Hindu girls dressed as Radha and Lord Krishna during Janmashtami festival, which marks the birth anniversary of Lord Krishna in Dhaka, Bangladesh. (Image: Reuters)
Across India and the world, the descent of Lord Krishna is celebrated today. Janmashtami is here, and as we celebrate the birth of Lord Krishna, his sagacity and brilliance, not diving into the epitome detailing his magnificence as he counselled a confused and distressed, yet the fiercely brave warrior hero Arjun on the battlefield, as he faced his kin, during the war in Mahabharat would be remiss. In fact, his words continue to hold a lot of meaning even now, amidst changing worlds and centuries.
And delving into the verses of Bhagavad Gita, often considered to hold the essence of life, it’s impossible to overlook the fragments of financial wisdom that put us on the path of monetary well-being. Take a look.
uddharedaatmanaatmaanam naatmaanamavasaadayeth |
aatmaiva hyaatmano bandhuraatmaiva ripuraatmanah ||
Heard of a man being his own best friend and worst enemy? The shlok details exactly that, elaborating how people should constantly endeavour to better themselves in life and ensure that they don’t fall prey to any societal or personal degradations that adversely impact our life. Why should our financial lifestyle be any different?
The temptation to fall for lucrative, profitable, and popular market trends, even random cryptocurrency and stock recommendations that your friends or relatives follow can be very enticing. And more often than that, the urge to earn quick profits can also deter us from staying invested for the long term.
But remember, sticking to your personalised financial plan in the face of market volatilities and friendly yet ill-informed advice is a test you have to successfully withstand. Correspondingly, staying and increasing your investments, not just monetary, but also in your financial knowledge and education so that you can be comfortably off, both financially and in terms of expertise.
vaasaamsi jiirnaani yathaa vihaaya, navaani grihnaati naro aparaani |
tathaa shariiraani vihaaya jiirnaanyanyaani samyaati navaani dehii ||
“Just as a person casts off old garments and puts on new ones, the embodied soul casts off worn out, old bodies and takes on others”, says the verse. And it’s true, as they say, change is the only constant. What’s life without newer pastures to explore and novel experiences to learn from?
Funnily, the market is much like this so-called spiritual soul. How?
The stock market keeps on cyclically donning and leaving new garbs of lows and highs, bullish and bearish phases. Imagine this. Today, the Nifty closed at an all-time high of 16,931 points, jumping almost 1.35 percent in a single day. But, if you take a look at the 52-week low of the Nifty, it stands at almost 10, 790 points.
The same goes for the Sensex, which touched 56,899 points, inching 1.36 percent today, registered a 52-week low of 36,495 points, significantly lower than its current position. The point is, the highs will not last, and neither will the lows.
So, don’t feel disheartened when your portfolio is in red, and don’t abandon the market, either. Sooner or later, the market will come roaring back, swaddling your investments in green. Linearity is not the market’s favourite movement, and your expectations from it must not follow this course, as well.
patram pushhpam phalam toyam yo me bhaktyaa prayachchati |
tadaham bhaktyupahritamashnaami prayataatmanah ||
Krishna sets forth how he is accepting the offering of even a small leaf, a flower, fruit or water, provided it is offered with loving devotion to him. Nothing is too small, given that it is done with adequate dedication, patience, and commitment.
Ironically, the markets function in a similar manner. Say you invested Rs 500 per month for a period of 10 years. Assuming the rate of return to be at 12 percent, you’ve invested Rs 60,000 over this time period. And per the SIP calculator, you’ll have generated almost Rs 56,000 in returns.
SIPs (Systematic Investment Plans) are your best bet to get started in the market without burning a deep hole in your pocket. SIP allows you to periodically set aside a specific amount to invest in mutual funds, instead of investing in lump-sum. This period can be monthly, weekly, or any time frame of your liking. But remember, this is a long-term investment route because SIPs need the magic of compounding to generate solid returns in the future.
So, here’s to bringing more of Lord Krishna’s wisdom and knowledge into our financial lives too!
Heed to Lord Krishna and his financial wisdom from Geeta this Janmashtami – Moneycontrol.com