At the beginning of 2021, with a beautiful vision for the future, I deposited a fixed deposit of 400,000 yuan in the bank. Now, when the fixed deposit came as promised, I found that in these three short years, I was not only facing a simple savings contract, but also a test of financial management concept and risk tolerance.
I vividly remember that at that time, I chose a three-year fixed deposit, mainly because of its stable income - 4.1% annual interest rate. In my eyes, bank deposits are a low-risk way to invest, and although the returns are not too high, they are better than stability. However, when I went to the bank yesterday to renew my deposit, I was dumbfounded to find a fact that I was very surprised by. When I went to withdraw money, the lobby manager enthusiastically recommended the wealth management product to me, saying that the annual interest rate was as high as 4% and the risk was low.
In the face of such changes, I can't help but feel ripples in my heart. Having speculated in stocks, of course, I understand that wealth management products can indeed bring higher returns, but the risks should not be ignored. My friends have all suffered in this regard. My friend bought 80,000 yuan of wealth management products last year, and now he has lost so much that he only has 50,000 or 60,000 yuan left. I firmly believe that high returns often come with high risks.
The bank manager saw that I was hesitant and suggested that I consider an insurance product. He said that the principal of insurance is guaranteed, but I understand that once you put into insurance, the principal will be locked in for a long time, and you can only do it in a hurry when you need money urgently. For an average investor like me, the safety of the principal is paramount.
After much consideration, I decided to go ahead and choose a fixed deposit. Although the deposit rate has been significantly reduced at the moment, for me, safety and reliability are the most important thing. On the road to financial management, I know that I need to be more cautious and sensible. The change in interest rates is only a small step on the road to financial management, and how to balance risk and return requires more wisdom and experience.
There is still a long way to go, and I will continue to learn Xi and explore the mysteries of financial management. In the pursuit of wealth, I firmly believe that only steadiness and sanity are the real guarantees. And those experiences and lessons will become valuable assets on my way forward. If you can't bear the risk, it's better not to invest indiscriminately, I don't know if you think I'm right?