My father like most fathers was - FIRST & BEST CAREER COUNCILLOR!
He like all fathers was neither to hold me back nor a sail to take me to my goal. He was a guiding light who showed me the path with his life long lessons.
HAGGLING OVER POCKET MONEY :
My father was a master negotiator when it came to
increasing my pocket money. Even when I used to justify the reason for
increasing my pocket money, he would make me do extra chores.
By making me haggle for my pocket money, my father was
teaching me the value of money. He was showing me that money doesn't grow on
trees and that I must work for it. The deliberate delay in enhancing the pocket
money was only to make me learn not only how to budget and plan the expense
for the entire month but also the art of Negotiation!
Haggling over pocket money meant I learned to MANAGE the
small money I was given throughout the month. This made me PLAN for my entire
month's expenses with that so-called tiny amount.
This art of Negotiating helped me when I had to buy my car
and a whole lot of deals! It has also helped me make informed decisions, avoid
impulsive spending, and cultivate a healthy relationship with money.
SNAKES & LADDER GAME:
I remember how through playing the Snakes and Ladder games,
he made me understand to take disappointments and hurdles in stride and
continue to focus on the goal. Especially when I used to land on Snake and
slide really down to the bottom, he reminded me that sometimes
you do land on a ladder and climb up very fast! He said when
the market crashes, just stick to your monthly sips and hold on to your investments, and when the tide turns, markets do go up and so do your investments!
His mantra is “Keep playing, you can eventually make it to the finish line”.
By investing for the long
term, not panicking when the market takes a dip, diversifying your investments,
and rebalancing your portfolio regularly, you can build a strong financial
future for yourself and your family. Stock markets will have their
ups and downs but by not getting distracted and continuing to keep investing
regularly and staying invested during market falls, the GAINS will be huge, and YOU WILL REACH YOUR
INTENDED GOAL.
My father’s guidance has helped me develop a calm and rational mindset toward
investments, knowing that the journey to wealth creation may have bumps and
detours. By coping with challenges and keeping my eye on the destination, I
have built the strength and endurance necessary to traverse the investment
terrain and achieve long-term financial prosperity.
There were instances when the market experienced downturns,
causing my investments to diminish in value. However, I held steadfast to the
teachings of my father, keeping my focus on my long-term objectives. Ultimately
the markets do recover and so did my investments helping me to accomplish my financial goals and create a stable
financial future for myself and my family.
BUYING A
BICYCLE AND THE LESSONS FROM IT :
Once
when I insisted that my father get me a bicycle. He said, “Okay… you start putting Rs.5 in pygmy every month and I
will put Rs.50 in the same pygmy only if YOU save”.
I took up the challenge
excitedly! It wasn’t easy but the excitement of a bicycle was too tempting, and
I continued with dogged determination. And yes, after 12 months, I finally got
my dream bicycle with 10 times matching contribution from my father. Little did I know at the time, this experience
would be my gateway to comprehending the tremendous power of monthly systematic
investment plans (SIPs) and compounding.
This bicycle purchase gave 2 invaluable lessons.
One of the DISCIPLINE of
investing saving and investing regularly.
Two, the Power
of Compounding!
It became a
fundamental pillar of my financial literacy, enabling me to embrace the habit
of disciplined saving and wise investing. Recognizing the potential of monthly
SIPs and compounding, I embarked on a journey of wealth creation, realizing the
importance of staying committed to regular contributions and allowing time to
work its magic.
Through this
transformative experience, I grasped the essence of building wealth steadily
and methodically. It taught me that even small, consistent contributions can
pave the way for significant financial growth over time.
WORK-LIFE BALANCE
I have seen how hardworking my father was in his office. At
his workplace, my father exemplified diligence and a strong work ethic.
What truly set my father apart was his ability to switch gears once he
stepped inside our home. he would spend time with everyone and enjoy his
favorite cricket match highlights.
He always
made time for his family and friends and enjoyed the simple pleasures of life.
He would come home from work and spend quality time with everyone, listening to
their stories, sharing his advice, and making them laugh. He would also relax
by watching his favorite cricket match highlights, cheering for his
team, and commenting on the players’ performance.
He taught me that work is important, but so is life. He taught
me that you can be successful in your career without sacrificing your happiness
or your relationships. He taught me that you can have both work and life
balance if you manage your time well, set your priorities right, and appreciate
what you have.
The work-life balance he maintained encouraged me to adapt
the same and this is what has helped me have a life truly enjoyable.
EXPERT GUIDANCE IS A MUST:
Even though my father was excellent in tax matters, I have
seen how many of our relatives and friends used to take his advice in tax
matters even though he was not a Chartered accountant.
But when it came to his own tax filing and other tax-related matters, he would
invariably reach out to our Chartered Accountant uncle.
He used to say EXPERTS ARE THERE FOR A REASON.
He used to say “They have the knowledge and experience to help you make
better decisions. Don’t do everything yourself and end up messing”.
It is difficult for
even the most knowledgeable person to keep up with all the latest changes in
tax laws. A CA has access to up-to-date information and resources, and they can
help you to ensure that you are compliant with the latest tax laws.
My father's reliance on a CA exemplifies the significance
of seeking specialized knowledge. It is wise to consult professionals who
possess expertise in specific areas.
Collaborating with experts can
help us make informed decisions, avoid potential pitfalls, and maximize our
financial outcomes.
WINNING THE CARROM GAME!
My father never let me win my favorite carrom games.
He beat time and time again showing no mercy.
When I was finally able to beat him when I was about 8
years, it was the most relishing moment in my life and the sweetest ever.
It was that hard-earned
Yes. father made sure I learn that
it’s not easy in life to win and if you keep persisting and keep doing your
hard work, you will get rewarded on day. By consistently challenging
me and not letting me win easily, he taught me to embrace setbacks and keep
striving for success. My father always adapted his
game according to the situation. He changed his tactics according to the
position of the carrom men, the score, and the opponent. He also adjusted his
game according to the condition of the board, the powder, and the striker. He
taught me the importance of being flexible and adaptable in wealth creation.
NEVER GIVE UP & NO SHORT CUT TO SUCCESS ...
was the lesson.
it was my father who made me start loving numbers in spite
of my fear of Maths.
He showed me the power of compounding by showing the
investments he had made in mutual funds and companies in the stock markets
The small, tiny investments had ballooned and the dividends
received annual was more than the investments made. It made me realise the POWER OF LONG-TERM
INVESTING & WHY COMPOUNDING IS CALLED THE 8TH WONDER OF THE WORLD
While my father did appear to be focused on practical
matters, his underlying motive was to provide me with a stable and secure
financial future.
My father was a harmonious blend of imparting practical
financial knowledge and nurturing emotional intelligence guiding me towards a
prosperous financial journey.
So, on this Father's Day, I want to thank my father Matrubai M.N.SHANKAR for everything he did for me. I love you, Dad. And to all the fathers out there, I want to say thank you. Thank you for being there for us, for teaching us, and for loving us. We appreciate everything you do.
THANK YOU VERY MUCH DEAREST FATHER
Love you very much!!
Srikanth Matrubai
Author – Don’t Retire Rich
& Wealth Of Wisdom
All the best,
Regards,
Srikanth Matrubai
https://t.me/joinchat/AAAAAELl4KUnaJzi-JJlDg/
Nice article sir.
ReplyDeleteThanks for sharing