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5 Money Lessons From Ganesha On How To Start Planning For Retirement

Adhil Shetty

While you revel in festivities this Ganesh Chaturthi, spare a thought to your long-term financial health. This festive season, look closely to draw financial inspirations from the Lord himself. And implement the learnings for a prosperous life post retirement.

Known as the god of new beginnings, wisdom and knowledge, Lord Ganesha is associated with financial well-being. So, it’s only fitting to derive from the wealth of knowledge that he holds, and ensure that you never have to compromise owing to lack of funds.

Look At The Big Picture

Ganesha’s large elephant head is believed to signify the acumen to be able to see the big picture. Now this is the required focus and farsightedness, especially, when it comes to planning your finances for retirement. Make an auspicious beginning this year by taking all the necessary measures to secure your finances for your golden years. Whether you’ve just started your career or you have reached midway, based on your risk appetite, make retirement planning a priority.

Your risk appetite, investment potential and financial goals determine the mix of investment instruments in your portfolio, including long-term investments such as buying real estate, secure options such as a PPF account, as well as in mutual funds and insurance.

Stay Focussed To Reap The Best Results

It is often easy to make a plan and then put it off for later. You may wish to defer your retirement plan thinking you have ample time. While this is likely to be true, to be absolutely certain that you have the means to finance your post-retirement expenses while beating inflation, it is important to stay focussed and act on your plan. After all, Lord Ganesha’s sharp, small eyes earned him the name Chinteshwara, and are a metaphor for concentration and focus. So review your plan periodically, ensuring to make adjustments to it as per your increasing salary. Also, set a timeframe to achieve the goal that you have in mind to stay motivated.

Update And Seek Knowledge Continuously

If there’s one lesson to learn from Ganesha’s big ears, it’s this: Always be open to the idea of expanding your knowledge. This means that even if you have an understanding of personal finances, make sure that you’re doing everything in your power to improve upon it.

Apart from reading financial articles and books, you can also seek expert help from a financial advisor. This will help you streamline your plan and ensure that you’ve chosen the right investments and that your portfolio is working as hard as you are to secure your retirement.

Look Beyond Everyday Expenses

Ganesha’s big stomach is not just a sign of his love for food, but it also tells about his appetite to tackle whatever comes his way. When you’re planning your finances for retirement, apart from paying for everyday expenses and healthcare, it is imperative that you also focus on creating cash reserves earmarked for various other purposes. For instance, urgent home or car repairs shouldn’t throw your finances out of gear. Also, having a cash reserve will help you take care of any medical emergency without thinking twice, and will also ensure that you are able to pursue your passions, be it travelling or sculpture, without worrying about how much it is going to cost you.

Don’t Get Carried Away By Every Emotion

The way Ganesha sits holds more significance than what meets the eye. His right foot is often perched on his left knee, to signify that you should choose reason and knowledge over your emotions. Here, the right side of the body symbolises the former, and the left, the latter. So, when it comes to financially preparing yourself for the future, remember this lesson.

Instead of allowing your emotions to guide your decisions, let logic and reason take over. Weed out any components that don’t work, and replace them with ones that help you multiply your money in the most effective way. Also, don’t simply follow others or get emotionally involved when saving or investing for retirement. Always think with a clear head and examine the facts.

This year, revise your approach towards planning for retirement. Keep these lessons in mind to be absolutely certain that you’re doing the best you can for a financially secure post-retirement life.

The writer is CEO, BankBazaar. is a leading online marketplace in India that helps consumers compare and apply for credit cardpersonal loanhome loancar loan, and insurance.