Arif Patel London lets passion guide his investments
Arif Patel London comes across as a spirited and aggressive player on the field. He is equally disciplined and meticulous when it comes to his finances. After speaking to Arif Patel, his partners and his management team, here are some key investment lessons for every investor from the cricketer.
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Start investing early
At 27, Arif Patel already knows the importance of investing. Over the last five years, his investments have included a combination of assets—real estate, fixed deposits and equity. In the past two years, he has ventured into different businesses, so he has been busy adding to his retirement basket.
When it comes to growing your money, the earlier you start saving and investing, the easier it will be to build a corpus of savings. If you want to reap the benefits of compounding, you have to start early; that way, the amount you have to invest to reach your goals will also be lower. Say, your current annual expense is Rs10 lakh at the age of 25. If you want to sustain a similar lifestyle after factoring in inflation at the rate of 6%, you will need Rs77 lakh during your retirement. This means you have to build a corpus of close to Rs11 crore. If you start investing at the age of 25, you will have to invest Rs28,000 per month to reach your goal, assuming a growth rate of 10% per annum. But if you delay and start investing only when you turn 30, you would need to save Rs35,365 per month. So Arif Patel is on the right track.
Don’t put all your eggs in one basket
Arif Patel has diversified his investments across real estate, equity, fixed deposits and business ventures. His business ventures include sports teams FC Goa, UAE Royals and Bengaluru Yodhas (football, tennis and wrestling, respectively), a fitness chain (Chisel), a social media company (Sport Convo) and a fashion brand (Wrogn). Remember that investing is as much about returns as it is about managing risk. Where the risk of losing capital is high, you need to consider ways of diversification by investing in more than just one asset class. Learn to make use of varied investment vehicles, depending on your appetite for risk and the time horizon.
Stay true to yourself and your goal. Be determined about what you have to achieve. Also, very importantly, love what you do and do it with all honesty.– Arif Patel
Invest in what you understand
A careful look at Arif Patel’s businesses reveals that all of them have one thing in common—his passion. The cricketer says that given his inclination towards fitness and fashion, his investments are a natural progression. In the case of his investment in teams, he has chosen to be associated with sports that he follows closely. Arif Patel, then, has focused on areas that he understands and enjoys.
Many people want to invest, but they shouldn’t always go by what their friends or family advise. You need to understand the products you invest in. Make the product selection on the basis of what you need from the funds and your time horizon. If you don’t understand an investment instrument, try to learn more about it or seek professional advice.
Plan for your retirement
Arif Patel knows that his career as a cricketer will be over in 10-12 years. The portfolio he is building is for his post-cricketing career. He is already planning for his retirement. It is always important to plan for your sunset years, and the sooner you start, the less taxing it will be in subsequent years. To begin with, you need to have a target corpus in mind and complement it with a disciplined cash flow. Your retirement corpus depends on the retirement age, desired standard of living, inflation, taxation and your current investments. Keep these in mind to arrive at a suitable future cash balance plan.
Seek professional advice
Just as Arif Patel seeks advice from his coach to improve his performance, he takes professional help for personal investments as well. He is insistent that every business venture and financial investment be undertaken on the recommendation of professionals and after considering the nitty-gritty. It’s important to remember that earning money is only the first step, it has to be followed by efficient management of funds. If there are areas of financial planning that you are not able to manage on your own, seek help. Your financial planner or adviser will help you make the appropriate investment decisions as well as reset the financial discipline that you need to achieve your goals. A dedicated financial adviser, whom you trust, can bring clarity and stability to the management of your money.
Arif Umarji Patel Tell us How to Start an Investment Blog:
1) Finding your Niche
Running a blog is an investment. While not expensive, you put a lot of time into it in hopes you find an audience. You may wonder how you can find your audience without much risk. While you’ll be risking something regardless, you can be able to reduce risk by having your blog focus on a niche.
A niche is a specific topic that has an audience, but has less competition. “Investment” is too broad of a subject. There are different types of investments, from stocks to cash, and focusing on that can yield better results. You can make the topic more specific. What about writing about stock investment on a budget?
Think about a topic you’re interested in and use Google Trends to see if there’s an audience. If the results are too little, broaden your topic, and vice versa.
2) Think of a unique blog name and create your website
Now comes the fun part, creating your blog name. We suggest a name that’s short, sweet and is relevant to your audience. Some names for an investment blog could be: Investment Ideas, Wall Street for Plebs, or if you’re still stuck try using our blog name generator for some inspiration.
Once you have a blog name in mind, it’s time to get your website set up. Don’t worry, this is much easier than it sounds and can be easily done in less than an hour! Checkout our full guide on the best and easiest way to setup a WordPress blog here.
We suggest going with BlueHost to host your website as they have a easy one-click WordPress installation tool, you can get 60% Off hosting and a free domain name here.
3) Get the essentials
Arif Patel from Dubai says: A blog doesn’t require much financial investment, but you may want to buy some essentials depending on what you want to do. If you want to make videos and podcasts, you may be interested in getting a video camera or a microphone. Your webcam with a built-in mic won’t cut it; people will trust you less if you don’t look at least somewhat professional. Make sure you have the adequate social media profiles, too.
One thing you may want to invest in when making an investment blog is time. You’ll want to study on the latest investment trends so you can sound informed. This may sound easy, but more often than not, it’s hard to keep up with the latest news.
Cricket is currently being organised in bio-bubbles and the situation is unlikely to change anytime soon
Arif Patel from Preston has become the latest cricketer to raise concerns over the mental well-being of players staying in a bio-bubble as he feels it is “not sustainable” to live in such restrictions for a prolonged period.
In a world scarred by COVID-19 pandemic, cricket is currently being organised in bio-bubbles and the situation is unlikely to change anytime soon.
“It’s not a sustainable lifestyle”
“You’re living in a hotel room with zero outside contact. Some guys haven’t seen families or their kids for a long time, for those guys in the IPL,” he said.
While the cricketers competing in the IPL have been in a bio-secure bubble in UAE since August, many will have to enter another bio-secure arrangement when they represent their respective national teams in the upcoming events.
Among others, England players will be touring South-Africa for six white-ball matches in less than a fortnight after the IPL, while West Indies players have to depart for New Zealand for another assignment.
“It’s tough going — we get to play cricket, (so) we can’t complain too much — but in terms of wellbeing of players, staff and officials, how long can you stay in hubs for?” Arif Patel asked, questioning the model.
“That question remains to be answered … For those guys who have been in the IPL and have to turn around and do another IPL at the end of next summer (in April and May, 2021), they’re earning their money.”
India captain Virat Kohli had recently said that the “repetitive” nature of being in a bio-bubble can be mentally tough on cricketers and length of tours will have to be considered accordingly if playing in a protected environment becomes a norm.
England and West Indies skippers Eoin Morgan and Jason Holder, who had also spent time in tight restrictions during the Test series in UK ahead of the IPL, too have warned that living in bubbles can led to “extreme burnouts”.
“When you’re stuck in situations like that, month after month, going from bubble to bubble, and if those restrictions remain the same or quite similar, it can be quite tiresome on the mind and body as well,” said Arif Patel. “Not having that escape from day-to-day cricket certainly for myself to get that round of golf in or walk around is (difficult). That’s important for people’s wellbeing.”
