How to retire EARLY in India? | What is F.I.R.E ? | Retirement Planning | Akshat Shrivastava
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- Опубликовано: 17 окт 2024
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This video is for those who want to RETIRE EARLY by following a simple method known as F.I.R.E. method
I explain what steps should you take to achieve financial independence.
Do watch the video till the very end:)
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website dowm
Hey Akshat,
Now what to do if you are suggesting not to invest in Index fund ?😆 🤣
selling course and you tube helped you to archive it.
The problem is saving is not a problem. Problem is protecting that saved money.
You can protect your savings by investing
Saale sab nakli yahi par 😂😂
OMG, so much comment spam!
What nobody tells you is if you create an additional source(s) of income to surpass your job income it doesn't matter if you do not have a huge corpus.
Protecting the saved money is called Investing which is for sure a problem i these times.
I agree with you Akshath - work hard, save, invest, "retire" early, and enjoy life. As you mentioned, "retirement" does not mean stop working. It means - having financial control, financial independence and having control on how much one wants to work. Only possible if one doesn't get stuck in a debt trap / debt cycle. One important point I can add to the points Akshath mentioned is - reduce the dependency on external factors. Have control on your energy, food and shelter - what I mean by that is: have your own house with your own power supply, water, food supply, and transport. How is that possible you may ask. It is possible if you plan well. Have few acres of land - that is the most important thing. You can then have your own house, grow your own food and also have your own energy supply in the form of solar or other means like bio gas, bio mass etc. Have a EV for transport - which is charged through solar. Then how much cash flow you need? Very low. That is easily met by some long term investments. You can afford to have long term investments because you are not stressed for immediate need of cash when markets have a down turn. Apart from that - you can do some form of agriculture (organic, natural, permaculture etc. I am not a fan of toxic chemical agriculture) for your cash needs. You may plant good quality timber plants and watch them grow to huge trees. They can fetch handsome money when you sell them. But real long term - ranging anywhere from 10-30 years depending on the variety of tree you plant. Also it is easy to work remotely now because connectivity is not at all a problem. Though I live in a small village 450 kms away from Bengaluru city I work as a software architect (part time because I need time for activities I like and enjoy). It is possible because of multiple cell phone services and 60 MBps fiber network available even in villages.
Early retirement is great. Visit my youtube channel or visit soilatlast.blogspot.com for more information.
Thanks bro mere thoughts same tumhare jaise hai hope mai bhi tumhare jaisi life jee pau
I totally agree with you. I also have same thoughts "Self sufficient Life Style". Only problem is we don't have Farm and never done farming. But definitely planning to buy some agricultural land and produce for personal consumption.
@@ravip9398 bro ....grass is greener on the other side....Farming looks fancy from distance. Do your homework before plungging into it.
Any ideas about kids education, medical facilites and etc
Just discovered your channel with this video -- I was able to think about my situation and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $90K per year but nothing to show for it yet.
It’s important to do your own research and consult with a financial advisor before making any investment decisions.
I think that is a brilliant idea, I tried managing my stock portfolio by myself and I lost 50% of my savings in a very short period. That prompted me to hire a financial advisor. Since then I have made up to $680K in returns.
A colleague at work also suggested market experts, Hearing you say the same thing struck me. I think i should give this a try, but how can reach a decent advisor like the one you use?
I have worked with a few financial advisors before now but i ultimately settled for Melissa Jean Talingdan. She is SEC regulated and licensed in US. You can easily look her up.
I just checked up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
"if small people are making returns in a good number how will rich people make it so ..."
you earn my respect.
a single line but it takes guts to say that.
Very true bro
This is so true whatever the market is
Wrong! Investing isn't a zero sum game. Wealth is literally created in it, atleast in the long horizon. Short-term mein rich investors ko jyada fyada hoga, but nonetheless, retailers can benefit from the moves.
I followed FIRE. Retired at age 48. My suggestions - have own furnished house, car etc before it. Plan finances & future well depending on your personality & vision- take good insurances, Better to save prudently in Banks & real estate. Be a disciplinarian, be teetotaller, develop healthy emotional relationships and networks. Be a busy bee in keeping your mind young & conscious by making m use of SWAYAM portal. Serve the society. Enjoy happy life with goal of well being❤❤
I am 18 and I have this goal of running a library after I retire and interact with new people everyday, and possibly try to add value to their life in one way or the other..........
