They are covered because they are rich. Who want to fix the finance of family earning 15k per month with 2 kids? Challenge is to do financial planning for those vs these rich familieies
In a few years only CEOs , high paid actors and rich people will be able to afford buying a house. 😅. Rest of the population will be paying EMIs until they die
@@sonusuresh6642that's why they bought this reai, like mutual fund people will invest in real estate. Also these NRI foreign investors are more. And also everyone is able to buy house in a lifetime though it is expensive
@Anshuman - to answer the question on Maintenance for cars upward of 50 lacs, they need to account for the following. Insurance - 60 to 80k PA Annual service - 20 to 30k PA Incidentals / Misc exp - 12 to 15k PA Tyre swap every 2 to 3 years depending on ones driving habits and KMS they cover - say 60k INR for a set of 4. (Mostly applicable for Euro/ German Cars)
If you buy fortuner or some reliable brand car then figures you have mentioned are correct. But if you buy an german car without service package. Annual maintenance will cost you post 1 lakh and most of the cars are running on automatic gearbox so fuel efficiency is also going to be around 8-10. So it really matters which car you are buying because you can get get bmw 2 series in same price bracket as legender but maintenance cost will vary for both cars.
@@fourdoorsmorehoes. Sure. I drive both a Volvo and a Kodiaq and their maintenance are a shade under the range I mentioned. Haven't accounted for fuel expenses. It's about the same with a 10 to 20% delta for Bimmer and Audi too ( say for the 3,5, A4 and A6)
Most sensible husband and wife duo I have seen on this channel. Congratulations🎉 because it is rare nowadays to find couples who are financially aware. Helps that the wife is in the banking system.I would rethink the car but apart from that overall portfolio is really decent financially and level headed as well. If you have planned for your kid's future then you can go for another real estate but you need to live tightly instead of quite freely.
Entry Level Audis and Mercs will go up to 1 to 1.5L PA for just regular maintenance. A BMW will be close to a 75-80K and a Volvo would be 35 to 50K PA. Other perishables like Brake Pads, Discs etc are extra every year or two. Add insurance of 1 to 1.5LPA. So yes owning a luxury car does come with caveats. But it's a great feeling owning one
I don't know why people are against this video, thinking it as flex your finance,unrelatable and kinda useless People can see it as an aspirational video as well, how do people earning a crore in just a year spend money,how flexible and comfortable life can become, expensive trips frequently,nice restaurants every weekend and thoughts about a luxury car This video was really good, because we may have never seen detailed expenses and thoughts about people earning a crore yearly and it was interesting to see it
Now that you have 2 houses, instead of going for a Luxury car, buy a preleased commercial property which will generate you income in the form of rent, plus the property value will also appreciate with time, later your loan eligibility will also increase considering your rental income along with your fixed salaries, on top of that you can get even more loan eligibility and mortgage the same property to invest in even more such properties and with those fixed rental incomes you can become financially independent and later buy a fancy luxury car which is btw a depreciating asset but yes, considering the lifestyle and as you mentioned you are a driving enthusiast you can buy a Luxury car
Very risky buying pre-owned BMW which is 6 years old especially for a first time buyer. Major part failures can easily cost 5-10 lakhs outside warranty.
Anshumran frankly this series should focus on people who don’t earn well and your advise should be targeted at having them do that well!!! Telling people who are doing well to keep doing well …. Does not make sense
I own a luxury car. I would suggest you to not go for it, it's just not worth it. Service costs can go till 75k-90k and on top of that there can be other issues which will start popping after 4-5 years that will cost you a bang. If you want the feel of a luxury car but at the same time be practical, I would suggest you to go for a VW. The VW virtus is a really good car which costs around 20L and the maintenance is a lot cheaper. The ride quality and everything will be just as good as any other German car.
1.1 cr and their take home is INR 4.5 lacs? Something doesn't add up or they have a huge bonus component pay out at the end of each year. Just a guess.
And yes, if CTC is 1.1, you will get around 75-80 after PF etc deductions, and then around 55-60 after taxation .. that's 4.5 PM. It matches. No issues.
Why? They have the money, they do need financial advise, where to invest. Otherwise he will say the same thing, create emergency fund, then go bad debt free and mutual funds.
Owners of the 2 luxury house do they need Real estate exposure🤔 May be he only needs to decrease his stock portfolio size to less than 20. HNI + HNI = more HNI😊
Hi Anshuman, informative episode. Mam said he forgets to pay his credit card bills, so did u consider that also in his monthly expense too? Also, what abt their life insurance & term insurance , it was not asked. As Mam said private jobs are insecure, do they have an emergency fund??
I have 1.7 Cr in bank in FDs. But I don't own a house or a car, I live on rent and use public transportation. I am 40 years old and no wife and no kids. I also have a pension which is guaranteed to give me 1.5 lakhs per month once I turn 62. My question is what should I do with my 1.7 Cr.
Kya kijiyega itne dhanrashi ka 🙃. Honestly, who are you actually earning for? Get married, and have a family. Can't take your money to the grave. Parents rahenge nahi and family bhi nahi rahi to it might turn detrimental for you. After a point, money won't really matter. House and car to kal hi le loge but fir kya, so think abt it. My POV, may or may not agree!!
@@rahulsengupta974 Parents already passed away several years ago. So there is no one else in my life, I only have to look after myself. I want to find a way to invest so I can live comfortably after retirement. I am not sure if my 1.5 lakh Rs/month pension will be enough for retirement after 22 years.
If a person invests in 97 stocks it's a bad thing.. But if the same money is invested thru the mutual fund route in 97 stocks it becomes good. Kya logic hai.
Investing in 97 stocks directly can still provide diversification. However, managing such a large number of stocks individually can be challenging for an individual investor. In contrast, investing in 97 stocks through a mutual fund offers the benefits of professional management, cost efficiency, and accessibility, while still maintaining diversification. Mutual funds have dedicated fund managers who actively manage the portfolio, making informed investment decisions and optimizing diversification across the stocks. This allows investors to benefit from the expertise of professionals while enjoying the advantages of diversification in a more convenient and efficient manner.
