- Ganesha is the God of wisdom and a treasure trove of hidden financial knowledge
- God’s large head symbolises long-term holistic thinking while investing
- Modak, God’s favourite offering, signifies benefits of mutual funds
- Different parts of Ganesha’s face have several important connotations
India is a land of festivals. A plethora of festivals are celebrated in different regions of the country throughout the year. Every city has wholeheartedly accepted a festival that best reflects its attributes. Being the financial capital of the country, Mumbai has made the god of wisdom and prosperity—Ganesha—its own. Also known as ‘Vighnaharta’ or the remover of troubles, the elephant God can give you a few lessons to steer clear of financial troubles.
1) Large Head: Think Big
Ganesha is known as the lord of wisdom and the wise always have the larger picture in mind. Financial stability cannot be achieved in a few month or years, it requires long-term planning. Sure, you can start by preparing a short-term goal but it must be backed by medium-term and a long-term financial goals. The financial goals should align with your income, capacity to save and risk profile. Identify the investment avenues that can help you in achieving the financial target. Don’t be excessively fixated on the returns, rather try to optimize your investments. Take a holistic view of the investment process and balance the returns with the associated risk.
2) Large Ears: Listen to Advisors
Lord Ganesha has large ears signifying the importance of listening to the right people. At a time when the internet and electronic media is awash with financial tips and information, the importance of professional financial planners cannot be understated. Take the help of independent financial advisors rather than relying on random information on the internet. A financial planner may help in chalking out a long-term investment plan according to your financial goal and risk tolerance.
3) Modak: Benefits of investing in Mutual Funds
The favourite sweet of the ‘Siddhivinayaka’ is distributed as ‘prasada’ whenever the lord is worshipped. The benefits of a successful investment can match the sweetness of the modak. A calibrated and balanced effort is required to have a successful investment journey. Investing in mutual funds rather than direct exposure to financial assets could reduce market-related risks. Professional and adequately experienced fund managers handle the corpus collected through mutual funds. There are a wide variety of mutual funds available in the market classified according to the risk, expected returns or the asset class.
4) Axe: Eliminate Worries of Market Fluctuations
The lord is also called ‘Amogh’ which means invincible and the axe plays a large part in his invincibility. Taking a cue from Ganesha’s axe, you should eliminate the uncertainties of market fluctuations. Investments in equity markets can be volatile but aims to deliver decent returns in the long term. Investing in systematic investment plans can also help in limiting the impact of market fluctuations. When you invest a small amount regularly through SIPs, the investment gets spread over different market cycles. In the case of lump-sum investments, the chances of entering the markets at a high are greater.
5) Large Stomach: Digest Ups and Downs of Investments
One of the most defining features of Ganesha is his large belly, which is also why he is called ‘Lambodar’. When one chooses to invest in financial assets, he/she should pencil in a probability of incurring losses. It is better to err while saving and investing than to spend aimlessly. You may have to bear the brunt of bad financial decisions, but consider every wrong decision as a learning experience and move forward.
6) Eyes: Stay Focussed on the Financial Goal
Ganesha is always depicted with a set of small beautiful eyes. They silently remind every investor to stay focussed and stick to the financial goal. The biggest folly an investor can do is to invest without a financial target in mind. It leads to easy digressions and inefficient allotment of resources. Having a plan and sticking to it also helps in prioritising investment decisions.
7) Mouse: Control Desires
The nimble mouse is the preferred ride of the lord and is often seen at his feet. The mouse signifies desire and Ganesha’s foot indicates his control over it. Desire if left unchallenged can wreak havoc on the best of plans. Uncontrolled desire could lead to copious consumption that would leave little to invest. Desire can take hold of an individual even after years of financial planning. For instance, many people try to time the market during a bull run, but inadvertently get caught in a bear market and suffer losses.
8) Tusk: Restructure and Weed Out Bad Investments
Ganesha has one tusk which indicates retention of the good and disposal of the bad assets. A holistic review at regular intervals can help in restructuring your portfolio. Some investments will perform well, while some may underperform. It is imperative to adjust the portfolio systematically to achieve your financial goal.
Contrary to popular belief, financial planning goes beyond a successful investment. One has to take into account the financial goal, the resources at disposal and the risk tolerance to efficiently plan for the long term. Ganesha can be a great teacher if his signals are looked at with the right eye.
An open ended fund of funds scheme investing in equity oriented schemes, debt oriented schemes and gold ETFs/ schemes.