A man was once asked to paint a boat. He brought with him paint and brushes and began to paint the boat a bright red, as the owner asked him. While painting, he noticed that there was a small hole in the hull, and quietly repaired it. When finished painting, he received his money and left.
The next day, the owner of the boat came to the painter and presented him with a nice cheque, much higher than the payment for painting.
The painter was surprised and said “You’ve already paid me for painting the boat Sir!”
“But this is not for the paint job. It’s for having repaired the hole in the boat.”
“Ah! But it was such a small service… certainly it’s not worth paying me such a high amount for something so insignificant.”
“My dear friend, you do not understand. Let me tell you what happened. When I asked you to paint the boat, I forgot to mention about the hole. When the boat dried, my kids took the boat and went on a fishing trip. They did not know that there was a hole. I was not at home at that time.
When I returned and noticed they had taken the boat, I was desperate because I remembered that the boat had a hole. Imagine my relief and joy when I saw them returning from fishing.
Then, I examined the boat and found that you had repaired the hole! You see, now, what you did? You saved the life of my children! I do not have enough money to pay your ‘small’ good deed.”
This story is very relevant to every investor. There are many holes in the financial boats that could sink your financial future.
These holes are the commission heavy investments that eat away at your savings. High transaction fees are another set of holes. Spending habits that are aggressively promoted by banks offering personal (and other) loans are other holes.
Our mission at Jama is not just to make it super easy for you to invest your hard earned money. It is also to repair the holes in your financial boats.