@@kautukmhatre585 , this is exact narrative, mutual fund industry wants to set.. Individual investors are dumb.. Mutual fund managers are geniuses. How else will these guys earn. Two questions also... Why majority of actively managed funds do not beat nifty index returns? Secondly when major market moves or future stock movement cannot be predicted, even by fund managers or so called experts, how are they any different from individual small time investors.
@@avinashvijaya2800 you are right if individual himself can do research and identify stocks to invest and able to track periodically one can have number of stocks as per his convinience. Provided he is reay to monitor and take decisions as go along. Only advantage in MF is one is not having much time or not interested in learning. He can invest passively in auto mode SIP at least money is allocated every month to certain scheme. 97 is very high number everyday dedication is required to monitor price changes. If not done may lead to long term losses and again it takes lot of time to recover. I am not expert nonfinace but trying to learn
I dont understand why prepay your loans? Adjusted for Inflation loan are less expensive in long term. It will give you better return if you invest that money in equity. Can anyone explain?
Yearly maintenance for a BMW 520D worth 70 lakhs is approx 2 Lacs, which includes insurance approx 1 lac, servicing would cost 25-35k after every 10k kms given it runs 20k yearly & other consumables like battery, tires, brake pads etc included over a time span of 5 years / 1 Lakh kms.
Hello guys I have a genuine question.... Actually I am a boy from very small town.... I am totally unaware about the income scales of METRO CITY employees.... In our village someone who is earning around 70k-80k considered as premium class of the society but in this show I am watching that everyone is earning more than 1lakh .... Is this very easy to earn this much in metro cities?
Hi Arnab no it’s not easy to earn 1L a month , the couple here is experienced and seems to have minimum 8-10 years of experience for starters in metro cities too the salaries are capped and low with experience the salaries rise .
For me, it seems senile to live a life where circulation of paper money and electronic money matters more. After doing My Mechanical Engineering and then Business management from SJMSOM, IIT Bombay and then working in a steel industry i realized that money doesn't solve everything. I belong from Ranchi, Jharkhand and my parents live there. In 2015 i left the life i always wanted to have of living in a metro and left my job. I gave an Graduate level gov't bank exam , IBPS PO and joined a govt bank as a PO in 2016 , I am posted in and around Ranchi and i haven't taken any promotion till now. One of the main reason behind this i that i could have never left the land where my parents grew up and took care of me. I am so much grounded here metaphorically and literally too, not like in metros where it is almost impossible to live in an individual house where you can actually be close to be the land mother nature gave us and you can never have your own farming land there in metros. People have become mean these days, they don't live with their in laws maybe because 2-3 bhk is small for a joint family and also we have to pay back the loan for the house so we keep working for 12-14 hours (including time spend with traffic and pollution) that means we don't have time for them. This economy wants you to sell your land back in village or in smaller areas and it wants you to move to big cities, it wants you to buy groceries from supermarket, want you to have a vehicle loan ,home loan so you never get out of it. it wants you to get a education in a school or college in a big city, it wants you get treated in a big hospital. This economy wants us to convert our gardens into concrete parking areas, our farms into apartments. These capitalists wants you to get stuck in this economy. This economy is making our cities less green, more congested, where we need an appliance to purify our air and drinking water. We should not glamourize this life ..i find it painful when people are elated about buying a flat in 19th floor of a building in Mumbai. So, what is use of this economy which runs on the basis of circulation of paper and electronic money and not on the basis of circulation of humanity, health, hygiene and safety.
why is there no like on this comment brother, Great words and mostly resonate with me as well, but yeah for some time its hard for most of us to leave metro as we work there in IT , but yeah that life is not that great for old school people
Brand new which using now and after company extent warranty of 5 years , normal expenses is for maintenance is coming between 25 to 40 which including things in consumables and Maintannce ( washing cleaning , filters , Tyre ) also fuel is depend on the running . Pre owned laxity cars are fire in back . Single spare also making you huge burn.
@@kknandan143 Hi, I am a college student so just trying to understand. Why will they get only 70-80L out of 1.1Cr? what deduction is that? and then on top of that Taxes also?
@@burneraccount5694 1.1 cr is CTC.... company provides facilities to employees for that they cut amounts from CTC salary.....some money go to Provident fund (PF).....this amount you will get after retirement
Okay this was a great episode but i still feel like a couple who is earning over a crore and they still have to think about buying a car is just unimaginable to me… now for the pikachus who will shout “its a depreciating asset” “not a viable option” He did mention he loves driving and after working for around 10 years and earning around a crore and you still have to think about buying a good car is absurd…. Yes he can wait for next 6 years or 10 years and buy a luxury car but really i never want someone who loves driving/Cars to drive a beamer or even Lamborghini at 50 years age…. Save money people but also understand live for yourself first
@@arghyadeep5738 Aree wh bolte hai but yeh business waale proper tax nahi bharte ya business expense bta apne assets such as car wagerah kharid lete jiske liye aapka profit kam ho jaata and hence tax bahut kam lagta. Plus apne and family members k naam se chalate taaki 30% slab me naa fall kare, bahut manipulate krte. Kat ta salaried waalo ka hai. Government should think of ways to curb this. Massive tax evasion
@Anshuman: I am seeing cases where folks are rotating credit cards with life style demands and not able to come out of the trap. Please do a video on how folks can come out of such instances.
Anshuman bro have lost weight looking smart ❤😂 By the way i just observe people and their expenses in many episodes of this series and found that koi kam earn kre ya jyada paisa home loan emi me jata h majorly expenses ka
Hi Anshuman! I watched this video, and here's a suggestion. I respect you for sharing your advice for stock investments but telling someone upright on the camera about the mistake that they made can be a little awry. Think on it!
Anshuman is a little kid for them ; they called him just out of a self obsession for their wages. They need a marketing guy for their little achievements.
Anshuman what is this yaar ? You are representing a 0.01 % working class family! No offense RICH PEOPLE DO GET THE FEELING OF BROKE ! But where is this related to Fix your Finance ???
