Living on 60 Lakhs Package in India | Fix your Finance Ep 14
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- Опубликовано: 21 ноя 2022
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Hey Guys, In today's conversation we will look closely at the finances of Firoz and Anjum who combinedly earn approximately 4 Lacs per month. We will look at their income, expenditure, loans, and investments.
I'll be talking about savings,upskilling,lease,financial planning for children, buying a used car vs new car, retirement and credit cards. Enjoy :)
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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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Hey guys small correction at 12:22
The amount after investing 20K with a 10% step up every year and 10% return/year would be:
-after 16 years: ₹1,74,91,896
-after 17 years: ₹2,04,87,919
Can you clear the doubt about 50crore fd final output. What fd rate did you considered and how did you calculated the tax please elaborate little
So what certification did they do to get a job like that?
@@rajsigma007 technical coding programming certifications and experience
Hello Bro, may I have your contact number? Currently I am in a major financial crisis
Could you please specify their industry experience in total ?
Are these the ones who post questions in Quora asking is 60 lakhs sufficient to live in Bangalore?
Just rad one of those
😂😂😂😂😂😂
Lol 🤣🤣
Wahi hai
🤣🤣🤣
Dude with 60lak per annum
20 families can live a normal life.
10 families a lower middle class life.
5 families a upper middle class life.
2 families a luxury life.
1 family will have a blast 💥
Seriously!!!!
4Lakh/month is the income with no loans and she is worried about her kids elementary education!
God where are we headed, really feel sorry for the company she is working for.
You should feel sorry for her. They have called their employees 5 days a week and they're not even giving cabs.😂
Now contact this landlord with 70 apartments and 15 bars for a FIX YOUR FINANCE episode 😂
bhai bhai bhai 😂😂😂
Exactly, dude 70 flats and 12 bars
A guy with that huge portfolio doesnt need any help. He should come to give lessons. 🤣
He Must be a politician or have a politician's support
hahahhaha highlight of the show was the Landlords details!!! 🤣
We earn 60LPA. Our only 4 year-old child doesn’t stay with us. Interesting !
😃
Without kid 60 lpa is useless that’s so money centric
I have seen many finance video but really the way you explain with clarity is definitely top notch... Happy to be your new subscriber. ❤️
Something that I have been searching from a long time to understand how others manage salary, cannot really ask openly to a colleague or family, so this sort of video really really helps for newcomers like me who are confused in life. thankyou
Ye mjhe lagta h unique series h ese jisme people are openly talking about their personal finances in front of an expert like you .
It requires courage to openly talk about finances ese
So that's so nice
And it's curios to know how much people earn and how their spending habits are !
Hi Anshuman, The Fix your Finance series of your channel is really great. I love it!
Above all, if you can't see your kid everyday then all this money has no value!
It's time we move back to organic way of living!
We are living on 60 lacs too.. we own a home, car (basic hat hatchback) but we have no loans. I guess a good financial planning is getting rid of obligations first investing smartly and enjoying the present.
Don't mind me asking what do you both work as.?
hope ur kid lives with you :)
I and my girlfriend make close to 80 LPA combined. We are both engineers living in BLR. One of us works in a startup, the other at CRED. We have other couple friends who make more than 1.2 crores working in tech.
While some of these friends are from tier-1 colleges like IIT Kharagpur, I and my girlfriend are both from tier-3 colleges. We try to live below our means, don't own a car, we enjoy traveling, and eating out, but we budget our expenses and try to save everywhere.
Ctc add kar diye ho lagta hai ....🤣
Do you have any certs?
Can u give me your number
@@sagarpawar-ut3xv lol why?
Tier 3 College se pass out hone ke baad bhi 80 lpa ...aisa kya kaam karte ho Bhai..
Doesn’t matter if it’s 60Lakhs or 60 Crores.. This money is worth nothing when you don’t even have time to keep your kid with you and can only see your kid once a week. So freaking sad and pathetic tbh.
