How Much Money Do You REALLY Need?
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- เผยแพร่เมื่อ 1 ต.ค. 2024
- Join us for an insightful chat with Monika Halan, India's first personal finance journalist, best-selling author, and SEBI advisor on investor protection. In this video she talks about the evolution of Indian markets, female participation amongst investor base and how to plan for your financial independence goals.
Wint Wealth: www.wintwealth...
You can reach Monika at: / monikahalan
Fill this form to be featured on Wint Wealth: forms.gle/iuUgM7fyGTfUUiVE9
@WintWealthYT .. please explain the calculation of 26x and 35x in details. I mean is the figure that's coming is a FIRE number at 40 or a number which one must have at age of 60.
@@abhishekbera5157 Whenever you achieve this number, You are financially independent. The earlier you achieve, the Earlier you Retire.
unsure...no feedbacks or updates..may be hidden agenda ?
What about the Alimony and very high monthly maintenance -- divorce is bad for men.....
@@abhishekbera5157 it is calculated like this. First find your current monthly expenses and multiply it by 12 for getting 1 year expenses. Then you should have 35x networth as of now(you should reduce all your liabilities from it) which is nothing but 35 times of your yearly expenses to go for FIRE.
I'm a noob and really want to dive deeper in the world of investing, what is the implication of the Fed's rate cut for new investors?
A Fed rate cut typically lowers borrowing costs, which can boost the stock market. For new investors, it may create opportunities but also volatility-so, balance risk with research and caution, which is why it is important to start with a professional's guidance
I’ve been focusing on a diversified approach to boost my portfolio. Right now, I’ve allocated around 40% to equities, 30% to crypto, 20% to real estate, and 10% to bonds. The key to my growth (545%+ this year) is the CPF (Core-Peripheral Framework) I follow-balancing core long-term assets with peripheral high-risk, high-reward plays. It's all about having a strong foundation while making calculated, bold moves when opportunities arise.
I'm intrigued by this. I've searched for a cpf online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
Kristin Amy Rose is the Texas-based CFA I work with. Just search the name. You’d find necessary details to work with to set up an appointment.
Searched the web and saw her profile and accreditations, someone with great experience I must say, thanks!
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?
I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.
This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
She's known as “Rebecca Nassar Dunne”. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 13 years of experience is certainly striking! very much appreciate it
I’m 48 and just started my portfolio with around $180K. Slowly trying to create significant passive income and manage my Stock Portfolio. how do I invest to deal with markets ups & downs
It's wise to seek expert assistance when beginning your financial portfolio. market is volatile, so professional guidance is so important..
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
Hey friend, How can I work with your Fiduciary?
*Victoria Louisa Saylor* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
spam@@cowell621
“Rebecca Nassar Dunne”’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
pls how can I reach this expert, I need someone to help me manage my portfolio
*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.
Success is not built on success. It's built on failure, It's built on fraustration. it's built on fear that you have to overcome. I pray that anyone who reads this will be successful in life
You are right.!
That is why I had to start forex trading 2months ago and l now am making benefits from it.!
My first investment with Wonghuatrades gave me profit of over $80,000 Us dollar....
And I can even say she is the sincere broker I know....
O' Yes I'm a living testimony of Wonghuatrades
Finfluencers need to see this 5:02, we save from 21 lil by lil, get married and all our savings are wiped out get into lil bit of debt 5 years down the line we get kids and save for house and so on.. so saving is very tough, very easy to say save 40 percent of your saving, but Indians here working from ground up , with no family wealth, supporting parents , living in cities with a chunk of money taken by taxes , its a marathon for us.
No one is denying that its tough, but the problem is that people don't start at all by giving this very excuse and end up increasing their expenses. Even if one is not able to put aside 40% from the very onset, atleast starting with a small amount and keeping at it helps inculcate the habit. I myself only reached 30% I think by the time I was close to 30, having started in my early 20s with just 5000 a month. Also, regarding all the savings being used, its important to bucketize the investments so that one knows which is the bucket one can dip into in times of need or to fulfil a goal. Investing without goals in mind is never gonna help.