Hello I have a genuine question.... Actually I am a boy from very small town.... I am totally unaware about the income scales of METRO CITY employees.... In our village someone who is earning around 70k-80k considered as premium class of the society but in this show I am watching that everyone is earning more than 1lakh .... Is this very easy to earn this much in metro cities?
@@arnabdipsaha8767because all of them are software engineers that's why if you want to become a crorepati and flex your salary online become a software engineer.
Hi Anshuman, its my humble request that try to make videos on bachloers or who have less income according to market situation this will really help to the people who really want to fix their finaces
Jo log uttarakhand me land ya Ghar khareede honge aur wahan pe landslides aur earthquakes me sab gaya hoga...kaisa lag raha hoga unko?😂 Kehna ka matlab hai ki kuch bhi investment risk free nahi hota. Hence follow a diversified portfolio, not just real estate.
Bhai Anshuman why are you suggesting them to take emi for car? when they want to buy after 5-6 years. Ask them instead to put same amount of money as emi in a mutual fund and by 5th year they can buy a luxury car just out of the returns from that, just from the profit and still have the extra total amount that they invested, which they can leave as it is there and it will keep growing. Bro you are supposed to fix their finance and help people make money from money and here you are giving then ways to get into debts again and make create more liability?
Over diversifications are not always bad. I am not talking about company but atleast 60 company you can have if your income is large. Even its a better option 20 in consistent compounder HUL/HDFC type Last 40 in small or mid cap. 15 of them will go to 00 10 of them will give a nifty return 12-13% 10 of them will give slight higer 15% CAGR 5 of them have a chance to become a multibagger. Do youe own math. You will be in a much peofit. Mutual fund which most of the people dont understand the 1% cost of AUM Lets say u have an 1 lakh rs portfolio.. 10000 rs profit.. They will take 1% of the total AUM.. 1100 rs.. Which is more than 10% of your total profit with no dividend.. Please correct me if I am wrong
Who can do stocks by themselves, good for those. But who doesn't have any understanding about stocks basic analysis or can't manage that, they can go for equity mutual funds too to reap the benefits of equity investing. One can go for index funds (direct) as they have very low expense ratio say .2-.3% of AUM.
Let's say if you are buying a car and owned it for 8 years. The Math works like this, Example VW Virtus GT TSI or higher Say OTR Cost is : 25 lakhs. Insurance for 8 years : 4 lakhs approx. Service cost : 3 lakhs approx. Money spent is money lost, if 25 lakhs wouldn't have been spent on the car then that money would in your bank account and earns interest for you. So if you calculate the interest lost on 25 lakhs or the same if it is invested in stocks or mutual funds or regular bank FDs, the money will get doubled in 8 years. So 25 lakhs becomes 50 lakhs @ 8% interest p.a. which is realistically possible in the current market scenario. After 8 years. Resale of a VW GT TSI will be at max 5 to 6 lakhs. Total money lost in 8 years. + 25 lakhs spent on car + 25 lakhs interest for 8yrs + 7 lakhs Service and insurance - 6 lakhs, resale..after 8 years So, an individual loses 51 lakhs approx on a 25 lakh car purchase in a span of 8 years and the same math will work out for any car. So according to me if a person has 51 lakhs of disposable income then they can definitely go ahead and buy a 25 lakh car.
The sad part for me(might not be for others) is tha their maid and cook draw 4000 per month. That seems like kind of exploitation to me. Like I said, I might be wrong
you talk about job uncertainity and want to buy BMW which has 3 lacs a year + consumables to maintain it. How you cn plan prepayment of home loan. Learn to live frugally for few years come out debt. You should aim for surviving without job.
I mean they can afford 50lac worth of a car but question is why even it required. Just to show off ? I mean the day they come across person who owns Ferrari Lamborghini or Rolls Royce then what. It will feel same as the way they might be feeling now with ordinary car vs someone owning BMW. In this fix your finance thing, they must not think of owning 50lac worth of car rather invest that amount and that will be way helpful. How come Anshuman suggesting them to own expensive car. Motive is lost for this video then.
Title should be “flaunt your finance skill” instead of fixing 😅 I think in place of calling Anshuman husband could have taken his wife’s advice to fix his finance😁😁
Well I mean if you like spend around 7-10 years in the same org and keep learning and growing, you would easily reach senior staff/principal engineer level.
cars are the worst investment in india. in india you get best roi with people, you can get all the staff to pamper you. instead of spending 50k pm EMI on car i will buy a 20L SUV and use rest of the money for a chauffer to relieve of traffic headaches. then spend another 10k per month to get a personal trainer for family and another 10k per month for a luxury health club.
I feel even with such high pay owning a German car is still tight . In 50 lacks you still get an entry level base modal kind of german car . This clearly shows that your income is not your net worth 😄
Can someone explain how a 1.1 Cr Gross salary translates to 4.5 Lakhs p.m. in -hand .. is the balance of 50 lakhs goes to taxes, and PF only or is there something else ? what is the breakup of that 50 lakhs . curious to know, as it is a big chunk (~45%) of Gross salary.
Usually your CTC also includes variable pay, PF, gratuity, superannuation/NPS etc which are not part of your monthly in hand and of course taxes on top of that. Some companies also have stock options which is again not part of you monthly in hand
There's nothing to flex here. The couple is indeed down-to-earth and humble. Talking to Anshuman helps reveal some glaring mistakes they are doing (applicable for most people he talks to). -- The Gentleman's saving/investment rate is low low low. Even after expenses, he has 2-2-5 L left each month. He could easily build a healthy corpus (but he won't -- investing little into MFs/SIP, too many stocks at around 40 K per month is too less for someone making around 4.5 L, and no comments on that ONE stock of a company he works for (it's fine). -- Car 1 (It's a liability, but the lady needs it for work). They paid in cash (awesome). If she's smart and ambitious (with money goals), she'll make the money back. Car 2, however, is just screaming stupid (unless he has -- or invests leading to a corpus enough cash to pay 2-3 of those luxury cars in cash outright). -- Flat they are staying in? Absolutely fine (roof over their head thing). The second house? Not required (and it'll drain them off their wealth for a long time). The gentleman will continue to itch to buy another one (3rd) -- because it's fashionable to do so (but it's extremely stupid). Please, sit down and do the math (Is the rent or sale value of the flat less or more than the: downpayment + loan Interest + Capital gains (if sold)+ maintenance + parking + fees + property taxes and more)
Why are these people taking advice from this guy? Rich people take advice from rich people not poor people. And rich people don’t disclose their finances on a public channel
Exactly! Imagine earning 7 lakhs a month and still unable to buy basic model bmw. That formula Anshuman used is really fu**ed up. It is better to use that only in salary range of 10-25 LPA. After that you can afford most cars logically.
