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Stretching towards the impossible

Why setting 'unrealistic' targets may be the ideal approach to wealth creation

The power of stretch targets in investingAnand Kumar

हिंदी में भी पढ़ें read-in-hindi

There's this concept called 'stretch targets', defined as 'a challenging, ambitious goal that goes beyond what would normally be expected or easily achievable.' 'Stretch targets' stretch the mind and make it possible to achieve something you may have considered impossible. Here is something that Elon Musk said when he was questioned about the insane goals that he sets for his businesses, "Stop being patient and start asking yourself, how do I accomplish my 10-year plan in six months? You will probably fail but will be a lot further ahead of the person who simply accepted it would take 10 years." In a somewhat different way, our cover story of the month is about a stretch target for mutual fund investing: can a monthly Rs 10,000 SIP get you to Rs 100 crore? When asked the question without context, 10 out of 10 people would say, "No, such a feat is impossible",