Lord Krishna is the most revered Mahabharata character. Unbelievably subtle and illuminated, he played a key part in Kurukshetra's fight, tipping the odds for the righteous – the Pandavas. When closely looked at, the tactics of Lord Krishna in the struggle between the Pandavas and the Kauravas are very similar.
This is the time to use some of these strategies to administer money and fulfil all the personal investment objectives during the Janmashtami festivals that celebrate Krishna's birth.
The Basis for your financial planning needs to be laid initially. start saving early on so that you will establish a solid basis that is vital for your financial pyramid, as the top layers will lean on the base. If you start to save early, your wealth and the power to compound works on your money expand for a long time. With a tiny amount, you can always start. This is exactly how you would start with a bigger base in the Janmashtami street competition of taking curd after breaking the mud container.
Indeed, if you save a tiny saving amount in your 20's, you'll get more return than if you started saving a greater amount in the '30s, provided that both of you retire in the '60s. It also helps you overcome your inclination to splinter and get closer to attaining your Financial goals by creating a saving habit.
Throughout the war, Krishna refused to allow the Pandavas to lose sight of the Kauravas Adharma’s conquest. He continued reminding them time and time again that they did not lose focus on building Dharma by winning the war. Likewise, it is also important to have a holistic image and invest properly in your financial objectives. A goal-based investment approach helps you choose the correct tools and guarantees that you have the necessary finances.
If you plan to build a pension, your Portfolio requires equity exposure, as it is capable of producing Inflation-indexed profits in the long term. You also have to maintain the long-term investments because short-term stocks are volatile. Liquid Funds are also your best bet for creating an emergency corpus, Offering not only superior returns than a Bank Savings Account but also easy access, if required.
The next step would be to add a financial security layer to respond to situations like abrupt health problems, job losses, etc. The transitory loss of Income is replaced with a liquid emergency reserve worth six months to one year of income. Your financial route must be continuous to achieve legacy. Emergencies cannot be allowed to fall into your funds. To insure your family and yourself from death and illness, you need Term Insurance and health insurance. Just as how Lord Krishna used to be ready for all the unforeseen situations and used to work to ensure a safer livelihood for his loved ones.
In the event of a financial emergency, health insurance can help you cover costs for health treatment before and after hospitalisation. In the event of your premature death, term insurance, on the other hand, can replace your income. In your absence, this ensures your family a comfortable living.
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If you cover the levels of debt but still have time to do so, try your life with credit cards and personal loans in order to boost your happiness quotient. Spend something on yourself - such as a vacation or a car. Keep in mind the possibility of affordability. If you take a loan and fully complete your EMIs, you should have a repayment plan. Just as how Lord Krishna was well known for all his traits and how he can beat all the worst situations.
Build riches through investing in Mutual Funds, stocks, immovables, etc. Choose investments based on your expected return and tenure on investment. If required, take loans, but clear them in due course. Lending isn't always terrible. At the time of buying a house, a house loan enhances your purchasing power. If you wait until you develop funds to purchase a house, the house's price will increase by the time you set up a fund.
Arjuna was overtaken by emotion at the beginning of the Kurukshetra battle, and he even refused to fight his loved ones, including his grandfather Bhishma and his guru (Dronacharya). Krishna repeated many lines in the Bhagavad Gita to help him overcome this.
If Krishna had not aided his friend, Arjuna probably would not have fought in this conflict, which would have caused the Pandavas a huge blow. Similarly, it is necessary to wipe out emotions from Investing to obtain personal financial liberty and to fulfil all the key objectives. For example, it is important to remain patient and not leave the Market during short-term Volatility.
One infamous occurrence in the Kurukshetra war came with Yudhisthira, Pandava's eldest, speaking half-truth of the death of Ashwathama, which prompted Dronacharya to give up his arms and thereafter causing his demise. Krishna was originally the mastermind behind this as he knew that Drona could only be conquered if he is unarmed, and it may happen after hearing about his son’s demise.
A similar technique is needed in investment. For example, if you save a sustainable objective such as higher education for children, it makes little sense to remain invested in the instruments delivering secure profits that are hardly inflationary. In addition, it is good to move your investments out of stock to debt to prevent the accumulated corpus from decreasing due to market changes when you are close to an objective.
While Arjuna and Karna were equally proven warriors, the latter held Lord Indra's heavenly weapon, which was unanswered by the former. That is why Krishna, for a long time, guarded Arjuna against Karna. After Karna used the weapon on Ghatotkacha, Bhima's son, who assured Arjuna's total protection, Krishna brought him and his biggest enemies face-to-face.
The investment strategies are no different. Inappropriate risks must be prevented, and your portfolio must also be exposed to volatility. For instance, while small-cap can provide greater returns compared to large or medium-sized caps, they are riskier. If you have the stomach to face loss, you should invest in it exclusively. Otherwise, avoiding them is in your best interest. Also, Capital protection should be the objective, instead of appreciation, when you are set to achieve a goal.
As is apparent, Krishna's tactics in the epic conflict have key investment lessons. After that, you can help to manage your finances and ensure that you tackle every objective of your life. Cautiously. It allows you to create a heritage for the future at the same time.
This refers to the country in which your aspirations were fulfilled, pension secured, and debt-free assets established. It is time for you to break the metaphorical handi and enjoy the refreshments of your life. You will enjoy a calm retirement and transfer these debt-free assets to your offspring if you have strived your whole life to develop riches and clear all obligations. You also have a clean history of credit. In his experiences, Lord Krishna also used to maintain his calm always even after facing off the bigger evils and knowing what next is waiting for him.
Even when conditions reach your nerves, being level headed is one of Shrimad Bhagwad Gita's most vital precepts — the heavenly Song. This is also true in the financial sphere. If something goes bad and we face a substantial loss, we have to learn how to stay cool and to carry things along in their steps so that external events undermine our inner balance. Over time, such persistence leads to intuitive intelligence, which might have astonishing effects if used in our financial judgments!
As far as finance is concerned, concerns and apprehensions often carry us away. In the trading sector or in general investment, this is especially the case because every decision we take is founded somewhere in fear of loss or fear of wrong choices. But in pursuit of the duty, as Bhagwad Gita says, the inherent faith and the positive vibration of the mind are the sources of fearlessness.
Moreover, Lord Krishna also used to fight all the evils and monsters on his own while being fearless when he took any risk, and that is what you exactly need to be following. Once we have stopped our anxieties and realised that the majority of our fears are imagined, we will progressively be able to make solid financial or investment decisions if needed.
The dynamics of the market are often marked by volatility and distractive speculation. Even seasoned investors are sometimes impatient in such an environment. But it is where Lord Krishna's teachings as Bhagwad Gita come to our salvation. Patience, or the quality of deliberate activity with a smooth mental framework, is one of the nicest traits that every person may imagine. The patience in choosing our market selections and investing modes instead of jumping the weapon can let us constantly construct our optimal financial reserves.
True resilience is that you are honest with yourself and others. One key element that needs to be applied to our market understanding is the resilience or the quality of keeping the field even if everything seems against us. Understanding grows as real and transparent measures are taken. Such measures will also lead us closer to our intended capital goals when we take financial judgments with an open and clear head and without any restrictive thinking or complexities.
Janmashtami is a special occasion and a highly celebrated festival across India. With the occurrence of the festival, it is also essential to learn some good things and apply them to your life. These are some very effective and useful financial lessons that you must learn from Janmashtmi to have a successful and secure financial life.
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