Teachers Day 2018: 5 getting rich lessons to learn from best teachers
We remember them time and again by appreciating their efforts in moulding our views.
Teachers Day 2018: The Indian culture has placed 'Guru' (teachers) above God. We often have one or more teachers who leave a lasting effect on our life as well as on our thought process. They have been instrumental in shaping our life as it is today. We remember them time and again by appreciating their efforts in moulding our views. Many of us often repent for not listening to our best teachers. Today, being Teachers Day, we bring you five financial lessons all of us learn from our teachers:
1. Discipline: Best teachers are always disciplined. They value time and teaches you the same.
Financial Lesson: Discipline and time are important for everyone including investors. A disciplined and timely investment pays you a rich dividend over a period of. However, a good investment at a bad time may not bring you the same benefits. If you look at the Systematic Investment Plan (SIP), it focuses on a disciplinary investment for a certain period of time to reap rich gains.
2. Patience: You may have often noticed that a good teacher never gets annoyed. He listens to others with patience and presents his views not only with patience but also passionately.
Financial Lesson: Heard this line more often - 'Investments in stocks and mutual funds are subject to market risks'. This is where the role of patience comes in. Market experts always advise one to remain invested for a long time. If you keep patience during the market volatility, you are more likely to gain more.
3. Planning: A good teacher finishes his syllabus well and gives students ample time for revision. This is a result of planning.
Financial Lesson: Most of us think twice before investing our hard-earned money. A well-planned investment always gives you a good result.
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4. Teamwork: How many times you have taken part in group activities? A teacher always encourages students for teamwork.
Financial Lesson: If you are into any business, you cannot handle everything alone. You need a team to grow. Even if you are an investor, you need advisors, planners and Chartered Accountants to help you build a strong portfolio and save on taxes. Isn't it a teamwork?
5. Think Different: You might have come across a math problem which you failed to solve after several attempts. However, your teacher might have solved it in the easiest way possible. This is just like thinking differently and then implementing.
Financial lesson: If you think like others investors, it is more likely that you will lose your money. Warren Buffet or Rakesh Jhunjhunwala stand out as investors just because their thought process is quite different from others. To become rich, you need to stand out from the crowd and only your way of thinking can make it possible.
(With inputs from Rajeev Kumar)