How Financial Literacy Helps
Personal bankruptcy stats apart, the numerous small businesses that have collapsed are other examples
. It is impossible and definitely foolish to suggest that anyone, even finance pundits could have foreseen the complete picture of what was coming, but the fact is that while the big industries as well as numerous multi millionaires got affected in many ways, it was the common people, the working class, the retirees that got the brunt of the calamity in more numbers and with more impact than the more affluent citizens. Many investors have made money in the recession; in fact they made it by' the recession. The downfall of the market did affect everyone, but it affected the prepared investors who had the financial know how notably less than others. The key to this is the basic fact that, while the markets' may seem like something in the nature of a capricious God figure whose temperament changes by the minute, this is definitely not the case. True, knowing the ups and turns of the markets in detail may be possible or even easy to the top notch experts, but for the common man it is an absolute impossibility. Even if you think you know everything, it is but certain that there will be something that bypassed your omniscient self! Joking apart, it is imperative that you understand what a smart investor does, and this is incredibly simple and applicable in life as well. A smart investor knows that information overload (dose!) is hardly the answer to handling the market. You know some things, other things you can not. The way to survival is hardly to know everything that looms in the future, but to have a basic understanding of how things work, and then to be prepared for what you can not predict in the future. This is the way it works, and how it should. Options' is the operative word. And true financial literacy will show you can deal with this.
How Financial Literacy Helps
By: tanmay
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