A sailor was working on a ship for 3 years. He got drunk one night. This happened for the first time in 3 years. The Captain recorded this in the register as -The sailor was drunk tonight. The Sailor knew this would have a bad effect on his job. So, he apologized to the Captain & requested him to add, �This happened for the first time in 3 years,� as this was the truth. But the Captain denied & said, �Whatever I have entered is the truth.� After a few days, it was the sailor�s turn to fill the register. He wrote in the register � The Captain was not drunk tonight. It was now the captain�s turn to ask the sailor to change the sentence as it showed that the Captain was drinking every night. The Sailor refused & said, �Whatever I have written is true.� Both the sentences were true but the message that came from both was half truth.
What we Learn here: The first �half truth� about investing is saying �I don�t have money to save.� The truth is you earn enough to save but you are unable to control your expenses & save. Survey data in the US found that 60% of millennials earning over $100,000 a year were living paycheck to paycheck. The answer is simply to save before you spend. The second �half truth� is that most investors say they are �long term� investors. But they look at markets in silos. They