ALL Expenses Covered By Passive Income? (Expense Management for FIRE)
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- Опубліковано 27 чер 2024
- In this insightful interview with Mumbaikar Feroz Dsilva, you'll discover the secrets behind achieving financial freedom through passive income and his highly effective expense management strategies. Learn how Feroz transformed his career and investment strategies to generate enough passive income to cover all his expenses.
Feroz's Book on Personal Finance: www.girlbeonfire.com/
Wint Wealth: fd.wintwealth.com
Intro (0:00)
Career, TCS & Salary (0:18)
Beginning of Financial Independence Journey (1:04)
Expense Management (1:50)
Investment Planning (4:06)
Passive Income from Real Estate (6:01)
Why Real Estate & Fixed Income? (7:25)
Current Expenses & Passive Income (10:14)
Portfolio Split (11:18)
Advice for Financial Independence (12:21) - Розваги
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based on reverse calculation, i decoded his portfolio - his total portfolio value is Rs 10 crore. let me know if i am correct
What is the difference between your FD with wint and normal fd through online banking
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He is so genuine in his advice.... I'm flat... "low risk low reward, if low reward satisfies ur requirement then y go for high risk" - Awesome 😊
@riteshsinghrathod Precisely. It obviously does not make it a glamorous portfolio. There is no heroism without equity as per what most people believe. I have described the high risk high reward vs low reward low risk approach in my book. Peace of mind and sound sleep are more important.
Please note that he is in his late 50s. So he needs to keep low risk profile
@@michaeldsilva watch ua-cam.com/video/kJQcDYB5hxQ/v-deo.htmlsi=JnV_umt6y7LO7Sfq
But he too started his investment journey in his 20s right. So you think at that time he had a high risk profile and now low risk? @@nareshhanji8083
Guys, I usually don't comment. But let me tell you, this content is really valuable. You may not reach a million people. But those who are actually about finance. This is gold.
Brother what is gold in this content ?
Building asset when earning 1cr per annum do you think it's a big challenge?
Mishra ji today is our lucky day, as we got opportunity to read your comment 😂
@@RahulSharma-se5nq yes , it is a big challenge because when our earning increases then our expenses increases too , if you do not check your expenses then 1 crore can be a small amount , look at the inflation of Gurgaon and Mumbai , 1 crore earning is not enough if you want to have home/ flat in posh areas.
It's not about earning its about how you manage your aspiration and expenses .
@@sourabhGR1 brother management of expenses and aspiration is part of financial plan where other parts are investment , taxation etc. Now just like a financial plan is going to be different for a person earning 2L per month to a person earning 30k per month similarly management of expense and aspiration will be different for different person based on there earning.
For eg someone earning 1 cr a year if tells he creates the passive income by investing 60% of income in multiple assets like buying few franchise , commercial shops etc it will be of no use to someone earning in lakh as those asset that person will never able to invest in .
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
I stopped trying to predict market outcomes based on chart studying after 5 years of uncertainty. Not having a mentor caused me 5 years of pain. I learned to follow the market's direction and keep it simple with discipline.
The advisor that guides me is Sharon Ann Meny, most likely the internet is where to find her basic info, just search her name. She's established.
@@hasede-lg9hj Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
He is perfect example of reliastic view point. No drama no random suggestion . To the point discussion
"Equity ho ya phir insaan subko uppar jana hi hai"......best line of this video😃
"Become rich before you become a philosopher"
-SRK
This was gold content. The guest is so concise and had clear strategy in place.
The fact that an ordinary ppl can have so many valuable lessons is amazing.
In finance, behavior matters more than knowledge. This is the reason why a lot of educated people struggle with money, as many of them are inherently bad at managing their emotions. Despite not having great knowledge about each individual asset class, this person was able to become financially indepent as he was able to stick to his discipline and learnt how to 'behave'! Clearly, he has learnt to be happy with what he has and rest all is bonus!
Happy to see someone with a different viewpoint than the masses. He is right in many aspects.