I'd say the immediate change that could be done here is to buy a entry level EV, like Tata Tiago or even MG Comet since the wife is travelling approx 40km a day. The EV costs only 10L which will not cause huge impact on their financials. Another added benefit would be the ease of driving in traffic as EVs have Automatic transmission (Cause one gear!). Rough calculation on fuel expense ASSUMING these factors: Fuel : Petrol Fuel Economy: 12.5 km/l (** Solely based on average fuel economy of a hatch with city and highway conditions) So 20 working days a month + leisure travel of say 200km: (40km * 20) + 200 = 1000km No. of litres consumed: 1000km / 12.5 km/l = 80 l Cost of fuel: 80l * Rs102 (Fuel price at the time of writing) = Rs. 8160 per month They mentioned that they spend 17k a month on travel alone. May be buying an EV will help to reduce this figure and better the travel experience.
You are currently acting like ameero ka Robinhood… advising rich people how to handle their richness …. Definitely not going with your series name “ plan your finances” rich can do away with that
They are here to fix Anshumans finance
LoL true 😂😂😂😂
😂😂
Lol 😂
😂😂so true
😂😂😂😂
Came into the video thinking 1.1cr was networth and got depressed seeing its an annual income 😅
Now this show is flexing finance not fixing finance 😂😂😂😂
I agree completely !!!
Can't agree more. There was no fixing going on other than reducing the stocks in the portfolio, which the guy also knew.
No gyaan, sirf time pass.
New episode maybe flexing my finance. :P
No one is flexing ,it's just insecurities of unsuccessful or low salaried people projective on smart rich individuals
True 💯😆
Bro make more videos for 5 lakhs, 7 lakhs and 8 lakhs salary people so that it helps a lot of people
Means annual salary of 5 to 10 lakhs not monthly
but this video is more for middle class..ur turn will also come
Hi @anshuman humble request, please focus on who really needs to fix their finances ,these PPL are already rich enough they don't need any fixation
Lol but this is the easiest clickbait. Also nobody likes showing that they are in financial trouble.
@@d-k-1 but aren't the show supposed to help them who is in need
What will you fix if you don’t have finances to fix?
@@SherwF lol,
They are covered because they are rich. Who want to fix the finance of family earning 15k per month with 2 kids? Challenge is to do financial planning for those vs these rich familieies
Another high compensation video I cannot relate to 😢😅
Still blows my mind how expensive real estate is in India considering average pay!
In a few years only CEOs , high paid actors and rich people will be able to afford buying a house. 😅. Rest of the population will be paying EMIs until they die
@@sonusuresh6642that's why they bought this reai, like mutual fund people will invest in real estate. Also these NRI foreign investors are more. And also everyone is able to buy house in a lifetime though it is expensive
@@hemshah1567 one with high population and demand, japan has Rs2 property
@Anshuman - to answer the question on Maintenance for cars upward of 50 lacs, they need to account for the following.
Insurance - 60 to 80k PA
Annual service - 20 to 30k PA
Incidentals / Misc exp - 12 to 15k PA
Tyre swap every 2 to 3 years depending on ones driving habits and KMS they cover - say 60k INR for a set of 4.
(Mostly applicable for Euro/ German Cars)
If you buy fortuner or some reliable brand car then figures you have mentioned are correct. But if you buy an german car without service package. Annual maintenance will cost you post 1 lakh and most of the cars are running on automatic gearbox so fuel efficiency is also going to be around 8-10. So it really matters which car you are buying because you can get get bmw 2 series in same price bracket as legender but maintenance cost will vary for both cars.
@@fourdoorsmorehoes. Sure. I drive both a Volvo and a Kodiaq and their maintenance are a shade under the range I mentioned. Haven't accounted for fuel expenses. It's about the same with a 10 to 20% delta for Bimmer and Audi too ( say for the 3,5, A4 and A6)
These videos increase the aspiration level, thanks for bringing this up
Most sensible husband and wife duo I have seen on this channel. Congratulations🎉 because it is rare nowadays to find couples who are financially aware. Helps that the wife is in the banking system.I would rethink the car but apart from that overall portfolio is really decent financially and level headed as well. If you have planned for your kid's future then you can go for another real estate but you need to live tightly instead of quite freely.
Everything starts making sense when you earn 1cr 😂😂
You have good content but you are not investing on mic and other accessories. Volume is very low.
Exactly 😂 my volume is 100 percent
And can't hear it aache se
So true
Anshuman seems to be sick.. low energy/cold/sore throat
Audi Q2(60+ lakhs) ka maintainance per year 2 lakhs+ hai bro
Entry Level Audis and Mercs will go up to 1 to 1.5L PA for just regular maintenance. A BMW will be close to a 75-80K and a Volvo would be 35 to 50K PA. Other perishables like Brake Pads, Discs etc are extra every year or two. Add insurance of 1 to 1.5LPA. So yes owning a luxury car does come with caveats. But it's a great feeling owning one
your answer is so precise, curious to which car you own!
@@kamranwasifify I'm watching a finance channel, and I know how expensive things can get in one. Take a guess 🙈
@@vidishmonani I am thinking of owning a BMW.
Only problem is I don't have a job!
@@vidishmonani which finance channel u follow?
