How to retire EARLY in India? | What is F.I.R.E ? | Retirement Planning | Akshat Shrivastava
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- เผยแพร่เมื่อ 8 มิ.ย. 2022
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This video is for those who want to RETIRE EARLY by following a simple method known as F.I.R.E. method
I explain what steps should you take to achieve financial independence.
Do watch the video till the very end:)
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website dowm
Hey Akshat,
Now what to do if you are suggesting not to invest in Index fund ?😆 🤣
@@himansbhad2078 🔼🔼🔼 Reach out for insight and mentorship🔼🔼🔼🔼🔼
The problem is saving is not a problem. Problem is protecting that saved money.
You can protect your savings by investing
Saale sab nakli yahi par 😂😂
OMG, so much comment spam!
What nobody tells you is if you create an additional source(s) of income to surpass your job income it doesn't matter if you do not have a huge corpus.
Protecting the saved money is called Investing which is for sure a problem i these times.
I followed FIRE. Retired at age 48. My suggestions - have own furnished house, car etc before it. Plan finances & future well depending on your personality & vision- take good insurances, Better to save prudently in Banks & real estate. Be a disciplinarian, be teetotaller, develop healthy emotional relationships and networks. Be a busy bee in keeping your mind young & conscious by making m use of SWAYAM portal. Serve the society. Enjoy happy life with goal of well being❤❤
I agree with you Akshath - work hard, save, invest, "retire" early, and enjoy life. As you mentioned, "retirement" does not mean stop working. It means - having financial control, financial independence and having control on how much one wants to work. Only possible if one doesn't get stuck in a debt trap / debt cycle. One important point I can add to the points Akshath mentioned is - reduce the dependency on external factors. Have control on your energy, food and shelter - what I mean by that is: have your own house with your own power supply, water, food supply, and transport. How is that possible you may ask. It is possible if you plan well. Have few acres of land - that is the most important thing. You can then have your own house, grow your own food and also have your own energy supply in the form of solar or other means like bio gas, bio mass etc. Have a EV for transport - which is charged through solar. Then how much cash flow you need? Very low. That is easily met by some long term investments. You can afford to have long term investments because you are not stressed for immediate need of cash when markets have a down turn. Apart from that - you can do some form of agriculture (organic, natural, permaculture etc. I am not a fan of toxic chemical agriculture) for your cash needs. You may plant good quality timber plants and watch them grow to huge trees. They can fetch handsome money when you sell them. But real long term - ranging anywhere from 10-30 years depending on the variety of tree you plant. Also it is easy to work remotely now because connectivity is not at all a problem. Though I live in a small village 450 kms away from Bengaluru city I work as a software architect (part time because I need time for activities I like and enjoy). It is possible because of multiple cell phone services and 60 MBps fiber network available even in villages.
Early retirement is great. Visit my youtube channel or visit soilatlast.blogspot.com for more information.
Thanks bro mere thoughts same tumhare jaise hai hope mai bhi tumhare jaisi life jee pau
I totally agree with you. I also have same thoughts "Self sufficient Life Style". Only problem is we don't have Farm and never done farming. But definitely planning to buy some agricultural land and produce for personal consumption.
@@ravip9398 bro ....grass is greener on the other side....Farming looks fancy from distance. Do your homework before plungging into it.
Any ideas about kids education, medical facilites and etc
Listening to you is better than doing an MBA degree in today's world.
Lmao no wonder you are listening to him if you had done basic education you had known not to listen him..
Dumbo 😵💫
"if small people are making returns in a good number how will rich people make it so ..."
you earn my respect.
a single line but it takes guts to say that.
Very true bro
This is so true whatever the market is
Wrong! Investing isn't a zero sum game. Wealth is literally created in it, atleast in the long horizon. Short-term mein rich investors ko jyada fyada hoga, but nonetheless, retailers can benefit from the moves.
I can tell a simple method to retire without any tension. suppose you need a sum of Rs 100,000 per month, You should have a corpus enough to give 200,000 per month from bank FD at 6%+/- 1%
So best corpus required is 5 Crore. One should spend 100,000 and remaining invest in any type of investment. Ideal being Govt. Securities which give 1% interest more than average inflation. Every five years take a portion of investment and increase your corpus to get more money per month for spending.
