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7 investment mantras you can learn this IPL season of cricket

7 investment mantras you can learn this IPL season of cricket

Open any news site or newspaper and you will find at least one page dedicated to the new players who are proving their mettle this season of the Indian Premier League (IPL). After all, who can ignore the nail-biting moments of Arshdeep Singh breaking tree stumps twice or Arjun Tendulkar, son of former batsman Sachin Tendulkar, making his debut?

The adrenaline rush of batsmen rushing between the wickets to score extra runs is enough to send our hearts racing. Even the most ardent financial influencers discussed cricket more than personal financial strategies on their social media handles.

While finance can’t be treated like a game, nor can it be labeled as quickly as cricket, you certainly can’t ignore the important investment lessons that cricket teaches. The ‘Greatest of All Time’ Sachin Tendulkar is much like the financial genius Warren Buffett.

Let’s see how simple lessons from cricket are synonymous with investment lessons.

Check the field before the match starts

Cricketers don’t just decide to play cricket. They decide on a strategy on who will bat first, second in line to last man standing based on ground conditions. Ballers are instructed and fielders are positioned accordingly. This also applies to investing. You need to check how much money you need to invest to secure your financial goals in the future. For this you need to be well aware of your income, savings and essential expenses.

Start early in life

The first six overs in an IPL match are the most crucial, as batsmen hit the ground to score more runs. IPL aficionados identify this as the “power play” in which their favorite batsmen rain sixes and fours into the stadium. Six overs are over, and play comes to a halt, in which the batsmen are forced to be content with singles and may hit a sporadic “sixer” here and there. Investing is so similar to cricket where you have to start early. This means that you should start planning your investments on the day you receive your first salary package.

Decide at what age you want to retire and how much corpus you want to have on hand to secure your retirement expenses. Unless you start early in life, there’s no way you’ll be able to achieve your financial goals on time.

More risk equals more runs

When you know why RCB all-rounder Glenn Maxwell calls Virat Kohli the “GOAT of IPL,” you automatically realize the risk Kohli takes to make runs off every ball he hits with his bat. stumped, or become exhausted while playing. Investing also carries some similar risks of putting the money into the wrong types of stocks or allocating it to non-performing mutual funds or overinvesting in fixed income plans or completely ignoring the element of safety in government-sponsored schemes such as the provident funds, Sukanya Samriddhi Scheme, National Pension Scheme (NPS), etc. But risk equals return, hence you must be prepared to take calculated risks when making decisions about your investments. help protect your capital but accumulate more money in the long run.

Be persistent in your approach

Consistency is key to winning any game, big or small. No player can think of scoring a century and contributing nothing to the next game. Every cricketer has to contribute big or small to every game he plays. The same goes for your investment strategy. You must invest consistently to ensure that your investments are regular and not sporadic to build wealth over time. This will help you achieve your big goals while having a small impact on your monthly expenses.

Let them say what they want

“Let the haters hate” is the most sensible piece of advice seniors often give to young budding cricketers who are often criticized for their unconventional playing tactics or non-compliant playing strategies. In times like these, cricketers should not be distracted.

Investing is a lot like cricket where other people’s opinions don’t matter until you are sure of what you are doing. Remember it is your money that is at stake so you should allocate according to your risk appetite and not rely too much on what fin influencers share or suggest on their social media handles or comments from your peers.

Work on a good combination

You will never see the same set of batsmen play in the same order or bowlers dishing out similar types of pitches. Diversification is important in cricket and therefore also in investing. You cannot rely on just one type of investment to achieve financial independence. Watch a successful cricket team and you will see how they keep rotating and rearranging their players according to the pitch and opponent players.

You need to adjust your investments accordingly by switching between stocks, debt funds, fixed income instruments, gold, real estate and more often. However, churning too much can cause you to incur unwarranted losses, depriving you of the desired returns.

A good coach can work wonders

No matter how experienced the players are, you can’t ignore the benefits of having a good coach at the helm. A good coach is someone who has his eyes and ears on you, who realizes your potential and who knows how to push you to reach the maximum. The same applies to investing, where you should resort to guidance from a personal financial advisor. Financial planners and advisors advise clients on wealth management and other aspects of their personal finances and make plans or suggest particular investment products and vehicles that suit their needs.

Always check that the financial advisor you choose meets fiduciary standards, the legal requirements that they act in your best interests and disclose any conflicts of interest.

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