Do more

There's a lot of bad financial advice out there, especially for the novice investor. The most visibly bad advice is about making money from buying crypto or trading derivatives. However, this kind of advice doesn't do any damage to sensible investors because it is self-evidently wrong. Far worse, in my view, is bad advice about mutual fund investing. Since the underlying asset class is an inherently sensible one, investors can't figure it out easily. And the worst of such bad advice is the type centred around setting wildly unrealistic expectations. Get on to social media, YouTube, etc., and you will see lots of content that is basically of the 'turn Rs 20,000 a month for 10 years into Rs 5 crore' type. Can this be done? Clearly not - the implied rate of return is 58 per cent per year, sustained for a decade. Can this be promised and believed by at least some people? Definitely, and the reason is not