07 Jul Lessons in Personal Finance by MSD
- Many people in our lives contribute towards our success and we should never forget their contribution. MSD’s friends, family, his bosses etc all were a part of his success. He couldn’t have reached his pinnacle without their selfless support. Amongst them was one very key person whose passion knew no bounds; who even left his wife standing alone in the middle of the bazaar so that he could reach the news of his selection to MSD. That person was his coach. In personal finance the Financial Advisor is the client’s coach for whom his clients’ goals are nothing short of his own goal.
- MSD’s was feeling very depressed one day when his boss told him that life throws different kinds of balls on us. Some balls are meant to be hit, some defended, some to be left aside and bouncers are to be ducked. Whatever be the case one must never ever give up but instead show patience and resolve to play on and on because that is the path to score big in life. Ironically that is also the path to create big wealth because even in SIP investing the market throws different kinds of balls at the investor. Market volatility at times makes one feel enthusiastic and at other times can leave one depressed. But in order to create serious wealth one needs to show resolve to traverse the volatile path by sustaining one’s SIP irrespective of the mood of the market.
- MSD’s career started on a bad note. His initial scores were so bad that he was not sure whether he would even get a chance to play the next match. And then he scored and scored big. Even in investing, one must not lose heart if the ‘returns’ in the beginning are less than expectation. Just keep at it and soon the ‘returns’ will start to look good. So give your investment time. In MSDs case Saurav Ganguly, the skipper knew it and persisted with him. Later in his career MSD himself showed patience with Ravindra Jadeja till he came good.
- When MSD started playing well as a youngster for this college, there were a few people watching him. As time went by and he started playing at a higher level, the crowd started getting bigger and bigger and today a billion hearts beat for him when he takes his guard and gets ready to face the bowler. This is like the power of compounding. Discipline, dedication and patience in investing rewards the investor with the power of compounding turning millions into billions.
- MSD’s first love wanted to announce their relationship but MSD kept saying that they have a lot of time. But she passed away in a tragic accident conveying the message that we don’t have a lot of time. In fact time is a very limited resource and one must never waste time whether it is in life or in investing. The first 10 years in a 30 years investment cycle, contributes 82% of the wealth that gets created at the end of the investment period.
- MSD was trying to balance his job with cricket but realised that to success he will have to leave one of them and focus on his passion. In investing too focus or goals (in the language of investing) is what allows an investor to live through the vagaries of the market and eventually emerge successful.
- Last but not the least being cool in adverse situations is the essence of success whether it is life, game or investing. MSD showed this when he missed his flight to Agartala for the Duleep trophy match. He again displayed his cool demeanour when his career started on a miserable note. When his girl friend passed away, it hurt him badly but then he had a goal and marched on. And of course all along his career he has displayed a cool temperament. No wonder he is called Mr Cool. One of the biggest attributes of a successful investor is to be cool, very cool at all times.
Every movie leaves behind a permanent imprint in the mind which theoretical jargon based education fails to achieve.
Educate your clients through anecdotes, analogies, metaphors and stories and see how your business soars.
As MSD himself says in an ad,“देश बदल रहा है, भेष बदलो.”