Can He Become Financially Independent With ₹3 Lakhs Expenses?
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- Опубліковано 1 чер 2024
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Subscribe:
The 1% Club:
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Linkedin: / mycompany
Sharan Hegde:
Instagram: / financewithsharan
LinkedIn: / sharanhegde95
Twitter: / financewsharan
Abhishek Singh:
Instagram: / uncoverwithabhishek
LinkedIn: / abhishek-singh-68a8a617
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Listen to us on Spotify:
podcasters.spotify.com/pod/sh...
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Welcome to the first episode of The 1% Unfiltered - where we answer unfiltered finance questions of your life.
In today’s episode we have Mr. Abhishek Singh of One Insurance - with 21 years of experience in insurance industry and a personal finance expert as well.
Watch the full video and let me know your thoughts in the comment section below.
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Timestamp:
[0:00] : Highlight
[0:45] : Introduction
[1:15] : What is the right amount needed for retirement?
[10:18] : What happens to Term Insurance if I start smoking?
[15:28] : How much money will I need if I want to retire by 40?
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Sharan Hegde is a personal finance expert who has been featured in Forbes, Economic Times, Mint, Times of India and many more. He is the Founder of The 1% Club, India's biggest finance community which helps people achieve financial independence.
#financewithsharan #finance #sharanhegde
The 5 lakh per month guy is the one who asks on quora if "earning 60-70lpa is less in Bangalore???" 😏😏😏🤣🤣
Bro 😅i remember 🤣
@@beyondsaqi9134 😂😂🤣🤣
Yess initially when they heard he wanted to retire soon without having kids they were laughing.. later they were like mf why you even here😂
@@Joe-zj7ux Frrrrr!!!💯😂
😂😂😂
I believe investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market. 35% of my $270,000 portfolio consists of collapsing stocks that were previously respected, and I don't know where to go from here.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
It's true that many people underestimate the importance of advisers until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to $850k regardless of inflation.
@@JuanCarlos_J How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
@@ClaudiaEscribano630
Rebecca Charlotte Craig is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $189k now to put in the market.
Although stocks are now rather volatile, you should be okay if you perform the proper calculations. There have been stories of people making over $70,000 in a matter of weeks or months, according to Bloomberg and other finance media, so if you know where to look, I believe there are many wealth transfers during this recession.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that’s the most effective way to enter the business at the moment.
I won't pretend to know everything, though. Her name is Sharon Ann Meny but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
Thanks for clearing that up, I curiously searched for Amber Angelyn O'malley on the internet and thankfully, I came across her my goal is to retire in 5years time.
Please make some series for people where normal people can save some money and plan their future.This series is like playing with emotions of people who are watching this in order to learn some financial management.
Shallow analysis. Financial analysis is much complez. Kids education, House cost, Kids marriage, This will affect your savings at a certain age. Unless one saves 2 to 3 times of monthly expenses, it is difficult to achieve early retirement
Right cus you def know more than a proper financial analyst right. Who also happens to have a MBA degree
Poor want to retire and rich want to work till 80 !
Facxxx❤❤
Awesome Sharan. I am seeing you as a top financial mentors of India. We need people like you to make India a Developed country.
God save you. Hope you become rich atleast in your next life 😂😂😂
Useful information Sharan. Please make this a weekly occurrence 🎉
Just found your channel. It's great! 👌🏽
Very informative Sharan! Thank you so much for this video. Continue doing your great work. Kudos to you and your team 🎉🙌🏻
Fantastic, that's what we needed,
Coming to stock and option I will always be grateful and thankful to Mr Ronal’ for giving me the knowledge and helping me recover my loss from the market 💯
he’s mostly on Telegrams, using the user.
@R o n a l f x 2.
Ok bot
Sir Ronal’ has offered profits to investors who wish to recover losses including myself and it’s a great honor to be part of them 🥳
Thank you Ronal’ for your TA 💯. I’m excited how my trading is going so far. I’m on $1m challenge right now. Already earning $35k weekly
Love this! This was fun! 🔥❤️
Super Session Abhishek sir 🔥👏💯
Please make it as authentic and helpful as Dave Ramsey. We were listening to him even though we didnt care about his roth IRA, 401k, student debt kind of explainations which weren't related to us..
may this also be seen outside India pretty soon. All the best ❤
Finally someone did it, thanks Sharan. Hoping to watch more of these examples!!
Getting the Dave Ramsey Vibes
I literally came to the comments to find this! Dave Ramsey with hair
I’m honoured
So True😂
Pay off your debt now!
@@hardmorabia9654 😂😂😂😂
this is what we needed!
More to come
Wow your English is good. Even i am working in Singapore, talking English in office since there is no my native speakers. But i cant talk like you.
You are very professional in English and calculations. Thanks for your great service
Hey sharan great work, Appreciated. ☺️
If possible make up a video on explaining how to calculate all this numbers including coast fire. That would be really helpful.