I completely agree with you. However we can attempt to save & create side income to get out of the middleclass trap
You are very wrong, this comes from a 24 year old @gjw1wj721
In retrospect I could have saved a lot more - I flipped 4 cars and 2 houses, but anyway sanity dawned on me not much later.
@gjw1wj721 abey chutiye with 30 % tax how can you save 50% of your salary unles your parent made home in city where you work
huge numbers of people want to get retire early which proves they are pissed off with their job roles.
Specially IT jobs 😢
Plus insecurity of jobs - these guys say you will have lots of salary but we are not sure. Not all junior people will go to VP or director
What kind of comment is this? Complete Nincompoop
You are right sir, but the thing is they'll be more pissed once they retire early in their 50s as they won't have anything to do.
When one achieves financial independence, they can keep their job but at the same time be stress free, as if they don't like their job they can quit or do something else, but doing nothing once you have financial issues taken care of feels dumb.
That's not true it gives them power to choose
Ms Halan is the personal finance pioneer in Indian journalism. I'm gratetful for her early columns in Outlook Money and other publications. Thank you for your wise words, Ma'am.
Same here. Used to be regular with olm for long time
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
“Angela Lynn Schilling’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?
I think of it this way - merely putting $1m into a CD at 5%, you're making $50K per year. If you can swing that for the next 10 years, go for it. But then again, if you have to pay taxes on this $1 million, you should consider working for another 5 years
thankfully googled Karen Lynne Chess and was able to schedule a call session with her, she seems very professional with over two decades of experience
Invest at least 15 % of your total net worth in physical gold. It is the best hedge against inflation.
If you are going to retire in India and live by Indian standards YES !!!
Depends on where you retire. If you chose to retire in India or use India as your hub, you are in the top 1%. Have a personal driver, travel comfortably, get access to cheap but excellent healthcare. You can live on earnings from 20% of your savings as well as social security benefits and invest remaining in Equities in US or India. Only thing is first come and live here for three months and see whether India is your cup of tea. Do not choose a tier1 city instead select cities like Kochi, Goa, Rishikesh, Varkala etc which are provincial but has quite a laid back culture but with access to good facilities. Other countries you can look for are countries like Philippines, Thailand, Vietnam [which is another great location], SriLanka etc. Or just hop from country to country in South east Asia.
Thanks Monika!!!
One of the best decision of my life was to pick your book from a thela in New Delhi Railway station just when I was going to join my first job right out of Campus. You saved me multiple future regrets. I always read you book like an elder sister telling me what to do and what not to do.
Truly indebted to you!!
Can u please tell me the name of the book.
@@ARTYIDEASWITHPREETI Let’s Talk Money -Monika Halan
@@hilly_billy9531 Thanks
I was viewing her programs on TV and adjusted my retirement benefits insurance ,employment ppf etc slowly and steadily for last 15 years. At present I have. 3.4 Cr with 40% debt and 60% equity. PPF Self and spouse 50 laks which tax free .My spouse FD 35 lacks and rentel income and pension monthly separate. Madum motivated me to restructuring my retirement corps to Mutual fund from 2009 onwards. 🙏🙏❤❤❤
Monika's Lets talk money is a very good book. I've even suggested to many. I strongly recommend to every citizen in this country. Its just enough to have good financial literacy.
One of the most important concepts in FIRE - the SWR or Safe Withdrawal Rate - was not even discussed during the meeting. Generally, a SWR of 4% is advocated but in the Indian concept, 3% is considered a safe number. Would have loved discussions around this.