I don't know why people are against this video, thinking it as flex your finance,unrelatable and kinda useless
People can see it as an aspirational video as well, how do people earning a crore in just a year spend money,how flexible and comfortable life can become, expensive trips frequently,nice restaurants every weekend and thoughts about a luxury car
This video was really good, because we may have never seen detailed expenses and thoughts about people earning a crore yearly and it was interesting to see it
Now that you have 2 houses, instead of going for a Luxury car, buy a preleased commercial property which will generate you income in the form of rent, plus the property value will also appreciate with time, later your loan eligibility will also increase considering your rental income along with your fixed salaries, on top of that you can get even more loan eligibility and mortgage the same property to invest in even more such properties and with those fixed rental incomes you can become financially independent and later buy a fancy luxury car which is btw a depreciating asset but yes, considering the lifestyle and as you mentioned you are a driving enthusiast you can buy a Luxury car
Wow
They are here just to make us feel miserable about our salaries 🤣🤣🤣
😂😂
Very risky buying pre-owned BMW which is 6 years old especially for a first time buyer. Major part failures can easily cost 5-10 lakhs outside warranty.
Compensation is 1.1 cr and in hand is 54 lakh!? 50% going for taxes? Could somebody please elaborate on this?
Please invest in a good mic. Because volume in your videos in very low.
Anshumran frankly this series should focus on people who don’t earn well and your advise should be targeted at having them do that well!!! Telling people who are doing well to keep doing well …. Does not make sense
Hi Anshuman.. Waiting eagerly for the episode with some insightful information.👍
I own a luxury car. I would suggest you to not go for it, it's just not worth it. Service costs can go till 75k-90k and on top of that there can be other issues which will start popping after 4-5 years that will cost you a bang. If you want the feel of a luxury car but at the same time be practical, I would suggest you to go for a VW. The VW virtus is a really good car which costs around 20L and the maintenance is a lot cheaper. The ride quality and everything will be just as good as any other German car.
1.1 cr and their take home is INR 4.5 lacs? Something doesn't add up or they have a huge bonus component pay out at the end of each year. Just a guess.
banks do that
Yeah they might have bonuses and RSUs additionally. 4.5 per month might be just the Base salary.
Maybe 30% taxes and then deductions like pf etc
@@Ankit-kh3fst's called in hand salary, as per the video. Not just base salary
And yes, if CTC is 1.1, you will get around 75-80 after PF etc deductions, and then around 55-60 after taxation .. that's 4.5 PM. It matches. No issues.
Get well soon anshuman.. you sound like you caught a cold! 🥶
Don't waste your episodes bro... help people who actually needs it.. I pretty sure whoever is earning 1.1 cr don't need your help.
Why? They have the money, they do need financial advise, where to invest. Otherwise he will say the same thing, create emergency fund, then go bad debt free and mutual funds.
Zyada Paisa zyada problem to manage , kya baat karte ho bhai
Lol if they were earning 50crores they'd need help with finances.😂
Garib ko amir banao, amir ko amir nai 😅
Hahaha 😂
Owners of the 2 luxury house do they need Real estate exposure🤔
May be he only needs to decrease his stock portfolio size to less than 20.
HNI + HNI = more HNI😊
love the episode man but audio is very soft.
Hi Anshuman, informative episode. Mam said he forgets to pay his credit card bills, so did u consider that also in his monthly expense too?
Also, what abt their life insurance & term insurance , it was not asked.
As Mam said private jobs are insecure, do they have an emergency fund??
They do have an emergency fund and term plans
@@anshumanfinanceCould you please bring this topic with your next guest....as we all know these days layoffs are happening in a large scale .
I have 1.7 Cr in bank in FDs. But I don't own a house or a car, I live on rent and use public transportation. I am 40 years old and no wife and no kids. I also have a pension which is guaranteed to give me 1.5 lakhs per month once I turn 62. My question is what should I do with my 1.7 Cr.
Kya kijiyega itne dhanrashi ka 🙃.
Honestly, who are you actually earning for? Get married, and have a family. Can't take your money to the grave. Parents rahenge nahi and family bhi nahi rahi to it might turn detrimental for you. After a point, money won't really matter. House and car to kal hi le loge but fir kya, so think abt it. My POV, may or may not agree!!
@@rahulsengupta974 Parents already passed away several years ago. So there is no one else in my life, I only have to look after myself. I want to find a way to invest so I can live comfortably after retirement. I am not sure if my 1.5 lakh Rs/month pension will be enough for retirement after 22 years.
@@whatever3041 Remove the 1.7 FD put 1 CR in stocks/mutual funds. and keep FD max of 50L
1.7cr, 50% put in fd (try atleast 7 interest or abv) and 40% put in debt fund and 10% in gold and other commodities.
Whom your working sir 🙄
Total CTC: 1.1 Cr
In hand: 54 lakhs (=4.5*12)
In hand salary is approximately 50% of CTC.
It doesn't seem to be true. What you say?
CTC also includes variable pay, gratuity, PF, superannuation etc which is not part of your monthly inhand and add tax on top of that.
Basic takeaway from this video for me is, "If it ain't broken do not fix it." I fail to see what needs to be fixed here.
Bro, don't hurry to close your home loan. Put that extra EMI in one index fund.
If a person invests in 97 stocks it's a bad thing.. But if the same money is invested thru the mutual fund route in 97 stocks it becomes good.
Kya logic hai.
Investing in 97 stocks directly can still provide diversification. However, managing such a large number of stocks individually can be challenging for an individual investor. In contrast, investing in 97 stocks through a mutual fund offers the benefits of professional management, cost efficiency, and accessibility, while still maintaining diversification. Mutual funds have dedicated fund managers who actively manage the portfolio, making informed investment decisions and optimizing diversification across the stocks. This allows investors to benefit from the expertise of professionals while enjoying the advantages of diversification in a more convenient and efficient manner.
@@kautukmhatre585 , this is exact narrative, mutual fund industry wants to set.. Individual investors are dumb.. Mutual fund managers are geniuses.
How else will these guys earn.
Two questions also...
Why majority of actively managed funds do not beat nifty index returns?
