If you wish to be part of the Money Matters series, please fill up this form: forms.gle/Tmbo2nUTnhn9vjpG7 Money Matters is a series where I have conversations with normal people such as you and I, on your personal finance issues. It is important to note that I am NOT a financial expert, I am NOT SEBI registered, and I am NOT qualified to give financial advice. Everything that I say in these videos is purely through my own experiences. - So these videos do not offer any stock tips, or specific mutual fund recommendations or get-rich-quick schemes. - I am not selling any product or service through these videos. - None of the brands that I mention in these videos have paid me to mention them, unless I explicitly say so (and I will say if the video is sponsored). This also means that my advice may not always be the right advice. So incase I make a mistake, the best way to correct me will be to share your point of view in the comments, so that everyone can benefit from it. I am not perfect, nor claiming to be either and would love to learn and grow. The idea is simply to help people with their finance journey and through their story try to help others who may have a similar story. If you wish to be part of this series, please fill up this form forms.gle/uj9JPUBp8Wo9nZQi7 My Money Apps: Indian Stock Investing (Zerodha): bit.ly/3iYKROh Mutual Fund Investing (Coin by Zerodha) (You will need to create a Zerodha account for it first. Coin is free): bit.ly/3iYKROh US Stock Investing + Investment Tracking (INDMoney): bit.ly/3tT5moR Portfolio Investing (Smallcase): bit.ly/3u0is0I Corporate Bonds (Wint Wealth): bit.ly/3sbUI8c How to pick the right insurance (Ditto): bit.ly/3xFh7OU The above links are for products that I personally use for my own investing. If you create an account on any of these using the above links, I stand to make a referral income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L. DO NOT assume that these are the best products in the industry. Please do your research and let me know if you have any questions. My bestselling books: 'Make EPIC Money' here: amzn.to/3WHJ43F ‘Get EPIC Shit Done’: amzn.to/4fK1IR5 ‘Do Epic Shit’: amzn.to/4fK9uuv My gear for shooting this video: 🎥 Sony a7III camera: bit.ly/3M42wAV 🎬 Sony FE 24-70 f2.8 Lens: bit.ly/3KCCiF0 🎙 Shure SM7B Microphone: bit.ly/3O1NAVA 🔆 Fill Light 60W: bit.ly/37aJolP 💡 Key Light 150W: bit.ly/3O9nyjs 📽 Benro IT15 Tripod for Sony a7III camera: bit.ly/3O4PvJ1 The above links are on Amazon. If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L.
I am earning 10000 and had taken 75000 loan there is emi is 3000 per month Its had become in my fault. I am alone to run my family so I can not save money . Please guide me
Imagine kid going back home with finance knowlege ask his/her parent, please send me to local schook and invest remaining amount in SIP, after 20 years my monthly payout will be equal to salary of iitian😂
To follow it is not easy looking at his history of taking those bad loans for whatever reason, I have my friends and others that I have seen they are always in trouble for liquid cash and will take bad loans even after earning a decent payout
@@sunilkumar-iq2oq Totally agree. Making plan on paper is one thing but implement the same thing in reality requires high level discipline. Looking at the scenario it feels like his decision making is sort of Impulsive, which made the things difficult for him. I am not trying to judge, but this is what i feel.
I was a menace when i thought how my father is not that smart, when it comes to investments and finance, now when i have come across all these videos and comments section, i feel he is amazing at Finance and investments, he made a house of his own with liquid money and NO HOUSE LOAN and stuff, he bought gold only when he had a surplus amount of money, again NO GOLD LOAN. He has absolutely no loans to be paid but yes he has a debt in his business, which again he doesn’t have to pay taxes for. He doesn’t have a lump some amount of money in his bank account. But m glad he has a NO LOAN policy. Wonderful of you Dad. You are not the smartest in the room but you are a genius when it comes to Finance and expenditure. Proud of you. Thank you.
blushing smile on the face of the person reveals he's been making mistakes.. Appreciate the honesty, appreciate supporting parents... pray for all ur debts to be cleared..
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@ElijahOliver-t9u The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
"Ankur, your wisdom has transformed my life! After watching your videos, reading your books, and diligently applying the Power of 72 principle, I've achieved what seemed impossible. From nothing to 25 Lakhs in just 2 years, all thanks to your invaluable insights. You've proven that true wealth isn't just about money, but the knowledge and mindset to make it grow. Forever grateful!"