We just can't comment on anyone's personal life here. It's their thoughts and their situations to keep their kid away. No parents wants any of their kids to be far away.. everyone have their own perception...
They will earn 4-5 crores in next 10yrs n quit d job
It depends, if you want to make money, you might have to forgo the time of your kid, but if you want time with your kid, you'll have to forgo money....
I can't comment for others, everyone have their own perception but I would not want a life like this
Bullshit lol.
It define the purpose of the series if you are interviewing such high package people it will be really helpful to majority people if you interview people between paypackage of 5-14 lpa where most of the it or normal are earning and are in desperate need of new way to invest
Both of them were making less than 10 lpa 5 years back. They are able to invest more, save more because they upskilled consistently, there's a learning for all of us here!
@@anshumanfinance got your point. I know those big no. Do attract the people myself watching this video for a reason let's see how 60 lakh people manage their money...but when I finished watching and i have been watching your videos of this series which quite interesting didn't find much idea about where to invest or manage your money properly specifically for this 5-12 lpa salary..
Because inspite those fd few mutual fund what are the other ways it would be better if you can shed some light on like t bills, corporate bonds, govt bonds, debts funds(which recently didn't perform ed well) Although I do appreciate you do make your point for chitfunds i.e people should refrain from them
@@anshumanfinance anshuman plz continue to interview these high packages as well..
1. Cz it makes other people in lower salary to aim for big.
2. How it is to manage such lumpsums.. Cz i definitely feel jitna zyada paisa utna zyada confusion.
Thank u and plz plz plz continue to do ao
People who who are earning in 3 to 15 LPA should forget about investing. How much are you even going to earn even after investigation? At this point you should just start a side hustle business and try to grow that hustle in full time business so you don't have to depend on your job.
I am working as a Sr. Consultant in a big 4 company have 27 LPA and all of my adult family members are working as software engineer with family income 10 Lakh per month along with work from home so very less expense. But trust me we all live very low standard life. Life style didn't change for all with money.
Agree with you
Me and my wife at 2020 (i.e. before marriage) earning ~18lpa, now after 2 year of marriage we are currently earning ~50lpa...by upskilling and switches.
Which job profile and what courses you did to upskill
Just sad to see a 20 month old has to stay away from mother and father. 😢
And then chit funds🙄
I don’t know something about them didn’t sit right with me.. why can’t you call you mom to look after the kid when you go to office or get a nanny or work in a company that provides work from home..! And investing chit funds.. and 5K medical expense is expensive !!
@@shreyaraha7481 I ask my parents (including in-laws) to monitor nanny when we go office. Yes my parents & in-laws stay with us 6 months each monitoring our nanny taking care of the child. During that stay we get their full body checkups and all done as well. So its a symbiotic relationship which helps all the parties 🙂👍
You are spot on at 8:38 . I always believed that we should focus on how to increase in the income first .
They just called Anshuman to show off😂😂
😂
Cred 😂
This series gives us clarity about the perks of upskilling.
From freshers to experienced we get clarity on how we can manage expenses and what the market offers as we grow and upskill in our career. I like some terms like impulse buying covered and alot of other informative content mentioned. Overall a really apt series name - Fix your Finance
Great series bro!
No offense, but just post covid there was a huge boom and most of people I know were getting >150% hike. Not necessarily got anything to do with upskilling, but just the market conditions.
Not true..I just upskilled myself last month and I got almost 300% hike...from 8 Lakh to 31 lakhs
@@kaustubhkulkarni1331 Just the right demand and supply probably. Thanks for your views
@@praveenakanakaraj5061 Interesting! Congrats on your hike
@@praveenakanakaraj5061 so what did you learn
One thing i learned in this session
Jindagi sasti hai just jeene ke tarike mahenge hai.🙌
Earning 4 lakhs a month but kids don’t get that parental love .. money is everything in today’s world
Whether they get parental love or not , kids will eventually leave and make their own one day .. how do you expect the parents to thrive later , wait for kids to spend on them ?
