Silent Money Killer: Loss of Buying Power

In personal finance, we often worry about losing money in the stock market, dislike the volatility associated with equities or mutual funds, or feel anxious about missing out on a hot investment tip. Yet the biggest threat to our wealth is far quieter and far more dangerous: loss of buying power. It is the invisible erosion of your money caused by inflation - a force that operates every single day, without pause, without headlines, and often without being noticed until it is too late....

min read

Silent Money Killer: Loss of Buying Power

In personal finance, we often worry about losing money in the stock market, dislike the volatility associated with equities or mutual funds, or feel anxious about missing out on a hot investment tip. Yet the biggest threat to our wealth is far quieter and far more dangerous: loss of buying power. It is the invisible erosion of your money caused by inflation - a force that operates every single day, without pause, without headlines, and often without being noticed until it is too late.
Inflation does not take away your capital visibly. It does not reduce the number in your bank account. Instead, it reduces what that number can buy. A Rs 100 note today buys far less than what it did ten years ago. This gradual and relentless decline is what truly destroys long-term financial security. The real damage happens when people invest in financial products that earn less than 10 per cent returns, especially over long periods. India’s long-term inflation averages around 6 to 7 per cent. When you add lifestyle inflation - the rising cost of healthcare, education, housing, travel, and personal aspirations - your effective inflation rate is often much higher. So, if you are earning 5 to 8 per cent on your money, you are not growing your wealth. You are moving backward. This is why low-yield products, despite feeling safe, often end up becoming wealth destroyers. Your money appears protected, but its strength - its ability to buy goods, services, experiences, and opportunities - is weakening year after year. Fixed-income products like bank fixed deposits and recurring deposits are essential, but only for short-term goals within the next three years. Beyond that period, the returns simply do not keep pace with inflation. A few products are a financial mess - they are locked in for the long term with poor liquidity and still give less than 8 per cent returns, which creates major problems in your financial goals journey. To genuinely grow wealth, your investments must consistently outperform inflation and achieve more than 10 per cent returns. For long-term financial goals - whether 5, 10, or 20 years away - only a few asset classes have historically achieved this: Direct stocks Equities represent ownership in businesses. As companies grow their revenues and profits, shareholders participate in that growth. Over long horizons, equities remain one of the most reliable inflation-beating asset classes. Equity and hybrid mutual funds These funds offer equity-debt-gold diversification, professional management, and disciplined investment structures that are essential for long-term compounding. Gold Gold has been a time-tested hedge against inflation and periods of economic uncertainty. Ultimately, financial planning is not about protecting your principal. It is about protecting and enhancing your purchasing power. That is what funds your child’s education, your child’s marriage, your retirement lifestyle, and your long-term dreams. Inflation does not announce its arrival. It works silently. The only defense is intelligent asset allocation and a long-term investment mindset. Your money is supposed to work for you. Make sure it continues to do so - not just in numbers, but in real value. (The author is a Chartered Accountant and CFA (USA). Financial Advisor.Views personal. He could be reached on 9833133605.)

Yoga’s Evolution: A Timeless Journey

Shraddha Deshpande
Jul 24
3 min read

Yoga is not just a practice—it is a way of life, a timeless guide to living with awareness, compassion, and harmony.

Yoga, an ancient practice rooted deeply in Indian tradition, continues to gain global recognition for its holistic benefits for body, mind, and spirit. While the exact origins of yoga are shrouded in the mists of time, traces of its existence date back at least 5,000 years. Some historians even suggest that it could be as old as 10,000 years. The evolution of yoga is often studied through four broad historical periods, each shaping its form and philosophy in unique ways.

Four Historical Stages

1. The Vedic Period

This period is considered the earliest phase of yoga. It is closely associated with the Vedas—the Rigveda, Yajurveda, Samaveda, and Atharvaveda, some of the world's oldest sacred texts. The Rigveda contains hymns in praise of divine forces, often considered the spiritual seeds from which the roots of yoga sprouted. The practices during this era were more ritualistic and meditative, often focused on connecting with the cosmos through devotion and sacrifice.

2. The Pre-Classical Period

Following the Vedic era, this phase includes the technique found in the Upanishads and Vedanta—the philosophical conclusions of the Vedas. This period marks a shift from external rituals to inner contemplation and self-realisation. It introduced concepts like the Atman (soul), Brahman (universal spirit), and the interconnectedness of all life. These ideas laid groundwork for what would later evolve into the philosophical foundation of yoga.

3. The Classical Period

Often considered the golden age of yoga, this period saw the first systematic presentation of yoga philosophy by Sage Patanjali in his seminal work, the Yoga Sutras, written between the 3rd and 6th centuries BCE. Patanjali outlined the eight limbs of yoga (Ashtanga Yoga), which include ethical disciplines (Yama and Niyama), physical postures (Asana), breath control (Pranayama), withdrawal of the senses (Pratyahara), concentration (Dharana), meditation (Dhyana), and absorption or enlightenment (Samadhi). This classical framework continues to influence modern yoga practice and philosophy.

4. The Post-Classical Period

Spanning from the time after Patanjali to the modern day, this phase includes a variety of interpretations and practices of yoga. It gave rise to Hatha Yoga, Tantra, and other branches that focused more on the body as a vehicle for spiritual transformation. This period is also marked by integrating yoga into everyday life and adapting to changing social and cultural contexts.

Yoga in the Modern Era

In the late 19th century, yoga began to reach a global audience. A significant milestone in this journey was Swami Vivekananda’s address at the Parliament of Religions in Chicago in 1893, where he introduced the profound spiritual philosophy of yoga and Vedanta to the Western world. Since then, yoga has gained universal appeal, transcending boundaries of culture and religion.

Indian Philosophy and Darshana

In Indian intellectual tradition, philosophy is known as Darshana, a Sanskrit term meaning "vision" or "insight into the true nature of reality." Indian philosophy is broadly categorised into two streams—Astika, which accepts authority of the Vedas, and Nastika, which does not.

Among the Astika schools, six classical systems stand out:

• Purva Mimamsa

• Vedanta

• Nyaya (logic and epistemology)

• Vaisheshika (metaphysics)

• Sankhya (cosmic dualism)

• Yoga

Of these, yoga aligns most closely with the Sankhya school, sharing its metaphysical framework while offering a practical discipline for self-realisation. Through physical, mental, and ethical practices, yoga serves as a path toward inner liberation—a vision central to the Indian philosophical quest.

The Diverse Paths of Yoga

Though the goal of yoga is universal—union with the self and the divine—different individuals resonate with different paths, depending on their temperament and lifestyle. The primary paths include

Jnana Yoga—the path of wisdom and self-inquiry

Bhakti Yoga—the path of devotion and love

Karma Yoga—the path of selfless action

Raja Yoga—the path of meditation and discipline

Hatha Yoga—the physical aspect of yoga, including postures and breathing

Mantra Yoga—the path of sound and vibration

Each path offers a unique approach, but ultimately, all lead to the same destination—inner peace, self-awareness, and spiritual liberation.

(The writer is a yoga educator and researcher based in Pune.)