First youtuber who asked us to watch it at 1.5x speed 😁
Subscribed already
I had a large portfolio of $3.2M invested in stocks left to me by my late father. I hired a licensed wealth planner, Lisa Michelle Pacillas to handle it for me 3years ago and currently I have my portfolio diversified properly and grown to $5.3M
Oh wow😮… This is incredible. I listen to her podcasts sometimes and I have learnt lots of strategies there too, Does she offer her services to about anyone?
Lisa Michelle Pacillas can be reached through her webpage, you just have to look her up on the internet
I just got word from her. Can't wait to get on the phone, we scheduled for Monday
I just looked up this person out of curiosity and surprisingly she seems renowned. I thought this was just some overrated BS. I appreciate this
scammer scammer telling lies?
One of the best videos from you, Akshat. Thanks. Bunch of takeaways and eye-openers.
How to Win at the Sport of Business by Mark Cuban is the book which Akshat is talking about.
Everyone should read this book in my opinion.
I definitely don't want to retire early , but maybe want to reduce working hours by increasing quality hours
You could do CoastFIRE, which means you don't do it for money but for the pleasure of it
The Mark Cuban book mentioned here is "Life is half random"
Nowadays it’s really hard to save money with rising rate of inflation and uncertain returns from any of the instruments
F.I.R.E method is great 💡
💯
Your way of thinking is way different than most of the people out there. Keep going & never stop making good knowledgeable videos.
Hi AKshat.....very well explained and love the transparency with which u put across the real facts.Kudos to the efforts u take to justify ur statements from macroeconomic viewpoint. Love the work u are doing and i eagerly wait for ur video on daily basis.Thank u heartfully.
You are a serious inspiration to me I will retire early, thanks for your informative videos
Odi chellu sahodara....
I was waiting for this video. Again very practical and easily presented👍. Thanks
I am 18 and I have this goal of running a library after I retire and interact with new people everyday, and possibly try to add value to their life in one way or the other..........
Same here
Thanks akshat, earlier I did not know what role inflation plays on my income, and other stuffs, but after watching ur videos, I have learnt a lot..thanks man!
Akshat in 2021: index funds are safer, it's a path to start investing and dca in to index.
Akshat in 2022: index funds aren't safe.
He want you to buy his course
Mba level lectures are getting free In this channel .. keep going sir
Dont think to save money for future
Learn how to print money
Learn new skills, do smart + hard work if you want to live life smoothly
Take risk as much as can in your 20s
Never thought whatever investing decision i am making will match with someone ..Guys this video is GEM...the point 1 & 2 is what you need to do exactly
Really enjoyed and learned the other side of the world and the rationale.. thank you so much and keep doing these type of videos..
academically it is okay - in real terms nothing works - because of external forces/factors
New perspectives provided.
" To get inflation adjusted returns retail investors have to take a lot of risk by investing in Mutual funds"
Thanks
Great content.. Thanks.. Cheers!!
Very Intelligently n genuinely and educational Video 👍
Keep Going ON 🎉
One man's opinion: You FIRE the day you get your dream job. As a parent, you should help your kid(s) navigate their passion and talent to land that dream job instead of forcing them to be engineers or doctors even if they don't show the aptitude for it. Baki toh books pe books likh sakte hai on how to FIRE, nothing will help. That's what my parents did and the day I landed the job after college, I have always felt what someone who's FIRE'd would feel.
Hey Akshat, Sorry but first time I disagree with few of your points on F.I.R.E. I am in my forties and on F.I.R.E movement. It doesn't mean retire early and do nothing. It's Financial Independence so that one should Stop Living Paycheck to Paycheck. following few things I am doing and following from last few years.
We have not changed our lifestyle in proportion of salary increase (Though my salary has increased more than 10X from past few years). Cleared all loans ( liabilities). I don't use any credit card. And to your surprise I even don't have UPI configured in my mobile. Saving around 70% monthly income. Already build corpus for child education and invested. Doing Investments in Index fund, Direct MF, Direct Equity, PF and PPF, Gold, and (Crypto - Thanks to you for this). Currently rented one property but will swap this to Commercial property - Again thanks to you for this. I strongly believe F.I.R.E is possible even in India it's always linked with your habits and control. :) Thanks.
