One of the greatest epics in Hindu mythology, the Mahabharata, is well known for its valuable lessons on life, relations, and success.
Describing the war between the Kauravas and the Pandavas; the good and the evil, the Mahabharata also offers few investing lessons;
Below are few investment tips you can learn from the Mahabharata:
Your ‘Divyastra’ is knowledge:
Before the actual battle of Mahabharata, all three Arjuna, Bheema and Yudhishthira chose the difficult journey to obtain Divyastras, strength and strategic wisdom. Arjuna continued learning various skills all his life. In order to learn and gain more, you need to learn more. Knowledge about investing helps in growing your investments.Unfortunately, many people are unaware of the various investment options available to accumulate wealth. Similarly, the inadequacy of knowledge of unit linked insurance plans in India acts as a barrier to achieving one’s goals or accumulating wealth. Complete ‘knowledge’ equivalent to a ‘Divyastra’ that may help in achieving your financial goals and securing the future of your loved ones.
Planning for financial goals:
During a training session, Dronacharya gave young princes the task to shoot at a bird’s eye from distance. While everyone was distracted seeing the bird, trees and the ground, all Arjun could see was the bird’s eye. Hence, he shot down the bird with a single arrow. Just like that, in order to achieve your financial goals, you need to identify, plan and stick to executing your financial goal. At times, you may need to even need to ignore the market’s instability and give your investment enough time to grow. It is also advisable to identify the type of fund that is debt or equity funds according to the time horizon of your goals. You need to stay away from temptations, be focused and not panic during short-term volatilities.
Avoid following things blindly:
Abhimanyu’s partial knowledge of the maze in the battlefield got him killed. This was because he entered the maze solely and didn’t know how to exit the same. Similarly, when it comes to investment, you may tend to act without prior thinking due to sudden panics during market volatility. The lack of knowledge and patience may lead you investing in instruments that may not be suitable for you. Before investing in any scheme, you should read all the details thoroughly.
The simpler, the better:
Shakuni was an expert at the game of dice. He conspired to call on Pandavas and then helped Duryodhana win the game of gambling against them. Yudhistra lost his kingdom, assets, his brothers and wife. On being restored their wealth by Dhritarashtra, they again lost everything in the second round and were sent to exile for 13 years. In the investment scenario, if you are unable to identify the risk and returns then it is advisable that you keep it simple. Avoid getting attracted to complex investment options. Try to create a balance between safe and market linked investment options.