New Year Resolutions For 2021 in Finance and Fitness

31 Dec 2020by Aditya Anand Bapat

New Year Resolutions For 2021 in Finance and Fitness

As the year 2020 draws to a close (finally!!), it’s time to welcome the New Year 2021 and the third decade of the century with change, hope and a new way of living and working. New Year Resolutions will be made once again as we step into 2021. Among the most common New Year resolutions is that of fitness. Parks and service roads will be filled with people planning to shed that extra flab – at least for the first few days of January!

The year 2020 has taught one and all the importance of physical fitness and financial independence. We are sure you will make a resolution for improving your physical fitness, so why shouldn’t financial fitness (independence) be another resolution? Both are extremely important and surprisingly, both have some commonalities in how to achieve them. So let’s get started…………..flexing your muscles and flaunting your wealth creation journey (privately!)

There is no shortcut to health or wealth

You can’t get Disha Patani’s perfect body or Tiger Shroff’s rippling muscles by just ogling over their posters or videos. You’ve got to sweat it out yourself to develop that kind of fitness. Select whatever approach you want – pump iron, swim, run long distances, cycle challenging terrains or anything that gives you a kick. The key is to be regular at it. Don’t expect overnight miracles; they are neither possible nor healthy. Give your best shot every day, and watch the miracle unfold gradually.

It’s not much different with your portfolio investments either. You won’t make money by merely admiring star investors’ portfolios. You’ve got to work towards building one yourself. And it takes time. You’ve got to study businesses, talk to managements, customers, suppliers, dealers, fellow analysts, do channel checks, study companys’ financials and check corporate governance issues (if any). There is a lot of hard work that goes behind building a portfolio of stocks that compound your wealth year after year. There’s no shortcut here.

Consistency, patience and perseverance

Fitness is not a weekend job, nor is it one dimensional. You’ve to exercise regularly, regulate your diet, get adequate sleep, handle stress effectively and juggle between work and personal commitments. None of these can take a backseat; not even for a while. You have to be consistent with your efforts, patient with the results and persevere despite obstacles.

Your equity portfolio also demands a regular regimen of reading, researching and talking. It’s not every day that you come across a stock that qualifies as a multibagger. If your portfolio does not underperform the benchmark indices, you’ve made a start. If you can beat the index, you’re improving; if you can do that year after year, you’ve become a pro. If your portfolio has several multibaggers, you’re a genius. The whole journey takes time, effort and commitment from your end, but the results will be gratifying.

Don’t fall in for “instant” results

There will always be miracle drugs available for instant boosting of sports performance or muscle growth. Don’t fall for any of these “miracles”. They are dangerous and will only ruin your health over the longer term. Real fitness comes from actual practice and actual exercise; not by taking shortcuts.

Similarly, wealth creation doesn’t happen by following “sure-shot tips” or “momentum chasing” or by running after “penny stocks”. It is built by giving time to your investments. As a famous saying goes, “Time in the market is more important than timing the market”.

There will be disruptions in your new year resolutions, don’t worry

While you will stick to your fitness plan as much as possible, there will be days when things will go “off-plan”. This could happen due to health reasons, personal/professional commitments or numerous other reasons. It’s okay, and it’s expected. The key is to get back to your regimen as soon as possible.

You may need to withdraw some of your equity investments, which were meant for the long term, for unforeseen reasons. Secondly, you may not be able to invest for a few months due to liquidity demands elsewhere. The key is to get back to the investing mode as soon as things are back to normal. As Abraham Lincoln famously said, “It’s not about how many times you fall, but how many times you get back up”.

To fulfill your new year resolutions and help you reach your goal faster, hire a coach

To fulfill your new year resolutions, you indeed have to do all the heavy lifting yourself. However, getting an expert to coach you can help a lot. I can personally vouch for this – as an aspiring marathoner a decade back. My performance picked up as soon as I joined a running group trained by an expert coach. There are other benefits as well – you meet new people, learn from their experiences and make new friends.

In your wealth creation journey through equity, you have to be vigilant regarding your investments and take the financial risk yourself. However, you can always hire experts (like us at Research and Ranking) to handhold you in this journey. We don’t promise miracles or overnight success. Still, we do promise a disciplined and effective way of long term wealth creation!!

Click here to start your journey of wealth creation now by investing in a portfolio of 20-25 multibagger stocks chosen after detailed-research by our team of experts.

 

 

 

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