@@deepdigitalcontent I am talking about kids you are talking about grown ups … You need to understand that when kids don’t get required parental love that will have lot of negative impacts on relationship between parents & kids
@@deepdigitalcontent why to have kids at first place if these calculations runn in your mind and are not in position to take care of own kids.
@@shaneward2588 looks like you're a male who is only taught to advise females on how they should be living their lives..
Get a life dude , i don't need your suggestion ..
I'll keep advising people on such stuff and i don't need your suggestion on how i should do that
@@deepdigitalcontent where did female come in picture In all this now. You junk person. And by the way you want to thrive late years, but in this context the family has handed over the responsibility to grand parents. So grand parents don't deserve to enjoy their years?
Earning 4 lakhs and says 6k medical expenses as Bengaluru is expensive 😂😂😂😂
😂😂😂😂
For mumbaikars :
I live in vasai and my college is in charni road around (75 km ) I got a concession form college and I applied for a train pass quarterly ( 3 months ) it costed me around 500rs for 3 months I can travel unlimited to and fro but anjum man spend 600 hundred per day difference between a student and a professional working persons 👍
Bhai Teri mehant jaroor rang layegi .
Time aayega
They don't have locals in Bangalore . Mumbai local is one of the cheapest and fastest mode of transportation not only in India but I guess in World
Anjum is spending that much because she's pregnant and the office doesn't give cabs. Otherwise why will she choose such expensive means of transport on a daily basis? If you are pregnant at say 21 and if you're still going to college, you'll still choose at least auto instead of heavily packed buses or trains. 5 months pregnant is no joke.
Biggest struggle which working parents face, is bringing up the kid safely and with correct values. That is also one of the biggest expense of such families. Paying nanny, daycare or moving to bigger houses which can accommodate parents, and good societies so that kid can be safe. That is a big thing on which most parents are not going to compromise and leave the kid to grow up with grandparents. Not worth the money, savings or comfort.
Also, they have very limited knowledge on general finance.
everyone cannot be an expert in personal finance... That's why PPL like you come in picture
50-60 crores for retirement, kya logic tha? 😅😂
They are thinking that their salary will rise 80% every year
Earning 60 lakhs having tv electronics everything expensive and meeting kid at weekends, that’s some life
Someone’s ass on fire earn 60 lakhs and then comment 🔥
Meeting kids at weekend...idk
Not a quality life
@@coconuttree7404 yeah. Why do they stay away from thier kid?
@@farhankhan2482 probably because they are busy in earnings and don't have time to spend with their children that's why handed over them to their grandparents.
@@coconuttree7404 too busy making money instead of living life,no balance in life basically.
Great to see such young couple having big dreams.. keeping much in the savings part is always the best option and best wishes to you both.😊
Bro, I don't know their age but they don't look young. Kind of look like 30+ year but yeah their kid is 20 months old so maybe had the kid late or they are 27-30 years old but look old.
@@melt0794 the guy looks to be in his early thirties while the lady is clearly above 35
You guys are really an inspiration to all of us to upskill.. superb episode👌🏻👌🏻
Fd rates were high few years back that's the half story. If you check the inflation data that was also very high.
My frustrations gets increased by looking into these videos and I feel I have not done anything in my life and I am now 38 old 😢
Life is like that....
38 me too here😅. but I m good on financial terms
Don't b frustrated. Money will never give u happiness. Believe me
2lakhs tv is cheap and 6k medical expenses says Bengaluru is expensive 😂😂😂
Yes materialistic priorities 😢 they are so busy... Goes to see their 2 year old child once a week.
Found another amazing channel. I liked the energy. Subscribed!
They prob meant 50 cr 20 years from now, which is a very reasonable amount to expect for them+parents.
Woah Anshuman great episode!! Also, curious where the shirt is from? 😍
Most underrated content on youtube I would say. Kudos to you for this great content you are putting out there 😃
600 Rs for Ola cabs for 50kms daily. What a joke. I will never ever believe this bs
Ola auto is available for such amount for the mentioned kms.
@@munjeerathabasum7114 Auto main 50km?
