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Action -rich film Mission Impossible – The Final Rekaning not only entertains, but also gives some important lessons for your financial life.
The recently released Hollywood star Tom Cruise’s film Mission Impossible – The Final Recking is very much liked by the audience. This is the 8th film of the Mission Impossible Series. But do you know that this action -packed film not only entertains, but also gives some important lessons for your financial life?
In 6 points, know what this film can teach us about smart money management …
1. Plan: Money will be made only through strategy
In the film, Ethan Hunt and his team – Luther (Wing Rames), Benji (Simon Peg), and the new members make a complex plan to defeat ‘The Entity’. Every step is taken carefully, and every risk is assessed.
The same strategy is useful in the financial world. Whether you are saving for retirement, planning to buy a house, it is necessary to make a concrete plan.
Lesson: Divide your financial goals into small parts. For example, if you want to save 50 lakh rupees in 10 years, then calculate how much amount will have to be invested every month. Study options such as mutual funds, SIP, or fixed deposits and choose investment based on your risk tolerance.
Just as Ethan plans every mission carefully with its team, so you should also make a strategy for your financial future.
Just as Ethan makes a complex plan to defeat ‘The Entity’ in the movie, similarly the same strategy works in the financial world.
2. Faith: Trust on Financial Advisor
Ethan repeatedly tells his team, “Trust me.” This belief helps them to fulfill the mission. Even in financial management, a trusted financial advisor or money manager can be the key to your success.
Lesson: Do not take your investment decisions on the information available on the Internet. Nowadays there is a lot of wrong or misleading information available on social media and websites, which can take you in the wrong direction. A certified financial advisor is necessary.
Such as consult with SEBI registered mutual fund distributor, which understands your financial goals and risk profiles and suggest the right investment option. Just as Ethan’s team trusts him, you should trust your advisor.
3. misinformation: Beware of misleading information like ‘The Entity’
The film is ‘The Entity’ is such an AI that fights people among themselves through misinformation and breaks faith. Today’s digital world also has a glut of wrong financial advice and scams. Therefore it is important to be careful.
Lesson: Beware of the schemes of WhatsApp groups, YouTube videos, or “becoming rich overnight” on social media. For example, schemes promising “guarantee returns” in cryptocurrency or stock market are often fraud.
Check the company’s reliability, regulatory approval (eg RBI or SEBI), and the risks of returns before investment. Do not leave your money on automation mode (such as some trading apps); Instead, do every investment carefully.
4. Risk Management: Keep a backup plan in every mission
The team of Ethan Hunt makes several backup plans in each mission. If the plan A fails, then Plan B and C are ready. In the film, when the plan to inactive the source code of ‘The Entity’ is in danger, Luther and Benji immediately adopt a new strategy. Backup plan is also necessary in financial management. That is, risk management is necessary.
Lesson: Diversify your investment portfolio. Do not put all the money in the same stock, mutual funds, or real estate. For example, if you are investing in the stock market, keep some part in equity, date funds, and gold as well.
In addition, create emergency funds (equal to 3-6 months expenses), so that you do not have to sell your investment in sudden jobs or in medical emergency. Insurance (health and life) is also an important part of the risk management. Just as the IMF team is ready for every situation, you should also plan to reduce your financial risks.
Investment should also be a backup plan like Ethan. If the plan A fails, then the plan B and C should be ready.
5. Patience and perseverance: Long -term perspective
In the film, Ethan and his team face many failures, but they do not give up. After a long wait, the film reaches its climax in the last 20 minutes, when Ethan blows a biplane and completes the mission with exciting stunts. It is a symbol of patience and perseverance, which is equally important in financial investment.
Lesson: Financial success does not get overnight. Stock market fluctuations are common. Many times your investment value may be reduced, but in long periods (5–10 years), options like equity mutual funds or index funds can give good returns.
For example, in the last 10 years, the Indian Stock Market (Sensex) has given an average return of 10–12%. Therefore, do not panic in market fluctuations; Give your investment time and review regularly how your investment is performing.
6. Teamwork: Include your family and experts
In the film, Ethan does not fight alone; His success depends on the cooperation of his team – Luther, Benji, and Grace. Every member uses his expertise (technology, hacking, or theft). Even in financial management, you should work together.
Lesson: Talk openly with your spouse or family about your financial goals. For example, if you are saving children for education or marriage, make sure that your partner is also part of this scheme.
In addition, seek the help of a Chartered Accountant, Tax Consultant, or Financial Advisor for Tax Planning, Retirement Planning, or Investment. Just as the role of every member in the IMF team is important, similarly every person’s contribution in your financial journey matters.
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