Should You RETIRE Early?
ฝัง
- เผยแพร่เมื่อ 11 ก.ย. 2024
- Today we are interviewing, Deepak Shenoy, the Founder & CEO of Capitalmind. He shares some insights on
- Financial Independence & Retire Early (FIRE),
- Is it important to save early in your life?,
- Buying a house vs renting, etc.
Wint Wealth: www.wintwealth...
Socials: / deepakshenoy
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Can you highlight the scam by LICHFL that prevents people from repaying home loan by online option. In the current manual option, we have to go to LIC office and submit cheque for repayment. Sometimes we may skip repayment of extra EMI or extra principal payment just because we have to do it manually. I am having 10 lakhs currently as I skipped paying extra EMIs wih the surplus amount I have. This is a very incovenient option in this 2024 era. We have to stand in line and the counter is open somewhere at 1 am - 11 am and closes by 3-4 PM. Please raise this issue. I need all Finfluencers to force LIC or any other home loan companies to enable prinicpal pre-payment through online methos. Thanks. Vikram
The happiest people are people who don't worry about their money too much and look at it more as a companion along the way rather than the objective
Those people have their basic level needs already met and probably have a few assets from your anscestry, they are protected by family in case of any crisis. Then you can be carefree with your money.
I do agree on that... If you're not financially stable and have a stable income to live all the basic need then only you'll started seeing money as a companion... @@t00862
I don’t agree
@@t00862That's true.
Plot twist: they are slogging their ass off in their salaried jobs
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
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.
I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
How do I get involved in this? I am excited to take part because I genuinely want to build a stable financial future. Who is the main inspiration behind your accomplishments?
Annette Christine Conte 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 sharing, I must say, She appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
Once u have enough money, Mostly people say Money can't buy happiness. But money can relieve u from corporate slavery.
That's true
Well in that case... Vadapavwalas and other shop vendors are HAPPY as despite earning less money ...they atleast aren't Corporate Slaves
Spot on. FIRE can help us avoid the constant threat of downsizing or toxic politics at work
@@varshavora9935grass is always greener, try standing on busy road with pollution for 6 hours straight
@archanakamat2635
What do you mean by relive from corporate slavery like leaving the job
Or having so much money while doing job
Good point. Don’t save at the cost of not living life. When you are old the money has less meaning. Save money but don’t forget to live your life
Wellsaid
At the end of the day saving and making money is all about
1. Discipline
2. Hard work
3. Investing
4. Living below your means
5. Don't care about what other think and
6. Live through the journey, enjoy it, make memories, have experiences
Not spending enough time is not worth it when you have a ton of money in the bank but no one to cherish it with. Kudos to this sir. Sure money is important but if you reduce the expectations of the corpus it will give more great memories instead of numbers on a bank statement. Living below your means for a period of 20-25 years can easily grant you Financial freedom however the habits will stick with you even in the retire early journey. A balance is required.
Listening more such podcasts is making me more aware of life happiness than financial awareness. These guests do have crores but they have much worthy experience of life which we actually need to get out of false stress that we have housed in and around us.
We can say that money is not that important only when we have money.
Absolutely right
yes a certain sum of money
True. And till the time one reaches that stage one either has to worry about money or plan for it.
I guess having the clarity /hope of a path to accumulate wealth is the way to go
Remember you can say that line only once you have made that money 👍🏻
Same like, we lose the value of something when we have too much of it.
The expectation of FIRE by 40 amongst people comes from Hrithik's dialogue from Zindagi na milegi dobara :)
First time someone wealthy making sense to me by highlighting that life should be measured with happiness
Concepts like FIRE were born out of excel sheet calculations which does not include the emotional aspects of life. Great interview and it sounded very practical.
It's refreshing to see Deepak challenging conventional financial wisdom and emphasizing the importance of finding happiness beyond monetary goals. Understanding the deeper meaning behind our financial decisions can lead to a more fulfilling journey towards financial independence. 💰
This is the most practical interview on stock, investing etc it suits a lot to general audience.
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can take advantage of compound interest and potentially grow your retirement savings overtime?
These kinds of crucial judgements are best advised by professionals with experience in the industry, thus it is preferable to seek their assistance in these situations.
That's precisely why I quit taking TH-camrs' financial advice; in the end, all I have is a disorganised assortment of stocks and bonds. but with the help of a real market specialist, I was able to make over $350,000 in less than two years.