Secondly when major market moves or future stock movement cannot be predicted, even by fund managers or so called experts, how are they any different from individual small time investors.
mutual fund is hassle free . invest and forgot
@@kautukmhatre585 yes
@@avinashvijaya2800 you are right if individual himself can do research and identify stocks to invest and able to track periodically one can have number of stocks as per his convinience. Provided he is reay to monitor and take decisions as go along. Only advantage in MF is one is not having much time or not interested in learning. He can invest passively in auto mode SIP at least money is allocated every month to certain scheme.
97 is very high number everyday dedication is required to monitor price changes. If not done may lead to long term losses and again it takes lot of time to recover. I am not expert nonfinace but trying to learn
I dont understand why prepay your loans? Adjusted for Inflation loan are less expensive in long term. It will give you better return if you invest that money in equity. Can anyone explain?
Yearly maintenance for a BMW 520D worth 70 lakhs is approx 2 Lacs, which includes insurance approx 1 lac, servicing would cost 25-35k after every 10k kms given it runs 20k yearly & other consumables like battery, tires, brake pads etc included over a time span of 5 years / 1 Lakh kms.
Hello guys I have a genuine question.... Actually I am a boy from very small town.... I am totally unaware about the income scales of METRO CITY employees.... In our village someone who is earning around 70k-80k considered as premium class of the society but in this show I am watching that everyone is earning more than 1lakh .... Is this very easy to earn this much in metro cities?
Hi Arnab no it’s not easy to earn 1L a month , the couple here is experienced and seems to have minimum 8-10 years of experience for starters in metro cities too the salaries are capped and low with experience the salaries rise .
Flexing the finance with Anshuman 😆💪
With the kind of lay off happening in IT sector due to A.I we cant afford to have these extra risks. I hope one day everything will be changed.😢
you hope things will change to worse?
if you wont take risk then you're already losing money due to inflation.
@@thewierd_thewonderful996 that depends on Government policies for unemployment due to A.I
For me, it seems senile to live a life where circulation of paper money and electronic money matters more. After doing My Mechanical Engineering and then Business management from SJMSOM, IIT Bombay and then working in a steel industry i realized that money doesn't solve everything. I belong from Ranchi, Jharkhand and my parents live there. In 2015 i left the life i always wanted to have of living in a metro and left my job. I gave an Graduate level gov't bank exam , IBPS PO and joined a govt bank as a PO in 2016 , I am posted in and around Ranchi and i haven't taken any promotion till now. One of the main reason behind this i that i could have never left the land where my parents grew up and took care of me. I am so much grounded here metaphorically and literally too, not like in metros where it is almost impossible to live in an individual house where you can actually be close to be the land mother nature gave us and you can never have your own farming land there in metros. People have become mean these days, they don't live with their in laws maybe because 2-3 bhk is small for a joint family and also we have to pay back the loan for the house so we keep working for 12-14 hours (including time spend with traffic and pollution) that means we don't have time for them. This economy wants you to sell your land back in village or in smaller areas and it wants you to move to big cities, it wants you to buy groceries from supermarket, want you to have a vehicle loan ,home loan so you never get out of it. it wants you to get a education in a school or college in a big city, it wants you get treated in a big hospital.
This economy wants us to convert our gardens into concrete parking areas, our farms into apartments. These capitalists wants you to get stuck in this economy.
This economy is making our cities less green, more congested, where we need an appliance to purify our air and drinking water.
We should not glamourize this life ..i find it painful when people are elated about buying a flat in 19th floor of a building in Mumbai.
So, what is use of this economy which runs on the basis of circulation of paper and electronic money and not on the basis of circulation of humanity, health, hygiene and safety.
why is there no like on this comment brother, Great words and mostly resonate with me as well, but yeah for some time its hard for most of us to leave metro as we work there in IT , but yeah that life is not that great for old school people
Unable to understand how in-hand is 4.5 lakh if compensation is 1.1 crore?
Not sure if they are espos
How does 1.1 CR translate to 4.5 lakhs a month ?
if u drive 10000-15000km a year then the yearly exp of a 50-60L car is around 60-70K
50 lakh ki car mein agar fortuner liya toh maintenance kam padega warna bohot hoga baki companies ka
Brand new which using now and after company extent warranty of 5 years , normal expenses is for maintenance is coming between 25 to 40 which including things in consumables and Maintannce ( washing cleaning , filters , Tyre ) also fuel is depend on the running . Pre owned laxity cars are fire in back . Single spare also making you huge burn.
Annual maintenance of a car excluding fuel should be around 2 percent of on road price of four wheeler and 1 percent of 2 wheeler
Genuinely asking, If they are earning 1.1CR per year, how is monthly income 4.5 lacs?
Is government taking 56 lacs in tax!!??
In hand they will get 70-80L after deduction.....then 30% tax deduction .....it will become 50-56 lakh......so 4.5-5/month sahi hai
@@kknandan143 Hi, I am a college student so just trying to understand. Why will they get only 70-80L out of 1.1Cr? what deduction is that? and then on top of that Taxes also?
@@burneraccount5694 bhai ctc or base pay me fark hota hai. Google karlo
@@burneraccount5694 1.1 cr is CTC.... company provides facilities to employees for that they cut amounts from CTC salary.....some money go to Provident fund (PF).....this amount you will get after retirement
@@yashpalsinghrathore995 Likha to hai ki wo college student hai usako nahi pata..... Student Life me ye baat nahi pata hoti hai bahut ko.....
Okay this was a great episode but i still feel like a couple who is earning over a crore and they still have to think about buying a car is just unimaginable to me… now for the pikachus who will shout “its a depreciating asset” “not a viable option”
He did mention he loves driving and after working for around 10 years and earning around a crore and you still have to think about buying a good car is absurd…. Yes he can wait for next 6 years or 10 years and buy a luxury car but really i never want someone who loves driving/Cars to drive a beamer or even Lamborghini at 50 years age….
Save money people but also understand live for yourself first
Loving this series.
Its better you concentrate on people who are earning less then 20L per anum, as 90 percent of earners will come under this catogery.