It was discussed. They said you should have 26 times your spending which is 4% withdrawal. Even suggested 35 times which equates to 3% withdrawal
If Your wife does not have any financial knowledge here is a quick thing you can do to make her habituated with personal finance: Have her invest in any investment scheme she wants for a small amount say 5%-10% of whatever she is earning. and invest the same amount in any index fund/ETF and track it for 1 year. If her investments beat the index return, that will give her joy and confidence and she will be more interested now. if not, she will be even more interested in finance because it's her money that did not grow as expected. I did that with my wife. and in 3 years(after 1 year) her portfolio grew by 65%.
12:00 girl child should get equal share but spouse getting divorced only for money is scary !! double sided sword
1. Health - be happy and healthy- health insurance
2. Relationships - move out for tours trips
3. Good gratitude towards Society
4. Earnings - money , credibility
Save 5k to 15k for month … according to goals for 20 to 30 years
1 . Fire -5k. Plan Corpus of 50 lakh to 2cr
2. House - 5k
3 . Child education 5k
4 . Vacation or trips - 5k - enjoy vacation for every 3years
Life is beautiful… enjoy every moment of life … Duck of Fire concept
Excellent
Bhai kaun sa house aata hai 5k main? Pg bhi nhi aata in 5k
Save for 20 to 30 years and then buy .. do not follow any one .. please check your affordability it’s depended upon every individuals
@@EVikasamapp5k every month for 30 years@7% rate of compounding is 56 lakhs and after 30 years u cannot even buy a car, forget buying a house. So better start earning more or welcome to beggers class !
3X of annual income at 40, 8X of annual income at 60 funda was too random.. no logic.. makes sense for someone who is in a crawling growth trajectory every year not for high growth rate folks.. For example if in your 38th year - annual income 20L , 39th year annual income 30L , 40th year annual income 50L -- you cant have 1.5Cr at the end of the 40th year because you have more than doubled your annual income within 3 years.. so these generalized numbers never make sense to me.. all these things are very very personal and specific to people, their dreams, aspirations, talent, passion, education, their focus towards upskilling etc .. know yourself well, introspect and any generic gyan should be avoided or not taken too seriously...
Lovely to see a financial advisor emphasising understanding the meaning of life and enjoying your twenties and thirties instead of always looking at opportunity costs
So true!
It is very difficult to be employed until the age of 60 these days in private sector hence the formula of 4X, 5X and 6X at 60 is not valid anymore
Why? Here I am at 58, wondering if I should work till 65. I really don't know why I would stop working, though I have made enough money to last till my grand children's life (as long as both my kids have not more than 2 kids each)...
If I stopped working, I feel I'll start rusting. Work is something that gives meaning to my existence (more than money)...
Being employable is about staying relevant. if you aren't relevant - you are out. Unlike in Govt, where even irrelevant people are tolerated, private sector can't afford irrelevant people. So, keep your skill up to date - or find something else you can do.
As someone who started in computer industry way back in 1980s, I have kept up with the tech trends, earned my management chops along the way, today part of C-Suite... If you are not able to put your years to good use - then indeed you will be forced to retire earlier.
Y is it difficult?
I felt the same especially for fast changing industries like Infotech. I've seen a lot of personnel being laid off for various reasons and when it comes to people in 40s & 50s, there aren't as many positions which map to one's profile and pay as much. This is where she rightly emphasized about skillset, basically one should be seen as a capable leader giving a good overall return for the higher salary.
@@neokarma5736it's not just about skill my dear. There is nothing so exclusive that you can bring in a huge HR world like India. So it's more to do about age/package/industry/wave etc. if a layoff comes, you are one of highest paid on the floor. Count on it they will get rid of you. Your time was different coz MNC would fire US/UK/EU staff to save...bt now Indians have started feeling heat coz no more ppl left to fire onshore. I don't see a single 50 yo in my whole company. It's 500+ staff MNC ofc and same is mostly everywhere.
@@007_Sun_Tzu If by your 50s you are not having the skills to be in a executive position, where you decide the direction the company will take, then you are right - you may lose your job.
If you have such skills in such critical positions - then only reason you will lose the job is because company itself collapses. Otherwise if company keeps running, you will be needed to run it..
