Passive Income Of CRORES In 10 YEARS?
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- Опубликовано: 12 сен 2024
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Hello guys, welcome to another episode of Fix your Finance. In today’s episode, we meet Ashutosh who is working as a consultant in the IT sector and is the main bread earner of his family of 3. Even after earning a significantly big income, Ashutosh has multiple loans and his family isn't able to save much. Most of the family's savings and investments are parked in real estate.
In this episode we discuss his income, expenses, loans and liabilities, savings and investments and his goals for the future.
Anshuman tries to help them with figuring out how to manage their finances, plan for goals like buying a house, saving more money. They also discuss the importance of setting realistic goals.
Enjoy this episode of Fix Your Finance Ep no. #88 #personalfinance
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Disclaimer: Neither the guest nor I am a SEBI registered investment advisor. Information shared is only for educational purposes and not investment advice.
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He is earning dream salary, overspending and acting oversmart. He is lucky he met a mentor like Anshuman.
It's an avg salary of an employee who is working in a product based company and having 5 years experience
@@rounak308being average in top category is fine. Right?
@@TheCuriousCurator-Hindi 😃
Over smart for sure, if one is thinking term plan is waist of money its just immature thinking. Will end up paying double premium when he realize the importance by his 35-40 .
Second when you dont factor in your life events like marriage and kids in a plan of 15 years its a utter joke.
Agr koi itti salary mei bhi phone jaisi chizz ko emi pe lera then definitely he has 0 finance knowledge
This episode is more of a reality check for Ashutosh. Anushman, great job! You've given him the right direction.
I think its not arrogance but immaturity. Its good that he is open to learning. I think he will do well financially.
I didn't find him arrogant at all, ashutosh was completely open to all my suggestions.
@@anshumanfinancethe cred money link still doesn't give me access. Can u please tell what to do
@@anshumanfinancehe is calling u arogant or immature
@@sodium-vu7ps😂😂😂😂
Term insurance is not for old age , it's for securing of your family if anything happens to you during ur younger days .
Very well said
We can have other insurance where you'll get the money if nothing happens to you instead of term insurance but in term insurance you'll not getting anything if nothing happens
@@satyajitrajbanshi3620 : Yes bcz term plan the pure insurance product .
@@satyajitrajbanshi3620Buy term insurance only for the insurance part. To get returns invest the money into mutual funds, stocks, gold, bonds, etc.
@@satyajitrajbanshi3620
Do not mix investments and insurances.
Insurance is a simple product. It is only there to provide if the unfortunate thing happens. It is like paying for a good helmet every year.
We would not expect the helmet to return it's cost if nothing happens to us. Insurance is the same. Be glad there's a helmet on you at all times.
Don't get any other insurances than term insurance. Invest all the excess and get great compounding benefits.
I got my first job at 27! He is earning good money. One advice is sometimes we need to listen to experts rather than creating our own arguments like you have about term insurance.
must be a good job
The guests on this show put themselves in such vulnerable situation by exposing their own finances in front of the world. It may sometimes feel that the person in question is doing things wrong but we should not be criticizing them. They are a medium for us to learn.
If you are 60 and your term insurance expired, you should be happy your family didn't have to use it instead of regretting it.
Exactly my thought.. i have a lot of friends who think like this guys
well said
Growing old is a privilege. We should cherish it.
Perfect thought 😅
Being over smart sometimes doesn't help
Most of the times.
His calculation for term plan is absolute bull shit.
If he dies next week the compounding goes along with him.
Ashutosh, just answer this: Forget about living till 61 and not being able to redeem it, What if you die in next 3 years who'll take care of your family's expense? You and your family have big dreams, what if you die in next 2-3 years, the corpus you saved by not taking a term insurance would be somewhere around 1 lakh only🤷
exactly. People want 100 cr in next 20 years & we still don't know about next 1 week
The guy is living on another level. Je just fonnt want to understand the importance of term insurance although invested on lic insurance. Living on dream
When one thinks he js smarter then others. People are fool putting money in term plan and he has cracked the formula. 😂
@@suneeshkachrooHi sir, whats your suggestion on this?
Bro risk appetite is next level, i also earn this much amount but i never bought anything except mutual fund which is currently clocking at 44lacs
What's your age?
@@bmbharathh Ditto for me. MF + SmallCase😅
Me too 😅😅😅😅
@@rgt717 44 Lakhs🙄 great going bro, keep up.
