As we celebrate Ganesh Chaturthi, the festival honouring Lord Ganesha, the remover of obstacles (Vighnaharta), we are reminded of the importance of making auspicious beginnings in all aspects of life. Just as Ganesha removes obstacles and clears the path to success, we can achieve a secure financial future by making wise financial decisions—starting with regular, systematic investments in mutual funds.

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The Power of Systematic Investing: An Auspicious Beginning

Lord Ganesha holds a special place in the Hindu tradition. Lord Ganesha symbolises wisdom and foresightedness and is worshipped for his ability to remove ‘vignas’ or hurdles from our lives.

One of the ‘vignas’ or obstacles many face is not having adequate finances or the hurdle of financial security. We must realise that financial obstacles are often a result of not following financial discipline. We need to overcome these financial obstacles by making some intelligent choices.

Firstly, we need to understand that savings alone don’t guarantee financial security because the termite of inflation works day and night to reduce the value of what we save. We need to invest our savings meaningfully if we want to create wealth and secure our financial future.

Instead of chasing quick profits through trading on tips or speculative investments, investing regularly in mutual funds is wiser. This approach ensures that your savings are put to work in a way that is both efficient and effective. Systematic investment plans (SIPs) in mutual funds embody these qualities of efficiency and efficacy. SIPs allow you to invest a fixed sum of money regularly, regardless of market conditions and build wealth over time. This disciplined approach helps smoothen the obstacles of market volatility and emotional decision-making, paving the way for financial stability and growth.

Listening to Professional Advice:

Ganesha’s large ears remind us to be good listeners. In the financial world, this can translate to a willingness to heed sound financial advice or consulting with a qualified financial planner/SEBI registered investment advisor. A financial advisor can help navigate the complexities of investing, ensuring that your money is managed wisely and aligned with long-term goals.

Learning from Mistakes:

Ganesha’s large head symbolises wisdom and learning. In the context of investing, this means having the wisdom to learn from past mistakes and becoming wiser investors. Many investors have experienced losses due to impulsive decisions, lack of discipline or taking too much or too little risk. However, rather than being discouraged, let’s treat these experiences as valuable lessons that show us the path to success.

Life Lessons:

If we look at the Ganpati idol, we often see that the left tusk is broken. According to mythology, Ved Vyasa, the maharishi who wrote Mahabharata, wanted someone to write the story as it flowed from his mind. It was not feasible for anyone on Earth to write at such a high speed. Hence, he asked Lord Ganesha for help. Lord Ganesha has agreed to help and started writing using an ordinary quill. However, the quill broke off in the middle of the dictation. Not wanting to stop, Ganesha simply broke off his tusk and continued writing with the tip of his broken tusk instead. Ganesha’s dedication and commitment gave the Hindu tradition an epic scripture. However, while we start our investment journey with financial goals, as soon as the markets turn volatile or fall, we stop our SIPs and tend to redeem our investments prematurely.

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Consistency and dedication can be put into action through SIP (Systematic Investment Plan). SIP can help you accumulate Rs 1 crore in 20 years by just investing Rs 10,000 every month (assuming a rate of interest of 13 per cent) and accumulate the same amount in 10 years if you invest Rs 45,000 monthly.* So start your SIP today since a few years’ delay can significantly reduce your accumulated wealth. This Ganesh Chaturthi, let us honour Lord Ganesha, the remover of obstacles, by resolving to break our bad financial habits and embrace systematic investments. By starting now—regardless of our current circumstances—and allowing the power of compounding to work in our favour, we can pave the path to success and prosperity, ultimately securing a brighter financial future.

The author is the CEO of Baroda BNP Paribas AMC.

Disclaimers:

*The investment is assumed to be made in an equity scheme. The amount accumulated will also depend upon scheme selected, prevailing market conditions, view of fund manager on the market, etc.The views and investment tips expressed by the expert are his own and are meant for informational purposes only and should not be construed as investment advice. Investors should check with their financial advisors before taking any investment decisions.

Mutual fund investments are subject to market risks, read all scheme-related documents carefully.