Planning Your Financial Game: A Cricketing Approach
If you follow and understand cricket, you already know how to play financial innings. Without any pre-match build-up, let's see how cricket can help you understand your financial role and needs.
1. Start of innings / Keeping the wicket
A new batsman at the crease may be anxious about his performance and would like to keep his wicket intact so as to score and cement his spot in the team. This calls for avoiding risks and protecting his wicket at all times. The runs will come in due time.
While planning your financial game at the beginning of your financial journey, it is important to get term insurance to build a solid foundation. Term insurance plans act as a safety net for the team's or, in this case, the family's interests.
2. Mid Game
Both teams settle in once the initial overs are out of the way. Consider a batsman at this stage of the game. Here, his strategy for his innings would be to play to ensure a good total for his team. All this while opting for as low a risk as possible.
Similarly, when setting financial goals and making a financial strategy, you would want to follow the same steps. To achieve all your financial goals such as the education of your child, long term wealth creation or retirement planning, consider investing in HDFC Life Savings Plans which offer benefits such as regular income1, guaranteed2 returns, life cover, death benefit and maturity benefit at the end of the policy term depending on the plan that you have opted for.
3. Closing the innings / The Finisher
The captain has to continuously assess the situation and rotate the bowlers, the fielders, and the batting order. He is the face of the team, and along with all of this, he also has to play well himself. The wise batters know when and which ball to hit. The thinking bowler knows where and how fast the next ball should be bowled. These players usually have the most responsibility in the game and are usually tasked to finish the game.
So when it comes to your financial game, the strategy would be to prepare for the golden years of retirement while you still have time on their side. That said, you also have to fulfill responsibilities along the way. Their priority is winning the financial game for your family and for your own comfortable retirement.
No matter your life stage, a savings plan can help you plan your financial game and make financial strategies for all stages.
4. Game Set
Financial planning is similar to cricket. Strategies are made according to one's priorities, stage, ability and needs. These can be in cricket or in the financial game of life.
HDFC Life plans will stand by you as a valuable tool no matter which strategy you employ or what stage of life you are in.
Related Articles:
- Smart Tax-Saving Techniques for a Salary of Rs. 10 Lakhs
- Building a Solid Financial Foundation: Budgeting in Your 20s
- Impulse Buying: How to Avoid Regrettable Financial Decisions in your 20s
- Here Is How You Can Plan For Your Dream Home Before Turning 35
ARN: ED/11/23/6263
Term Plan Articles
Investment Articles
Savings Articles
Life Insurance Articles
Tax Articles
Retirement Articles
ULIP Articles
Subscribe to get the latest articles directly in your inbox
Health Plans Articles
Child Plans Articles
Popular Calculators
Here's all you should know about life insurance.
We help you to make informed insurance decisions for a lifetime.
HDFC Life
Reviewed by Life Insurance Experts
HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
1. Provided all due premiums have been paid and the policy is in force.
2. This applies to Income Variant, whereby guaranteed income is paid on survival of Life Assured during the policy term, provided all due premiums are paid during the premium payment term.
Popular Searches
- Term Insurance Calculator
- Investment Plans
- Investment Calculator
- Investment for Beginners
- Best Short Term Investments
- Best Long Term Investments
- 5 year Investment Plan
- savings plan
- ulip plan
- retirement plans
- health plans
- child insurance plans
- group insurance plans
- income tax calculator
- bmi calculator
- compound interest calculator
- income tax slab
- Income Tax Return
- what is term insurance
- Ulip vs SIP
- tax planning for salaried employees
- HRA Calculator
- Annuity From NPS
- Retirement Calculator
- Pension Calculator
- nps vs ppf
- short term investment plans
- safest investment options
- one time investment plans
- types of investments
- best investment options
- best investment options in India
- Term Insurance for Housewife
- Money Back Policy
- 1 Crore Term Insurance
- life Insurance policy
- NPS Calculator
- Savings Calculator
- life Insurance
- Gratuity Calculator
- Zero Cost Term Insurance
- critical illness insurance
- itc claim
- deductions under 80C
- section 80d
- Whole Life Insurance
- benefits of term insurance
- types of life insurance
- types of term insurance
- Benefits of Life Insurance
- Endowment Policy
- Term Insurance for NRI
- Term Insurance for Women
- Term Insurance for Self Employed
- Benefits of Health Insurance
- Health Insurance for Senior Citizens
- Health Insurance for NRI
- Best Term Insurance Plan for 1 Crore
- personal accident insurance
- Annuity Calculator