The birth of his children served as a catalyst for him to initiate a more structured financial plan, signaling a positive shift towards considering the future. Despite initial apprehension about impending fatherhood, your encouragement provided him with hope and reassurance😊. It's understandable that as we begin to earn, we also seek moments to enjoy life.
Most people miss it but the secret to living and retiring comfortably and without debts is finding a way to make returns while your money works for you. My Dad, as i remember started saving for retirement quite late but I know he was making more than 10k returns from his investments monthly and it was completely passive.
the problem is that most don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
Tax planning is also crucial for optimizing investment returns. If not planned well, taxes can eat into your gains and significantly affect your portfolio growth.
While that is correct the person said he has zero in bank as of now, so the logic was to pay off the small things that can be closed in full first so that the amounts going for that will stop and then the person can start aiming for bigger things to close! You don’t want to pay 1.30L for cc and still continue to pay cc, and 2 emis 🤷♀️
This is a gud one. Hands off to him being transparent. He looks really worried and stressed with the situation. Hope everything will be back on track gor him soon...
It takes a lot of heart to say all this on video. All the best to the brave man! His expressions, especially shape of his lips and eyes were talking loud about his embarrassment and what not. The moment he said, we are expecting and a baby is coming in the next month, warikoo ji ka toh game hi hilgya. Main toh dargya bhai. Jai Mata ki.
I heard this type of conversation for the first time and what an amazing solution you drafted for Vivek... Kudos Ankur...guess this is your way of giving back to society... Brilliant and Thanks
I am senior citizen who is retired . It is a delight for me to watch your videos. There is great clarity of thought and sense of purpose. I am sure many who are watching the video will take follow up actions taking stock of their financial situation and chart a new way ahead. The earlier generation did not have the advantage of technology or financial information but what helped many from financial ruin is that they did not have access to easy credit !
Thank you Sir Warikoo for your advise. I am 24, earning 1.4 Lacs a month. Having term insurance of 2 Crores, having health insurance, paying of my father's home loan, Paying of my education loan (Slowly for the tax benefit & lower interest rates), the rest goes to my SIPs. All because of you, I have been following you from last 2.5 years. Doing whatever you say because it makes a hell lot of sense.
Bhai SUV lena hai, iPhone Ultra Pro Max lena hai, Macbook Pro M3 Pro lena hai, wife ke liye diamond bikini lena hai, Apple watch lena hai, Gucci dress lena hai.........toh loan toh lena he parega reh deva.
Ankoor sir you really won my heart when vivek says he has nothing left in his account and your smiled I am really stumped with this conversation Hats off to you vivek hope you will come out of this situation very soon you are truly brave man👏👏
This was absolutely an intense one. Fabulous job Ankur for breaking this situation down. Most of us are getting stuck in the urban trap and such videos are good reminder of what not do. Felt ease after seeing the plan you made..
Not included expenses above: Marriage functions+ day to day small but regular expenses+ doctors expenses+ shopping+ personal care + baby expenses like schooling + donation+ School activities+ high fee+books+ then college+ dresses+ mandatory 5 years child doctor visits are the biggest expenses.... Note: you cant fix problems in just any excel sheets... Life is not like Algo programming... Emotions are the biggest enemy of human. And what if this couple got divorce in future??? Or might loose their jobs.!!?? Life isn't that predictable
The moment he said they are expecting a baby and the worried face he had for his financial plan brought tears in my eyes. The man of the family, might not put it into words but takes a lot of weight on his shoulders, it is a blessing that Vivek's wife is sharing the journey with him only to give him more courage and strength.
Such a great video Ankur, this guy was in intense pressure and you gave in PRACTICAL HOPE, the smile at the end shows it feels much RLEAXED now. This also teaches us something that HIGHER INCOME doesn't necessarily means a HAPPY/SORTED LIFE, at this point I can imagin having income of 3.5L and be sad but this is a real example. This money matter series not just helps that guest but also inspires and guide us as an Audience, thanks! KEEP POSTING
This is by far the most useful video I've seen on You tube @warikoo sir!! I'm currently in a similar situation. Trying to get out of it in a similar path.. But instead of cracking higher package I'm planning to move abroad and clear my loans.. I had done good investments as well in the past 3 years.. Just a month ago I realised investments are not right when having higher interest loans.. So I withdrew all the investments and trying to pay off my loans.. After watching this video I'm reassured that I'm on the right path.. This financial education should be taught to people from a very young age so that more people don't fall into the debt trap.. You are changing many people's lives with your financial knowledge.. Keep going and stay blessed sir!!
