Football is a game loved by many people across the globe. I too was caught on to the 2018 World-cup fever like most others until I saw Argentina, Brazil, Portugal and Spain leave. Today, on the World Financial Planning Day, I was reflecting on the game and began to draw parallels towards my field and realized just like football is all about scoring goals, life is all about meeting one’s life goals. Now, the life goal may differ from individual to individual but the path of meeting the end remains the same for all. Here are 11 things football teaches us on financial planning:

• Take Control: The basic requirement to be able to play the game is to have ball control. Similarly, the basic requirement to be able to play the game of life is to take control of finances. By taking control, I mean understanding the importance of money and managing the same wisely.
• Protect: A player guards himself well before entering the field i.e. all players have their shin guards in place and wear the studs to protect their feet while goal keeper wears additional protection with gloves to protect his hands. Similarly, protection of your assets and wealth comes first in managing finances. To protect is to insure against unforeseen events. The basic term cover and health cover should be in place as soon as you start working. 
• Keeper = Savings: Goal keeping is a key role as you may have seen many keeping gaffes ruined the chances of their teams advancing in this world cup. Here, savings is the key. We must follow the save first approach which means income minus savings should be our expenses. 
• Strikers = Investments: A match cannot be won without scoring goals and to score goals, strikers are a must. If you invest wisely your money grows just like a striker combines well with others lead your team forward. Savings is setting aside a part of your income for future use and Investment is making your money grow.
• Core Team and Substitutes represent asset classes: Every team is divided into 2 parts, first being the core team – these are the 11 core players and second being the substitutes – these are 7 backup players who come in when called for. In an investment portfolio, Financial assets form the core team while alternative assets like real-estate, gold, etc form substitutes. If substitutes are concentrated on more than the core team it’s any one’s guess what would happen to the team and similarly to the portfolio.
• Mix of Players – The core team consists of a mix of players i.e. keeper, defenders, midfielders and forwards each having their own roles. Similarly, a financial portfolio needs to have a good mix of liquid, debt, hybrid and equity investments.
• Penalty Opportunity should be converted – Unplanned surplus received is like a penalty for a foul that happened in the box. This must be invested towards achieving a goal; if not invested then it will be akin to missing a penalty which is most often painful to believe.
• Team Formation – 4-4-2 or 4-3-3.   A strategy is important in a game of football as we saw with Argentina vs Iceland. With Iceland defenders standing tall and holding their strategic positions, the best in business faltered. Similarly, your investment strategies are also very important and should be dependent on the time horizon; short-term goals need to be met through investments in debt products and long-term goals through equity products.
• Keep away from Fouls: A referee is responsible for presiding over the game from a neutral point of view ensuring the game is being played fairly. He issues yellow and red cards when there are fouls made by the players. You and your investment should stay compliant and consistent with the laws of the land as authorities are watching to keep a check on income taxes. Tax planning can aid save taxes in a legal manner and thus keep us away from yellow or red cards.
• Systematic Scoring helps build and beat Records – A player builds his scoreboard not just in the first few matches he plays or only in the last few but by playing consistently in all the matches. Likewise, planning for retirement needs to start from the first payslip and needs to continue in a systematic manner throughout the working life. 
• Coach is very Important – Just as a Coach is responsible for the strategies of the team an Advisor is responsible for the investment strategies. Both come in with their set of expertise with the common aim of aiding the team or client score (achieve) their goals.

To put it in simple words, just live the beautiful game of football day in and day out and you will witness that magic it brings along over a period of time. Let’s start scoring life’s financial goals the football way. Happy investing!