My journey to financial freedom started early on. I was fortunate to understand the value of money at a young age and began saving from my very first salary. But it was not a linear or smooth journey, it was interspersed with a lot of trials, learning and most importantly, a persistent approach to keep going.
In my initial years, I followed a principle of ‘saving before spending’. No matter how small or big my salary was, I made sure a certain portion of it got saved first, even before I thought about my monthly expenses. I caught on this early adage, “It’s not about how much you earn, it’s about how much you save,” and this always echoed in my mind.
Gradually, I realized that just saving money wouldn’t be enough to achieve financial freedom. So, I started learning about investing. I dipped my toes into the stock market, initially getting my fingers burned, but eventually understanding its dynamics. I followed a disciplined approach, regularly investing, not getting swayed by market highs or panicked by market lows. In fact, I looked forward to those market downturns, or the ‘sales’ as I like to call them. They gave me the opportunity to buy more of what I believed in. The 2001 Dot cum bust, 2009 Global Financial Crisis were significant moments when my conviction was tested but i managed to keep the investments in and in fact double down.
Over the years, I developed a deeper understanding of delayed gratification. It’s not that I didn’t enjoy life or indulged myself, but I understood the trade-off between immediate pleasure and long-term benefits. I chose to drive a modest car and live in a modest home for a longer time than many of my peers did, not because I couldn’t afford better, but because I prioritised my financial independence over a higher lifestyle.
Of course, this didn’t mean I deprived myself of happiness. I spent on experiences, like domestic and foreign vacations, more than on material things. Small expenses, like the occasional indulgence in a fancy cup of coffee or dinner at a nice restaurant, were never a stress for me. I tracked all my expenses but did not obsess over them. I believe that while it’s important to save, it’s also important to enjoy the journey of life.
[Article below from the June 2007 issue of Business Today, which featured the early phase of my financial journey]
My career too played an essential role in my path to financial independence. I kept enhancing my skills, took on new challenges, and gradually moved to higher value-added roles. By my mid-30s, I made it to the CXO level. While my first job or the next, didn’t bring mega luck with ESOPs, my hard work paid off in other ways. I scored in singles and doubles, not bemoaning the fact that i did not get windfall ESOPs. As my income increased, it fueled my savings, which I directed towards investments.
But the real magic started happening after the first decade. That’s when the power of compounding began to show its effects. The investments I had been nurturing for so many years started to bloom, and I began to see the fruition of my financial discipline and patient investing.
It’s been a journey of dedication, discipline, and consistency. It was never about trying to keep up with the Sharmas or the Vermas. It was about understanding my financial goals, working towards them, and enjoying the process along the way. And that’s the story of my journey to financial freedom.
So, here I am today, having achieved financial freedom. Having climbed the summit, my mission is to help others get there; hence i founded JamaWealth.
