The geopolitical scenario has always played a crucial role in the success of individual citizens of any country. The Great Depression is a prime example of this. The Great Depression, a worldwide economic collapse that began in 1929 and lasted roughly a decade, was a disaster that touched the lives of millions of Americans—from investors who saw their fortunes vanish overnight to factory workers and clerks who found themselves unemployed and desperate to feed their families.
I recently watched a poignant movie titled "Cinderella Man," directed by Ron Howard. It tells the true story of heavyweight boxing champion James J. Braddock. "Cinderella Man" was a nickname given to Braddock by sportswriter Damon Runyon in the 1930s because of his rags-to-riches story during the Great Depression. Braddock's career was cut short after he broke his hand in the ring, and he struggled to support his family with manual labor jobs. When given the opportunity to fill in for a fight against the number-two contender, Braddock knocked out his opponent in the third round, stunning the world. He went on to win the heavyweight championship of the world, becoming a symbol of hope for Americans struggling during the Depression.
During the tough times of the Great Depression, Jim Braddock visited his former business partners to ask for financial help just to feed his family and kids. This scene is powerfully depicted in the movie. Braddock said to his former business partners, “The thing is, I can't afford to pay the heat and I had to send my kids to live with relatives. They keep cutting shifts down at the dock; you just don't get picked every day. I sold everything I had to anybody who would buy. I went on public assistance at the relief office—they gave me nineteen dollars. I need another eighteen dollars and thirty-eight cents so I can pay the heating bill and get the kids back. You all know me well enough to know, if I had anywhere else to go, I wouldn't be here. If you could help me through this time, I would surely be grateful.”
Even great athletes have to endure such catastrophic situations, highlighting the merciless nature of life. This is just one example of how the geopolitical scenario can affect your financial fortunes. Therefore, it is crucial to have sound financial planning to face life's roller coaster. The great writer Saadat Hasan Manto was absolutely right: "War has brought inflation even to the graveyard."