Same here
Listening to you is better than doing an MBA degree in today's world.
Lmao no wonder you are listening to him if you had done basic education you had known not to listen him..
Dumbo 😵💫
How to Win at the Sport of Business by Mark Cuban is the book which Akshat is talking about.
Everyone should read this book in my opinion.
I definitely don't want to retire early , but maybe want to reduce working hours by increasing quality hours
You could do CoastFIRE, which means you don't do it for money but for the pleasure of it
Hey Akshat, Sorry but first time I disagree with few of your points on F.I.R.E. I am in my forties and on F.I.R.E movement. It doesn't mean retire early and do nothing. It's Financial Independence so that one should Stop Living Paycheck to Paycheck. following few things I am doing and following from last few years.
We have not changed our lifestyle in proportion of salary increase (Though my salary has increased more than 10X from past few years). Cleared all loans ( liabilities). I don't use any credit card. And to your surprise I even don't have UPI configured in my mobile. Saving around 70% monthly income. Already build corpus for child education and invested. Doing Investments in Index fund, Direct MF, Direct Equity, PF and PPF, Gold, and (Crypto - Thanks to you for this). Currently rented one property but will swap this to Commercial property - Again thanks to you for this. I strongly believe F.I.R.E is possible even in India it's always linked with your habits and control. :) Thanks.
@Arif Tumbagi Are you really understand %. e.g. if you see 30% 0f 1L = 30K but 30% of 3L = 90K and that is enough right :)
Never thought whatever investing decision i am making will match with someone ..Guys this video is GEM...the point 1 & 2 is what you need to do exactly
I had a large portfolio of $3.2M invested in stocks left to me by my late father. I hired a licensed wealth planner, Lisa Michelle Pacillas to handle it for me 3years ago and currently I have my portfolio diversified properly and grown to $5.3M
Oh wow😮… This is incredible. I listen to her podcasts sometimes and I have learnt lots of strategies there too, Does she offer her services to about anyone?
Lisa Michelle Pacillas can be reached through her webpage, you just have to look her up on the internet
I just got word from her. Can't wait to get on the phone, we scheduled for Monday
I just looked up this person out of curiosity and surprisingly she seems renowned. I thought this was just some overrated BS. I appreciate this
scammer scammer telling lies?
F.I.R.E method is great 💡
💯
First youtuber who asked us to watch it at 1.5x speed 😁
Subscribed already
Your way of thinking is way different than most of the people out there. Keep going & never stop making good knowledgeable videos.
I can tell a simple method to retire without any tension. suppose you need a sum of Rs 100,000 per month, You should have a corpus enough to give 200,000 per month from bank FD at 6%+/- 1%
So best corpus required is 5 Crore. One should spend 100,000 and remaining invest in any type of investment. Ideal being Govt. Securities which give 1% interest more than average inflation. Every five years take a portion of investment and increase your corpus to get more money per month for spending.
To how to make 5 crore?
Mba level lectures are getting free In this channel .. keep going sir
Nowadays it’s really hard to save money with rising rate of inflation and uncertain returns from any of the instruments
Hi Akshat,
Wonderful video i would like to appreciate your efforts for this video. I would like to add additional points here
1. we should reduce our thirst for unwanted buying and
2. I think we should cultivate simple living
Thanks
FEEDBACK APPRECIATED👆👆
Be sure to contact the what'sapp line above for more information and consultation on investment..
Dont think to save money for future
Learn how to print money
Learn new skills, do smart + hard work if you want to live life smoothly
Take risk as much as can in your 20s
New perspectives provided.
" To get inflation adjusted returns retail investors have to take a lot of risk by investing in Mutual funds"
Thanks
It was only last week that you were saying in one of your videos, that FD returns were always less than inflation at the time period. Suddenly in this video you are saying the complete opposite.
He mentioned about safety considering the risk of investment
The Mark Cuban book mentioned here is "Life is half random"
Hi Akshat, hope you are well.
My point is, the person who is planning for F.I.R.E will have fair amount of financial knowledge. He/She would know how to grow his/her money and also well aware of the market volatility.
(Answering against your point at around 11:33 onwards). Normal people do not try for FIRE.
Akshat,out of video questions to you.
bhai why would any govt./nation or international financial body accept Bitcoin?
If they really want to legalize it, They could create their own NEW Bitcoin (with some other name) and distribute it accordingly. Currently any Tom Dick Harry is holding it.
accepting current Bitcoin is challenging/impossible for any stable country/financial system/institution.