Saala 3 ghante din ke ghus jaayenge
Lol I take ola auto everyday. . 12 kms 190-200rs for one side.
Bro please also try to take inflation in consideration when asking the amount required to retire as 50 crores after 20-25 years will not be same as 50 crores today
loved your interviews. Would like you to also ask about family and educational background of people for better perspective.
man I really love these episodes, I eagerly wait every week for the episodes
This is such ab eye opening episode... advance congrats on the baby for the couple!
150% hike during great resignation was common let’s see if they can continue to get these salaries after recession hits India
Yes you are right .. hikes were extremely good few months back but now tech sector is very gloomy. Till 2024 tech salaries won't be hiking much
I am being 13 lakhs current salary im investing 3 lakhs per year without any credit cards
Good content and great learning that upskilling is the greatest investment. Investment in chit funds is good if you trust the provider, like in Kerala there is the government provider KSFE.
Chit fund is worst . It’s like keeping on fixed . Use better option for returns like bonds from government . KSFE may flip in years because government is already doing rolling money with profitable government organizations.
Excellent pay hikes ... Too good
My friend is earning about 40-50 lakhs per month. From affiliate marketing. His expenses are 3-4 lakhs per month
Great video bro
To give such a useful insight
I stopped watching this the moment they said their little kid is not living with them and shuttling between the grandparents houses. Pretty sad to be earning so much and not being able to give time to your kid. Such high salary but feels as if living in a prison. Good luck to them I hope they manage to fit their kid in their daily life.
So quick of you to judge. Did you wait for her to mention that she's currently pregnant? Instead of leaving kids in day cares this is best. My mom returned to work when I was 3 months old. I grew up with my grandparents. It's one of the best things that happened to me. In 5 years the kid will start staying with them regularly and start going to school at the same time they leave for work. The same happened with me. Especially in tech once you take a break it's extremely hard to return, even if it was for just 2 years. In spite of all the "women returning to office" models you see from different companies it's only to maintain good image in market and it doesn't really benefit for women.
love your videos keep it up there is only one mistake i think there is a eco at time of green screen so can be improved on 👍
I went from 144p to 1080p at the time of certifications.
I was frugal with 720p managing my monthly quota😀
Feedback....at end of video you can give summary of their total monthly expenses, income, savings and your opinion on it
Lease is fun and games till it’s time to get your money back
I am impressed that both earn almost equally and such high income. They can retire in 10 years if planned.
Anshuman, thank you your good work.
Anshumann i love this series. I understand its not getting views as expected. But trust me it will get its viewers eventually.... My request is please get good quality mics like beerbiceps podcasts or rode mics.
He definitely need to improve on that.
Anshuman maths ke hisaab se.
50 kms a day * 5 > 24 kms one time when they go to parents.
Technically a retirement budget should be somewhere around 10x your annual income (inflation adjusted). They just 100x'D their retirement fund need with a 48LK collective package :)
i think it shud be 25 x atleast
Man, you are going to grow exponentially!! Keep going !!
Good work Anshuman...
One kid is already living with grandparents, where will second kid live, post 6 months maternity leave? Need to consider upcoming changes in family dynamics in financial discussions
Second kids will also go to grandparents while they earn bucks.
Wohi, grand parents ke paas. Aur kahan 🤣
how is she getting ola bookings daily also isn't 300 peanuts for 25kms in banglore
I m depressed after watching this. My salary is 28k. That's thier petrol expense.
This guy just watch all big fin channels n provide as his own solution and earn money.. good job bro
Great Concept. Very informative
Why go for car on emi when you have 2 lakh + investment surplus ....debt free is the most peaceful way .pause investment for a few months
This shows earning 60lac Or being in top 5% bracket doesn't mean people are good in personal finance. Everyone need financial advisors or can go for free/paid financial courses online.
Sir can you make a series on , basics of stock market (for those who want to do investment but don't know how to start and where to start)
I’ve seen many people in south my friends are doing chit funds. Being that much educated and earning everyone should have finance knowledge.
