Success doesn’t come to you. You go to it. Neeraj Chopra’s recent success at the recently held World Athletics Championships created ripples of happiness and surprise in Indian sports. On August 28 in the early hours, Neeraj Chopra achieved a historic milestone. He clinched the gold medal in the men's javelin throw competition at the World Athletics Championships held in Budapest, Hungary.
Neeraj Chopra's name was permanently etched in the annals of history as he became the very first Indian athlete to claim the gold medal at this prestigious championship. Showcasing unparalleled skill, he registered an impressive throw spanning 88.17 meters on his second attempt, showcasing his dominance throughout the entire event. This remarkable feat not only secured Neeraj the coveted gold medal but also established him as a pioneering figure for Indian sports on the global platform.
More than his continued achievements, it is his grit coupled with his humble origins that has prompted many people to look at the congruence between his life journey with the investment world. You take a careful look at his journey so far and realize how it is eerily similar to the investing styles of most successful people.
Starting with an advantage is not necessary
Neeraj Chopra's example highlights the significance of mindset over situations. Despite being overweight as a child, he persevered in his aspiration to become a javelin thrower. He committed himself to rigorous training and transformed his physique, overcoming the hurdle of a 20 km distance to the gym. Additionally, he covered a daily 40 km journey to train at the Tau Devi Lal Sports Complex. Neeraj never resorted to complaints or excuses; he simply persisted and ultimately realized his ambition of securing an Olympic gold medal.
Lesson learned: It is okay if you are not financially literate enough to decide your next line of savings and investments. You must decide to start somehow. Once you are en route on your financial journey, you will come across people, events, and incidents who will share their financial experiences that will shape your idea of investing and lend a new meaning to your financial goals.
Investment experience isn't inherent from birth – it's something you gain through dedicated effort, concentration, and self-control. You can achieve it only if you are willing to work on it.
Having an early start confers a lifelong benefit
Neeraj Chopra’s rise to success was not sudden. The journey started when he was merely 13 years old. It took single-minded focus and devotion for 10 long years that made him what he is today. Neeraj started practising early in life to get to where he is now.
Lesson learned: The sooner you initiate your investment journey, the more time your money possesses to flourish. This phenomenon is rooted in the concept of compounding. Compounding involves earning interest on your original investment and the interest it accrues, creating a compounding effect that leads to exponential growth over time.
A reference to the Sensex perfectly illustrates this principle. If you had invested ₹1 lakh in the Sensex back in 1980, it would have burgeoned to ₹5.4 crore today. This impressive growth is attributed to Sensex's consistent average annual return of 17% over the past four decades.
It's valid to debate whether the Sensex will maintain such elevated returns in the future. Nonetheless, historical data indicates that, over extended periods, the stock market has consistently outperformed other asset classes like fixed deposits and gold.
Hence, if your aim is to cultivate wealth over the long term, commencing your investment journey early is paramount. Even if your monthly contributions are modest, their cumulative impact over time will be substantial.
Talent is futile without tenacity
Neeraj Chopra's resilience is undeniably remarkable. Throughout his journey to Olympic gold, he encountered numerous obstacles, yet he refused to yield. His unwavering dedication to his objective has remained steadfast.
Undoubtedly, there were instances when he faced discouragement. Moments arose when his javelin throws fell short of his aspirations, and periods when injuries struck. Nonetheless, he consistently rekindled his spirit and pressed onward.
Likewise, there were likely moments of uncertainty. Times arrived when he questioned whether he possessed the mettle to attain an Olympic gold medal. Nonetheless, he nurtured an unshakeable self-belief and clung tenaciously to his aspirations.
Loneliness might have visited him as well. Countless hours were spent honing his skills in solitude, often without the full backing of his family and friends. Yet, he remained resolute, finding solace in the support of his coaches and mentors, who stood firmly by his side.
Lesson learned: How you respond and react to shaky markets decides how much wealth you create in the long run. Investors who get edgy when the market does not conform to their estimates and expectations from the market will never find a way to earn from it. An investor who possesses the determination to remain steadfast during challenging market conditions and adhere to a well-defined strategy will inevitably achieve success in their investments.
Be in the company of like-minded people
A nurturing environment is of immeasurable value for individuals aspiring to achieve excellence in any endeavour. This rings particularly true within the realm of sports, where athletes rely on comprehensive support to realize their utmost potential.
Neeraj Chopra's sports training community furnished him with all the requisites for triumph. Companions and peers provided unwavering backing, coaches contributed to his enhancement, and rivals spurred him to elevate his performance. Additionally, he had the privilege of gleaning insights from the experiences of fellow athletes.
Such a conducive environment is not confined to sports alone. Numerous investor communities of like-minded individuals extend support and resources to their members, fostering an ideal backdrop for triumph. These communities serve as invaluable platforms for learning from fellow investors, exchanging ideas, and seeking guidance.
Lesson learned: There are benefits to being a part of a like-minded investor community. Firstly, you have the opportunity to glean insights from investors with greater expertise. Additionally, you can contribute your ideas and receive input from fellow investors. Seek guidance from those who have navigated comparable situations. Moreover, you can establish connections and forge relationships within the investor community. Lastly, you can keep abreast of the latest developments and trends in the investment landscape.
You must be willing to bounce from setbacks
Injuries are an inherent aspect of sports, much like financial losses are an inherent aspect of investing. However, what distinguishes winners from others is how they react to these setbacks.
Neeraj Chopra had the option to surrender when faced with his elbow injury. He could have declared it insurmountable and resigned himself to never competing at the elite level again. Yet, he chose a different path. He sought out the finest biomechanical expert in Germany, undergoing top-tier treatment. He dedicated himself to rehabilitating his elbow and making a comeback in the javelin throw game. After a pause of 16 months, he triumphed with an Olympic gold medal.
This narrative underscores Neeraj Chopra's resolute determination and unwavering spirit. His example resonates as a true wellspring of inspiration. He demonstrates that any obstacle can be conquered through relentless effort and an unyielding commitment to one's aspirations.
Lesson learned: You learn only when you fall, but then you must be willing to brush aside your pain to get going with the game. Investing is not a win-win game for all. Some may fall prey to wrong technicals or succumb to sudden and prolonged recessions. But the most successful investors have managed to stay put and earn from the market even when they fell and lost their money.
Enrol yourself with the best coach
Selecting Uwe Hohn as his coach was Neeraj Chopra's deliberate choice to learn from a master. Recognizing Uwe's wealth of experience and expertise, Neeraj was certain that under his guidance, he could unlock his complete potential. Moreover, Neeraj was aware that Uwe's unwavering dedication to improvement would compel him to excel.
Neeraj Chopra's astute decision to enlist Uwe Hohn's coaching services reaped significant rewards. Ultimately, this choice culminated in Neeraj's conquest of the Olympic gold medal. Uwe Hohn's support proved instrumental in Neeraj's remarkable achievement. Uwe's status as a remarkable champion was underscored by his indispensable contribution of experience and wisdom to Neeraj's journey.
Lesson learned: The realm of investment mirrors the sports arena. Knowledge wields substantial influence, and it's imperative to secure access to the most exceptional investment insights available. Lacking the proper mentorship, and initiating actions in the correct trajectory can prove challenging.