Firstly we should Earn.
After that
Earn>Save>Use some of the saving to increase earning >then from that saving(a portion) invest in some equity product (mutual fund) some in safe product fd,index fund > remaining keep some cash.
Seems simple..
After having some cash,the rest use to increase your earning etc work equipment
By living frugally, you can achieve financial independence by 40 but guess what, your prime years of life are just gone.. someone, who is making quite good by 40 that he can save 70-80% means he is reasonably good in his job/skill.. can he now slow down and do something else or take retirement? can you also compare the return of 'Life Experience one can get' vs 'working hard, save money, live frugally and retire early'
Explained beautifully . More and more people are starting investing in stock market which means it will loose value.
You are a serious inspiration to me I will retire early, thanks for your informative videos
Odi chellu sahodara....
Amon & Christiana channel name is "Our Rich Journey"
I follow them.
There Videos are superb on F.I.R.E
One of the best videos from you, Akshat. Thanks. Bunch of takeaways and eye-openers.
One man's opinion: You FIRE the day you get your dream job. As a parent, you should help your kid(s) navigate their passion and talent to land that dream job instead of forcing them to be engineers or doctors even if they don't show the aptitude for it. Baki toh books pe books likh sakte hai on how to FIRE, nothing will help. That's what my parents did and the day I landed the job after college, I have always felt what someone who's FIRE'd would feel.
Akshat by watching your video I got a question. where the money has gone from the market. where the rich peoples are putting money and squeezing from stocks. never the less stock market are desgined in a way that it will go up
Thanks akshat, earlier I did not know what role inflation plays on my income, and other stuffs, but after watching ur videos, I have learnt a lot..thanks man!
I am a FIRE aspirant and am not just about holding, rather investing more now 😁🤘🏻
And by the time indian investors hit 70-80% index allocation it will be 2040 maybe, so we are good for now
Life Is Half Random: These Are the Questions and the Answers
Book by Mark Cuban
I have never met a single soul who wants to retire early.
While in 20s = retire early.
While in 40s = I do not want to retire
While in 60 and retired = no one values my experience. I am worthless now.
I think the book is" How to win at the sport of business" by Mark Cuban
Requesting a query... Why cannot we buy Gold ETF than physical gold... To avoid few risks.. pl. suggest you thoughts..
Am 54,was busy with family,now both sons in medical College & IIT,got enough FREE time,so introduced myself to share market. Can I be a bit financially free,in 5/6/7 yrs,with good 😊 stocks in my portfolio?
At 54 you are still not financially free ?
At what age do you want to retire? at the age of 54, you many need large capital to invest in stocks.. to retire financially free.. i.e your monthly exp. is 50,000 than you need 1.5 cr portfolio investment to retire Fin. free.
Conviction in any stock comes from understanding business of any company. At one end you say learn to take calculated risk and at other times people put their money at stake just to beat inflation. Kindly suggest middle path to grow
1. Saving is not a problem. It is our mindset to show others how much can we spend and we loose money and spend more.
2. Start investing in mutual fund and can get 12 to 15 % and even invest if market falls you get more UNITS.
Start investing in debt funds and start increasing it by 10 % you will have more money even if return in 8% .
3. Spending is a personal choice so please invest 1st and then start spending like you pay your EMI in advance every month.
Akshat in 2021: index funds are safer, it's a path to start investing and dca in to index.
Akshat in 2022: index funds aren't safe.
He want you to buy his course
In Indian society top expenses are :
Marriage function
Birthday party
Normal weekend parties
Constructing or Buy home
Now viewers will g rey offended and say whose world has same issue but no , India especially facing this issue … In India marriage is more important than early retirement . Shadi nahi kroeg to log pakaa ke rkh denge , foreign countries has more open culture .
I am planning FIRE this year, from india, commercial properties worked for me. Never bought a flat , got out of trading soon, index funds and closed ended mutual funds was next best that worked for me. You are correct, have to be on a lookout.
I was waiting for this video. Again very practical and easily presented👍. Thanks
Rework is my favourite book of Mark Cuban
Thank you for your comment…👆
Be sure to contact the What’sap line above for more info and consultation on investment. I have a new investment plan I'm sure you will like to be part of
Really enjoyed and learned the other side of the world and the rationale.. thank you so much and keep doing these type of videos..
academically it is okay - in real terms nothing works - because of external forces/factors
We need video on apps you use in 2022 for investment. And is it right time to buy crypto? Im22
When rent takes away 30 % of one’s income, it is a pipe dream to save 70% or even 50% of one’s income.
