Let us assume that we enrol at a gym very enthusiastically to cause dramatic changes in our physical well being. Showing up at the at the gym at 7 am every morning which itself might be a noteworthy feat for many and is working out.
What is the purpose of going to the gym every day? Lose weight? Gain weight? Just remain fit? Build a better mental wellbeing? Socialising? Unless we define the objective of going to the gym, we won’t be able to fit the right work out for ourselves and might become slaves to peer pressure or whatever we are told to do or watch and do.
Much like our physical well being, financial wellbeing is also treated the same way, where we make ad hoc investments with the purpose of keeping the money away, however, without a plan around it.
Like all fitness enthusiasts would vouch, no effort can manifest into success unless there’s a goal attached to it. Investing without a goal is like running in circles without really reaching any place. However, goal-setting is the easy bit – all of us have and can think of a goal.
Here’s the tricky bit, the key to progress is discipline, to revisit this plan often enough to know If we are headed in the right direction and make all possible efforts to keep going.
The stone here is – Discipline
Successful investing is hard. Not complicated, just hard. It’s hard because for the most part, we are wired to keep shifting focus on the next shiny object and react to minor events & news. It is important to stay the course. However, that comes into the picture only after we have set the foundation. To repeatedly do the right thing towards your investments is bound to yield successful results.
“One of those lessons is that you aren’t in charge of everything. Do what you can, and then relax.”
― Carl Richards, The Behavior Gap
Carl Richards couldn’t have said it better, to just consistently build your savings and relax.
There is no rocket science involved in the investment below, just the simplicity of defining a goal, choosing a systematic investment as plan to invest and repeating this over the next 20 years.
[table id=2 /]
A disciplined investment of at least INR 10,000 per month can yield you a mini-fortune when you need it the most. Sure, it may be difficult now, but with your income increased year over year, the amount you commit now will continue to diminish as a fraction of your income.
With real determination, if you step-up your investment in line with income increments, the result is bound to astonish you.
You are the master of your investments and should certainly ensure that you sail them through all the storms that might arise.
