Your financial portfolio and Japanese principles


To avoid karoshi, it is death caused by overwork

Karoshi or death due to overwork is one of the negative elements of Japanese culture. In financial jargon, this translates into an excessive obsession with financial returns leading to hourly portfolio monitoring. You are strongly advised to avoid reading too many great tips or opinion pieces (except mine, of course!) And follow the hyperactive journalists who are screaming all day on TV promising you financial nirvana. Too much unsubscribing or regular follow-up only adds to the daily misery. It is suggested that you monitor your portfolio once a year at best and avoid doing too many transactions.

Follow your Ikigai; wealth is only a catalyst after all

Ikigai, the famous Japanese concept, which translates to living your goal everyday is one of the biggest exports of Japanese culture. In the end, looking for money can seldom belong to someone. Ikigai because it leads to a very superficial and meaningless life. Ideally, money should be treated as an effective catalyst while the individual follows his Ikigai-a the intersection of what someone is good at, what they love, what the world is willing to pay for and what the world needs, ruthlessly.

Finally, the most important principle in building sound financial management is to practice negative visualization as advocated by preachers of Stoicism. Stoicism, as a branch of religious studies, originated in Greece and Rome, but managed to permeate all of Japanese culture. The concept of negative visualization, rigorously practiced by businessmen and sportspeople around the world, refers to training your mind to respond to the worst possible scenario, so that you will be calmer in the face of any difficult situation that arises. presents itself to you.

So go ahead and ask your mind: “What will happen if you lose 80% of your wealth overnight? “ and I hope you start to sleep better like Okinawa centenarians do.

Opinions are personal. The author holds an MBA from IIM Bangalore and a strategy course from INSEAD. He has been a strategy consultant for over a decade. He is the author of three books, “Yours Sarcastically”, “Satan’s Angels” and the upcoming “Hacks for Life and Career: A Millennial’s Guide to Making it Big”.

Source link


Comments are closed.