Sin 6. Drifting along

So what are you saving for? Who cares!

Will you be in need of money in a year or two? Not sure.

Have you started long-term planning like retirement? Don't be silly.

Here is a home truth: You better start caring. Be sure. Else, you will end up investing in the wrong instruments, getting dismal returns when you could be earning much more.

All your investments may mature at the wrong time or, worse, all may mature at the same time (when you have no need for it).

If you need a lot of money within a year, do not invest in equity because equity is a long-term investment. If you need some money within a year, you can put that amount in a fixed deposit which will mature within 12 months.