Most people don't get to such positions , because top of the pyramid is very narrow and the skills needed to be there aren't hard skills - it is soft skills of managing large teams or markets..
If you have such skill in a steady state company, you won't lose your job till you decide to leave.
Every minute was informative and thought provoking. Mrs Monika clearly showed how a true financial advisor is different from Finfluencers. Kudos to Wint once again.
I have been investing into VPF (voluntary PF) for almost 24 years. I started with a 5% of my basic increase to PF and then with each increment adding 40-50% of raised Basic salary added to it. So if my basic increased by 8% which may be 8000/- …I will increase my VPF by 2000/- or higher. VPF in my previous organisation was max 100% of your current deduction I.e 12% however my presentation company allows upto 88% of Basic.
Good point about VPF is that it adds upto your PF, which is tough to withdraw. % given is good, now a part of VPF interest is taxable but still benefit overpay and the law of compounding is excellent as the corpus increases. Finally the money is secure with no risks.
12:21 The AI father's looks are putting a lot of undue pressure on me! ;)
Me and my wife, we are in our early 30's already documenting our investment details in diary and updating in regular intervals and always planning oru investments together 😊.
Thank you so much for this excellent financial insights. Monika ji is brilliant and one can just listen to her non stop. please more on women investments and financial literacy.
Specially for men and women who have worked entire life and could'nt save due to responsibilities and now with no savings. how to start saving with a small income in 50s .
Thank you mam it was lovely listening to you .
5% annual return is easily thrown out there for illustrative purposes, but not so easy to achieve! Where do i put $500k cash reserve to keep cash safe for next 4 years? My concern is insolvency
I think you're better off with majority investment in S&P500 and uprising equities in view of retirement cos they always outperform. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire
When it comes to situations like this, it’s wrong to engage in a single option. I suggest diversifying into various options with high performance coupled with the experience and aid of a finance Pro will generate bigger dividends and balance volatility.Thankfully, I can attest to the success of this approach seeing my portfolio of $330k grow by 85% in 3 years.
Choosing one course of action under circumstances such as these is incorrect. I believe that investing in a variety of high-performing alternatives and diversifying your portfolio with the knowledge and assistance of a finance professional will increase dividends and reduce volatility.Fortunately, I can verify the effectiveness of this strategy because, in just three years, my $330,000 portfolio increased by 85%.
When it comes to situations like this, it’s wrong to engage in a single option. I suggest diversifying into various options with high performance coupled with the experience and aid of a finance Pro will generate bigger dividends and balance volatility.Thankfully, I can attest to the success of this approach seeing my portfolio of $330k grow by 85% in 3 years.
Choosing one course of action under circumstances such as these is incorrect. I believe that investing in a variety of high-performing alternatives and diversifying your portfolio with the knowledge and assistance of a finance professional will increase dividends and reduce volatility.Fortunately, I can verify the effectiveness of this strategy because, in just three years, my $330,000 portfolio increased by 85%.
This channel posts great content about financial literacy. But if I could make 1 suggestion, that would be to bring out more women on this platform. People underestimate the prowess women have especially when it comes to money and being one myself, I want to get more insights from women Rockstars.
Hey Muskan, agreed and suggestion taken. We'll definitely try to highlight more female investor journeys.
5000 per month is a also a lot of money back then in 2014 or 2010
That is not being said..
Great insights Monika Halan ma'am!
I am in my early 40s and I am trying to teach personal finance to my kids.
Very true like you said, its no less than a life skill these days.
PPF is definetly good long term investment but cannot make crorepati as always limited in many aspects. Rich person are very confused how they become rich. Earn more than 3 times of your need you will become rich is only way to become rich. And one thing is investment is always a roller poster type thing whether it's property or market or anything. To become rich you earn more.
I dont like this victimisation and generalisation when asked questions related to women in finance.
No one talks about the other scenarios also
They just dont want to get into finance.
