Source/Contribution by : NJ Publications
India is a blessed land where gurus have preached the path of self-realisation and enlightenment for aeons. Lord Budhha, the revered founder of Buddhism, is one such name from ancient India who spent nearly 45 years spreading his teachings. These teachings are timeless and are as relevant today as they have ever been.
Interestingly, the lessons of living and life, are even relevant to investors. Beyond the world of financial jargon, technicalities, strategies and plans, there exists a world full of rich spiritual wisdom which can be applied to the investing world. In this article, we look at some of the Buddha’s words as guiding lights on investment matters.
On Discipline:
- “A jug fills drop by drop.” Small, regular and consistent investments go a long way in building wealth.
- “The trouble is, you think you have time.” The smart investors do not procrastinate and always act with a sense of urgency.
- “The person who masters himself through self-control and discipline is truly undefeatable.” Truly, a dedicated person with control on his spendings and discipline to follow his investment plans can overcome any financial challenges.
- “If you are facing in the right direction, all you need to do is keep on walking.” Having the right financial plan or investment strategy is the most important, all that remains after that is following it diligently.
On Behaviour:
- “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” Any financial decision has to be based on your present scenario, not past event or future predictions.
- “The root of suffering is attachment.” The biggest of the losses to investors come from their own biases and opinions, leading to irrational decisions, based on emotions.
- “Believe nothing, no matter where you read it, or who said it, no matter if I have said it, unless it agrees with your own reason and your own common sense.” The investor should always follow his own plans and not be affected by market noise, herd behaviour, avoid FOMO (fear of missing out) or what others say unless there is sound reasoning for the same.
- “What lies behind us and what lies before us are tiny matters compared to what lies within us.” Clearly, our potential to build our financial well-being is much more than probably what we have achieved or what we think we can achieve.
On Action:
- “Work out your own salvation. Do not depend on others.” Clearly, one has to avoid debt and be financially independent. One should strive for his own financial well-being and not expect others will take care of you, even your children, especially in old age.
- “An idea that is developed and put into action is more important than an idea that exists only as an idea.” No virtual plans or strategies or dreams hold any value till the time action is initiated for the same. Working towards your plans and having timely execution is the key.
- “What you think, you become. What you feel, you attract. What you imagine, you create.” Before actions, come thoughts, ideas and imagination. Having the right kind of thinking and the right set of people you interact with will also impact your actions and ultimately your success.
On Success:
- “There are no secrets to success. It is the result of preparation, hard work and learning from failure.” The quality of your plans, your knowledge, your learnings from your past experiences and actions that you take would help determine your success.
- “It is better to travel well than to arrive.” The financial well-being is not a destination but a journey to be enjoyed. Even if one achieves a targetted amount of wealth, that is not the end of it as one has to manage the same.
- “To conquer oneself is a greater task than conquering others.” There is no standard for success and one can only be seen as a success or failure according to his own expectations. We should all aim for our own personal level of success and happiness rather than compare the targets which others have set for themselves.
- “Health is the greatest gift, contentment the greatest wealth, faithfulness the best relationship.” Any amount of absolute wealth may not add anything to your happiness. One who lives within his means and is content is wealthy. True happiness can come when you are healthy and you share your life’s journey with people whom you trust.
Final words:
The title Budhha, meaning ‘Awakened One’ or the ‘Enlightened One’, was bestowed on Gautama as he taught from his insights into ‘dukhha’ (suffering) and the end of same, by achieving a state of ‘nirvana’. Buddha, in turn, is derived from the words “buddhi” which literally means ‘intellect’, ‘intelligence’ or ‘wisdom’. It would be wise as investors if we also learn from this wisdom and apply them to in our lives as we walk the small path of our own financial independence or nirvana.