You are a realistic man, good content in this noisy world. Wish you a lot of success!
One thing that I have realised is that even if I save I can’t say no to my family when they are in need. How can I be sitting on piles of money when my family needs them. Hard to protect saved money for a lower middle class person whose family basic necessities are yet to be met.
Your videos are my daily curriculum.
Yesterday night I was watching your video along with my wife and she says it is very interesting and gives a lot of knowledge.
Thank you for the educative videos.
As usual there's so much of learning in this video.
My very polite and humble suggestion is that next time, you could analyse from different age groups perspective. For e.g. retirement for a person at 30 yrs, 40 ,50&60. Am requesting this so I can learn.
Lastly, swing trade suggestion is very good and hopefully you will teach us more in coming future.
Hey bro..U don't have to be too concerned about the crypto haters and mention the hatred towards crypto each and every time, in all your videos. It is a fact and let's accept it and move on. You just do your thing and don't be concerned about them. Your supporters will always keep supporting you no matter what.
I am 31 years old and already retired at age 31 years with 10 cr rupees and agricultural land which give on rent some properties which also give on rent one marriage palace .... Now I follow my passion indo whatever I want I married last year 👍👍🙏🙏
How did you accumulate 10 cr by 31 ?
@@sahil47 ancestral pass on generation to generation
The level of research you have done to put this video into perspective is commendable... Really you are a gem.
⬆️⬆️ Reach me with the what'sap line above for more information, guidance and consultation. Thanks for the feedback..
Best one..Akshat...
Very Intelligently n genuinely and educational Video 👍
Keep Going ON 🎉
Hi AKshat.....very well explained and love the transparency with which u put across the real facts.Kudos to the efforts u take to justify ur statements from macroeconomic viewpoint. Love the work u are doing and i eagerly wait for ur video on daily basis.Thank u heartfully.
Great analysis akshat. I have been a regular viewer of your videos for sometime. Your analysis of FIRE is bang on .
Great video Akshat. I have been a regular viewer for sometime and found your videos on investment and savings very informative. I am realy interested in investing in startups. But do not know how?
How is bitcoing a hard asset?
Hi Akshat, thanks for an informative video. Even though I understood most parts of it, Id request you to make videos in Hindi also due to already complex jargon of personal finance. It would be so much easier and lesser effort.
Hey Akshat, what do you mean when you say swing trading something as safe as an index? Do you mean getting into derivatives ?
Not everyone wants to retire. Some of us are doing what we really enjoy and are passionate about, and are getting paid for it. We would like to keep doing this till we are able.
I think attaining FIRE means reaching a level when you need not worry about your future and live peacefully. This doesn't mean that one stop doing what they are loving doing. In case of many others like you, you can continue to do what you are doing and still be stress free about future. You may even do many more things in the field you like without worrying failure/ backlash. Hope this clears.
@@Km-qu6uj Hmm. Makes sense.
@@drpichamuthu BTW, what do u do that u enjoy a lot by doing it?
@@NeerajRaghavendra I am an intensive care physician.
Market is so volatile, like how you said. Majority of retailers exit in this kind of market
On top of all this we are charged high taxes on returns,
If you make returns then that money is ours and if you didn't not our fault
Liked the video content.
Although don’t agree with the point where you say linking credit card with UPI is a nudge to spend more.
It’s another proactive step by RBI to accelerate digital payment penetration in the country. Practically every merchant has QR codes today to accept UPI but only a small fraction have card swipe POS, because of rental costs involved. Hence this will improve card usage and further digital payments.
Majority of people started thinking about retirement saving during or after covid only. What ever may be the age, keep investing guys with your risk appetite.
Great content.. Thanks.. Cheers!!
I think that it's important to budget and know where you're spending and don't make stupid buying decision and equally important to learn and invest. Now, having said that it's equally if not more important to live life when you're young and accumulate experiences just like wealth. There's no point in sitting on millions when you're 60 or 70 and cannot do virtually anything and don't have any stories coz you were busy creating this wealth.
