investing | Oindrila Goes Footloose

Many people tell me they wish to do a lot of things, visit a lot of places, but they wonder whether they’ll have enough time and money to achieve all those dreams. The answer to the first doubt about “time” is quite plain. We are living longer, and we’ll certainly have a lot of time post retirement to pursue our hobbies and wishes once we are free of our full-time jobs. The second factor of money is a tricky one. We’ll need enough to adopt a lifestyle that lets us do whatever we like. The best way to control how money works for you is to exert your control on it early. Be proactive in following a few steps, and you’ll realize how the benefits are far-reaching.

Don’t Lose Sight Of Your #LifeGoals

I don’t fear heights anymore now that I know the beauty that can be beheld from the top. (The farmlands in Purushwadi, Maharashtra)

Doubts appear big when you have forgotten how much bigger and infinitely precious your goals are. If you have your eye set on your dreams, it won’t matter that you have no experience of the goals that you ultimately wish to pursue. When I was growing up, I didn’t know a thing about travelling alone. I learnt on the go and gained confidence when I started doing solo trips around India and the world and discovered that the doubts were only in my head. When I did my first solo hike in the Austrian Alps, I was scared of being attacked by a wild animal or losing my way. But I returned to the base that evening unscathed. And I’ve observed a similar trend with most of my former doubts which I have lost by pursuing my dreams.

Take Help And Ask Around

Manhattan (New York) urges all to lose their inhibitions and mingle.

I was all by myself in New York City last year, intimidated by the giant buildings, supersized food-portions and the swarms of people from (perhaps) every country on the world map. But I eased into the NYC culture when I started talking to the people around me. They were much friendlier than I thought they’d be. To the common man who probably fears making bad investment decisions, it would be a good idea to take advice from the experts. All of the time that I’ve spent travelling has not made me poorer financially, only richer experientially.

Put Those Thoughts Of Uncertainty Aside

The world is full of beautiful colours which you can see only when your mind is not preoccupied (Kala Ghoda Arts Fest in Mumbai).

Many of my friends are nervous of undertaking adventure sports because they fear losing a limb or something even worse. If you are so afraid of death, it makes even more sense to realize your dreams as soon as you can. If you are just worried about not being able to provide for yourself and your family in your golden years, plan for those times now! Only last month, Bajaj Allianz launched a unique ULIP that provides return of life cover charges for life maximizers. The product – Bajaj Allianz Life Goal Assure is designed to reward the policyholder for outliving the maturity period by returning the cost of life-cover when the policy matures. And if you choose to receive the maturity benefit in instalments over 5 years (and not lump-sum), you get a return enhancer of 0.5% of every due instalment. And of course, your money still remains invested in the fund(s) of your choice! When you have taken care of your old age, will you still be afraid of death?

Don’t Wait For Your Best Friend To Do It First

You never know how long the person standing next to you will be there for you (in Philadelphia, Pennsylvania).

I often notice that people are unreasonably hesitant to be the first to do anything, even if it is as innocuous as watching a new movie which hasn’t been critiqued yet or eating at a newly opened restaurant which hasn’t been reviewed. Do you even know how wonderful it feels to be the first to do something? When it comes to investments though, you must be careful. Put your earnings only into a product which is managed by an institution you trust and that which has good fund managers. Bajaj Allianz Life Goal Assure lets you choose among 4 portfolio strategies and gives you the flexibility to switch unlimited times between funds (you can choose from 8 available funds). Besides, benefits are maximized for long-term investors and there’s the element of convenience, thanks to the facilities that can be availed of online through their website. Being a life-insurance ULIP, the product also gives you tax benefits under section 80C and 10D.

Experience The World With Childlike Wonder

We have so much to learn from carefree kids.

The older we get the more morbid our thoughts become. Why don’t we look at children who are always excited about little things, enjoying the company of their friends and strangers, and happy with very less? They know that life is valuable and holds a lot of promise for them. If you trust your days to bring you cheer, will you still be sullen?

Are you avoiding chasing your dreams because you fear something will go wrong?

Write your comments below! 🙂

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Do You Suffer From Resolution-Myopia?

I resolve to wake up with the sunrise and enjoy my mug of coffee in peace.

More often than not, our resolutions are aimed at achieving quick results, our timelines being no longer than one year. This is one of the biggest reasons why new-year resolutions are ineffective at driving any lasting changes to our lives or lifestyles. A powerful alternative to having resolutions is to have #LifeGoals. Life-goals are a mix of long-term (read – For Travel Goals that are Long Term…) and short-term goals that don’t put pressure on you to achieve those within a year. Therefore, even after 365 days, you know you are dreaming of the same thing. There is consistency.

Do You Know Why You Want What You Want?

I dreamt of and visited Bhutan last year.

Reason #2 for failed resolutions is not having clarity on why you want to accomplish something. When you have a strong reason driving your goals, you have much higher chances of achieving those. Most of my goals revolve around travelling and writing. I recently went on a long trip to the USA, and my foremost reason for that journey was to learn to live independently and be away from home for an extended period of time. Despite the seemingly exorbitant budget, I made it happen. My reason was the clincher.

Do You Fear What You Have Never Tried?

I finish my bowl of greens with chopsticks at a Teppanyaki restaurant in California.

An oft-overlooked reason for failed resolutions is having poor-quality ones. You would never want to stick with something that does not appeal to you. Our goals are often watered down by our miscalculated assumptions on what they will take to achieve. Many of us are scared to even admit we want a villa at a beautiful destination. The more I have travelled around the world, the more I have lost my fear of the unexplored. I no longer think twice before trying a new cuisine or a new activity. When you are unafraid, you have a wider and richer variety of goals to aspire for.

Do You Procrastinate When You Have To Take Action?

You cannot be a good swimmer if you only stare at pools. (Photo from my stay in Udaipur.)

The most obvious cause behind dead resolutions is the absence of the fuel that it takes to keep one alive. Your dreams are of no value if you don’t “DO” anything to realize those. For your #LifeGoals, you need to have an action plan. If your dreams need money, you need to start investing. I attended the Bajaj Allianz Bloggers’ Meet on 8th Jan and discovered how much has changed in the world of investments and insurance. Unit Linked Insurance Plans (ULIPs) are instruments that have undergone a lot of changes, and can be useful tools for you to save for your dreams. Bajaj Allianz will soon launch a ULIP product to help you focus on what matters most to you and #InvestBefikar. (More on that next month.)

Do You Suffer From The Herd-Mentality?

Don’t follow the flock. Do your own thinking. (I captured these jungle babblers in Bandipur, Karnataka)

Resolutions can also fail if they are not yours to begin with. If you have been copying the world, trying to follow the latest fad, or blindly aping celebrities, you are not living your own life. And you certainly aren’t dreaming your own dreams. Make sure you understand your priorities and invest your time and life in making your real wishes come true.

Do you have your #LifeGoals listed out?

Are you making financial investments to fund those goals?

Write your comments below! 🙂

Follow me on Instagram, Facebook, Youtube and Twitter for more insights and pictures from my journeys around the world and into my soul. Do share this article with your friends who struggle to plan for their goals!