Are you talking about rental yield?
@soumendash3911 Mostly about the fact that people chase high returns but ignores the high risk associated with it. But, as long as you have sufficient capital and you beat inflation and your returns on investment takes care of your expenses, then you don't need to do all the high-risk investments to get high returns.
@@wanderingsoul7348 This is perfect summarization of my approach. Thanks...could not have done it better. Maybe you should write the foreword for my book.
Agree with you 💯 % wanderlustman!!
Nice he has liquid asset of above 3cr and fixed asset of 1.7 Crore , didn't mention the gold. He has very high networth even though he is a salaried person....Very inspiring.
I feel that's quite low. Any regular apartment in Delhi/Mumbai is 1.5-2cr easily. Apart from that given IT salaries these days, 5cr net worth is mediocre to say the least.
I have around 3.3cr networth at 32M and I feel it's quite low considering this person's career stage.
@@cero1296I think you should not consider the place you live as part of net worth. A withdrawal rate of 1.5% annually will make sure you never run out of corpus (inflation adjusted with distribution of 50-50 in conservative and stock mkt invested). So for 3.3cr, the withdrawal would be 5lpa(approx 40k per month as of today, this number is again inflation adjusted). This income would be decent imho. I wouldn’t say you will be able to splurge, but you can live. Read about swps. There are way many models on swps, you can tune it accordingly
@@cero1296Wow! you are saying it is a low amount😂😂
@@cero1296I hope you are not accounting inherited home as part of net worth. Please only take into consideration the amount you have actually made yourself. 3 cr will start to make sense in that case.
@@MuditSehgal I am not accounting inheritance. Only self made net worth not locked in real estate. Accounting inheritance it may be well over 10cr but I feel middle class to be honest.
Wow what a Gentleman, Sir learn something from you and I will implement in my life, thank you for inspiring 🙏
@dnyaneshwardage2732 Thanks for your appreciation and happy to know one more person is inspired. I have detailed my approach in my book Girl be on F.I.R.E.
He is super cool, composed and self-aware about his lifestyle. His approach towards money is wonderful, great to learn from him. Thanks Wint Wealth team for bring this to us.
Couldn't agree more!
Yes
@@WintWealthYTi m 33, self bought 2 bhk , esopp , stock, pf, mutual fund, ancestrals too. Do i qualify 😂
@@gurpreetkakkar I think if you get passive income from your investment which is enough to get early retirement then you are qualified
@@seekertruth72 passive income isn't the focus right now. Growing portfolio is , so putting money rather than withdrawing. Also if i withdraw from Esopp that's 30% taxed, pf isn't also allowed right. From stocks and mutual fund, its like break even, interest withdrawal and expenses would be same.
It is truly remarkable to witness the exceptional clarity in Feroz sir's thought process. His ability to accumulate an impressive corpus of approximately 5 crores, excluding his real estate assets, serves as an inspiring example for others.
Sir ..a grand salute
So honest, deep and wise interpretation of wealth management.
The last statement truly deserved applause. 👏
Now this genuine and relatable story ! Thanks for putting out videos like this with real relatable person sharing their life experiences. There is NO point hearing about a couple earning 2-3+ Cr in their 40s and then being humble about their lavish lifestyle !!
He is very humble, gentle and honest. Wish him the very best.
Of all the interviews till now , this seems very relatable and sensible!! 😂
Yeah almost all of us are handling 1Cr packages. Very relatable :)
@@kartik180rajesh1bro you handle one cr package what do you do can you help me
@@kartik180rajesh1😂
@@kartik180rajesh1 if you are looking someone managing his finance at 25K monthly salary !! You better unsubscribe this channel and listen to someone who got retired now ! Ppl now a days easily make 1L salary !!
This man is very intelligent and real... Thankyou please put people like him please
This guy is for REAL and I have had the opportunity to sit with him. A very knowledgable and analytical driven person. Awesome session and hopefully someday I land in phase where I dont have to track money!
