Wealth creation from stock markets may seem like a huge task. But certainly not as huge as a mountain which too had to give up in front of the perseverance, patience and hard work of a man named Dashrath Manjhi.
Popularly known as the "Mountain Man", Dashrath Manjhi was a labourer in a village in Bihar, who took on a mighty mountain all by himself and carved a wide path through it using only a hammer and chisel. After 22 long years of work, Dashrath Manjhi finally managed to create a path through the mountain which reduced travel between Atri and Wazirganj blocks of Gaya town from 55 km to 15 km.
He undertook this massive task after his wife died due to delay in receiving immediate medical care, as there were no nearby hospitals. Thinking that no one else should suffer this fate, he resolved to build the road to make his village more accessible.
Dashrath Manjhi is a legend who proved that nothing is impossible to achieve.
Here are three interesting lessons derived from Dashrath Manjhi's life:
Lesson 1: Set your financial goals
Manjhi's firm determination to carve a path through the enormous mountain gives out a strong message that every obstacle can be overtaken if one has kept a firm eye on his goal. So for wealth creation, you should also have a clear definition of your financial goals and the time frame to achieve it.
Lesson 2: Sacrifice short term gains for long term goals
Manjhi kept himself away from his children, to achieve his goal of breaking the mountain. Even during the time, when a massive drought hit his village, he did not give up and survived by drinking dirty water and eating leaves in the absence of food.
To create long term wealth, one should sacrifice, the short term profits and look at the bigger picture. Often investors are tempted to book profits when they see a slight spike in their portfolio, but this can be detrimental to wealth creation.
Lesson 3: Patience matters a lot in stock market investing
Manjhi's father would often taunt him by asking what he had achieved after so many years of hard work. Villagers would often laugh on him and label him insane. Ignoring the criticism Manjhi kept going and finally after 22 years, his hard work turned fruitful, as the road constructed by him is now used by villagers.
When it comes to stock market investing, patience is the key to wealth creation. Click here to read the benefits of long term investing in the stock market in india over short term investing.
Most stock market investors are aware of the fact that Warren Buffett is one of the richest investors in the world. But very few know that 95% of his wealth was created after his 50th birthday.
Smart investors know that the key to wealth creation from stock markets is having a long-term view on quality businesses without frequent churning of the portfolio.
As an investor, to create wealth from stock markets in India, all you need to do is take the above three lessons seriously and implement them in your investing style. Results (note: wealth creation) will automatically follow.
Need more evidence. Checkout the performance of Research & Ranking’s Model portfolio here.