5 months ago
Is it okay to have all my money in one pool?
I really like the 'Saskatoon Halal Meat Cooperative' and want to put all my savings into it. Is that a bad idea?
10 Answers
Omar, it's generally not recommended to put all your eggs in one basket. That's a huge concentration risk. Even if you love the project, what if something goes wrong with that specific business? Diversification is key to protecting your capital.
You're right. I was just excited about the project. I'll use the AI recommender to find a few more pools to balance it out. JazakAllah khair for the advice.
Especially with a private, illiquid investment. It's not like you can sell half of it tomorrow if you need cash.
Let the man do what he wants. It's his money. Maybe he'll hit it big.
Brother Sal, while it is his money, the principles of the Shariah also encourage prudence and safeguarding wealth (hifz al-mal). Diversification is a prudent financial strategy that aligns with this objective. It's wise counsel.
The YOLO (You Only Live Once) investment strategy is generally frowned upon in Fiqh, I believe.
Our platform's AI recommender is specifically designed to help users create a balanced portfolio. We highly encourage using it to mitigate concentration risk.
diversify bro. pick 3-4 pools. real estate, sme, agriculture. sleep better at night.
Think of it as a garden, brother Omar. You wouldn't plant only one type of vegetable, would you? A storm could wipe it all out. Better to plant many different things!
That's a beautiful analogy, sister. Thank you.