I agree. A financial advisor can really help you re-adjust and identify blindspots that you yourself do not notice, like mine did in advising me during COVID on how the pandemic will shape things, and I made it out big and still make up to at least 20k in dividend per month.
I appreciate your response. That's a really strong return; you must know a lot about stocks. What was your approach?
"Melissa Jean Taligdan" was the financial advisor I initially worked with. She periodically appears on CNBC and is quite well-liked in the US. You can also get in touch with her via her website. Later, please accept my gratitude.
If money should be treated like your companion.
Don’t you worry about your companion if that companion of part of your journey. Companion also gives you happiness and in this case sense of achievement. Knowing that you have money gives you peace of mind about the security of your family.
Guys everyone worries about money at some point and it’s important to worry about it and it’s la lie if some one tells you have the option to not worry about it. If you plan you worry later in life when you don’t have the option to make drastic changes to your life.. It’s gets you organised and disciplined….it gives you a goal and purpose.
I have heard 1000+ finance videos, by far the most sensible interview. Respect for the Sir.
I am using Tiago ev mid range for 6 months done 25000 km, daily 140 km
In my experience, it is with every penny I spent
Power, driving comfort really good.
power, torque much better than petrol car.
In my opinion, Tiago ev MR is better option considering price even if punch has come.
If you have solar at home, better.
My cost to drive 3000 km one month is 500 rs, with a 3.5 kw solar plant.
So this guy spends 90% of his last 20 years of his wakeful life thinking about money, writing books about money, managing money and he continues to live the same life and he has the best suggestion he could give to humanity : “ don’t think much about money “ .. Its like Johnny sins saying eyyy sex mei kuch nahi hei jyada sochna math ! .. sorry I am the idiot here .
That is what makes him the best person to tell it to you.
Those 20 years is what is called personal learning which he is trying to share here
Do the same and you might say the same in about 20 years. Kindly stay in touch 🙏
That is fake means
😂😂😂 well said
One of the best conversations around FIRE, very down to earth , relatable perspective.
The one thing I personally find as a genuine challenge, desire doing lot of things mentioned here - is the annual increase of savings by 10% every year ; pay raises if any are eaten up by inflation…
Though I think something better than nothing
Gyan only when you have a lot of money. The challenges now to learn things faster adapting to newer things in the job. Learn and relearn those things were not so high in earlier years people worry with growing job whether they can have a stable job at a later stage no one wants to truly retire but finding something that you can keep doing still make money at a later age is very tuff. I dont feel anyone started working 30 years back truly knows the problem
With 5000₹ in 2000 you could do a lot of other things than having an “experience in 5 star hotel”. Now after 20 years if you are free of those obligations you can then have that “5 star hotel experience” with 35k which would not be much today for you. But then, you would have wisened up enough in life also to realise that 35k “5 star experience” is no where near and not worth the time compared to spending that 1 day, let’s say, cooking with your kids or grand kids with happiness and peace of mind. 😊
Deepak is a pleasure to hear…
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Hi Basant Sir, I realized the main reason why I watch your videos regularly because unlike other fund managers you aren't always painting rosy picture about economy. Jo hai waisa hi bolte hai.. Other managers always praising economy & their companies openly but their Portfolio Returns is TAYE TAYE PHISS..
Fantastic interview & wisdom from Deepak shenoy..keep it coming 👏
Felt it was cut short. Conversations with Deepak go non stop till hours. Very plasant personality. Thanks for the interview ❤
Excellent video... life is about experiencing than saving. Spend time with mom and you are all FIRE already.
"The happiest people are people who don't worry about their money too much " Basically he wants clients who are not aware of their financials and dont question when they deliver low returns.
Wow 👏👏
Right just deceiving everyone, ofcourse we should spend on necessary things we need in life, spending lavishly like the way he narrated only a fool will do. Only we ourselves can take accountability of our financial aspects, these people think they have the prerogative to say nonsense because they themselves have made alot of money.
As best as it can be. It’s a joy listening to Deepak’s view. Very lucid and practical.
Should interview somebody who has paucity of money. We may come across a difference perspective altogether
Semi retired for life is best! Travel for months, chill for weeks and will be able to work for years❤
Deepak Shenoy is so cool. Love listening to him.
