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5 Mantras For Your Financial Fitness

 


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Hello,


The second lockdown is here. With a lot of us stranded at home, some are either doing daily chores of the house or stretching the working hours a little more. Some are also thinking to start-over the fitness resolution they made in the beginning of the year. Some are also looking to start their investment all over again.

To all those who want to get back to the resolutions they made in the beginning of the year, here's our guide to your physical as well as financial fitness. We are sure you will enjoy reading as much as we did while writing it for you.

THERE IS NO SHORTCUT TO HEALTH OR WEALTH

You can't get Disha Patani's perfect body or Tiger Shroff's rippling muscles by just ogling over their posters or videos. You've got to sweat it out yourself to develop that kind of fitness. Select whatever approach you want - pump iron, swim, run long distances, cycle challenging terrains or anything that gives you a kick. The key is to be regular at it. Don't expect overnight miracles; they are neither possible nor healthy. Give your best shot every day, and watch the miracle unfold gradually.

It's not much different with your portfolio investments either. You won't make money by merely admiring star investors' portfolios. You've got to work towards building one yourself. And it takes time. You've got to study businesses, talk to managements, customers, suppliers, dealers, fellow analysts, do channel checks, study company's' financials and check corporate governance issues (if any). There is a lot of hard work that goes behind building a portfolio of stocks that compound your wealth year after year. There's no shortcut here.

CONSISTENCY, PATIENCE AND PERSEVERANCE

Fitness is not a weekend job, nor is it one dimensional. You've to exercise regularly, regulate your diet, get adequate sleep, handle stress effectively and juggle between work and personal commitments. None of these can take a backseat; not even for a while. You have to be consistent with your efforts, patient with the results and persevere despite obstacles.

Your equity portfolio also demands a regular regimen of reading, researching and talking. It's not every day that you come across a stock that qualifies as a multi-bagger. If your portfolio does not underperform the benchmark indices, you've made a start. If you can beat the index, you're improving; if you can do that year after year, you've become a pro. If your portfolio has several multi-baggers, you're a genius. The whole journey takes time, effort and commitment from your end, but the results will be gratifying.

DON'T FALL IN FOR "INSTANT" RESULTS

There will always be miracle drugs available for instant boosting of sports performance or muscle growth. Don't fall for any of these "miracles". They are dangerous and will only ruin your health over the longer term. Real fitness comes from actual practice and actual exercise; not by taking shortcuts.

Similarly, wealth creation doesn't happen by following "sure-shot tips" or "momentum chasing" or by running after "penny stocks". It is built by giving time to your investments. As a famous saying goes, "Time in the market is more important than timing the market".

THERE WILL BE DISRUPTIONS, DON'T WORRY

While you will stick to your fitness plan as much as possible, there will be days when things will go "off-plan". This could happen due to health reasons, personal/professional commitments or numerous other reasons. It's okay, and it's expected. The key is to get back to your regimen as soon as possible.

You may need to withdraw some of your equity investments, which were meant for the long term, for unforeseen reasons. Secondly, you may not be able to invest for a few months due to liquidity demands elsewhere. The key is to get back to the investing mode as soon as things are back to normal. As Abraham Lincoln famously said, "It's not about how many times you fall, but how many times you get back up".

TO HELP YOU REACH YOUR GOAL FASTER, HIRE A COACH

You indeed have to do all the heavy lifting yourself. However, getting an expert to coach you can help a lot.

Thankyou
Stay safe
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