@jamaswin88 Good to see your comment here. Next time we meet, now we have more topics to discuss.
I loved this interview. He us very humble and knows alot. No flashy attitude. Very relatable to a middle class person.
Im 18, all these interviews are a part of my financial education. Keep it up! Im sure me and the channel are gonna grow together
Good luck, you will be a millionaire one day. Felt good after reading your comment.
yea its quite hard to find anyone talking about it so upfront with the numbers on the table im 18 aswell and this channel is amazing
All viewers eyes blinking with stars of dream.....
Good video 👍
Simple Word spoken from his Mouth, Zero Attitude or Ego, Speaking with a lot of experience...
Respect for you Sir!
I think this one is really valuable episode and very relatable to many normal salaried persons who are in for a long game.
Excellent video , especially the final one " Money is not important, that's true, but make sure you have lot of it, before you actually make that statement"
Such beautiful advice towards the end, guy is truly realized!
What clarity of thought. The guy is just brilliant 👌
Good one. Please share more such interview. The expenses classification was a good thought provoking points.
Brother hats off to your channel ❤..i am a middle class guy..by started seeing your videos I got motivated and started to make a business plan based on development agriculture land..I have resigned my job and i trying as much as hard to stick with my plan..I have explained my business plan how much investment required and what wil be the return will be generated and all..around to most of client they said they plan is good and they are okay but initially investment is required...hope one fine day I wil be successful..and I wish once I get successful my plan is help to most of our middle class boys to be successful..
The amount of clarity he is having it's no surprise that he is financially independent.
@jhapradeep My responses are based on my personal journey and learnings towards financial freedom. I have detailed the approach in my book. The link is in the video description.
You could invest in stocks, start a side business, or focus on advancing your career. It's important to set goals and make a plan. Remember, wealth can mean different things to different people,One thing i can say that helped me in life to reach my first million was starting early, i got curious and informed i became open to passive income, investments in equities , etfs and the likes. also sought help to handle my portfolio which was my foundation. i'm ever grateful to Emily Lois Parker my FA.
That’s some good values. sounds like you got something going for you
I looked up Emily Lois Parker on the internet out of curiosity; she has a strong résumé
I started investing when I was 37, mostly through sweat equity. I just turned 42 and this last month was the first time that my passive income broke $100k for the month. This is solid advice! DO IT!
Thanks for sharing, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Thanks wint. This series on Financial Freedom is really valuable.
Whatever he is doing, he knows it really well
I like that clarity
The best yet!! So sorted .. just simple!
Good financial strategy. Especially, bifurcating expenses and income .
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits, such as regularly setting aside money for sound investments....
I invested with Ricky, i make about a 30,000USD every month.
Same here, a Transformation of £4000 to £15,400 in just 2 weeks, he's really the best
I heard a lot of investing with Mr Ricky wen and how good he is, please how safe are the profit?
I trade with him, The profit are secured and over a 100% return on investment directly sent to your wallet.
After watching so many UA-cam tutorial videos on trading, I was still making losses until Mr. Ricky wen started managing my investment. Now I make $6,800 weekly. God bless Mr. Ricky wen as he has a blessing to my family.
He has very clear thoughts, knows future challenges and he is prepared to handle it.
This guy is gold. He was honest. Not too complicated with the idea of making wealth.
Wealth is a by product. I never set out to make a huge money. When I started, it was to fund small regular expenses. In Chapter 6: How Much to Save of my book, I have highlighted the flaws of the websites calculating a retirement figure and why one should avoid such calculations. The link to the website is in the description of the video.
The 1% of rich people think of how to invest their money to increase their wealth during the recession. While 99% of struggling hard-luck people think of how to survive without food and daily necessities in the recession and the coming hyperinflation
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
I don't think I need a finance advisor. I can manage my own money and investments. I don't want to pay someone else to tell me what to do with my hard-earned cash.
