Mythology & Money

During this unprecedented time and nationwide lockdown, one unexpected thing happened . Ramanand Sagar’s epic series ‘Ramayan’ returned back and getting aired on Doordarshan with the aim of keeping the country indoor which used to happen 33 yrs ago during the episode.

While catching the glimpse of series  , I came across an episode where Kaikeyi demanded the exile of Rama.

The brief story goes like this 

King Dasharatha, Rama’s father, decides to give his throne to his eldest son Rama . Everyone seemed very happy & pleased except Queen Kaikeyi – Rama’s step-mother, the king’s second wife. She wanted her son Bharata to rule the kingdom of Ayodhya . Because of an oath (Praan jaaye par vachan na jaaye’ sort of ) , Dasharatha  had made to her years before, she got the king to agree to exile Rama for fourteen years and to crown Bharata.

There are two lessons which i can relate to financial world from this part of Ramayana.

Importance of WILL & Trust : –

Human behaviour is unpredictable specially during emotions of fear , insecurity . You can see How Kaikeyi became insecure of loosing the status of Rajmata and about her son’s future .  Dasharatha  pleaded with her not to demand such a request but couldn’t stop her . She was scared that if Ram went to become King, Naturally Kaushalya ( Rama’s Mother ) would be Rajmata and she would be subordinate to her . This gave her lot of insecurity inspite  being an intelligent , loyal and she trusted Rama more than her own son Bharat .

Had there been a legal system at that time ,Dasharatha could have formed a trust and made Ram as main beneficiary .

But it is available in today’s time . It is very important , yet highly ignored & given least priority . Wealth Distribution is the 3rd pillar of Financial Planning after Wealth Protection and Wealth Creation . One can make a WILL or form a trust to avoid such unexpected surprises.  In fact, it is not always about dispute . It is important for the smooth transfer of the wealth to legal heirs or beneficiaries .

One can give a time to it now during this lockdown and prepare the handwritten will if not done earlier and then register it once life comes to normalcy.

Committing without thinking :-  

It’s Dasharatha’s commitment given to Kaikeyi which got him to this trouble . Same thing is observed in financial world . Lot of investors sign up for traditional insurance or unit linked insurance plan and commit huge premiums for long period of time without proper understanding of the investment products , thier future cash inflows , their cash outflows towards financial life goals . Any sort of sporadic cash inflow puts an investors into trouble as premiums have to be paid and one can’t exit the product easily as it comes with lock in conditions .The event like current one of global pandemic may create pressure on income . The person having low financial commitment can sail through this event without any emotional & financial burden.

Our Mythology gives lot of lessons on spirituality , life , management , behaviour & so on . However, there are many such lessons which one can relate to personal finance & money management and learn from it to make sound financial decisions in life

Happy Investing !!

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