75 of Indian population earn below 25k per month as per report so 😂.... almost 95-96 person people will fall under 20L per anum level
@@arghyadeep5738 Aree wh bolte hai but yeh business waale proper tax nahi bharte ya business expense bta apne assets such as car wagerah kharid lete jiske liye aapka profit kam ho jaata and hence tax bahut kam lagta. Plus apne and family members k naam se chalate taaki 30% slab me naa fall kare, bahut manipulate krte. Kat ta salaried waalo ka hai. Government should think of ways to curb this. Massive tax evasion
35000 for groceries is tooo high does she feed 10 people?
When is the new video coming boss...
@Anshuman:
I am seeing cases where folks are rotating credit cards with life style demands and not able to come out of the trap. Please do a video on how folks can come out of such instances.
Anshuman bro have lost weight looking smart ❤😂
By the way i just observe people and their expenses in many episodes of this series and found that koi kam earn kre ya jyada paisa home loan emi me jata h majorly expenses ka
🤣
Just another time pass video without any insights.
0:40 correct me if i am wrong, didn't both husband and wife had same screen while they were telling about their jobs . Some random tables .
That’s just for depiction….it’s probably shot at their home not actual office desk!
@@lifeisbeautiful4371 yes bro i understood that. But still it's funny 😆
What's the qualification of Anshuman?
His recommendations make me question this. Just curious!
@anshuman you should learn some etiquette when interviewing and some.camera angles. Touching your feet and showing that to the audience is bad editing
Hi Anshuman! I watched this video, and here's a suggestion. I respect you for sharing your advice for stock investments but telling someone upright on the camera about the mistake that they made can be a little awry. Think on it!
Anshuman is a little kid for them ; they called him just out of a self obsession for their wages. They need a marketing guy for their little achievements.
Showing off money is not fixing finance
Anshuman what is this yaar ? You are representing a 0.01 % working class family! No offense RICH PEOPLE DO GET THE FEELING OF BROKE ! But where is this related to Fix your Finance ???
Hello I have a genuine question.... Actually I am a boy from very small town.... I am totally unaware about the income scales of METRO CITY employees.... In our village someone who is earning around 70k-80k considered as premium class of the society but in this show I am watching that everyone is earning more than 1lakh .... Is this very easy to earn this much in metro cities?
@@arnabdipsaha8767because all of them are software engineers that's why if you want to become a crorepati and flex your salary online become a software engineer.
Hi Anshuman, its my humble request that try to make videos on bachloers or who have less income according to market situation this will really help to the people who really want to fix their finaces
You will not get 9.5% interest rate for a used car. Better to save and buy cash
Always go for Real Estate.
That's the only REAL thing 💪
Jo log uttarakhand me land ya Ghar khareede honge aur wahan pe landslides aur earthquakes me sab gaya hoga...kaisa lag raha hoga unko?😂 Kehna ka matlab hai ki kuch bhi investment risk free nahi hota. Hence follow a diversified portfolio, not just real estate.
@@religionofpeace782 Abey chomu har koi uttrakhand me thodi jameen kharidta hai 🤣 real estate me sabse jyada Paisa hai
@@religionofpeace782gandu adani abhi Pkra gya toh 0 ho jayega paise land h toh vpas Ghar bna payega paise jama kr kr Thora years m
chutiye har koi adani ke stocks me invest nehi karta, index fund naam ka bhi koi cheez hota hai. @@monishsachdev
Bhai Anshuman why are you suggesting them to take emi for car? when they want to buy after 5-6 years. Ask them instead to put same amount of money as emi in a mutual fund and by 5th year they can buy a luxury car just out of the returns from that, just from the profit and still have the extra total amount that they invested, which they can leave as it is there and it will keep growing.
Bro you are supposed to fix their finance and help people make money from money and here you are giving then ways to get into debts again and make create more liability?
Over diversifications are not always bad. I am not talking about company but atleast 60 company you can have if your income is large. Even its a better option
20 in consistent compounder HUL/HDFC type
Last 40 in small or mid cap.
15 of them will go to 00
10 of them will give a nifty return 12-13%
10 of them will give slight higer 15% CAGR
5 of them have a chance to become a multibagger.
Do youe own math. You will be in a much peofit.
Mutual fund which most of the people dont understand the 1% cost of AUM
Lets say u have an 1 lakh rs portfolio.. 10000 rs profit.. They will take 1% of the total AUM.. 1100 rs.. Which is more than 10% of your total profit with no dividend..
Please correct me if I am wrong
Who can do stocks by themselves, good for those. But who doesn't have any understanding about stocks basic analysis or can't manage that, they can go for equity mutual funds too to reap the benefits of equity investing. One can go for index funds (direct) as they have very low expense ratio say .2-.3% of AUM.
Let's say if you are buying a car and owned it for 8 years.
The Math works like this,
Example VW Virtus GT TSI or higher
Say OTR Cost is : 25 lakhs.
Insurance for 8 years : 4 lakhs approx.
Service cost : 3 lakhs approx.
Money spent is money lost, if 25 lakhs wouldn't have been spent on the car then that money would in your bank account and earns interest for you. So if you calculate the interest lost on 25 lakhs or the same if it is invested in stocks or mutual funds or regular bank FDs, the money will get doubled in 8 years. So 25 lakhs becomes 50 lakhs @ 8% interest p.a. which is realistically possible in the current market scenario.
After 8 years. Resale of a VW GT TSI will be at max 5 to 6 lakhs.
Total money lost in 8 years.
+ 25 lakhs spent on car
+ 25 lakhs interest for 8yrs
+ 7 lakhs Service and insurance
- 6 lakhs, resale..after 8 years
So, an individual loses 51 lakhs approx on a 25 lakh car purchase in a span of 8 years and the same math will work out for any car. So according to me if a person has 51 lakhs of disposable income then they can definitely go ahead and buy a 25 lakh car.
The sad part for me(might not be for others) is tha their maid and cook draw 4000 per month. That seems like kind of exploitation to me. Like I said, I might be wrong
you talk about job uncertainity and want to buy BMW which has 3 lacs a year + consumables to maintain it. How you cn plan prepayment of home loan. Learn to live frugally for few years come out debt. You should aim for surviving without job.
Nice and Well guided by you to him about Stocks and mutual fund.
