It is no wonder that all cricket-lovers around the world loves Dhoni, Indian Former Captain Cum Wicket Keeper. His attitude made every Indian cricket lover to be proud for his achievements,
When we closely observe him, we can learn 5 Financial Habits that make you too be a winner in your life like Dhoni’s cricket career. The 5 Financial lessons to be learnt from him are-
- Staying Calm During Turbulent Times- Dhoni is renamed as “Mr.Cool” as he stays calm and never depresses in tensed overs. Though other cricketers sledge him, he never looses patience and react to them violently. He just ignore them and concentrate on the game.
Likewise in our financial career, we should not worry about the noise in the media and react on them without researching on the fact. We should stay calm, watch the proceedings and if you still feel there is any fraud going to happen, then take action. Don’t react to the rumors spreading around the media.
- Taking Tough Decisions even it is risky– You may remember the 2007 T20 World Cup final match. Though it is a risky bet to give chance to Jogindher Sharma; a new bowler who doesn’t have too much international cricket experience. But that risky bet works and made India T 20 World Cup Champion.
Likewise in our financial life, we have to gear up our mind to risky investments even though you are conservative investor. Take little bit risk in risky assets in your early ages and on the years pass-by, you will gain experience on the risky and non-risky assets. Take calculated risk and enjoy the fruits latter.
- Changing Attitude As Per The Experience-When we observe the Dhoni’s initial career, he was a hard-hitter at that times and shows interest to hit sixes rather than on singles and doubles. But as years pass by, as a captain, he understood the need of staying cool at the crease and ends as a “Good Match Finisher”
Likewise we should be aggressive in our early age as Dhoni did. As he concentrates on sixes and fours in his initial career, we should invest in risky assets which gives higher returns. As you grow older, reduce equity portion and shift to debt instruments systematically through Systematic Transfer Plan(STP)
- Choosing his own time to quit– Though he is a standard player, he decided to Quit from Test matches from 2014 December 30th. Even though selectors have faith on him, he decided to quit from tests and concentrates on one day internationals and Twenty 20 matches.
After he feel that his body is not supporting to play cricket like ever before, he announces his retirement on 2020, August 15th.
Likewise we are all human beings, we can’t work forever, we have to retire at one particular age. Decide whether your body is supporting you and you can work further or not. If your body doesn’t supports you, you may be planned your retirement from your first pay-check. If you haven’t earned sufficient corpus, you have to work whether your body supports you or not! So be prepared for retirement by investing from an early age.
- Choosing Alternate Source Of Income– Though he earned sufficiently, he never stepped-down. He signed up for many commercial ads which creates “Passive Income” through the fame earned through Cricket. He signed-up an agreement with Chennai Super Kings; an IPL Team and earning extra income through IPL Franchises by playing cricket .
Likewise, we should not relax after retirement! We should create “Passive Income” which generates income without putting much efforts. Just spare some time to earn Passive Income and you will surely financially free during retirement.
Though earning money like M.S.Dhoni is not possible to all, we should inspire by his acts and apply them practically. If you are successful in applying them, you will lead a peaceful retirement.