My father salary at that time was 500rs and now we have our own homes and commerical property
Hard work at right place at right time is only thing that makes wealth
Hard work in wrong place will make u stagnant
What to say, i feel Deepak and me are on same mind-plane.
Our strategies match, i need to get his autobiography to pre-shadow my future steps.
I wish we meet up one day both as a Founder and a friend !
This is so incorrect. Price or land near my house was 4-5lac in 1996, 5000 monthly comes out 60k yearly. So 8x of yearly you can get it. Now he says its comparable to 40k now, that's 4.8L yearly. Same house costs 1Cr now, so more than 20x.
Great to hear such clear demarcation of financial sense & emotion 👌
This is a very good interview I saw today and his points are absolutely on point .
Mr deepak very cool👍 really enjoyed. Pls bring him again
I'm 36 years old, thinking of financial freedom by age of 50 with basic education back ground and had three kid's responsibility, chasing for own house dream. I know that the path is very difficult but trying my best. Only regret is that not living as i wanted.😢
One weak me atleast 2 or 3 video dalo please .........
Your content quality is very good ..........
Grass will always be greener on the other side.
Practise moderation & give equal weightage to health, wealth & experiences
Yes wealth shouldnt be central focus of life but an important priority. Active income plus goodninvesments ans sips thats it.
I dont understand why people are against purchasing house, while renting is atleast 20-30% of your annuap expenses.
It is good to have a dwelling unit while you are working.
After retirement, you just need not to put moeny for rent so your expenses are actually less instead.
A single income or relying on government support should not be every employee's dream or mindset, but having an investment plan by purchasing good stocks as income support and retirement is the best option one could take in life. economy of the country (America), which is unfortunately about to crash. According to the statistics of so many intermediaries and observations, the government does not pay attention to its economy and its citizens, but is investing in wars (Ukraine and Israel).
There isn't a finance video on the whole youtube which could be more accurate and concise than this one.
I know this might sound lame but the person who is editing these videos has levelled up too much man. Like I was watching a wint wealth video from 9 months ago and the amount of echos I could hear was just too much. And now its so crispy.
Kodus to the people editing these videos and the sound guy too !!!
Thanks youtube for suggesting this video. Being a high supporter of FIRE now I have to think again. I guess i am killing all fun from my family because of this.
In 2 scenarios FIRE is necessary, first when your job becomes redundant due to any external factors. 2nd when you are very stressed n depressed in work.
I totally agree that time is the most valuable commodity known to man. Enjoy life when you still can. I like Deepak’s naughty off hand sense of humour. It is nice to be a subscriber to this thought process. Take it easy and enjoy life.
Always loved such conversation by Wiint Wealth.Thank you
Glad you enjoyed it!
FIRE is financial independence when achieved one is retired early automatically because one doesn’t need to work for money, so they can work the same job, other job, or nothing at all.
Awesome. Crisp and meaningful questions asked
The power of saving habit and compounding cannot be undermined…
Yes having experiences which make sense (living in a hotel costing 5k is not one of them) should be spent money on but that is after one has saved a percentage of their income, spent on their needs, and then make a “want” expense like this…
Very informative. Money midnset kinda video. Thank you for this gentleman
The interviewer is doing a great job but editors come in between and spoil the fun. The animations, sounds, fast transitions, frequent camera angle changes are all very distracting and annoying.
Headline is misleading, i couldn't find where you discuss FIRE.
Retiring early is NOT overrated, but it depends is the real answer.
Especially with a good investment strategy in the booming economic situation, one could easily amass enough wealth to quickly retire and puruse your real interests than holding onto a job desperately for years.
The other reason you want to consider retiring early is that most use only their brains to make money which makes them weak physically spending their wealth to fix the problems caused while chasing money.
Ps: i retired 8 years ago at 48(3 years late)
Hey, that's an interesting perspective. We'd love to have a chat with you to discuss this more. Could you you please drop your email id here or drop us a mail at wintwealth@gmail.com
Looking forward (:
6 min at
The concept of FI itself is very subjective. The RE part of the FIRE is achievable for some who already achieved FI, have a home and say minimal responsibilities or liabilities. Some FIRE achievers claim FIRE but in reality, they left full time jobs and became entrepreneurs or independent professionals or digital media professionals. IMO the people have not retired technically, they just left full-time jobs to go 9n their own path. This is no RE rather about starting up or going independent which is a difficult path and not a smooth path like someone retiring and living on a pension and some passive income.
