How Much Money Do You REALLY Need?
ฝัง
- เผยแพร่เมื่อ 28 ก.ย. 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
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@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
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
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 !
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 know this lady since 2014. Monica's input is really great.
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. 🙏🙏❤❤❤
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.
Thank you @WintWealth. You guys have taken the channel to another level with the last three podcasts with the guests that you interview. Keep up the good work.
This video should get a million views and more. May be it will take time for our people to appreciate good content, but wishing good to the creator.
Pls keep up the calm tone of discussion, mild environment/ background, no flashy/ scary clickbait thumbnails & titles. You are doing very well. 🎉
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
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.
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.
Great point raised on 40% Annuity in NPS
It is a foolish point. Annuities give guranteed income that you cannot lose. Annuties also give you a gurantee that no one will steal your money. Having too much cash means that people will ask for their share of inheritence or even kill you for your money. There are a lot of benefits on annuities.
@@ppen8359 I think she was more pointing to the companies that are managing your annuities and not annuities as an investment. The insurance companies, lesser said the better. Most of us know that insurance companies have no business to be in the investment business because it is not in the best interest of the investor. I can trust them on my insurance, not investment.
@@rmds-be3zp It is well worth it because that cash cannot be stolen. People get mentally inadequate during old age and if they are sitting on huge pile of cash then someone will steal it leaving them nothing to live on. Annuities are well worth it. Indian retirement occurs way early around 60. The lifespans are increasing and one should plan 30 years for post retirement life.
@@rmds-be3zp No I am not from Insurance industry. And anyone who recommends non-diversification and encourages risk is making a foolish point.
Liked listening wise, short & crisp, to the point discussion. Great interesting questions asked & how it was answered its superb.
She is a gem in the era of so called influencers who hardly understand finance.
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
Questions should have been better as she is capable of answering deep personnel finance/investments questions.
Its Chickermane sir who I am a big fan of. He is a very supportive and good husband.
This was a lucid interview with a lot of clarity, kudos to Nishant and team!
One can easily visualise power of compounding through PPF after saving
₹12 to ₹15 lakh
19:56 this is the best part, the gentleman is the reason behind her success. Humble, simple, and honest guy.
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.
The best and top rated video of WW WintWealth
Depends on what you do. My dad earns way more now at 64 than he did between 40 and 50.
Very insightful conversation. The way she answered each question was commendable!
Excellent advice especially for women. Thank you ma'am
Great Interview
Monica Halan... From MAKE A WILL FOUNDATION
Thank you for the time worthy conversation.
Monika insights on financial independence and the importance of documenting one's financial life are invaluable! Empowering women to take control of their finances is crucial for long-term security and success. 📚💡
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.
Very informative and helpful video. It's refreshing to see a Woman taking the lead in the household to manage expenses. I would admit to my ignorance about who Ms. Halan was before watching this video, but a man learns new things everyday :)
Loved the discussion. Will download it for reference later.
💯 career spans are shortening severely and I'm seeing similar trends around my workplace too
I loved the interview as well as the interviewer and interviewee! Clear questions, simple and absolutely clear answers. Thank you!
This is the best thing I heard today. Thank you!
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
She is so wise and gracious. Does not talk down to the ordinary people.
I would like to suggest for this podcast channel that is conversation if in hindi it will be most efficent to the people of india
Excellent interview.. really good information shared for youngsters...
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?
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've been watching your content for a while now and this was the best video so far!
Such a mature woman with so much clarity. Great podcast esp for women.
Nice interview, learned a lot.
I have been practising ‘If I Die Before You’ approach for 10 years now.
It is a right discussion and a practical one on that.also it's a reality check.very crucial for women to be financial literate.
Very good interview. Thank you ❤
Mam is beauty with brain...
She mentioned lesser allocation towards equity MF for lesser age. Any reasons? I always thought equity was the way to go for. Any other video giving out asset allocation in MF with adequate guidance on the subject?
Risk of volatility, debt is fixed moreover
Very nice conversation...such a nice thought for money...felt good.
Glad you liked it
Excellent video guys. A must watch for all, especially working women.
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.
Yes fire is crazy in india and this is not a good sign because wlb is missing so they want to retire early
Thank you @WintWealthYT for so many informative videos on personal finance and work-life, I'd love to feature on your video one day 🙂
Probably the best informative video on this channel.
Business strategy and business mindset ko kisi tarah middle class mindset se synchronize kar dijiye, jio net ki tarah business bhi desh ki rago me daudane lagega.. n business will be incentives and get complimented in India 🇮🇳🎯
Competely agree with point on NPS, buying annuity of 40% is the main pain point. But these day people justify putting money in NPS given that they are able to invest directly from their salary which saves 30-35% which would otherwise go to the govt as tax. So if we pay that much to NPS and still don't get anything is it not really worth it 🙂
What an amazing video to watch after a long long time! Thank you @WintWealthYT.