I earn his previous salary of 80-90k, and only buy Mutual fund &. Stocks, and current value is 9lacs, I am 28.
I am 34. I am done with working and struggling. Don't wanna work anymore. Want peace of mind and some basic income to get going. No marriage,no kids. Done with those nonsense as well.
I am in a similar situation buddy. Same age, parents retired and getting comfortable pensions, slightly more corpus (3cr+). But married (happily) and have a kid. Not sure of that final number that we should aim for before we hang our boots.
10lpa pension wth 👁️👄👁️
When did you start investing
How much is your salary? Which company do you work for?
2B$ is cut off
Anshuman knows the risk of software industry. In software keep upskilling, and invest passively. Your earning potential has higher chances than investment return. Otherwise career ends at 40. Software industry has career compuding which other industries dont have.
I like the way that Anshuman says on the face if it's not going to work 😂
Just bring normal people man. Normal people don't earn crores.
Edit: Ok but he needs the advice.
He mostly bring normal people
Spending on Car and Electric vehicle when there's no need and there are thousands hazards while driving vehicle in India then saying Term insurance is scam is another level thinking
his annual motor vehicle insurance would be 35K plus for 20L Car
I prefer to buy bas variant and do the upgrades from market, this keeps the insurance amount in control
Im paying 18k insurance for 10.6 k vehicle. You r coreect
Irony he more insurance for his car then himself. Technically if he mets with an accident he gets his cars value recovered but if he ends up at hospital and dies all he has is a company policy. 😢
It will be more than 45K annually. I have friends paying that much for 18L + vehicles
@@venkatn8262 every 5 laks for 5 years you pay 10k emi , so if you have loan for 20lak for 5 years one would pay around 40k emi .
Hi Anshuman. The most important part of your videos is that chart which shows the breakdown of spending and savings. Please pause for 5 to 10 seconds 😂
and pie chart was more better .
Bhai khud pause karsakte ho na
True
Agree
Much needed guidance for him. Goal has to deeply thought, analysed, feasable and doable. Passive income of 5L can be achieved only if you have atleast 5 cr networth
I would like you do a fix your finance - car related series!
+1
Badi Car lelunga but term insurance nahi..😂😂😂 term insurance and investment is different thing... Once you have accumulated a certain corpus you can always close term insurance and use the amount to invest more..
Plans I see, however the thought process behind plans is not strong, yep retiring early is desirable but once retired what is the plan then? A mind needs to work most of the time to be sane.
I too had though of early retirement but later realised that it will get boring, the struggle of challenging work keeps me going.
I am super impressed with this guy, he might have unrealistic goals, but having that vision at the age is pretty impressive
and how does that help? ambition should date realism to be able to bear fruits
Having vision should be backed by action. Inspite of great earnings, he is not saving 20k per month. Retirement is also miserable as he is contributing minimum to epf.
This guy doesn't even have the basics clear about finance
Wait until he gets married
Just clarify the difference between insurance and investment to your client in some better way. This guy thinks investment is just a better and alternate option for insurance.
Try to understand Ashitosh .. his father is not with him so all responsibility is on him .. if he is trying to secure his family by earning more from his hard work only then we should respect him 👍🏼
Who are these people whose monthly food expenses for 2 people is only 10k inspite of earning 1.5l net per month ,,what kind of self discipline are they adhering to and most importantly why
Bura mat maaniyo bhai, insaan ko ambition or bewakoofi mei farak pata hona chahiye. Some people are praising him for his vision. Bhai itna sar pe bhi mat chadhao ki banda apni aatma bech khaye.
Have a plan, don’t cook nonsense fantasies.
Inflation left the chat! 🤐
Today's 5lakh per month
Would not be the same after 10yrs
& Would not be the same after 20yrs!!!
Emergeny fund saving habit gave me courage to take 1 n half yr break to upskill myself
In today's market scenario its all about keeping myself relevant uptodate
Or else chances of hike decrease, competition is too much
So, we didn't get the full picture here. His mother is also earning, but her income is undisclosed. And if he is taking care of all expenditures, and sending her money, where is her income going?
अय्याशी
Bhai ka dil tod diya Anshuman ne!
Look at term insurance this way:
Why do we hire a watchman? Do we wish our homes get robbed otherwise are we simply paying the watchman?
Good episode 😍 great learning for the guest as well as the viewers.
Dede bhai cred money ka access last 3-4 episode se sun raha hu nahi mila 😅
When he said, he was not sure about PF component at 1:49 shows that he has never checked his salary slip.
