Diwali: Illuminating the path to financial prosperity

It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for

By Sandeep Jadwani

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People shop at a market ahead of the Diwali festival, in Nagpur, India. — PTI
People shop at a market ahead of the Diwali festival, in Nagpur, India. — PTI

Published: Mon 6 Nov 2023, 3:12 PM

Last updated: Mon 6 Nov 2023, 3:13 PM

Diwali, the Hindu festival of lights, is a time for celebration, new beginnings, and financial reflections. Just as we illuminate our homes and offices with diyas (lamps) and candles during Diwali, we should also light up our financial lives with sound financial planning.

As an award-winning trusted adviser to many affluent families and businessmen in the region, I realise that Diwali offers us a treasure trove of financial wisdom, from the importance of knowledge and discipline to the power of debt freedom and diversification. As I reflect on the parallels between Diwali and financial management, I am reminded of balancing light and darkness in both spheres. Just as Diwali celebrates the victory of light over darkness, financial planning should involve a balance of risk and reward. It is important to take calculated risks in order to achieve one’s financial goals, but it is also important to protect oneself from financial setbacks.

I am also reminded of the importance of community and connection in both finance and Diwali. Diwali is a time to celebrate with loved ones and to give back to the community. Similarly, financial planning should be done in consultation with trusted advisors and with a view towards supporting one’s community.

As the fervour of Diwali envelops our lives, casting a radiant glow of celebration and introspection, lets dwell deeper into the parallels between this exalted festival and the realm of astute financial management. Diwali, the epitome of triumph — of light over darkness, good over evil, and knowledge over ignorance — offers invaluable insights that resonate deeply within the world of investment and wealth building.

To discern the wisdom embedded within this grand festival, one must first acknowledge the fundamental parallels it shares with the intricate landscape of financial manoeuvring. Just as the victorious light of Diwali heralds the obliteration of obscurity, the domain of financial prudence demands an adept understanding of market intricacies and an unwavering commitment to illuminating sound investment strategies.

Financial prudence: A beacon of light

Diwali is a time to celebrate the triumph of light over darkness. In the context of financial management, this can be seen as the importance of illuminating one’s financial situation by understanding one’s income, expenses, and debts. It is also about developing a sound financial plan that is aligned with one’s long-term goals and risk tolerance.

Veneration of wealth and prosperity

Diwali is also a time to venerate wealth and prosperity. In the world of finance, this can be seen as the importance of investing for the future and building wealth over time. It is also about making sound financial decisions that will help one achieve one’s financial goals.

Streamlining financial portfolios

The age-old practice of purifying and revamping homes during Diwali is reminiscent of the critical need to streamline and declutter financial portfolios. This involves regularly reviewing one’s financial holdings and making adjustments as needed to ensure that they are aligned with one’s current financial situation and goals. It also involves eliminating unnecessary expenses and debt.

Sandeep S. Jadwani, Head of Investment Advisory, Habib Investment Limited
Sandeep S. Jadwani, Head of Investment Advisory, Habib Investment Limited

Philanthropic investment practices

The spirit of benevolence and altruism embodied by Diwali imparts crucial lessons in the realm of philanthropic investment practices. Incorporating philanthropy into financial plans not only underscores a sense of societal responsibility but also augments personal fulfilment and meaning within the context of wealth management. Allocating a portion of financial resources to support impactful social initiatives stands as a testament to the far-reaching impact that discerning and compassionate financial stewardship can yield.

Making calculated investment decisions

The tradition of exchanging thoughtful gifts during Diwali serves as a poignant reminder of the strategic value of making calculated investment decisions. Just as thoughtful gifting nurtures enduring relationships, astute investment choices foster long-term financial stability and growth. Cultivating a diversified portfolio that aligns with long-term objectives, while leveraging the power of strategic asset allocation and risk management, is the hallmark of an investment strategy underscored by sagacity and foresight.

In essence, the profound parallels between the illustrious festivities of Diwali and the dynamic domain of financial management resonate deeply, offering a profound roadmap to incisive financial decision-making and sustained wealth creation. As we immerse ourselves in the jubilant fervour of this cherished festival, let us harness the invaluable wisdom it imparts, guiding us towards a future adorned with financial prowess, opulence, and enduring success. Remember, just as the effulgence of Diwali radiates joy and hope, shrewd financial management can serve as the beacon guiding us toward an illustrious and fortified financial future, teeming with enduring prosperity and opulence.

As we celebrate Diwali this year, let us take some time to reflect on our financial goals and to develop a plan to achieve them. Let us also be mindful of the importance of giving back to the community and of supporting those who are less fortunate. By embracing the wisdom of Diwali, we can create a brighter financial future for ourselves and for our loved ones. Connect with me on my social handle via Instagram (@sandeep_investmentadvisor) or Linkedin for personal one-on-one consultancy.

Wishing all the readers a very happy Diwali and a prosperous new start.

Sandeep S. Jadwani - ACSI, CIB (Head of Investment Advisory, Habib Investment Limited – Regulated by DFSA) is qualified, experienced and an award-winning financial adviser to high net-worth individuals. Been in the UAE for over 15 years and guiding individuals to efficiently and effectively manage their finances to achieve their financial goals. He believes financial fitness can ultimately lead to mental fitness.

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