Many thanks to Monika and family to share the experiences. And yes even I had been a 'financially coward' person, but luckily, got out of it quickly.
regards,
R
She's gorgeous in that young skin
Honest...
Simple...
&
Brilliant!!!
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%.
Absolutely awesome, full of wisdom.
lovely lines from the man. humility wins
This has been insightful
She is incredibly knowledgeable and amazing.
Fire calculations on expense method and income method not matching.
For 40 year old with 50 LPA income, FIRE number as per income method is 3*50 L = 1.5 Cr. Its very less.
Suppose his annual expenses are 10 Lakhs.it will be 46.61 lakhs at the age of 60 (inflation 8%),as per SEBI calculator. 18 * 46.64 comes around 8 cr. This seems to be correct FIRE number.
There is some correction required in income based formulae.
The income based formula suggests the milestones your corpus should be reaching at each stage. At age 40 you should be at 3x of your annual income, by age 50 it should grow to 6x of your income (at 50) and by 60 it should be at 8x (of income at 60). Hope this helps.
8cr is what you need at 60, but having 1.5 cr at 40 and compounding at ~8.75% rate will make it 8cr. This means you cannot eat into 1.5cr at 40 and you need to allow it to be invested. What you need for 40-60 if you plan to retire by 40 would be much higher
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?
Wish i have mentor like her
Thats very true by the time money came the desires were not that many or lost.
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.
Awesome Podocast ….👍
We are back to square 1 at the end when her husband says he didn't know S about where his moneys going. So the only difference between them and most couples is that their roles are reversed. But the fact that one partner takes care of the finance and the other is clueless still remains.
Hey, in the interview she mentions that it was the case initially. But now both of them manage it together.
I like these kindof ppl. Thanks for the video.
Lovely interview, really like it
Very Useful!
Please help - : I have a folio of 1.5 cr plus. All in Equity. 70% in index funds (Nifty 50 and Next 50). Both funds are from the same fund house, happens to be UTI.
Should I choose a different fund house for my further investment to de-risk the fund house concentration? OR it doesn't matter?
Does not matter much, but I would put in different Fund houses. Faced an issue with Franklin during covid so better to keep your eggs atleast in two places.
time ? age?
@@Risheei I am 42. Sorry, let me clarify, my question is should I choose a different fund house for nifty index funds? Is there a concentration risk with fund houses as such.
@@eggyolk2519 yes please diversify across different AMCs.
First question why would govt. Want you to invest 40% of your NPS money in an annuity plan.
And second is that why do you think that investment in an annuity plan with an insurance company is not right.
You must explain ma'am if you are clearly disliking this idea.
Actually Working Women's spends lots of money than saving now some women's started investing but at high level
Good and informative. Worth watching.
Excellent information. Thanks
in it it is either job or family choose one but you cant choose both
I am 42 Year old. Savings= 2.5 Lakh, Salary 1.25 Cr Per Annum ( No Tax) . Planning to Build 10Cr Portfolio in Next 10 years by SIP of 300K every Month in Mutual Funds.
Highly it's possible
3X in form of liquid Money or total Net worth, including assets and investment? Pls answer
Very interesting 👍
I like this woman!.
Really informative episode.
Loved the lady ❤
M already 15 times of annual income by age of 40 now. Thanks to mutual funds now next target 10 Cr.
pls call her again . very good information
What is the Soil mix for the snake plant.. please share... All my plant's leaves are very weak
Excellent insights
In India, men donot walk out with asset. They end up paying so much more as alimony
But, yeah women involvement is required in the finance.
I believe when she is talking about NPS, she's talking about Tier 1 account only. You can take 100% of your money from the Tier 2 account.
She was absolutely spot on with NPS, I have exactly same thought and hence never gone with NPS till date.
i agree to most of the thing but m confused abut one point that at time of divorce women gets nothing but from the things i have read and heard ... women gets alimony and they can claim 50% of man's assets and they van even claim assets of her father in law (for ex if a women lives in a house with her husband and that house is in the name of her father in law she can claim 50%of that )
She is wrong in many things she is telling. You are right, even if there are no assets, the husband will be required to pay money. She is not a family lawyer to know that.
12:21 The AI father's looks are putting a lot of undue pressure on me! ;)
The liquidity of Cyberopolis tokens is a major plus.
Am curious - Will owning real estate worth 3 times the annual income by 40 also count?
Zerodha has given us an investment revolution and gave access to the masses.