Do you need to be lucky for money to come to you? (S1E6)


(Podcast Transcript)

Hey Guys!

Welcome to Season 1, Episode 6 of my Little Saves Podcast on Personal Finance. Every episode we look at one unique aspect of personal finance. Today we are exploring the role luck has to play with us making a fortune.

What do you think of it? Do you think of yourself as lucky? Or considered that someone else was able to attract money with luck and nothing but luck?

Connection between Money and Luck

Let me talk about my life as an example. I started off my career about 12 years back with a salary of about Rs.7000 (about $120 per month). I continued busting my ass for another 5 years at which point of time my salary was about Rs.35,000. At this point my parents forced me to divert a huge amount of my salary into buying a house. They hated me partying 🙁 I never saved a penny during those days. The 35K I earned vanished at the end of the month!

Buying a house and luck

With a lot of money going towards a home loan, I was forced to get out of my comfort zone and look for a job that pays more. It took me a couple of months, but I got the job. People did not say I worked hard and prepared myself to get the job. They said that the new house bought me luck!

Marriage and money

A year or so later, I got married. About a few months after getting married, I got a promotion. Every one said, the new wife brought me luck and that is why I got promoted. No one looked at the fact that I was upgrading myself for over a year and had applied for 6 different interviews before the right one clicked. No one asked me how much I worked and how hard I worked.

Credit for my promotion went to the stars, my time of marriage and my wife!

Child making you lucky

The final event for me was when my child was born. I was walking on a tight rope in terms of finances. My salary was good, but I did have a lot of pressure as I was not supposed to feed one more person. Moreover, as a parent I wanted to give the best of everything for my baby girl.

So again, I continued to upskill myself, got certifications, picked up professional courses and got one more promotion. The whole move took me 2 years of hard work. But everyone said it was because of my daughter that I got lucky and got the job.

Is there something called Good Luck?

Think cricket. You watch Sachin at the crease, he effortlessly swipes and whacks any ball thrown by the bowler. It looks like such a simple shot. In the 30 minutes you watch him, he has not lost one beat or made one mistake. That is why he is considered as a God right?

Well in reality it is not Sachin’s pure good luck, for every minute Sachin was at the crease, he has put in 100s of hours at the practice nets. He worked on every possible ways to sing a bat, on how to tackle wind conditions, pitch conditions, bowlers strengths, fielders lineup etc. All of this together get him that perfect form which you so much adore.

To use a more financial example from the world of business will be Rakesh Jhunjhunwala or Warren Buffet. The news and media only hype about their wealth and success, highlighting when they spend millions on a company saying they bought this or they bought that.

What the media does not say is the number of hours they put in researching, the number of spreadsheet they would have gone through, the number of businesses or companies they analyzed etc.

Net net, what I am getting to is, if you work hard enough you automatically become lucky and attract money. Hard work and meticulous research will bring you more luck in making money than all the gemstones and sacrifices in the world.

There is an age old saying that goes, “Luck has a peculiar habit of favoring those who don’t depend on it.”. So to say it simply, the more prepared you are to earn money and the less you depend on luck, the luckier you become.

Thanks for listening to me guys. Stay tuned to next Tuesday for another episode that looks into another aspect of Personal Finance.

Good bye and Good Luck…hahah.

Here is an article where I detail out my experiences with money and good luck.

My latest investment portfolio update.

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Abhi
Abhihttps://littlesaves.com
Abhi is a 29 yr old Indian, on FIRE to retire by 40. He has been investing and learning Finance for the past 12 years. After completing Mechanical engineering, he started working in a multi-national Bank and grew to become an AVP. Currently with an IT MNC as a VP. He lives in Bangalore with his wife and their 1 year old daughter. In his free time, Abhi loves to game on the Xbox, watch movies, read and blog.

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