Eric fall in love with her. Though the planned seemed good at first, it posed a series of challenges because she could not talk and communicate with Eric. Many policies offer the option to switch your investments. For instance, if you have a ULIP, you can switch between the debt and equity market as you see fit. While this can prove to be good for you, it can also be disastrous if you do not perform the due diligence before doing so. Unless all signs point to something being more beneficial than the other, you should not switch your funds around.
4. Investments take time to grow: Rapunzel
Rapunzel was famed for her long, long hair, but she wasn’t born with it! The witch who she lived with took care of her and brushed her hair daily to make it grow until it was long enough to be used as a rope from the highest point of the tower. Like Rapunzel’s hair, your funds will take a while to growth. Do not expect them to double overnight. A little bit of patience and careful fund management is all that is needed, along with a good term. Sticking to the term is the best way to ensure that they grow well.
As you can see, you can still revisit your favourite bedtime stories to learn valuable lessons from them. When it comes to investing your hard earned funds, no lesson is too late!