Informative video 💙
How does travelling 50 KMs every weekday to office as compared to travelling 50 KMs ONLY twice over weekend to meet parents make sense? 🤔
They should reconsider their investment options. Reevaluate them and choose it wisely. Chit fund is not good at all
Chits fund are very popular in kerala. Here in kerala government directly running chit fund firm as Kerala state financial enterprises(KSFE).we kerlaites not feeling too risky in depositing in ksfe
but its not the case in other states
anshumanbhai gives me chill vibes.
Hey Anshuman, I am wondering at what stage do u recommend a home loan? I believe its interest rates have been equivalent to inflation rate..and if it's not now than its never..i used to pay rent of 12k in 2016 and now 35k..i also observed that being on rent increases ur needs and desires with time which makes you switch at to bigger house or good societies every 4 years
When your EMI is ~30-35% of your stable Income, stable being the key word here. Also would suggest to get a term insurance for the primary loan payer just to secure the family in case something wrong happens.
@@anshumanfinance this EMI is considered with how much long period (10 years ) thanks !
Can you please upload more series like couple and a kid family?
I have seen many people who invest in chit funds from the south. The majority of the people invest in chit funds owned by the government employees. The notion of our parents is like if he/she who owns the chit fund commits a fraud (like putting an IP) then he will lose his gov. job. So it's like the government is the security for our chit fund.
the lease deal is great..basically they forego close of 10 percent return of thier capital on average..that is 1.6 L per year or 13-14 k a month which is fantastic as you wont get to rent at that price.
The owner will get lumpsum amount at once without any interest and he will invest in other business and get profit out of it.
The lesser will get a full refund with a small deduction of painting charges without paying any rent
Would be feasible for only lumpsum investors.
Yes, its good if the only if the default risk of the owner is less and we know how courts in india work
The problem with leasing is the gurantee of getting money back from land lord.
They are paying 16lakhs for 3 years lock in period so 16L/36 months=44,440/-monthly on a average.
@@lawrysingh2002 bhai woh 16L return hoga at the end. they are only losing interest on that amount.
FD doesnt give the same returns after 2 cr deposit and it decreases as you go higher. After 8cr banks dont give any returns. So for 1 cr interest on 50 cr amount deposit we have to find other options . this is why super rich people dont do FDs and people have started advising poor people to do the same.
No break you amount into small packets and deposit in different bank accounts
Even 5 cr is enough if invested wisely ... 50 cr is unreasonable
They are expecting that their life/salary will be stable from here
You don't decide someone else's lifestyle.How much one needs depends on their own plans and expenditure.Someone might need 10 lakhs someone might want 100 crores.
Unreasonable to you isn't unreasonable to everyone
Nice video bro ...keep it up ❤️👌🙏👍🏻👍🏻
I learnt so many new things after watching this video
Brilliant work. Can't wait for Mumbai Guest.
Surprised to see how one can manage an ola/Uber for Rs.600 two ways with 50kms round trip in Bangalore 😂
From home till bus stop , she uses ola and then catches public bus 😂
Great convo ❤❤ first time I got ur recommendation 🎉 would love to do podcast with you
Love from fellow RUclipsr 😊
Rightly said anshuman..they don't know about proper knowledge and awareness on investments..chit funds is not method for returns
Excellent content, keep this going!
Not sure how the income is 4 lakhs after tax. Both are in the tax bracket of 25 - 30%. There should have been focus on that as well.
There is one suggestion, if you ask people how they become suggest like here you ask how they update themselves, like 8 LPA to 29 LPA then please ask them relevant query for the users like which technology you are working, and which courses you did and also from where and what is the cost of course and how they manage and all. Please ask relevant questions so IT field people take lessons and do the same . I hope you understand me. Thank you ☺️
All the answers are their. What courses they did and how much it cost.