@Arif Tumbagi Are you really understand %. e.g. if you see 30% 0f 1L = 30K but 30% of 3L = 90K and that is enough right :)
Nice video
Very practical & informative
I do agree with your examples.
It was only last week that you were saying in one of your videos, that FD returns were always less than inflation at the time period. Suddenly in this video you are saying the complete opposite.
He mentioned about safety considering the risk of investment
I like your advices, they are mature and long term investments
As usual there's so much of learning in this video.
My very polite and humble suggestion is that next time, you could analyse from different age groups perspective. For e.g. retirement for a person at 30 yrs, 40 ,50&60. Am requesting this so I can learn.
Lastly, swing trade suggestion is very good and hopefully you will teach us more in coming future.
Hi Akshat,
Wonderful video i would like to appreciate your efforts for this video. I would like to add additional points here
1. we should reduce our thirst for unwanted buying and
2. I think we should cultivate simple living
Thanks
FEEDBACK APPRECIATED👆👆
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Amazing video sir. Great stuff!!
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Hi Akshat, hope you are well.
My point is, the person who is planning for F.I.R.E will have fair amount of financial knowledge. He/She would know how to grow his/her money and also well aware of the market volatility.
(Answering against your point at around 11:33 onwards). Normal people do not try for FIRE.
The level of research you have done to put this video into perspective is commendable... Really you are a gem.
⬆️⬆️ Reach me with the what'sap line above for more information, guidance and consultation. Thanks for the feedback..
Market is so volatile, like how you said. Majority of retailers exit in this kind of market
Thank you, you just read my mind about views on retirement.
I think the book is" How to win at the sport of business" by Mark Cuban
When rent takes away 30 % of one’s income, it is a pipe dream to save 70% or even 50% of one’s income.
By living frugally, you can achieve financial independence by 40 but guess what, your prime years of life are just gone.. someone, who is making quite good by 40 that he can save 70-80% means he is reasonably good in his job/skill.. can he now slow down and do something else or take retirement? can you also compare the return of 'Life Experience one can get' vs 'working hard, save money, live frugally and retire early'
You are a realistic man, good content in this noisy world. Wish you a lot of success!
This video is FIRE 🔥
Conviction in any stock comes from understanding business of any company. At one end you say learn to take calculated risk and at other times people put their money at stake just to beat inflation. Kindly suggest middle path to grow
I have never met a single soul who wants to retire early.
While in 20s = retire early.
While in 40s = I do not want to retire
While in 60 and retired = no one values my experience. I am worthless now.
Hi Akshat, thanks for an informative video. Even though I understood most parts of it, Id request you to make videos in Hindi also due to already complex jargon of personal finance. It would be so much easier and lesser effort.
One thing that I have realised is that even if I save I can’t say no to my family when they are in need. How can I be sitting on piles of money when my family needs them. Hard to protect saved money for a lower middle class person whose family basic necessities are yet to be met.
Rework is my favourite book of Mark Cuban
Thank you for your comment…👆
Be sure to contact the What’sap line above for more info and consultation on investment. I have a new investment plan I'm sure you will like to be part of
Excellent Video!!
Best one..Akshat...
Liked the video content.
Although don’t agree with the point where you say linking credit card with UPI is a nudge to spend more.
It’s another proactive step by RBI to accelerate digital payment penetration in the country. Practically every merchant has QR codes today to accept UPI but only a small fraction have card swipe POS, because of rental costs involved. Hence this will improve card usage and further digital payments.
Expenses are very high. Saving is becoming tough . And expenses likely to increase more
Sir I am student your content is great
Hi Akshat
It will be great if you could talk about investment in gold , it’s returns & tax compliances .
Make a video on people who are of 40 and want to start savings
Great analysis akshat. I have been a regular viewer of your videos for sometime. Your analysis of FIRE is bang on .
Great video Akshat. I have been a regular viewer for sometime and found your videos on investment and savings very informative. I am realy interested in investing in startups. But do not know how?
Hey Akshat, what do you mean when you say swing trading something as safe as an index? Do you mean getting into derivatives ?