That's a risky attitude, My friend. You might be missing out on some valuable opportunities and strategies that a finance advisor can offer. A finance advisor can help you plan for your short-term and long-term goals, optimize your tax situation, diversify your portfolio, and avoid costly mistakes.
I agree with You. A finance advisor can also provide you with objective and unbiased advice, especially when you are facing emotional or stressful situations. They can help you stay on track and avoid making impulsive decisions that can harm your financial future.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself. But then I realized that I was spending too much time and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and gave me peace of mind.
Felt like I’m only speaking, so relatable.
Love wint as always. Want to start investing in it soon
Incredible discussion + Learning!!
LOVED this man. So genuine.
Sir calls it “carrier” and still could make it big 👏👏
A valuable advise from an amazing guy. He is sorted in his thought about the financial stability. I am also a kind of guy who would like to invest a lot and would love to retire at 50's. I would love to try FDs.
content of this channel is GEM
Loving these series. Keep them coming team.
Money is security ,freedom and is the key of every products and services in planet earth .
one of best episode on financial planning
These interviews are really good, great going Wint Wealth team
Wint wealth. I just love the interviews which you have here. The content is gem..
he has a clarity that is so much inspiring. it would be a great thing to meet him in person.
Financial education is key for financial freedom.I am a former nurse trained in some of the most prestigious hospital in UK ,I started investing in London's real estate and Surrey and also in vanguard and scottish mortgage funds.Financial freedom retire early is not difficult to achieve.My daughter is at university as well and my assets are paying for it.
thank you for the video. it was brilliant and speaker was amazing to share such a great information.
Great guy! Has good understanding of what he needs to live well. Rather than chasing returns balance it well.
Iam looking my self in him. Iam at 37 now but going to build same portfolio in all aspects. Its gold concept ✨️ 💛 😍
@user-dv7yi6qv2l Appreciate your comment. I would propose to not look at portfolio constituents but at the process of covering expenses. The portfolio is a by product. Refer my book for the detailed approach.
This is awesomely useful and inspiring. Thank you so much for speaking with such transparency and simplicity !
Good Advise ..'' LOW RISK LOW REWARDS '' !!
Very gud advice it's actually required for middle class
He is the One side of Reality ❤
Lovely videos, keep bringing people who have retired early by working in corporates
Great content....
Like his clarity of thought
I think this person is gem. He shared wonderful advise.
Thanks. Appreciate your view.
Quite informative. Only one challenge I foresee, expenses will grow over passage of time due to inflation… Investment instruments are largely of fixed income nature and thus will not have capital appreciation which will eventually bring down the value of passive income.
@amarkumar-pm2iv Agree with your viewpoint. Two ways to address it. 1-keep control on standard of living and 2- I still continue working and earning. Having FI has given me freedom to choose my job option. My book sales have also started contributing royalties. These additional earning adds to the income.
Excellent sir,
Every word came from his heart
Thank you very much sir for valuable advices
@raghavenderraob5343 Thanks for your comment. I was covering steps I took towards FI. I have detailed the approach in my book "Girl be on fire".
1) Open a bank account and move all your interest and divident to that account.
2) Categorise your expenses
3) start now
4) spend and enjoy from your passive income.
We need second episode with him again.
@moneyandwealthtv496 Thanks for your comments. I am always happy to share the small learnings I have. In the meantime feel free to connect with me with any queries. The email id is on the website of my book.
Great sir for telling how to be financially independent showing your investments and how you manage it effectively
I have also detailed out the methodology in my book. The link is in video description.
Great video! And that last line was said by Shah Rukh Khan. ❤️
I have never seen such a setup wow different
Very nice balanced advise for a category of people
Very nice video with valuable knowledge for how to manage money and retirement planning.
Guest shared his investment strategy genuinely that helps us for better and real life clarity.
Thank You Very Much for making this video, this really helps to us for better life.
Around 1.44 crore in fixed deposit (60K ie. 7.2 lakh a year assume 6% return then amount in fixed deposit 1.44 crore)
1.44 crore is 35% of his total investment.
