Kathmandu. Tom Cruise’s recently released film ‘Mission Impossible: The Final Reckoning’ is very much liked by the audience. This is the eighth film in the Mission Impossible series. But, did you know that this action-packed film not only entertains but also offers some important lessons for your financial life. Let’s understand six points in this way.
Scheme: Earns money from strategy
In the film, Ethan Hunt and his team – Luther (Ving Rams), Benji (Simon Pegg), and new member Grace (Hailey Atwell) – make a complex plan to defeat ‘The Entity’. Every step is taken thoughtfully and every risk is assessed. The same strategy works in the financial world. It’s important to make a solid plan if you’re saving for leisure or planning to buy a home.
Text: Divide your financial goals into smaller parts. For example, if you want to save Rs 50 lakh in 10 years, calculate how much you have to invest each month. Study options such as mutual funds, SIPs or fixed deposits and choose investments based on your risk tolerance. Just as Ethan carefully plans each campaign with his team, so you too need to strategize for your economic future.
Trust: Trust financial advisor
Ethan repeatedly tells his team, “Believe me. This faith helps them achieve their goals. Even a trusted financial advisor or currency manager in financial management can be the key to your success.
Text: Do not decide your investment based on information available on the Internet. Nowadays there is a lot of false or misleading information available on social media and websites. Which can lead you in the wrong direction. A certified financial advisory is mandatory.
Misinformation: Beware of misleading information such as ‘The Entity’
‘The Entity’ is an AI in the film. Which creates misinformation and causes people to quarrel with each other. Which breaks faith. Even in today’s digital world, there are plenty of wrong financial advice and scams. So it’s important to be careful.
Text: Beware of ‘Get Rich Fast’ plans on WhatsApp groups, YouTube videos or social networks. For example, plans that offer ‘guaranteed returns’ on cryptocurrencies or stock markets are often fraudulent. Check the company’s credibility, regulatory approvals (such as Nepal Rastra Bank or Securities Board) and return risks before investing. Don’t leave your money in automation mode (like some trading apps). Instead, make every investment wisely.
Risk management: Keep a backup plan on each mission
Ethan Hunt’s team makes several backup plans for each mission. If plan A fails, plans B and C should be kept ready. Luther and Benzie immediately adopt a new strategy when The Entity’s plan to deactivate the source code in the film is threatened. A backup plan is also needed in financial management. That is, risk management is necessary.
Text: Diversify your investment portfolio. Don’t invest all your money in a single stock, mutual fund or real estate. For example if you are investing in the stock market, put some of the share in equity, debt funds and gold as well. In addition, create an emergency fund (equivalent to 3–6 months of expenses) so that you do not have to sell your investment in case of sudden job loss or medical emergencies. Insurance (health and life) is also an important part of risk management. Just as the IMF team prepares for every situation, you should also plan to reduce your financial risk.
Patience and perseverance: Keep a long-term view
In the film, Ethan and his team face a lot of obstacles but they do not give up. After a long wait, the film climaxes in the last 20 minutes when Ethan flies a biplane and completes the mission with thrilling stunts. It symbolizes patience and perseverance. Which is equally important in financial investment.
Text: Economic success does not happen overnight. Volatility in the stock market is normal. Sometimes the value of your investment may decrease, but in the long run (5-10 years), options such as equity mutual funds or index funds can give good returns.
Teamwork: Engage your family and experts
Ethan doesn’t fight alone in the film. His success depends on the support of his team – Luther, Benzi and Grace. Each member uses their expertise (technology, hacking or theft). You should also work together in financial management.
Text: Talk openly about your financial goals with your spouse or family. For example if you are saving for your children’s education or marriage, make sure your partner is also a part of the plan. Apart from this, tax plans, retirement plans, etc. are some other suggestions that can be considered when investing in a company. Seek the help of a chartered accountant, tax advisor or financial advisor for a plan or investment. – with agency support