The insight on ETF has made me think. That's why I look out for Akshat and his videos, they make you think about financial concepts like never before
if somehow etfs get burst, all major 200-300 companies will also go down
Akshat by watching your video I got a question. where the money has gone from the market. where the rich peoples are putting money and squeezing from stocks. never the less stock market are desgined in a way that it will go up
Firstly we should Earn.
After that
Earn>Save>Use some of the saving to increase earning >then from that saving(a portion) invest in some equity product (mutual fund) some in safe product fd,index fund > remaining keep some cash.
Seems simple..
After having some cash,the rest use to increase your earning etc work equipment
Akshat isn't flower it's fire 🔥
Loved this video
amazing video @akshat
Akshat,out of video questions to you.
bhai why would any govt./nation or international financial body accept Bitcoin?
If they really want to legalize it, They could create their own NEW Bitcoin (with some other name) and distribute it accordingly. Currently any Tom Dick Harry is holding it.
accepting current Bitcoin is challenging/impossible for any stable country/financial system/institution.
Upi credit card would drastically boost businesses if they use it inteligent way
I am a FIRE aspirant and am not just about holding, rather investing more now 😁🤘🏻
And by the time indian investors hit 70-80% index allocation it will be 2040 maybe, so we are good for now
Sir what would you suggest a student to start off with for ex. what kind of books? or how and where can we find info about investing? how does one get around being novice in stocks and/or crypto? or is it that my career and job will have to do a lot with all the listed things prior to this question. thank you for this video it has helped put things into perspective for me
perfect definition of early retirement 🤑
Amon & Christiana channel name is "Our Rich Journey"
I follow them.
There Videos are superb on F.I.R.E
A very informative video...can u make a video about how u do ur research and make such a lovely videos.... thank you 😊
No..I want to work long enough n no plans to apply fire strategy.
Your videos are my daily curriculum.
Yesterday night I was watching your video along with my wife and she says it is very interesting and gives a lot of knowledge.
Thank you for the educative videos.
Hi Akshat, You talked about online businesses in this video. Can you elaborate on this more. What type of online business can be started for generating an alternative income stream. Ideas? Recommendations? Thanks!
Hey bro..U don't have to be too concerned about the crypto haters and mention the hatred towards crypto each and every time, in all your videos. It is a fact and let's accept it and move on. You just do your thing and don't be concerned about them. Your supporters will always keep supporting you no matter what.
Explained beautifully . More and more people are starting investing in stock market which means it will loose value.
The way you compared Debt funds' current situation to Index funds..
Hmmm
There's a chance they find out a way to reduce Index returns...
On top of all this we are charged high taxes on returns,
If you make returns then that money is ours and if you didn't not our fault
Good analysis, @akshat , Any book on developing second order and third order thinking ?
How to scout for a rent yielding commercial properties in tier 2 or 3 citiess ??
Thank you sir
I am really upset why I haven't met or watched people like you or Ankur in my early stage of career atleast before getting married even.
Amazing video.
I am planning FIRE this year, from india, commercial properties worked for me. Never bought a flat , got out of trading soon, index funds and closed ended mutual funds was next best that worked for me. You are correct, have to be on a lookout.
Confidence makes it strong quality video
⬆️⬆️ Reach me with the what'sap line above for more information, guidance and consultation. Thanks for the feedback..
Nice and informative video
Incidentally I have read both the books , 'Your Money your life' as well as 'Four hour work week'.
In Indian society top expenses are :
Marriage function
Birthday party
Normal weekend parties
Constructing or Buy home
Now viewers will g rey offended and say whose world has same issue but no , India especially facing this issue … In India marriage is more important than early retirement . Shadi nahi kroeg to log pakaa ke rkh denge , foreign countries has more open culture .
Love your video. you researched well before speaking..,
Please make video whenever you make swing trade
Thanks Sir, I was waiting for a video on FIRE by you
Absolutely ri8💯👍
Sir , keep making this type of videos we need a mentor like you 👍 👌
@@akshats.2739 pagal samja hai kya bc
Kindly post a video on markets best index fund.
Good job
Being able to save 70% of salary for a married person in his late 30s with kids?? There can't be a more cruel joke
depends if you make 10 lakh/month then it's not big deal
great video , also the three hard assets u mentioned are now outdated and the new ones are ?? moving and emulating the countries on highest growth trajectory 😆