There are many girls who work outside there home in different place and own there own money, even if they are single and not married still they park it just in account
So just blaming women not investing in patriarchy is just one side of story😊
Don't agree with the statement that you'll earn the most in your 50s. The way AI is evolving, i expect high paying folks to be deemed jobless much much sooner
She did not say you'll earn the most in ur 50s.
@@soumyamondal5164 that means our earnings will reduce in 50s which makes it easy to be 6x.
We will be lucky even if we earn anything at 50. When I just see around I hardly see people who are 40+ in software companies in India. And even if I see few they are in very high position like Architect, Sr Manager, Director and VP. And there will be very few such high roles in a company. Where should other ordinary people go?
Retirement planning is essential. Did you know that in certain regions, you need over a million dollars to retire comfortably?
Indeed, it's quite a sum. I've been retired for three years now, and I'm only 46.
@@EricaWaters-lr6zw Nice...even bots retire now😂😂😂😂
In Islam we cannot take interest as it is haram. So when I was like 33 me and my husband did with our saving was to buy our first 500 yards house. At that time it was only 60 lacs. Now it’s 10 crores. All this years we gave it on rent and got about 5 criers as rental income from it and were able to buy more and more of property, gold . Now Alhamdulillah we have big cars, houses , apartments . Very clear that keeping money on interest is useless. Had we not invested in real estate we would not have reached to this point. Also, in Islam house expenditure is Husbsnd’s responsibility so I used to save 90 percent of my salary and used to help husband property in both our names. Now in 50s I am able to buy property in my own MashaAllah. I now also invest in big brand purses, watches. As their price now is about four times what I bought them four. Real estate is the best investment no matter what
Islam wale 70 bacche karte hain isi lie.
if you listen very carefully, she did exactly opposite of what she was preaching. in the start of the video she said that women should ask questions to their husband regarding where all the money is being invested and @20:46, she confessed that she took whole money of her husband and invested it without telling him what and where! thats a true hypocrite hiding in the skin of a feminist!
Stupid much?
Can we have financial consultancy appointment with madam ? I am a pretty mid-level executive Indian tax payer with very less financial knowledge. I am into 45.. Could you please share your Linkedin or social media contacts ?
Too much overload of content. All are running a show with mic and endlessly giving gyaan
Questions should have been better as she is capable of answering deep personnel finance/investments questions.
Why is this men vs women discussion?? Title is a clickbait
Junk marketing strategy, wint support is junk. Stay safe and stay away.
Monika Halan Ma'am, I read your book let's talk Money. An eye opener. ❤
Read the second book as well. Let's talk Mutual Funds.
I too read that one and gave the 📚 book to my niece to start awareness and save money at the beginning of her career.
Now plan to buy her second 📚 book to read and implement.
Short,crisp...great interview and importantly the interviewer....most interviewers interrupt the speaker like Beer biceps especially...this is good
Yes interviewer is really good
One can easily visualise power of compounding through PPF after saving
₹12 to ₹15 lakh
So you're saying that don't hide your investment from your wife but hide from your husband.
Liked listening wise, short & crisp, to the point discussion. Great interesting questions asked & how it was answered its superb.
She is intelligent, eloquent, humble and hot - all at the same time ! kudos to this lady !
Eloquent matlab?😢
Nowadays everybody can say blah blah on TH-cam. At the age of 30 my networth was hardly $200 or rs 20,000. I was doing my PhD at that time. I moved to USA when was 35, I managed my money pretty well, my wife also helped me. Our savings were in the form of CD. Then at 45 I started learning about mutual fund and of course stock market. Now at the age of 60, my networth well beyond imagination of middle class. I did my PhD in AL which is going subject now and I’m one of the experts in this field. For your information I use AI to analyze stock market not simple math and economist or CA will use.
Hi, I’m a recent IIT graduate starting out my career in Quant Trading, any suggestions on how to start implementing AI algorithms for my trading strategies(any coursework or papers that could help??)
