Mr. Husaini Kanchwala,
Head - Product - Investments. NJ Group
Husaini Kanchwala is the Product Head for Investments, having been a part of sales earlier. With an experience over 15+ years in the financial services industry, Husaini is responsible for investment product promotions and tie-ups with manufacturers.
As we move into the new decade of 20's, it's time to think where do we see ourself by 2030. What are the major events lined up in life which we can comfortably predict at this point of time and how are we prepared for them now. As Financial Advisors, we always plan for long term of our clients, lets sit back and spare some time to look into our own long term, at least for the new decade.
So, before we go forward, lets have a look backwards... Where were you in 2010 in terms of family, relationships, career, finances, health? Has this decade been as fruitful as you would have liked or is there something missing. Probably once we look back, we realise things are much better off in the long run then what we might have expected back in 2010 (well, in most cases). While investors are always concerned about short term, it's the wise ones invested for long term who have actually created highest amount of money. Keeping things in perspective of what happened in last 10 years, lets think about things which we would like to achieve in the coming 10 years.
What's the bucket list for the next 10 years:
- Are you planning/expecting to have more children in your family
- Are your children going to go for higher education in the coming years
- Will your children enter marriageable age in the next 10 years
- Do you want to move to a new house or a new city
- Do you want to upgrade your car or buy new car for your spouse or your children
- Are you going to be more conscious of your health
- Do you want to add any more products to your business
- Do you want to increase your team size in the current business
- How will your business look like in the coming 10 years
- How can you reach out to more investors
- How can you make more investors happy and help them achieve their goals
- What sort of investment do you need to do in your business
- How would you like to upgrade your skills to manage your business better
- How many countries would you like to visit
- Are you prepared for all the above expenses
Lot of things to ponder over, it seems. May be it will become a bit confusing or intimidating too, thinking about too many things or calculating the amount required for doing all the above things! But relax, stay calm. Spend some time with yourself to chalk out your thoughts and your plans. Better to write down things and paste it in front of your table. Thinking through about all these things, will at least give lot more clarity about what we want to do and how we want to do it. It makes us have a better perspective of things to come and we are better prepared before hand rather than running helter skelter at the last moment. Of course, the best laid plans, may go awry for hundreds of things which we can't predict currently. But, it's always better to have a plan.
Life just like stock markets is never going to move in a straight line. And there are going to be good years and there are going to be bad years. Just like any decade in stock market, returns are great for only 5-6 years and are negative for the remaining time, but a focussed investor always ends up making money in the long term. Similarly, we are going to have our share of ups and downs.
A long term vision for ourself, is also very useful for our business. As we keep talking about long term to our investors, if we are clear about our long term goals, it gives us much higher confidence in dealing with the clients and guiding them towards their goals. Financial Advisory business is strictly for long term. Any advisor who has joined the business with a notion of making a quick buck will be thoroughly disappointed in the short term, but stay invested in this business with a long term approach and you will reap the treasures in the due course for many more years to come.
Lets get working and try to create our own plan for 2030, which will be our guiding light for the next decade. Not only will we be better prepared, but also have a clear vision of what we want to achieve and where we are going to land in this joy ride.
May God give us strength and patience and help us bring happiness in lives of millions of our investors in the coming decade by creating their wealth through right investing and help us realise our dreams too through this process. Amen.
Wishing you a very happy new year and a happy new decade!!