Keep posting.😇
Great content Sharan... Expecting more content like these....
Please tell something for the people who have savings of around 3-4 lakhs till today and earns around 2 lakhs per month combined 😂😂 1 cr itself is a high number.😅
No hack just keep working till you die
Looks like the story of many households with both the couple working in their 30s. Responsibilities and loans are the reasons they can’t get ahead.
@@anirbanchattoraj6870 true but for me the case is bit different… I don’t pay emi till now but still not able to plan for a house in bangalore or pune looking at the cost.
Kon investment kar k profit mila batau
Love these live real-life cases. Keep'em coming...
Good Initiative
I've noticed how patterns in financial markets tend to repeat themselves over time. Artur Grandi's book offers valuable insights into keeping investments steady and explores potential investment opportunities, including the crypto market.
Really eye opener sharan. I love the kind of reality people should know.
Need more episodes like this. Very interesting.
Love this of content . May u release some more videos on this topic ❤
Eagerly looking forward to more episodes. Also, how do we post our queries to the show?
10:10 he has rightly mentioned, maximum possible cover. No matter how many policies I take for how much coverage i subscribe to in each policy, at the time of settlement, i will only receive the maximum possible coverage proportionately from all the policies consolidated right?
Thanks
Dave Ramsey from Mesho 😅 (PS. love this content, please make more of these videos as these are more relevant to India and our culture)
Pretty fun to watch. Kudos to both of you.
Thank you so much 😊
More of this please
Brother made very useful video, and touched point is disclosed or Not, health insurance will not be covered, with this people can save some bugs by hiding it. Loved It, Keep Help Us.. 😊
03:01 Even Sharan got surprised when he said 3 lakhs is the expenses excluding loans🤣🤣🤣🤣🤣🤣
😅
They must be throwing home party in the weekend inviting friends which easily contributes to atleast additional 25k expense and also must have enrolled into expensive clubs in which you need to keep paying maintenance fees.. Also must be buying expensive gadgets and branded bags and stuff.. But surprising is they don't even have kids yet . Once they have the kid I don't know how much the expenses is going to shoot up
@@gamezy4674 Truly reckless spendings.
Do you think such numbers are real ?
Very informative and instructional video 👍
We want more such type of videos
Even this guy with out any financial math earns upto 3l per month and here I am stuck at 40k per month.
Bro if you’re 40k right now, don’t do financial planning lol. You need to invest in yourself right now, learn more, travel more, explore more so that you’re able to become capable enough to actually start planning your finances. Ye 5-10k bachake koi bhala nahi hoga
Awesome want more such videos for sure
This is a great series..getting David Ramsey vibes 😂
It Would be helpfull if you could show the calculations in an excel as people tell you the details..so that others can follow!
As we witness the current economic landscape, it's becoming increasingly clear that we're entering a recession. These times can pose significant financial challenges.
Indeed, Recessions have a way of affecting people's financial stability and investment portfolios in profound ways.
Speaking of financial stability, l've had the privilege of working closely with Eric Paul Elmer, a highly experienced financial advisor. His expertise has been pivotal in helping me navigate the complexities of economic downturns.
That's intriguing, l've been on the lookout for a financial advisor who can provide sound guidance during these uncertain times. Could you elaborate on how Eric Paul Elmer has assisted you?
Certainly, Eric Paul Elmer provided me with tailored financial strategies that not only protected my investments but also helped optimize them during periods of economic turbulence. His insights were truly invaluable.
Do a Google search and you will get his details and more information on the protocols
That was fun
Good info. Only thing is Tiago's analysis should have been a bit deeper.
His income won't stay the same y-o-y
His expenses increase with marriage/ kids of he plans to have
Both key factors were not considered.
But I love this show for the amazing way I can connect to my personal goals and plan ahead.
Great sir need more episodes ❤
I don’t live in India, but I found this video really interesting. Even though the advice can’t help me too much, I found this video enjoyable. It was easy to understand the voices even with the accents, which is very good. Even though I am not very familiar with India, the Indian economy, and the Indian currency. I was able to grasp the idea of these things. Overall I really liked the video and am going to try to watch some more soon.
P.S
Make sure to continue this series as it is very informative and interesting!😊
Please more of these type of videos and also make a video on how we can calculate our own fire number like you did for the people in the video . 😃👍
Great show.
"The Ramsay Show Highlights"
Exactly the similar talks
Trust me sharan this unfiltered conversation series is an “Extraordinary Initiative” ❤
It's not an initiative , it's copied , initiative must be unique
@@abhishekfarande9672 from where
Liked this new way of making podcasts ! 🙂
More content like this please ty
With first caller,that vested ESOP worth 2cr currently should have been discussed in a bit detail. Like- strike price,gross profit,taxes and then net cash in hand. Would have given a clearer picture then.
