What tigers can teach us about financial planning
Start pouncing on financial opportunities with these tiger tips
To mark World Tiger Day on July 29th, let’s take a look at some lessons we can learn from the hunting strategies of tigers to apply into our own hunt for financial freedom.
Lesson 1: Be adaptable
Siberian tigers live in temperatures that can go down to -46°C!
Combining stealth, strength, speed and intelligence, tigers are some of the most fearsome predators in the animal kingdom.
They are also incredibly adaptable, having evolved to live in an amazingly diverse range of habitats and environments.
They can also hunt nearly any animal, including crocodiles and elephants; and are equally adept to hunt in the night or the day.
Similarly, we should learn to be adaptable when it comes to our financial pursuits.
Consider changing your saving and investing strategies based on market trends, or even if your income changes or whenever you enter a new life stage.
You should also diversify your portfolio to include a variety of investment options, be it stocks, bonds, ETFs, REITs, property, etc.
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Lesson 2: Be patient
A tiger was once reported to have waited up to 48 hours in one location in order to “take revenge” on a poacher who had shot and wounded it.
Tigers are known for their stealthy approach to hunting. They prefer to ambush their prey, instead of wasting energy on a long and arduous chase. They stalk their prey for hours, hiding in wait for the perfect moment to strike.
Similarly, we can benefit from being patient when it comes to our finances.
We should avoid rash or emotional decisions. Instead, plan ahead and stick to the plan.
Be wise and realistic, and not hope for quick or easy results. Remember investments and saving are for the long-term.
A tool like our Financial Storyboard can help you. It consolidate your assets, goals and protection needs all in one place, simulates life events, before allowing you to see the impacts to your cashflow and make decisions for your financial future. Try it here!
Related article: Financial literacy #3: Consistency aids growth
Lesson 3: Be resilient
There were believed to be more than 100,000 tigers in the wild in 1900.
Tigers are powerful and magnificent creatures, but they also face many threats and challenges. Due to habitat loss, poaching, and human-wildlife conflict, their numbers fell by nearly 95% during the 20th century.
Thanks to conservation efforts however, there has been a gradual increase in the global population of tigers since 2010. Today, there are 5,574 tigers in the wild, compared to an all-time low of 3,200 just slightly more than a decade ago.
With their ability to adapt and finding new ways to survive and thrive, there is hope that the tiger population can bounce back with a little bit of protection for their habitat.
We too can benefit from being resilient and finding ways to recover from adversity. We can prepare for unexpected events and emergencies, and have a contingency plan and a buffer fund. We can also adjust to changing circumstances and opportunities and diversify our income and assets. We can be flexible and optimistic, and not give up or panic. Finally, we should learn from our experiences and work on improving our financial literacy and competence.
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