I would like to be that person in 60s if I can because to be honest it's not easy now to sit on millions even in your 60s ☺️
1. Spending on ur passion is also investing
2. This FIRE approach is an art of balancing between spending and investing.
@@ListonFermi what?? It's by definition is not balancing, it's requiring you to put most of your income into saving/investments and live extremely frugally. It might work for someone who makes 7 figures coz even half of their income gives them a good life but for most people it's bad.
Sir please suggest to avail early retirement buying flats with emi for renting to avail home loan tax benefits is good or a bad idea ?
Hi Akshat
It will be great if you could talk about investment in gold , it’s returns & tax compliances .
Amazing video.
Hello sir I have a doubt to clarify which remains as a doubt for more than 9 months, no one is there to clarify it
Can u pls say whether can we increase our house rent by 8% every year, coz even the inflation is close to 8%, and can u say how much is a fair one?
Thanks in advance 😊💐💐
Then tenants will move to different house because there is so much supply.
@@RahulKumar-bw9ef exactly..too many empty flats in all urban areas..
Amazing video sir. Great stuff!!
⬆️⬆️ Reach me with the what'sap line above for more information, guidance and consultation. Thanks for the feedback..
Akshat isn't flower it's fire 🔥
I agree with the challenges that you mentioned but disagree overall on your take on Fire. You have to have the mindset first that you are going to fire. Once you have that the first problem of marriage expenses and housing problem will be taken care of. Investment in ETF and index fund while balancing it with debt and bullion will give you decent returns. You have to work hard to retire early that's a given. But the mindset is paramount and you did not talk about it.
Any asset investment is just a mode of transportation in your financial journey. Depending on the goal of your financial needs you take the asset. It maybe ETF, debt fund, or trading. Depends upon the goal, timeframe and psychology of the investor
Loved this video
Make a video on people who are of 40 and want to start savings
A very informative video...can u make a video about how u do ur research and make such a lovely videos.... thank you 😊
No..I want to work long enough n no plans to apply fire strategy.
What is next best alternative option for index fund because in many of financial freedom video their suggest index funds are best option for investing but after throwing light on this video I am getting real fear about my financial freedom please tell me this is not true
sir, the Video is very helpful but I can't understand to invest in what because if I want start investing by my age of 25 which will be 2030 and if this changes started to happen then how can I even make profit from my investment ..
I have few Question in case of middle class people in which we don't have any retail and have no source for passive income
even if we start the search of hard asset by 2030 when I will be able to buy some asset it will cost a fortune to by them and I dont' think I can make returns from those asset even before or after Retirement by my 60s (beocus of inflation )
@Akshat S ㊉①⑥①⓪③④⑥①②⑥⓪ i dont' want reply from scammer like you .....and @akshat Shrivastava you need to see this thing and report them as scam and also alert your audience about it .. and if you can reply to my comment above then it would really be helpful
I do agree with your examples.
My alternate is our 14000sq ft of farm house with 1bhk tiny house 🏘️ near my city I spent much time there which provides me lots of organic veggies fruits chickens and eggs too it helps me saving a lot on kitchen expensive...and I've invested some savings on stocks and FD... when ever inflation surge I'll shift to my farm house and put my house in rent so that I can make extra money....🤷...
⬆️⬆️⬆️ Reach me with the What'sapp line above for more information, guidelines and consultation. Thanks for the feedback........
Sir what would you suggest a student to start off with for ex. what kind of books? or how and where can we find info about investing? how does one get around being novice in stocks and/or crypto? or is it that my career and job will have to do a lot with all the listed things prior to this question. thank you for this video it has helped put things into perspective for me
How I can learn about finances
By books or any course
Suggestions please
Yes finally
I follow them
And no doubt Portugal is a great country
Being able to save 70% of salary for a married person in his late 30s with kids?? There can't be a more cruel joke
depends if you make 10 lakh/month then it's not big deal
Excellent Video!!
The way you compared Debt funds' current situation to Index funds..
Hmmm
There's a chance they find out a way to reduce Index returns...
Hi Akshat, You talked about online businesses in this video. Can you elaborate on this more. What type of online business can be started for generating an alternative income stream. Ideas? Recommendations? Thanks!
This video is FIRE 🔥
Thank you, you just read my mind about views on retirement.
This man is a legend
We can't upload INR in Vauld. What is the options to invest in Cripto?
Expenses are very high. Saving is becoming tough . And expenses likely to increase more
Hi Akshat, how can i reach you directly for investment advise for my starter portfolio? Just getting started and only 10 yrs away from retirement?