@@Flamefire77 Which IIT, I did from Kharagpur. You need to learn Machine Learning algorithms. Signal processing. You start with small amount, try to fit into the algorithms you mastered. Over the years you will have your own algorithm to deal with stock market, you will have your own sets of algorithms that work best for you. We are all individual there is no set rules.
Hindi bolne Mai Kya sharam ati hai
00:01 Starting a journey in personal finance with Public Provident Fund
02:11 Evolution of personal finance
04:32 Late 20s to mid-30s is a time of great expenses and limited ability to save for retirement
06:36 Plan your retirement by estimating future spending using inflation calculations
08:50 Traditional instruments like NPS and PPF form the core of long-term investment portfolio.
11:16 Encouraging women's financial empowerment and participation
13:22 Women need to take charge of managing their money
15:36 Teach children about financial impact of their choices
17:41 Document your financial life to create a roadmap for your family.
19:42 Earn and spend money with dignity and in a manner that helps you and others.
Crafted by Merlin AI.
3 rd view, I am waiting for this video thanks wintwealth.
A very informative video.....but the part where ma'am is talking about the divorced women being left with just the laundry bills, is she not considering the concept of interim maintenance and alimony payment which is reguraly used to harass and dry out divorced men?
To whoever is reading this -BIG MISTAKE that I have done(as a girl) which was highlighted here .Despite earning more than the partner, the assets were in partner's name, forced to quit job and later, lost all my money due to this financial fraud .PLEASE DO NOT MAKE SUCH MISTAKE .Keep record of all assets, whose name it is on, are you part of the assets , preferably keep your name in single asset(not joint).
Laanaat hai agar 50ke baad bhi Kaam kar rahe tho
Basically, she is saying, "Good luck" 😂
It's not possible to get above ₹10 crore by 26x metric by just investment.
Excellent insights from Monika. Her knowledge and skills in articulating this vast knowledge into common sense advocacy is exemplary.
A note to the interviewer: your questions are comprehensive, but you are not really building on the answers that Monika gave. In many instances, there was probably a treasure trove to be unearthed if only you had built on the answers that Monika gave. Something for you to consider
Thank you Team Wint! Most of your videos are targeted to people in their 20s who are just starting out! Would love to see more videos on what 40 year old should do when it come to Investments! Thank you.
one of the best podcasts on personal finance.. thank you very much ❤
Requesting wintwealth please convey my request to Monika Halan. I read her book let's talk money in Malayalam version but language used by the translation is very tough to new (old) to finance. Requesting to simplify the language in next edition or change the translator and post new translator to ur next books. Yours sincerely VISHNUNATH R
Best podcast on personal finance till she went on that femenist ego trip!
She is a gem in the era of so called influencers who hardly understand finance.
M already 15 times of annual income by age of 40 now. Thanks to mutual funds now next target 10 Cr.
Success is when you're self employed or employed on your own terms. Indian IT companies take ppl for granted, finally when they find the right candidate, he shows them the middle finger and runs off to the West or opens his startup..
I'm a 52yrs Director in a Tech company and I consider myself a high income earner at $350,000 per annum, I have a retirement account account but i still want to explore opportunities for short term gains before i start working less in few years.
If I Die before you I have been maintaining a similar diary from last 30 years and now I am 69
POV: Millenials can’t ever afford to retire
Bitcoin CAGR since inception is 40% in USD terms. Forget crorepati, you'll be a billionaire in that time. lol
Indian stocks when converted into USD terms and compared against Gold prices have done nothing since 1991!
And you are paying MF managers money to just keep your money to have same value as Gold. lol
One dimensional view, not fit for today's work culture. Sure, salaries might peak at 50, but your vivacity does at 30-35. It's downhill after that. If you want it to not go downhill, you will need to not be too obsessed with your salary. Otherwise, enjoy peak salary with garbage health at 50+, when you don't have any energy to do anything about it. 40 is the max age people should work insane hours in a career job till. If you have found something that you don't need a salary for, sure - go nuts. But not for something that will make someone else rich and you middle class.
