Investment Tips: Ganesh ji is here! This 10-day long festival has brought a time of happiness, celebration and reconciliation.
Investment Tips: People not only celebrate the festival in their homes, apart from this it is also celebrated on a grand scale in societies and public pandals. ‘Ganpati Bappa Morya!‘ Slogans and sweet offerings of ‘Modak’ add to the festive and auspicious atmosphere. Lord Ganesha holds a special place in the Hindu tradition. He is known as ‘Vighnaharta’ or the God who removes obstacles. Ganpati Bappa is often prayed before starting anything new.
There are many stories and symbols regarding the form of Lord Ganesha. His elephant head symbolizes wisdom while his large ears stand for listening to everything with intent. His body represents strength and toughness, while his vehicle the rat symbolizes humility. If we look at the idol of Ganapati, we often see that his left tooth is broken. According to mythology, Maharishi Ved Vyas, who wrote the Mahabharata, wanted someone to write this story (Mahabharata), because it comes from his mind. No one on earth was capable of writing at such a fast speed. Therefore, he sought help from Lord Ganesha. Lord Ganesha agreed to help him. Ganesh ji started writing with an ordinary pen. However, his pen broke in the middle of the article. Ganesh ji did not want to stop, he broke his tooth and made it into a pen and continued writing. His dedication and commitment brought to life an important epic in the Hindu tradition.
This story teaches us the power of persistence and dedication without being deterred by any kind of obstacles. Often in investing and in life, we start something with great enthusiasm but stop at the first hurdle or obstacle. For example, every January 1, we take gym membership and soon a lot of things start happening in our lives and we become so busy that the priority of fitness gets left behind. Similarly, we start our investment journey by setting a financial goal, but as soon as the market becomes unstable or falls, we stop our SIP. Even cash out your investments ahead of time. There is a cost to be paid for premature closure of SIP. But just think, what will be the result if we continue going to the gym despite other important tasks or if we continue investing despite market fluctuations? Let’s look at some data to make this clear.
What will happen if someone closes his investment prematurely with every fall in the market? Suppose Mr. Edgi starts a SIP of Rs 2,000 per month on 1 September 2018. Assuming that the investment was in Nifty 50 TR index. There was a big fall in the equity markets in March 2020. Let’s see how Mr. Edgy’s investment looks. Did they redeem their investments at the time of the downturn and invest the corpus in fixed deposits, or did they continue to invest.
If Mr Edgee had continued his SIPs after the volatility of 2020, he would now have a corpus of around Rs 1.76 lakh. This is just a small example that shows consistency can play a big role in your wealth creation story.
So, if we continue going to the gym despite other important tasks or if we continue our investments despite market fluctuations, what will be the result? We will remain healthy and fit with our body and our financial condition will also improve. Keeping this in mind, let us start our investment.