Engineer’s want to retire early because they don’t like their working environment and company culture. Its always do or die😞
Why is everyone so toxic here, dude is not arrogant he just went a bit overboard as he was not financially mature .
He is not learning and changing tracks .
People calm down
This new generation of india has this thing to say only shit things about people on internet. Mkst of the thime they try to find flaws in the people and attack those flaws and try to troll them for that but in their real life they are worst then them but they try to act smart on internet...
Good advice and content overall. I always like your videos and have learnt a lot these past couple of years. BTW one big caveat which you should have mentioned to him was, 5 lakhs passive income 20 years later would be more like 2.5 lakhs equivalent 10 years later taking around 7.2% of inflation. That would be another reality check for him.
Only good thing he has done is Solar installation
I think he is smart . At his age I was completely foolish in planning my finances.
Very important information provided in Video. Thank you.
And, I am uncomfortable with the debt servicing ratio of 6% for my car loan. Even though I have set apart an investment in a small-cap mutual fund folio from which the SWP amount is servicing the loan while simultaneously growing by more than 12%.
If you find yourself nearing the end of your term insurance coverage at 59 years and 11 months and feel like you haven't gotten value from it, you might think of stepping in front of a truck to make your insurance payments worthwhile.
Hi Anshuman! When will you give your take on subscriber's finance for which we've filled the form?
Think about before 60 not after it, Term Insurance is for hoping the money you are paying should and should always go to waste and never return.
Great episodes, so much earnings and bad management.
His calculation on insurance vs ppf argument has no Logic. PPF is an investment product & Term Plan is an insurance Product. He is saying that if he will be alive upto 62. Then premium is wasted. Exactly but if unfortunately if he dies next year, even if he has paid only 1st premium. His nominee will get 1 crore!. Seeing an insurance product as an investment opportunity is itself stupid. It's to secure a time period & provide relief to dependents in case of an unfortunate demise. Instead of debating. He can invest in both PPF & insurance. In case he dies, family can avail benefit, if he lives, He can use the ppf returns tax free.
Anshuman, give some Excel related to personal finance please.
As an experienced architect i would agree that architecture as a whole profession is a scam!
The amount of loans Ashutosh has is very high, He should definitely have term insurance. If anything happens to him, the term insurance can safeguard his family.
Dude, I'm earning 9 lakhs in hand per month, still spending like you.
When this guy was speaking about Term insurance What was he thinking?? What if he is dead in 3 years??
One word, OverSmart.
I don't know about cred money. It feels not right to give access of all of your accounts to one app.
3k for fuel coat for Scorpio N ??? Common....3000rs mei 30ltr diesel bhi nahi aayega...matlab not even 250km in a month (10kmpl milege )...
Anshuman, In this episode observed you with some attitude while he answering you with attitude. Jaise ko tysa.😂
If you live & earn till age 60.. You will accumulate enough that claim at 62 will not matter.
Exactly that's the point of term insurance, covering yourself until you are earning. If you still need a term insurance after retirement that means you are already f**d up, even term insurance can't save the misery
One word that comes to mind after watching this: ‘Over Smart’
First time I have seen finance advisor say the realistic approach in youtube bcz all the people only shows how to make one crore without consider the worst case scenario so I like about his honesty to say it's not realistic...
Today yt algorithm show me all the videos like that but this one is i thought more realistic seanrio consider nice work bro...
one of my maternal uncle got term insurance in November paid first installment, later died in may. within just 7 months. his family got 1 cr. now they are able t manage with this fund.
Was there any health issue or natural death??
Sharmaji , there are loads of people even educated ones who lack clarity and understanding of Term Insurance.
28 ka tha first salary 5000 the . Its surprising that he is earning this much at this age.
nice one anshuman ❤
Term Insurance is a scam!!!!.....too much oversmart guy!!!! No use in fixing his finances!!!!
the fact here is his goal is very much realistic with his salary and expected increase but his actions are not aligned with it.
If he saves 70% of his salary and do sip with 10% step up every year and with expected return of 12-14% his corpus should be around 5-6 CR after 10 years or for safe side say 12 year and with bonds can get return of 10-12% pa fetching him 5L per month. He will need to be frugal tho and make some sacrifices. Also if his spouse would be earning then process can be accelerated. Good luck to him
ghanta realstic. tu bhi usi ki category me hai. aur ye 40 me retire ka bakwas band karo sab. 60me retirehone me bhi log free nhi aith paate. 40 me retire hona hai.