Few may become tired by the age of 50, but there are other few who at even healthy at 65.
Instead of focusing early retirement, we should focus on healthy lifestyle.
And you can retire early only at the expense of your personal time and health. Why do you want to spoil it in the early age!!!
The buzz around Cyberopolis is real. Just joined their community and it's electric!
To be honest, both the methods of calculating FIRE number is erroneous.
Method 1: 26 times current annual expenses (adjusted for inflation at age 60) would give a very big number in todays date, and it makes no sense unless you're planning to keep that corpus under your bed or a rock starting today untill the day you die. A more realistic FIRE number is 30 to 40 times of current annual expenses. This is because you would be keeping that amount in a inflation beating instrument such as Mutual fund etc for it to self-adjust for inflation with passage of time.
Method 2: To track progress, one must compare his savings wrt his expenses. Comparing savings wrt salary makes no sense because you can't say whether the person is under/ over paid wrt his expenses.
I must say, I'm very disappointed by the role played by the interviewer in conducting the interviews lately.
As an interviewer, one should critically examine the statements of the guests (rather than nod his head in agreement without even understanding whats been said) to curb the spread of misinformation.
@14:00 ridiculous points. Do I need to point out to her how SC & all courts consistently favour providing women with alimony even in cases where women are earning considerably more than their male counterparts.
So per ma’m, laws should do asset reckoning during marital period, & will courts/laws/govt also calculate what’s the contribution by each partner towards such asset collation?
Either the law should be balanced or the opinions should be.
P.s- her underlying point on women managing their finance is very important & absolute spot on. For their personal growth & aspirations, for their wishes & family or any unfortunate emergency , that may befall on that individual, the concept of money should be very important at an individual level.
I have to make 20 crores lol as a corpus.... 1 lakh rs expenses per month, calculated at 7 percent inflation per uear for a period of 30 years..
am I the only one who didn't understand the fire corpus math? So if today my expenses are 24 lakhs inr per annum at age 30. Then at 60 it will be 2.5 crore per annum. So the corpus I need today is 26 * 2.5 crore i.e. 65 crore?? Also how is that similar to the second advice i.e. 3x annual income at 40?
Real financial influencer than the fake sharan habibi
Disagree with the fact that u need 6 times ur annual income as corpus at 40 or 8 times at 60.. So according to her logic a guy earning 100k USD at 40 is already at 600k ..so we wud have tons of millionaires at 45 age .. which is absurd .
Thanks for the great views mam.
You mentioned that wife's salary is being invested on husban's name. However, what about the situation where a man registers his home on the name of his wife.
It is about mutual trust..
This lady is peddling some false feminism telling women to be vary about whose name investments are... when in fact, for every one person when the man puts all investments in his name... there are 9 that put it jointly or wholly in women's name...and the reason for this is to reduce tax liability not to take away wealth from the woman... In fact men should be vary.... when women divorce...they can take half your wealth or more irrespective of how much she makes and whose name investments are on... the man gets nothing of investments made on her name....
Investing should be done goal based coz every one has a different risk profile. I'm a registered mutual fund distributor. Ping me if you need help with investing.
Do not agree that women money in a man account, 😅😅 Ladies are much much smarter now, so smart that they will extract their husbands money and put in their account by all kinds of threat that any lady can . . Men have lost their dominance in India what Ms Halan is talking about, Let's please all do the reality check. . .it is Modern India
Say my monthly Expenditure is 40000 at age 36 , so yearly 5 lac and at age of 60 let's say it will rise to 20 lac (say 9% inflation ) , so one needs about 5 crores ?
