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Investing Lessons To Learn This Diwali!

Oct-31-2018Blog by – Mr. Ashish AjmeraRead Time: 3 Min.Word Count: 745235Investing Lessons To Learn This Diwali!
Festive season is around the corner. Diwali, the festival of lights is about to fill the mood with warmth and kindness. Diwali celebrations revolve around Goddess Lakshmi, the idol of wealth and therefore it is important to learn the wealth management and investing lessons it can offer. The business community in India has a special connection with the festival and domestic marketplaces tend to see a rush in activities this time around. Diwali is also considered a particularly auspicious time to acquire new possessions. Even the local stock markets tend to participate in the Diwali festivities and remain open during non-market hours for a special Muhurat trading session on the evening of Lakshmipujan. However, the festival is not just about celebrations and shopping and offers some very insightful investing lessons. Here’s what you can learn as an investor this Diwali.

Planning ahead: Planning is the essence of success. You tend to think about buying new clothes, household stuff, gifts etc before Diwali. This entails a lot of planning and also needs a careful allocation of funds.  A good start is necessary for all endeavors in life and investing is no exception to it. It is important to look ahead and list out the critical factors which warrant your attention in order to plan for your investments. A financial plan would be successful only if it takes into consideration the future needs of you and your family. You can always take the help of a financial planner or contact a good online trading broker to get the much needed advice in this regard.

Safety first: Diwali is the ultimate time to get out light up the firecrackers. Everyone, including the elders to the kids, love to burst firecrackers. However, we all take necessary precautions while doing the same. This is a very critical lesson for your investments as well. Be sure about the safety element in your portfolio. Always maintain your stock portfolio as diversified as possible. Do not buy a stock based on tips or just because someone else has bought it. Pay attention to add enough stable counters with a good track record and popular brands to add a secure edge to your portfolio.

Learning to let go: We all tend to clean up our houses before the festivities and let out the possessions we no longer use. We also tend to replace or discard old and worn out items. Similar approach is needed when it comes to investments as well. From time to time, assess the performance of your investments and exit from stocks which are no longer fitting in the scheme of your existing portfolio. This simply means that the investment idea has run its course and needs to be replaced with a new and more efficient one. Do not get psychologically attached to your financial holdings and learn to let go at the right time.

Think and reflect: Along with the joys and the celebrations, Diwali is also a time to think and reflect upon the year gone by. Financial matters deserve a much needed attention when you look back at the time gone by. Remember that wisdom comes from a quest to learn on a perpetual basis. Keep a note of how your investment decisions have turned. Investment plans should always be focused on important goals, like buying a home, retirement, education etc. Think and analyze how your investments are doing and also bring into consideration any changes regarding your financial goals or aspirations by exploring new Diwali investment ideas. Also think about wisely investing a reasonable part of Diwali bonuses to strengthen your portfolio.

Health is wealth: Staying healthy and hearty remains the key for a long and blissful life. A balanced mind can make up investing decisions in the most efficient manner and would also ensure that there are no emotional biases to your money making decisions. Diwali is all about wishing good health and wealth to everyone around and it is important to understand the deeper significance of those wishes.

Conclusion:

Let the glitz and glam of the Diwali festivities surround you and your family members as you rejoice and have a good time. However, keep in mind that these jovial times are a good reminder to take stock of your finances and make a pledge to embark upon the continued journey called life with renewed vigor and strength. Plan and think to build long term investments that offer an edge for you and your family members.

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