Investment Mindset or Cost Mindset

Amar Pandit , CFA , CFP

Amar Pandit

A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

It is so ironic that despite talking about investments, most founders in this industry/profession do not have an investment mindset themselves. One of the influencers in the industry that I was talking to yesterday said “IFA’s se Paisa Nikalna Bahut Mushkil Hai. They just don’t want to pay”. Pardon me for being candid on this front, but you need to see the mirror before you tell others to invest.

I see Raju, an IFA from Gujarat (whose AUM is Rs. 6 Crore) willing to invest Rs. 60,000 in solving his real problems but Vinod (from Mumbai and AUM of Rs. 100 Crore) thinking and thinking and thinking (Actually there is no thinking because thinking requires a framework or model). It is just that many of us cannot take a decision on what is important and say NO confidently, so we say, “Let me think”.

What would you say is the difference?

The difference lies in their Mindset.

Raju asked himself “What is possible with this investment?

Vinod on the other hand says to himself “This seems like a cost or I can’t afford this”.

Needless to say, Raju has a winning mindset, really thought (did not fake thinking like others) about what is possible with this investment and took a quick (firm) decision.

Who are you (Raju or Vinod)?