My input,
I recently bought my first house.(I am 32)
Totally financial decision.
Yes, there is a catch, I am currently living in the Netherlands and average rent is 1500 Euro.
Here we get almost 100 % morgage for purchase of house.
Current Intrest rate is 3.75%
I will pay 1600 as EMI, after tax return it will become 1250
Yes, I am emotional about my house, but it is a totally financial decision.
Hope it will help someone 😊
Brilliant guy :)
Every new partnership announcement adds to my excitement about Revux!
I have more or less same principles as this person and making good so far wealthwise....by his age if i work as i am doing will reach 100 Cr
Wint Wealth saying "what is this about 40 yr age and FIRE" is such an irony. Dude, you single handedly do the soft and hard marketing of FIRE. I really like Shenoy's point about life revolving around kids. I haven't seen a single FIRE aspirant with kids.
People who have a corpus in mind may question your strategies. They have done some homework in their expenses, inflation, time till retirement.
BEST ,VERY INFORMATIVE AND HELPFULL
I only invest in presales for the biggest returns; that's why I love Revux. Early entry is the key.
This man's thought process is inline with my thought about life
I WAS SOO INTO THIS VIDEO I FELT VIDEO ENDED INCOMPLETE
Amazing content as always
Glad you think so!
Lovely video. Very practical advice.
KUDOS
Clearing out all my Alts, going all-in on BTC and Revux, maybe a little BNB and SOL.
Wonderful straight forward and practical..👌
People saying stuff like money isnt gonna buy happiness only if we have money should ask themselves the lifestyle they want and how much will they require
Don't add these random notification sounds in the videos. They are plain annoying.
In retired early business your life is only going to be around kids school and their studies and bla bla. Your 20's and initial 30's when you don't have that much responsibility then you are truly going to enjoy it. The best thing I have heard said by financial expert. Thats where the Fastlane Millionaire comes into play. If you are indian you don't have to be millionaire to have such experience. Its just that you have to have that good paycheck which will help you afford these kinds of experiences.
Excited to witness Revux disrupt the loyalty program industry; huge potential in presale!
In 20s you can't give this type of gyan.
Surely, Anant ambani can give this gyan & people who have huge generational wealth but not other folks like us. We can give this gyan after 45 probably.
Till then just grind, network with people, travel but if you become careless with your money in these 20-25 years. You will ruin your old age worrying about money.
really liked his take on investing ,life etc
Great job ❤
It was a really great video, no doubt. But one quick callout, multiple is 3-4 at least and not just 2 cars :)
Nice video, motivated with out putting the mental pressure 😂😂
Insightful!
If you want to be a philosopher be rich first that’s my understanding from this episode
Capital mInd .. I am investing in Smallcase
I Totally agree with this man.
Even if you have a 30x corpus of your annual expenses, still it doesn't work..because 30-36% income ax on return on corpus destroys you calculations.
It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
@@roxdietren I completely agree; I am 60 years old, recently retired, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@@AlfredStephen127 I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
@@BrandonRichards21 I definitely share your sentiment about these firms. Finding financial advisors like Claire Robert’s Durand who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
i kind of disagree here... if i could even think of staying in 5 star hotel in goa in 2002...i wouldnt even think of saving, i mean why should I if i can afford to stay in a 5 star hotel in 2002
motivated views being shared
If you are getting good money and also happy at job then why you want to retire.
Being financially independent is necessary but fire is stupidity
Living till 90? Who lives till that age in india???
Bahut badhiya video.
Wise Man
Why do I feel he sounds like that guy who reviews mobile phones
What a joke, a Capital Management company saying the happiest clients are the ones who don’t care about returns on their capital !
For them it's the best client as expectations is less
Well explained . FIRE is too hyped . If you are having good life with two meals a day and enjoying your life … it’s the way to go … too much maths and finance makes you mentally poor - may be Fin rich . The last word you are not going to take it away …
Wise Person
Dekha zamana sara bharm hai, why do people talk and impart life knowledge after being rich
coz that what matters bhai.
A Healthy Body,
A Happy Family,
A Peaceful Mind.
Being Rich is actually a Curse.
eye opener