Since the game is so passionately followed by so many of us, mainly for its thrilling moments, there are some important things to learn, if you look closely. Let us ask you a question – while watching the game, have you ever noticed the similarities that exist between cricket & investing? If not then we are here to enlighten you about the many parallels one can draw between cricket & investing; so let’s dig deep:
- One must look for a good start
ET SpotlightJust like the game of cricket, the toss plays a crucial part in how the game will turn out. Even before you start playing, a toss in your favour can help you stay in the winning quadrant. Similarly, when you look at investing, the idea is to start as early as possible so that when you start expanding your investment pool, you’d be aware of how you want to build your wealth i.e. be in the winning quadrant. You can start early by investing in an insurance plan with savings options, which will help your money grow gradually.
- One must look for diversity
ET SpotlightA cricket team with all 11 batsmen or bowlers cannot function well, thus a diverse pool of talented individuals like fast and spin bowlers, batsmen, wicket keepers, fielders and all-rounders are a must for a team to be successful. Similarly, your investment portfolio needs to be diverse and have the right kind of mix such as equity, debt, cash and gold to name a few. This way, each investment plan will play its part in your portfolio and can maximize your investments.
- Choosing a team with capable players
ET SpotlightWhile we say diversity is the way to go, one must also identify the right talent and select the right players. It is critical for the team to do well if the selectors have a keen eye for consistent performers. Likewise, investments should be done with the plans that suit your needs. You need to have a keen eye for the right investment opportunity. One such option is from HDFC Life.
Called the
HDFC Life Click 2 Protect Life
, this Term Plan adjusts as per your needs and protects your family against uncertainties. Just like an all-rounder, this offering from HDFC Life has three plan options – Life & Critical Illness Rebalance, Life Protect & Income Plus. Additionally, there is an option to reduce the premium payment term from regular pay to limited pay.
ET SpotlightThe Life & Critical Illness Rebalance term plan covers life. But in addition to life cover, in case of a critical illness** is detected then this plan not only waives off any future premiums but also provides a lump sum Critical Illness** benefit.
** The list of Critical Illnesses can be found in HDFC Life Click 2 Protect Life brochure, which can be downloaded
here
.
Under the Life Protect option, you are covered for death during the policy term. In case of your unfortunate demise during the policy term, your nominee gets a lump sum benefit.
The Income Plus option of the HDFC Life Click 2 Protect Life offers basic life cover. However, this plan is different from the other two as it pays income once you turn 60-years-old. This option ensures an additional source of income once you turn 60-years-old.
To know more about HDFC Life Click 2 Protect Life,
click here
.
- One must keep in mind the long-term performance
ET SpotlightWhile selecting a team, short term lows should not matter, especially when a player has a track record of proving himself/herself. The idea is to look at players with the potential to perform in the future & recent short term performance shouldn’t be criteria to judge. Likewise, you must pick investments that have proven well in the past & have sustained previous market turbulences. Short-term ups & downs shouldn’t influence your decision to pick an investment plan.
- The importance of singles
ET SpotlightWho doesn’t like to see sixes being scored over the Long On or exquisite cover drives piercing the Covers for a boundary? These high scoring shots give the necessary boost to overall runs scored. However, it is the frequent singles that keep the run rate ticking. And eventually, with time and patience, these singles add up to a big total. Just like how singles play a crucial role in the total runs scored by a team, your investment kitty also needs a plan that keeps the momentum going. Systematic Investments Plans (SIP) can help you maintain a solid ‘run rate’ and keep building your investments.
While there are many more attributes that are common between cricket & investing, the above-mentioned factors stand out. Meanwhile, the T20 World Cup is on, so enjoy the thrilling matches & keep cheering.
