The quarterly GDP growth has been published and is at 5%; it has also indicated slowdown in manufacturing and industrial activities. There are apprehensions that the economy will face difficult times ahead. The Finance Minister and RBI have come out with measures to counter this slow down. Economic changes are cyclical and so also equity market. It moves upward over a long term. Now the opinion is divided between optimism and pessimism. But at individual level we can focus on what is in our control and accordingly make/revisit our plans. We suggest some actionable;

Delayed gratification is making sacrifices now to enjoy the benefits later. Delayed gratification is worth discussing in an age where instant gratification is the norm, not the exception. Delayed gratification feeds into the ability to manage your finances in a better way. It can control the gambling instinct, the decision to persist with your savings strategy when the market is collapsing, the resolve not to compete with the neighbours or social circle, the discipline to save for your retirement. It can yield tremendous returns if you can exercise self-control and tolerance for waiting. David Laibson, an economist at Harvard University, […]