Don't understand how their in hand income is only 50% of their total CTC.
Still i dont understand income is 4.5 lakhs and they are in to debt. strange and not planned properly
Annual maintenance with insurance is about 2.5-3 lakhs for a luxury brand car
I mean they can afford 50lac worth of a car but question is why even it required. Just to show off ? I mean the day they come across person who owns Ferrari Lamborghini or Rolls Royce then what. It will feel same as the way they might be feeling now with ordinary car vs someone owning BMW.
In this fix your finance thing, they must not think of owning 50lac worth of car rather invest that amount and that will be way helpful.
How come Anshuman suggesting them to own expensive car. Motive is lost for this video then.
Title should be “flaunt your finance skill” instead of fixing 😅
I think in place of calling Anshuman husband could have taken his wife’s advice to fix his finance😁😁
Audio not loud enough. Please fix that before you fix people's finances.
bhaiya plz delhi aa jao meri mmi papa ka bhi finance fix krdo
11 years of job and no savings i m scared
Becoming a principal engineer is not a joke
Well I mean if you like spend around 7-10 years in the same org and keep learning and growing, you would easily reach senior staff/principal engineer level.
But yeah, earning this much is really difficult
First of all its nothing much, this combined salary is not much for this job profile combination at late 30s in Bengaluru
@@debanjandas8192 what do people of banglore mostly do
great video anshuman, your videos are good brushup to basics of finance. Thankyou
Thank youuu
cars are the worst investment in india. in india you get best roi with people, you can get all the staff to pamper you. instead of spending 50k pm EMI on car i will buy a 20L SUV and use rest of the money for a chauffer to relieve of traffic headaches. then spend another 10k per month to get a personal trainer for family and another 10k per month for a luxury health club.
I feel even with such high pay owning a German car is still tight . In 50 lacks you still get an entry level base modal kind of german car . This clearly shows that your income is not your net worth 😄
Can someone explain how a 1.1 Cr Gross salary translates to 4.5 Lakhs p.m. in -hand .. is the balance of 50 lakhs goes to taxes, and PF only or is there something else ? what is the breakup of that 50 lakhs . curious to know, as it is a big chunk (~45%) of Gross salary.
Probably RSUs, Bonuses and Taxes are 45%
@@kipa_chu what is the likely split of these?
Usually your CTC also includes variable pay, PF, gratuity, superannuation/NPS etc which are not part of your monthly in hand and of course taxes on top of that. Some companies also have stock options which is again not part of you monthly in hand
@@pratrixspace8644 split? Curious to know for a 1.1 Cr p.a. family. Can't anymore understand my question.
Let me try to help you:
Gross: 1.1 Cr
35 lacs for total income tax.
20 lacs for post-tax stocks.
approx 55 LPA in hand as cash. (4.5 * 12 = 54 lacs)
3 lacs a year + consumables to maintain a german car
Kuch jyada hi hogaya.. wtf Anshuman. bring us realistic scenarios
Good video, I have one suggestion never ever buy that much costly car it’s not worth it.
There's nothing to flex here. The couple is indeed down-to-earth and humble. Talking to Anshuman helps reveal some glaring mistakes they are doing (applicable for most people he talks to).
-- The Gentleman's saving/investment rate is low low low. Even after expenses, he has 2-2-5 L left each month. He could easily build a healthy corpus (but he won't -- investing little into MFs/SIP, too many stocks at around 40 K per month is too less for someone making around 4.5 L, and no comments on that ONE stock of a company he works for (it's fine).
-- Car 1 (It's a liability, but the lady needs it for work). They paid in cash (awesome). If she's smart and ambitious (with money goals), she'll make the money back.
Car 2, however, is just screaming stupid (unless he has -- or invests leading to a corpus enough cash to pay 2-3 of those luxury cars in cash outright).
-- Flat they are staying in? Absolutely fine (roof over their head thing).
The second house? Not required (and it'll drain them off their wealth for a long time).
The gentleman will continue to itch to buy another one (3rd) -- because it's fashionable to do so (but it's extremely stupid).
Please, sit down and do the math (Is the rent or sale value of the flat less or more than the: downpayment + loan Interest + Capital gains (if sold)+ maintenance + parking + fees + property taxes and more)
Why are these people taking advice from this guy? Rich people take advice from rich people not poor people. And rich people don’t disclose their finances on a public channel
Hi Anshuman, can you show more videos for a range of income 1-1.5 lac a month.
7 lakh ka salary leke surf Fortuner afford karne ki baat. Wow.
Exactly! Imagine earning 7 lakhs a month and still unable to buy basic model bmw. That formula Anshuman used is really fu**ed up. It is better to use that only in salary range of 10-25 LPA. After that you can afford most cars logically.
Ayushman ji thoda Sound bada dijiye.... bahut low hai
4000 mei cook where do u get and also home helper in 4000????
I'd say the immediate change that could be done here is to buy a entry level EV, like Tata Tiago or even MG Comet since the wife is travelling approx 40km a day. The EV costs only 10L which will not cause huge impact on their financials. Another added benefit would be the ease of driving in traffic as EVs have Automatic transmission (Cause one gear!). Rough calculation on fuel expense ASSUMING these factors:
Fuel : Petrol
Fuel Economy: 12.5 km/l (** Solely based on average fuel economy of a hatch with city and highway conditions)
So 20 working days a month + leisure travel of say 200km: (40km * 20) + 200 = 1000km
No. of litres consumed: 1000km / 12.5 km/l = 80 l
Cost of fuel: 80l * Rs102 (Fuel price at the time of writing) = Rs. 8160 per month
They mentioned that they spend 17k a month on travel alone. May be buying an EV will help to reduce this figure and better the travel experience.
Voice is low in this video
I'm a 28 year old govt employee.
Who asked you?
Mera nazar anshuman ke per khujaane se nahi hatri
@anshuman- You need to learn from this guy buddy
Its like interview not fixing finances
1.02 L per annum luxury car maintenance
You are currently acting like ameero ka Robinhood… advising rich people how to handle their richness …. Definitely not going with your series name “ plan your finances” rich can do away with that