Neeraj Chopra, a name that has clearly spread across India as well as in the international sports community. Hailing from Khandara in Haryana, the javelin throwing Olympian and track-runner won a gold medal for India in August. NS Tokyo Olympics Highlighted this rare gem of an athlete and brought the nation to the forefront thanks to Chopra. As of August 2021, he has been ranked the number two athlete in the world by the World Athletics Organization. He is also the first Indian track runner and field athlete to win a gold medal for India. Here are some investment lessons that one can learn from a sports star.
1) start the journey early
Chopra started training at the young age of 12. He started training at Panipat Stadium during his spare days to lose extra pounds and get in shape for the game. This set him on the path to becoming an Olympian.
Similarly, when it comes to investing, it always helps to start as early as possible. Though you may not see much in terms of returns in the initial days, persistence and timing will help you reap the rewards of high returns. Just as Chopra started training early so that she could achieve her dreams of becoming an athlete, you need to start investing early to reach that goal of financial security.
2) Do your due diligence
In 2013, Chopra participated in the IAAF World Youth Championships which was played in Donetsk, Ukraine. He failed to qualify for that tournament as he finished 19th. However, he managed to achieve the season’s best throw of 66.75m. Over time, he gradually improved his performance and reached 9th place at the 2015 Asian Athletics Championships in Wuhan, China.
Before investing your money and expecting exorbitant returns, you should pace yourself. Make sure you have the budget to invest comfortably. Check your asset-to-debt ratio and make sure there are no balances in your accounts that need to be paid off. It also helps to know what you want to do with your money down the road, so define the goal.
3) Coaching and Learning
Young Chopra was not always as passionate about sports as he is today. However, under the leadership of Jaiveer of Binjol, who is a professional javelin thrower and it was with him that Chopra initially trained. But things changed when his training partner left for Jalandhar. This stopped his training for a few months
Just as Chopra gets to know his calling and loses something important in the process, investors need to be wary of losing money. At some point down the road, there will be a bad investment. Therefore, it helps to first see and learn what experts do and suggest.
4) Small jerks and withdrawal
In 2018, Chopra suffered a serious elbow injury, as a result of which she had to undergo elbow surgery. This put him out of commission for the 2019 IAAF World Athletics Championships. Despite this, he won gold in the Olympics in 2021.
There is always a way to come back from a bad investment. Stop digging a pit. Investing more money in the hope of improving returns is not a good strategy. It is important to know when to cut your losses and allow your financial situation to recover. As with any recovery, start slow and set your performance expectations at a realistic level.
5) Not panicking makes all the difference
Chopra didn’t get out of control after his injury, picked himself up, started slow and went on to become one of the greatest athletes in recent Indian history. In investing, it is important to accept that things will go wrong, but you should avoid panic buying and selling. In the event that you log into your brokerage account and find that the stock has suddenly fallen 10 percent overnight, it doesn’t mean you need to sell. In most cases, it is better to wait because these stock shortfalls are often a temporary trend, not a long term one.
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