Sharan sir how to invest carefully in equity and debt fund indexation
With age 37...Term insurance for 4.8 will not only 6k a month ...it would be much more then that
Dave Ramsey style show. Nice
*Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $12,000 and got my payout of m $270,500 every months,God bless Chloe Linda Henderson🇺🇸🇺🇸🇺🇸..*
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Chloe Linda Henderson.
She's a licensed broker in the states 🇺🇸
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
If smoking related issue are not covered under insurance then why we pay more premium for disclosing it
Nice to se dave ramsey show of Indian version!!
Great initiative sharan🙌
Hi Sharan.. Thank you for the insightful information always.
I learned a lot as a homemaker. Though I used to work initially now it is a huge gap... So I take care of my home finance😊
I wanted to have clarity on a few things:
1. How are the Short term, Medium and Long term goals bifurcated? ( No. of years)
2. What are the safe instruments for investment with regard to inflation apart from FDs and PPF ?
3. How much can I estimate for my kids marriage expenses adjusted to inflation in 7-10 years span.
4. For retirement fund its not only the household expenses adjusted to inflation there maybe health issues which may go over the coverage u have today ( medical inflation ) how can we anticipate and add that also to the retirement fund. Or should we keep that separately?
Me watching his counting with 2k bank balance 🙂👍
Awesome u r words
it was fun😂
Thank you
where can i get yhe coast fire calculator? @sharan
need more such videos please 😃
Yesss more to come
@@financewithsharan Gracious ❤
I loved it I might need your help man
Nothing will happen watching these until you get there
Where can I get the calculater which u r using
Where we should post our questions?
A=P(1+r/n)^t is the solution for every question
hi sharan im quite interested in knowing the basic economics. write know i am in to a government job. I want to have the basic and advance knowledge about this stuff. suggest me where to start to ace the subject briefly.
any courses, where to find etc any thing to suggest
Sarath has never achieved financially independence himself. He was making videos for a living. He runs a company now. He shouldn't preach this.
what if someone never smoked but got lung or oral cancer will it be covered in insurance?(talking about passive smoking)
Shran when you suggested Tiago that he’ll save up around 60k per month
But you forgot he has a daughter and her education cost will add up, now how do you suggest ??
If I change my address after taking the policy from a small rown to metropolitan city, my premium amount has increased in the yealth insurance. But you are saying that we don't need to inform, is it not going yo be a problem later?
Retiring early should not be a goal , being financially independent should be the goal
we want more such videos!! Full dave Ramsey vibes.
Very Good
Is there a way we can contact a financial advisor
Exactly this kind of session I was looking for. How I can ask join and ask my query ?
I want to know same.. how can I join
The skip50 coupon code is not working for the personal finance masterclass. :/
He is just using an inflation adjusted step up sip calculator and a fire calculator
Few suggestions for the hosts:
1. 12% per year for life are not easily achievable. If you think the inflation is 7% it’s hard to make 12% per year in the long term.
2. If you celebrate the fact that car loan will be over and increase the total amount of money available to be saved, are you assuming he will never buy another car in his life?
3. It wasn’t clear to me why the coat fire age needs to be reached 10 years before retirement?
Hi anna i am 17 i startwd seeing ur vdos frm the corona lockdown period and i get rs 2500 and i put tht full amnt in sip like i hv diversived the risk like my only dream is to have a session with u wekl my dad does not support ur vdos but yeah i learnt tht i promised tht i will retire at 42 or 45 and have a better lifestyle thn my dad anna i am frm Bangalore anna
Any book suggestions to study fundamental investing?
Damn! People are making so much money in India.
Please provide subtitles to this long video.
Ask the first caller to have kids , enjoy the life with parents
Superb
When he said he spends 5 lakhs on his kid's school fee o fent tht my girlfriend's father spents 5 lakhs only on her tution fees 💀
please make more videos like this 🎉❤
I received some amount from my parents..i want to invest but i dont trust the mutual fund madness going on. Where do i invest?
Sharan can you make a video how many credit cards do u have if any , love to see you use or not?
You should start a show like Dave Ramsey.
I truly love this sharan... Need more of this❤
I have one question that if one has taken hookah twice or thrice a year and he dont smoke cigarettes at all. At the time of policy, he has taken a non smoker policy term plan. Then is there be any problem while taking the claim
How can I also asked this question to sharan as I am also a part of the 1 % club I do have many questions that I need guidance as I am just 19 years old
Is it applicable for passive smoker.
How you get this calculator?
These days many people have started to travel and maybe this person is keeping a budget every month for a possible trip whether domestic or abroad and that ambitious goal may have made him say he needed 3 lakhs per month.
Finance with sharan, I didn’t watch this video, but from title what I can say is, a person spending 3 lakhs per month is living his life. Others, save so that others can live their life. 😂😂😂😂