5 Financial planning lessons from Dhoni

5 Financial planning lessons from Dhoni

5 Financial planning lessons from Dhoni

Dhoni or Thala or MSD, numerous names he had got in the last one decade. When you come down to chennai the love and affection he had got from these people is not comparable. He himself acknowledged in several interviews during the month of IPL’s. He is an enigma. All due to the CSK connection.

“Dhoni is the best captain i have played under “ – Sachin

“If Dhoni lays till the end, one thing is for sure…He will make the team win.” – Harsha Bhogle

Above is the words of two legends one in cricket and one in commentary. There are numerous others words spoken about Dhoni and am one of the huge fan of Dhoni. Next only to Sachin.

So below are the financial planning lessons, you can learn from this legend,   

  1. Work hard and Smart
  2. Invest on yourself
  3. Patience
  4. No bias
  5. Clear Goals
  1. Work hard and smart

When it comes to working hard, he is the number one. He had mastered the art of hitting six from no where by practising for very long time in nets. His helicopter shot is one such example, where he had mastered it by playing number of times in net. He also knew his strengths and play to it to the core. He never hits all bowlers for sixes and play those whom he is comfortable with. This is playing smart and targeting bowlers for scoring the maximum in an over. He had done it over and over again in several matches.

In your life, it is all about working hard for money. Once you are able to earn comfortably, it is all about investing which is playing smart with money. Your money should work hard for you and that can be done only when you choose the right investment products for your life.

2) Invest on yourself

Are you spending time on yourself and with your loved ones ?

He is the best example of investing time on himself and in his family. He had spent time on his passion of driving motor cycles and cars. He owns up a lot of them in his home town of Ranchi. He was so sure of a player that he has selected him for IPL match and he served the purpose. This was hailed by the people who worked with him in selection process. This cannot be possible unless he knows in and out about the game.

In your life, are you spending time before investing in any product ?

Are you analysing if that product is suitable for your goals ?

Investing based on someone advice and playing the blame game is not going to help in your life. Choose products based on your need. Get to know about everything from the financial advisor and then invest.

3) Patience

Best example of patience is MSD. Yes, in 2019 IPL he stuck with Watson though he was never able to accelerate during power play overs. Finally in one of the match he not only scored a century but also made sure the team crosses the line. HE openly acknowledged Dhoni for his captaincy and his belief on him.

Even in investing it is all about being patience and sticking with the product. Equity requires time line and following the basics till you achieve it. Only virtue which will help in creating wealth in Patience.

4) No bias

When it comes to differentiating between belief and bias, you can look at him. When he was ready to retire he just did it at the middle of the test series. He just needs to complete 2 matches to become a player with 100 test matches. Yet he have up captaincy and his retirement from test matches. He wasn’t looking at history or personal records to prove it to anyone. No one can even come closer to him.

In investing, you should be able to identify your biases and take actions accordingly. You may stick with a particular stock and hope that it will come up. It may never return to its original highs. Best example is Gammon infra, Vakrange, kingfisher airlines etc, people who had went into these stocks with the bias of buying at lower levels had locked up their amount. They were never able to get their money back.

You may invest in fixed deposits or in insurance products just because you are biased. You may not even be aware about this bias.

5) Clear Goals

When he quit test cricket, he had made sure that he will play til next world cup 2019. All the side talks were put to rest. No one was able to question his position just because he worked hard for it and also made sure he is the best in the world. Either T20 or one day internationals, he did the job of wicket keeper as well as the batsmen. His goals were clear and he just played one game at a time to make sure he is playing for India in world cup 2019.

Are you having clear financial goals in your life ?

Do you want to accumulate money for your kids education, for your retirement, for your kids marriage etc ?

Do you have plans to achieve all your financial goals ?

Unless you have written down plans and strive for it, it is difficult to make it happen. It is not only about positive mindset, it is also about being in action to achieve those goals. These plans will make you to work hard for it.

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