It is easy to forget gratitude – when you make some money! Well, I have no clue whether I have made enough money to forget gratitude, but just acknowledging a few things…
In one’s quest for staying grounded in equity for a long time, luck has to play a role. I CONTINUED the family’s equity journey – of course staying in Ghatkopar helped, but let me see what all went right..
- Family income did not flucutate at all – in fact it kept rising for my dad.
- I started earning in 1985…and more money was available to invest.
- No financial emergencies – for me or my dad.
- No big mistakes – except that MY PORTFOLIO was bankrupted when my broker defaulted
- My parents did not get scared about equities, and did not stop direct equities even in 1993 when the market tanked.
- In 2003 needed to buy Real Estate – was funded by PPF instead of equities
- Did not bother too much about Asset Allocation ratios – stayed on in equities for real long time
- No major expenditure was funded by sale of equities – marriages, medical expenses were all met with current income.
- Foreign vacation too was funded from dividend instead of capital
- 40-50 years of uninterrupted compounding, but dividends were used to fund day to day expenses
- No stupid pressure to buy gold or keep money in fixed deposits
- No medical reasons to re-think asset allocation.
- My dad happily surrendered the need to “control” what is happening in his portfolio.
- A long bull market – from 1950s till today – other asset classes were no patch.
- Luck – met many right people – and I can’t name them – of course!
- Bought software to do research – I can tell you ROI was infinite
- Invested in books – ROI was (is) infinite
Just enumerated some thoughts…
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