Authored by Neha Kalia, Consultant-The AZAD Programme
1. You can’t play a test match the same way you play a T-20. Similarly, you must have a different strategy for money that you need in the short term and a different approach for money you need in the long term.
2. You can’t rely on your tail-enders to score centuries. It’s the openers and middle-order that help build the score. Similarly, its in your 30s and 40s that you need to start saving and investing. You can’t leave the planning and investing for your 50s.
3. Every stadium has a different pitch. Some are bouncy some are flat. The Captain needs to tailor his strategy to the pitch and conditions. No single strategy works for all pitches. Similarly no investment strategy works for everyone. Your investment strategy should be tailored to your circumstances, needs and aspirations.
4. You can afford to relax a little only if you have a solid total on the board. In a one-day, with 150 runs on the board, when you come out to bowl, you will have to play on the edge for the entire 50 overs. But if you have stacked up a good total in the first innings, you can enjoy the game in the second half. Similarly if you have planned and invested well in your early years, you can look forward to a relaxed time in your 50s and thereafter.
5. A good side has some great batsmen, some spinners, some fast bowlers and some all-rounders. A match winning team has many different abilities and skills that come together cohesively to deliver a great performance. Similarly a good portfolio is one that is well balanced and well diversified.