2020 : A year to learn from

This year has been so volatile that no one could have ever predicted this. We, for the very first time saw the lockdown, markets went crazy, so much of chaos, many people losing their businesses and jobs and some even more than that. 

I know sometimes things get difficult for even the big players in the industry but I am glad my employer #Morningstar has taken good care of its employees during this tough time, they have not just maintained their head count but in fact increased this number.

Over the last few months I have seen people putting up posts on LinkedIn that they have lost their Job, and even after having an experience of over 10-15 years they are not getting a new Job, and trust me this really hits me hard because I understand how stressful this can be, but at the same time when in those posts I read that they have run out of all of their savings in the last 4-5 months and are facing extreme financial crisis, I start doubting about what actually might have happened because yes this can be the case for a few people but definitely not for someone working for 10+ years.

There can be two reasons for someone to write these posts, 

1. They have simply copy pasted it from someone else’s profile to have that sympathy: which shows your lack of intent and determination towards the opportunity they are looking after 
2. Or this is actually true and they have seriously run out of their savings: Which means they have made some really wrong financial decisions in last 10 years of their life. 

This is not taunting or boasting, just because I have a job. This is a serious piece of advice that I would like to give to all which is to "Plan your finances effectively". 

When you are working, all you can think of is slogging your weekdays and enjoying your weekends. You are so occupied with all the other things in the world that, Investing or growing your wealth is the least important thing that comes to your mind, and the only time it comes to your mind it is when you have to save some taxes.

When someone gives you an advice, you ignore that because you know you are well equipped with all the information in the world and can manage this on your own but trust me you don’t have time to implement that knowledge and that’s where you need a financial advise.

To maintain your health you seek advice from a doctor irrespective of the fact that everything is available online than why don’t you deal your financial health with such importance, rethink this twice. Money is not everything and certainly it cannot buy you everything, but yes it can definitely support you in your tough times.

I wish that 2021 brings joy to all your lives and may all of you get back to your work, but do remember don't make the same mistakes again, be prepared, put your guards up, learn from your mistakes, seek advice because whether you agree or not

Financial planning always have and always will be the most important aspect of your life.

#FinancialPlanningMatters #startinvesting