I am Happy With Simple Comforts, not Pointless Extravagance

I’ve always been careful about how I spend money, but I didn’t really learn to manage my earnings until I got married. In the seventies, when I started playing badminton professionally, it was my father who managed my prize money earnings. My needs were few: a few good rackets and shuttles. Life was simple in those days. There wasn’t such a great emphasis on intensive coaching, special diets or expensive equipment. My father coached my brothers and me, and we were all in the state and national teams, although only I took it up professionally.

In 1980, when I won the All England title, my wife and I moved to Denmark, where we lived for six years, during which time I played on the professional circuit. When I returned, I realised the need to acquire money management skills. At the time I chose fixed deposits and tax-free bonds because I was looking for security. I’ve never been a speculator, nor have I ever looked for spectacular returns on my investments. My wife and I come from middle-class families and were taught the value of money. We have a comfortable life, go on holidays and spend money on simple comforts. But we were clear that our daughters should learn the same values, where there’s no place for needless extravagance.

With interest rates falling all the time, I realise that money must be managed more prudently and that one perhaps needs professional help. I consult financial experts, and have in the past few years invested in some stocks and mutual funds. I think I’ll need to do more of that over time. But I am very clear that even when I invest in stocks, it’s not with the idea of speculating; rather, I am looking at long-term investments that will appreciate over two to three years.

Interview with Outlook

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