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The little master blaster has many strengths, but if we were to pick just one, it would be his discipline. Throughout his career, despite the number of injuries or ups and downs in his form, Sachin consistently maintained his self-confidence, practised self-control, and had faith in the process. Similar to this, maintaining discipline in financial planning is challenging but never impossible. There may be several ways to swiftly accumulate wealth, but it won’t last, though. You can only amass wealth by exercising discipline with your money.
Investing early: At the tender age of 11, Sachin held his bat for the very first time. In 1989, at the age of 16, Sachin Tendulkar made his India debut. His journey was not a bed of roses. There were numerous obstacles, that came his way. However, starting at an early age gave Sachin the opportunity to sharpen his skills. Although, it was a bumpy ride, who knew that this young man, would one day become the best batsman to grace the cricket field? However, starting early in his adolescence gave Sachin more time to comprehend his game, his advantages and disadvantages, and thereafter improve.
Similarly, when it comes to financial planning, you should start early. The advice to start saving early is something we constantly hear. Beginning early not only gives you more time to learn from your mistakes but also enables you to build wealth without experiencing too much financial hardship. When you begin early you get enough time to brush your skills. Whether money-making or scoring runs, everything requires time, perseverance, and experience. Investing early will only allow you to widen your financial insights, your perspective of the market, and your financial goals.
Retirement Planning: After playing for his country over the course of 24 years, Sachin understood when to put his gloves away. He knew when to leave the scene with grace. Sachin planned his superannuation since he was the most knowledgeable about his health and mind. In addition, he was even aware of the current condition of the Indian cricket team. About two years after India won the World Cup 2011, he announced his retirement on November 16, 2013. Knowing when to retire is equally significant in your personal financial journey. You can’t hold onto a stock if it is not yielding the expected returns.
Although retiring at the correct moment is crucial, it is also important to consider your present and future obligations before deciding to retire. Keeping in mind that you shouldn’t emulate other people because everyone’s life has a unique journey
Staying focussed: Sachin Tendulkar’s emphasis on letting his deeds speak for themselves set him apart from most other cricketers. Sachin never had time to look back at the fast bowler who defeated him or at the cricketers who tried to sledge him. He played his own innings and never deviated from his focus. He knew that cricket is an aggressive game and has its own set of highs and lows.
The same goes for financial planning; we must never lose sight of our financial objectives and refrain from letting our emotions dictate our course of action. Life isn’t the same at all times. There are both good and bad moments. It’s important for us to adhere to our financial endeavours in such moments of emotional distress. Regardless of the state of the economy, the ups and downs of the stock market, etc., one shouldn’t lose concentration and dedication.
Having a plan post-retirement: All of this is in addition to the various endorsement-related money he makes. This extensive diversification has been essential to leading a stress-free financial life after retirement. In a similar vein, it is crucial to start planning for retirement years in advance rather than waiting until we are close to it.
Having a post-retirement plan is always crucial. Sachin built a chain of fine-dining restaurants when he was still playing because he loved eating. In addition, he has made investments in wide companies like Smartron India, Smash Entertainment, JetSynthesys, and Spinny, among others.
