Saving and Investment for better Future:As we celebrate Ganesh Chaturthi in honour of Lord Ganesha, the destroyer of obstacles, we understand the importance of making an auspicious beginning in all aspects of life. Just as Lord Ganesha removes all obstacles and paves the way for success, we too can plan for a financially secure future by making wise investment and savings decisions – starting with a Systematic Investment Plan (SIP) in mutual funds.
The Power of Systematic Investing: A Good Start
Lord Ganesha holds a special place in the Hindu tradition. Lord Ganesha is a symbol of wisdom and foresight and is worshipped for his ability to remove all ‘vighnas’ or obstacles from our lives.
Lack of adequate finances is one of the major ‘Vivah’ or obstacles faced by many people. We must understand that financial constraints are often the result of not following financial discipline. We need to overcome these financial constraints by making wise investment choices.
First of all, we need to understand that savings alone do not guarantee financial security, as inflation is constantly reducing the value of our savings. If we want to accumulate a large fund for the future or say create wealth and secure our future financially, then we need to invest our savings in the right way.
Rather than investing on tips or thinking of making quick profits through speculative trading, it is wise to go for a SIP in mutual funds. This strategy ensures that your savings are put to use in a way that is both efficient and effective. Systematic Investment Plans (SIPs) in mutual funds have the qualities of efficiency and efficiency i.e. goal-oriented. SIPs allow you to invest a fixed amount regularly and grow your wealth over time, regardless of market conditions. This disciplined way of investing helps overcome the hurdles of market volatility and emotional investment decisions, thereby paving the way for financial stability and growth.
Also read: RD: You can invest in post office like SIP, this much maturity fund will be created on monthly investment of Rs 5000
Listening to the advice of a financial advisor
Lord Ganesha’s big ears teach us to listen carefully to the advice of others. In the world of finance, this could mean paying attention to good financial advice or consulting a qualified financial planner/SEBI registered financial advisor. A financial advisor can help deal with the complexities associated with investing, as well as ensure that your money is managed wisely and in line with long-term goals.
Learn from mistakes
Ganesha’s big head symbolizes wisdom and education. In terms of investing, it means the ability to learn from past mistakes and become a wise investor. Many investors have suffered losses due to ill-considered decisions, lack of discipline, or taking too much or too little risk. However, instead of getting discouraged, consider these experiences as valuable lessons that show us the path to success.
Life Lessons
If we look at the idol of Ganapati, we often see that his left tooth is broken. According to mythology, we understand that Maharishi Veda Vyasa, who wrote the Mahabharata, wanted someone to write this story as it came out of his mind. Writing at such a fast speed was not possible for anyone on earth. Therefore, he sought help from Lord Ganesha. Lord Ganesha agreed to help and started writing using an ordinary pen. However, the pen broke in the middle of the article.
Ganesha did not want to stop, so he broke his tooth and continued writing with the tip of the broken tooth instead. Ganesha’s dedication and commitment gave the Hindu tradition an epic text. However, with our investments, while we start our investment journey with enthusiasm, as soon as the market turns volatile or falls, we tend to stop our SIPs and even think of encashing our investments prematurely.
Also read: LIC MF SIP: LIC introduced 3 schemes 30 years ago, those who deposited only 2000 rupees monthly got 50 to 60 lakh rupees
Consistency and discipline in investing can be enforced through SIP (Systematic Investment Plan). SIP can help you accumulate Rs 1 crore in 20 years by investing just Rs 10,000 every month (assuming an annualized return of 13%). With the same rate of return, a monthly SIP of Rs 45,000 can accumulate Rs 1 crore in just 10 years.
So start your SIP today, as a delay of a few years can cost you big and result in a much smaller corpus compared to those who started investing early. This Ganesh Chaturthi, let us honour Lord Ganesha, the destroyer of obstacles, by resolving to break our bad financial habits and embrace systematic investing. By starting now – regardless of our current circumstances – and allowing the power of compounding to work in our favour, we can pave the way for success and prosperity, ultimately creating a brighter, financially secure future.