This is great content. Good job, @Anshuman. It is evident how relevant and useful this content seems to be for users. The format, with Fatafat Finance, is a great hook. Fatafat Finance is actually a good way for viewers to understand more of the psyche of the hosts(people who are being featured in this video). The fact that the series hosts real people, the incentives to watch the episode until 80% (No logic here, just my personal experience. Hence, the number is arbitrary, and represents an above average completion rate). I like Anshuman, too. He's polite and respectful, lively, and comes across as a chill guy. Somethings to consider / Suggestions : 1. Can you share the data in a tabular format i.e a summary of the numbers discussed, at the end of the video? One downside is that watch time/completion rates can reduce, because the most relevant information outside of the numbers discussed, are the names, age and what they do. 2. Dive deeper into professions, upgrading one's skills of the people being featured. 3. Interview folks with diverse mindsets, and desires. For eg : couples with one person working, or, people with alternative careers, folks who don't want kids etc.
Thanks, for your content. I enjoyed watching them.
I don't agree with your last point where you said 40Crs is way too much for retirement, Let's say the couple would retire after 30yrs & how can you forget inflation of ~8% per annum? what was the price of petrol 30 years back & what's the price now?
Hey anshuman, do you have some video where you tell about some books we can read to know more about investing ?.. would love to read some good books and improve my financial knowledge
Hiii
According to me
1. Rich dad poor dad
2. Psychology of Money
3. Learn to earn
4. One up on Wall Street
5. Cash flow quadrant
6. Richest man in the Babylon
7. Millionaire fast lane
All also advise u to read basic economics both microeconomics and macroeconomic
These stuffs helped me so I’m sure these stuffs might help u too
All the best 😊
@@muximaginedemux Thanks a lot!
I didn't understand the Rent v/s Lease thing. In this lease situation, isn't getting just 16 lakhs for 3 years (to be returned after tenure ends) a loss-making proposition for the home owner? Could someone explain?
The logic is that the owner is getting a big amount at once and he can use the amount to earn a higher income than what he would have got as rent
The owner will get lumpsum amount at once without any interest and he will invest in other business and get profit out of it.
The lesser will get a full refund with a small deduction of painting charges without paying any rent
Would be feasible for only lumpsum investors.
I would argue that the lease system is better than the rent system as the lumpsum can be put into a debt fund and earn 7% compared to the 3% that an average residential property returns in India. An added benefit is that while renting the landlord is responsible for repairs, but in leasing the "ownership" is transferred and hence the lessors shall be responsible for maintenance.
@@avishjha4030 3 percent is on entire property amount..7 percent will be on lease amount which is much less. it is useful only if the owner is putting in business to generate 20 pct returns.
@@avishjha4030 the maintenance and society charges also need to be paid by the lesser I belive. They deduct some amount while vacating for maintenance
It’s okay to travel for 50km each day but not ready to keep the kid with them. Not judging them but not the life I look forward to.
I got much interest in the landlord than these couple 😅😅
Loved the episode ! audio needs fixing - bit loud and painful on the ear.
With 60 lakhs long term investment u can get 60 crore return in 16 years.... But should trade with 5 or more companies portfolio..😊
Whats the point if u see ur kid only once a week... My wife n I earn similar amount but our kid stays with us.
Money cant buy intelligence and general understanding of what is right for the family. They are spending 1 lakh for goa travel, gadgets and other show offs. Their expenses are so high, god forbid if they lose their job they dont have fallback plan. Tv on emi, cc bill ..... totally wrong example.
Anshuman sir the education figure is bit off I feel.
Because In 2016, MBBS at Manipal University was 40 lakhs, MD Radiodiagnosis/MD Dermatology ( most sought after specialties) were 60 lakhs.
As of 2022 MBBS is 70 lakhs and MD Radiodiagnosis is 1 crore.
And most medical Colleges are even more expensive. DY Patil MD Radiodiagnosis fees is 1.8 crores and mbbs is around 1.2 crores, increasing by 10% each year. With riding competition, this will get too expensive as well.
What modifications would they have to make to this to prepare In case their child decides to pursue medicine?
But what if there children dont want to be a doctor and choose to have a life😆 just joking
Bhai pehli video me subscribed. Quality content 🤌🏻