There is something not right with the second retirement corpus formula. Because at age 60 the income should logically be at its highest it has ever been for an individual unless some serious pay it’s have happened. Also the life expectancy years or the remaining years is fewer years so the multiplier should be lower or equal not higher than what it was for age 50. Though this was just a guide line its is important for one to take into account the life expectancy of one’s spouse ( normally younger) since that is the time period the funds will be needed for though the lesser spend / expense may be sufficient to address that
Yes fire is crazy in india and this is not a good sign because wlb is missing so they want to retire early
A simple math is to earn returns that equal inflation adjusted current expenditure, YOY. Earning such capital and also keeping expenses costant is real hard😂
Mam, at the age of 40 jobs are Uncertain with Layoffs at the age when you are junior level there is struggling to achieve the position when you achieve your position then there is struggle to hold the position and when you succeed to hold then there are loads of responsibility personal and professional and all of sudden you realise that the Job you are doing well the company is in Loss and the decide to do restructuring and layoff happen either of recession or covid or restructuring reasons...All investigating theories then doesn't matter but he redeem it for existence
Keep your egos aside …. That’s the words from a wise man… loved it …. Need to learn a lot … money smoothens a lot of issues but that’s not the only thing to have..🙏🙏🙏
Every thing sounds good if you have a income .
maths is good on paper when you are in raw brutal market there is a immediate replacement of you
A common person of India can only dream of all this but when on ground reality it not a win win game for everyone
Very informative interview
I am 63 and govt retd, wish I had known these things when I started working at 24 years.
Well, now I can advice my son's better on these matters
One Angle I think about the 40% annuity is that it will go away anyway as Tax if you don't take the special tax benefits of the NPS but I only allocate that much to it. I am happy that 40% blocked money will have my or my heirs name written on it rather than surrendering it today to Tax Man 😊
Also, that money cannot be stolen by anyone. Too much cash means people will come after you for money. People do make mistakes when they are old.
Why do you prefer mutual funds over direct investment in stocks , because at the maturity they will deduct heavy fee as brokerage charges and then the tax you have to pay
dont listen to these bullshiiters, at the age of 40 if you are a good human being and if you are satisfied by your life you are the richest person. money is just number game.
How can some one fix a amount for retirement as government increaseing the tax frequently due to which your wealth will decrease.
If money is power as the wife said then money is proportional to your masculinity dear husband XD
My woman was very good at money, she also stole my gold with her. A real life gold digger. Obviously she was a CA
epf or ppf me invest krna etna aasan hai ghar baite he aap kr sakte ho bas ye raaz ki baat kiseko pta nhi hai 🤣🤣🤣🤣 mujhe bhe nhi
Thought provoking discussion, The ultimate diary was a great value addition ❤
its fine what you said but on the ground reality even though if men want to share assets with their wife in this generation they are scared to their neck because of the laws favoring woman in case of any divorce.
Thank you madam for the clarity in your thoughts. I have read dozen of books relating to personal finance in the recent months..kept them on the table and wanted my 22 year old daughter pick one out! She picked 'let's talk money'❤
Oh ho ha ha hi hi.
Even lion like men with actual manes have put their egos aside when it comes to managing money; who the f are you? 😜
Insurance companies are really bad in Annuaty the fund management charges are too high
My wife is exactly the opposite. I keep telling her about our assets and she is least bothered to listen. 😂
Hello Wint Wealth,
I am grateful for the content that you put on this channel. It's very helpful, but I do have few suggestions. Many of the followers of this page, would probably know these things already (judging by the comments, on this and other videos). We may not follow these practices but we are on our way, my suggestion is try to reach to those women who Ms. Halan is referring to in this video who are either completely unaware about this topic or have heard about it but curious. In my opinion language could be a barrier, the people you bring on the show are smart, highly educated and well connected which many believe are the pre-requisite to financial freedom.
With the risk of being cliché you may be following the India 1, 2, 3 story here. I think you are catering to the Indian 1, who has money to invest and is actually your client so makes sense but there's tremendous wealth with India 2 and India 3. If educate them then it will not just be a service to society and to the nation but will be beneficial commercially as well in long term. Anyways, thanks for these interviews, I have learnt a lot.
Cheers!
Noted. Thank you for sharing your thoughts.