The Diwali festivities are on and it is an auspicious time for new beginnings. It is also a time for shopping, giving and receiving gifts and spending time with family and friends and gorging on sweets and savouries. There is also a tradition of “Muhurat Trading” which involves a token buying of stocks. So how about starting an SIP for wealth creation this Diwali?
Investing is often overlooked at this time of the year, because we are busy buying new clothes, jewelry, gifts, foods, etc as part of a celebration and we do spend a considerable amount on these. However, why not start a small SIP this year as a part of your Diwali ritual?
Diwali has many mythological stories associated with it, the most popular being the celebration of Lord Ram’s return from his 14 years of exile. I am sure, we all can learn a lesson or two from this.
1. Lord Ram was sent into exile because his father had made a promise to his step mother. Although this decision was an extremely difficult for his father, he kept his promise. From this one can learn is that to achieve a financial goal one must implement tough decisions. Like saving to invest and not giving into instant gratification.
It is very easy to spend and very difficult to earn. It will require a lot of conviction from your end to start an investment journey. Gift your child a SIP instead of a gift. In the short-term she may not appreciate this gesture but in the long-run she will remember and cherish what you taught her.
2. During the time of exile there were numerous instances when Lord Ram faced challenges and hardships but he continued on his journey and, in the end, he was victorious. Similarly, when the markets are volatile over the short term and there is too much of noise around, don’t stop investing in equity due to the noise. You have to stay on your path.
We all know the consequences of Sita having crossed the Laxman-Rekha. As equity tends to deliver over the long-term giving into market fear will prevent you from earning good returns over the long-term.
3. Lakhsman and Sita along with Hanuman, an ardent devotee of Lord Ram, followed him everywhere with dedication. Similarly, while investing, show diligence and dedicatedly continue investing. Give time to your investments to grow, let them compound over the years so that you can build wealth and have a good financial future. Take a pledge to continue your monthly investment, irrespective of the size of the amount. Have a disciplined investment cycle.
4. During Diwali Goddess Laxmi is worshipped. She is symbolic of wisdom and perseverance. Similarly, inculcate those same traits while investing, with wisdom choose the right schemes based on your age, investment horizon, financial condition and risk appetite. Do consult an investment advisor to help map your goals to your investment products.
5. Last, but not the least, Lord Ram endured the pain of exile of 14 years and emerged victorious in the end. Do have the patience to let your investments grow and enjoy the power of compounding. You too will eventually have a substantial corpus.
I hope this Diwali you will give equal importance to your investments as well and begin investing for your future. May this diwali enlighten your pool of knowledge and may you gain wisdom from your successes and mistakes. Perseverance grows wealth.
Happy Diwali to one and all and Happy investing!
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