So the total investment is around 4.11 crore
4.11 crore + 1.7 crore = 5.8 crore approximately 6 crore.
So we need 6 crore today to become financial independent.
😂😂
you need to factor in that 5.8 Cr gives him 1.2+ L per month for his living expenses. if some body can get this in less corpus with FD + MF then that becomes retirement income
Great content!!!!!
Please create playlist of passive income…it’s damn interesting and it give ease to viewers to view some specific videos
Informative and a reminder to reach ones goals
Thank that lady for this interview 👍👏
Its called experience 😊
Insaan ho ho equity ho upar jaana he !
Kab jayega pata nahi?
Couldn't have said it better
I love this channel man.
Getting into Investing to create a passive income should be every wise man priority...i invested with a broker and made my first million from having a diversified portfolio that spread across stocks, grade bonds, coins and etfs. my broker Emily Lois Parker, handles all my investments and ensures I stay above the market.
That's very amazing, you must have made a sizable sum of money.
I did research Emily Lois Parker online, and her resume is rather impressive.
Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.
found her webpage by looking up her name online.... Her resume is quite outstanding, I'll be writing a mail to her shortly.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
proud to be a baniya(Vaishya) born outside india (London,UK).
Right attitude towards money...low risk low reward idea is good if u r not greedy
The phrase highlighted in my book is "Low Reward = Low Risk". This is described in Chapter 5: Saving vs Investing in my book. The link is in video description.
Very prudent financial management. Timely investments in good assets.
@vishaalbhatnagar3924 Thanks for your comment. Post facto it seems that way. It was not so when I started but built it over time. I have detailed my approach in my book "girl be on fire"
13:30 statement is absolute truth.
When he calculates the rental property yield he is not calculating with Property appreciation in to account. example 8-> 60L is 7.5X increase lets assume 15 years on property that alone is 14 CAGR.. On top of it its 3% yield like stock growth and divident yield.. I would ask the person to stay with realestate.. as he rightly mentioned its a diversification.
Nice one. Thank you...
It was a simple but wonderful idea to consider interest and divident income as the money to spend towards discretionary expenses. Helps to lower your greed and also build a discipline for investing and leaving the capital untouched!
@srinivasn415 The core idea is to categorize expenses and then allocate investment to align with the attributes of each category. Also, I had a cardinal rule to not liquidate any of my investments... hence leaving the capital untouched.
I like the concept of low risk low reward....
@timeisgod1667 True... the idea is to look for low reward so one can play with low risk. I have detailed this approach in my book.
Very neat clean stable portfolio
Gold level content by Wint Wealth
This will connect with a lot of listeners i believe and more actionable points for the young minds striving for financial stability..
I have also detailed out the methodology in my book. The link is in video description.
So nice 👍🙏
doing some basic maths, he is at around 6 crores (including real estate).
You are welcome.
Thanks for creating great content.
Loved his expense bucketing strategy.
3% yield on rental is just the cash flow just like dividends on stocks. You also need to account for annual growth in price to compare with 12% mutual fund return.
@SunalMittal Agree with your view. The core topic was around cash flow to fund expenses. In addition, I have experienced that every asset class has its good and bad period. Hence, prefer to be diversified across assets and not concentrate on the asset giving highest return.
@@michaeldsilva I see. If we are just looking at cash flow perspective, then we should just compare dividends from stocks and the capital gains from the value increase. Because that 12% average might be -20% in a year and +32% in the next year. It’s not a real cash flow per se.
We need content like this which is very useful he clearly determine what actually he is getting in passive income in detail rather than some unusual percentage numbers by other folks
Absolutely..I remember in one of the interview, the person had said that I will not tell you the exact number but I can buy 12 maruti ciaz
@@CA_SmitKalarias most of them exaggerate, but when it comes to real numbers of how they play in money management they hide there tactics
I left when he say there is always a better way, we should be always looking for better returns within constraint of liquidity required
Very informative.
Good insights. Thank you wintwealth
Glad you enjoyed it