Want to be Raees in real life, you need to diversify your investments and invest in such a way that you get suitable returns in the long. If you want to be rich, focus on these following financial aspects (that mirrors’ Shahrukh Khan’s career).
For good things to happen in life, you need to be patient and give it time. Even Shahrukh Khan started his career in the early 90’s and took several years of hard work to build his career, before he became the Baadshah of Bollywood. You should do the same with your money as well; give it time to grow.
Decide on Your Financial Goals
You need to invest money towards certain goals – buying a house, children’s education, car purchase, overseas vacation, marriage, retirement, etc.
SRK, when he was a struggle, would often say that someday he will have the biggest house in Mumbai…and you know where he lives now. Shahrukh Khan’s bungalow ‘Mannat’ is a popular landmark in Mumbai.
Also Read: Take a look inside SRK’s Rs.2000 crore bungalow.
Take Risks When Young
There are many who think that investing in stocks is risky. But they also give the maximum growth in the long term. Financial experts suggest that you invest maximum amount in stocks (and equity linked mutual funds) when you’re young, and as you grow older, shift your money to ‘debt’ asset class (less risky options).
This is precisely what even Shahrukh Khan did.
At a time, when Bollywood heroes were reluctant to do negative roles, Shahrukh did several negative roles in the beginning of his career. He took the risk because he was young, was confident of himself, and he felt he could stand out from the rest of the heroes.
Diversify your Portfolio
You need to spread your investments (equity, debt, gold, real estate), and not put everything in one basket. As every product may not give the same returns, you need to invest in different products. By investing in different asset classes, your risk gets minimized and you can expect good returns in the long term.
Shahrukh has done a variety of films, but did not restrict himself to acting. Along the way, started his own production house ‘Red Chilli’, did television shows, bought an IPL cricket team ‘Kolkata Knight Riders’. SRK also earns a huge chunk of money from endorsements and appearances in luxury weddings.
SRK had to suffer losses for Ra-one, so its important to diversify your portfolio.
Also Read: Here’s how SRK makes his money.
Proper Asset Allocation
This means that you need to invest the right proportion in the right asset classes (diversifying is important but you also need to do the right allocation of your money). As you grow older, you need to invest in products that will give nominal growth but will keep your money safe. This will give you peace of mind in old age.
Although SRK does a lot of romantic films, he also did offbeat films like Chak-de, Ra-one and now Dear Zindagi, in order to appeal to the actor within.
Review the Performance
In the beginning of his career, SRK did several negative roles, as he felt he could make a better impact. Once he got a foothold in the industry, Shahrukh started doing romantic movies, which eventually made him a superstar. He gradually entered into other businesses as well. These are a few reasons that SRK is still at the top (even after so many years) in the film industry.
After making investments towards your financial goals, you need to periodically track them to see if they’re working as expected. If your investments are not performing well, switch to better performing funds or asset classes. However, you need not review your investments every few days (or even few weeks). Remember, you have to invest long term, and volatility in the short term is part of the game and natural.