@@Mrmaert there is difference between retirement and financial independence. Go and read some books and learn new skills to increase you earning instead of cribbing here. good luck
Good is decided to consult..If he goes like this 10 more years he was done for ever
Would be an interesting episode with a builder or politician to fix their finance/laundering sources, etc.. 😂😂
@Anshuman can you do a session with me. I am 49 years old and am wondering about my future with my current portfolio
Useful.. thank you bhai
Insurance IS NOT an investment tool!
It's a cover till you are bread winner for the family.
Please analysis video for early retirement portfolio in india.with assets allocation? Dividend income? Rental income?
Please analysis dabur vs hul vs tata consumer vs dmart? Which is best for portfolio as a FMCG share?
If makes good use of commercial property to make his monthly expenses and sip expenses then it’s good decision only renting the property is not good decision at least he should have partnership in profit of commercial property to whoever he rents.
What is 12 months jewellery scheme??
in this case - everything is dependent on his IT job which is wayyyyy more risky in today’s market.
Term Insurance is not for 60's its required when you are working.
Nice video again bhai. Keep it up.
Instead of taking huge loans and paying huge EMI for so long period of 15 to 20 years, if some one invest in mutual fund of Rs 30000 per month for 20 years and earn annual return of 12℅ then this amount becomes 2.5 CR.
Anshuman bhai, mere bhi finances fix kar do yaar. Kaise reach out kar sakta hun aapko?
Investment in solar is great choice, upcoming years electricity costs gonna boom up, because coal is extenting.
u know? betting out of ur aukad is wat will make u real wealth. Our parents took home loans thats why we could live under roof today. Taking loans to buy assets should be looked down upon, however, this doesnt apply to buying liabilities like cars etc..
Oversmart and show off attitude
40 mein retire honaahai- show off
Anshuman don’t waste time in these kind of people
Your money guiding tips are very useful
Is video mein Kuch nahi seekhneko milaa
Great episode
Damn seems like a guy with a lot of ego stuck with impressing people and also with half knowledge about investment
Its not difficult to reach that goal in 10 years unless he lose his job, there certain factors can't be factored in present
I don’t think it’s safe to share your banking data with a third party app like Cred for stuff we hardly look at if you are a frugal spender.
I could see myself in him. Its just that im 35. 😢
Same here but half salary
I want the feature of cred money but the app is saying to wait as none of my contact using cred
I think lot of people are getting negative here….just relax….let him speak….u just take a tip and move on…he is earning that much ….most of them giving advice might not be earning half of it…right bro
He would need 24 crore after 20 years not 12 crore because of inflation adjusted purchasing Power of 5lakh rs after 10 year his initial goal
B. C work from home gets 2 lakhs and idhar har roz ghiswa ke travelling kar ke lakh rupya bhi nahin banta.. What is this w. f. h job which pays this huge amount
Many IT jobs bro, try for companies in tier-1 cities, many still offer WFH/hybrid with a good pay
Tech pays even 50 lakh + even with 3-4 years experience.
@@rohitsoni9325 Company,Tech stack, new tech adaptibility ,skills, networks aur bahut si chize depend krtE hai .
Lol 2 lakhs per month har insaan nahi kamata
@@neferpitou3934 har insan ni kamata but try karoge to jarur ek din ho jayega 😁
Cred Money is not accessible to all users right now 😢
Buy Single Premium 2 Cr Policy for 3 Lacs Lumpsum Payment until Age 60.
The guy is assuming he will live till 62. Doesn’t realise that if he pops tomorrow, the insurance will kick in. Insurance to safeguard your family it is not an investment.
How we can get cred money, i used the link provided in the comment
Ik vedio self employed ke uper bhi banao jiske income 50 60k ka ho
Monthly expense calculation jo screen pe aa rha is wrong at the temple expense part, 25k bola 2k nahi??
Excellent video 📹.
Beta , scorpio beech aur woh paisa jo mile aur 32k ki emi gaadi ke liye jo de raha hai , woh kisi home loan ya mutual fund sip mein daal .
So this guy making 0 investments wants passive income of 5l per month 🤡
You did not consider esops?
he got a car just for instagram post coz going by his 3k fuel expense he doesn't even drive 50 km in a month
You need to advise him to sell the commercial property and the fancy car.
Or get a better paying job in the next 1 year.
invest can't be compared with insurance