Sir Below points are my suggestions , 1) His home loan EMI Around Rs 67 k in that interest only around Rs 60k, 2) basically vivek is not staying in bangalore permanently due to his native is Vizak just sell the house with good market rate may be he will get it around 15 to 20 lakhs excess amount for that amount to use repay the existing liabilities. 3) In bangalore city around 15 to 20 k with part furnished house will get it rent ( Just look into home loan Interest part around 60k interest, instead of paying Rs 60 k interest Rs 15 to 20 k rent payment is best option and you will save 40 k every month in that ) 4) after that you are sending Rs 20 k to parents just increase that amount as your wish and inform to parent save the amount and try to invest in land( NA plots) in your native place. 5) Try to build house in your native after certain period because end of the day you will go to your native place only. 6) Vivek just think as much as practically, In your scenario you have large liabilities first thing come out from liabilities then think about savings. 7) In bangalore any time job losses is their at any movement at any reason so come out from the liabilities.
The one thing i noticed in this conversation..after paying everything he still left with more than 70+k per month and he said he didn't had single rupees in account..btw @ankur sir awesome session ...
I think there are some miscellaneous expenditures being missed in the assumptions such as shopping needs such as clothes, books, home accessories, religious needs, entertainment like movies, parties, house help, etc and this is pretty much why he has zero in his bank balance. Because of this, the assumption that he is saving 70k goes for a toss
within this 48.25 minutes, you made Mr. Vivek entire mind free from all the debt. Amazing sir, I believe this video is not only for the young man Vivek, it will help for the most of the middle classes family leads. I am really feel Mr. Vivek is very lucky that he was very young and he got a very very good suggestions and escaped from the worst trap at the early stage. Right now I am 42, and my life is also same like Vivek trap. Will try to close all my debts aeap Sir. Thanks for my friend Mr. Balaji, who shared your video which is really work for me to get away from the financial traps. Thanks a lot sir.
The approach that Ankur suggested looks to be the best. But the important thing as Ankur said in the video to the gentleman “Do not get trapped in personal loans again” is a very important thing he should keep in mind. Since sometimes emotional pressure overcomes reality. Great video.
In the beginning, I thought this was going to be a very toughest problem for Ankur Sir but you solved it with a very wonderful strategy. Good advice sir 🙏
It's tough to come out and accept that you are in a financial trouble and seek help. Glad that he did it. Hope he achieve financial freedom soon and glad that you are helping out people come out and seek help and overcome that debt trap.
इस प्रोग्राम से ये पता चला की अपनी हैसियत से जादा लोन लेना कितना खतरनाक है जो हुआ वो जाने दो. सर ने बहुत बढिया तारिकेसे बाहर निकलने का रास्ता बताया. धन्यवाद सर 🙏🙏🙏
Wow.! Fantastic Anckur.! If he really sticks to the plan then he will certainly achieve that mark.! Analysis and then give him a solid plan that's really wonderful. Fix your finance & these episodes are my favourites. ❤
Excellent effort! Lakhs of people will get clarity in life. There are a few shortcomings of such calculations. e.g. Wife's income of 94K may stop for short or long term with baby's delivery. Add- child expenses also. And all these are life events. They are inevitable and welcome! So, he may take double the amount of time to pay off all expenses loans i.e. about 36 months-3 years I will create 1 lakh emergency fund every month and pay off 1lakh credit card loan+other expensive loan every month for first 5-6 months. If wife's income not there anymore, then 50K in each...
Forgot car insurance and maintenance. I already guessed about baby, he has slowly took it at end. Definately some more debts hospital, baby functions, travelling. He could have planned house on having savings in hands for down payment and emergency fund. The over confidence of good income without savings in hand made him buy the house and end up taking multiple loans.
In this money matter series i think ankur sir is also get to know how its different in real life than 50 30 20 rule. Real world has real problem and i am sure he did not told many expenses for wife and him clothes , relative visit etc etc. Worst part is as our salary increase our expense increased 3 times.❤
In starting after seeing this all loans entry in spreadsheet. I feel very scared in starting but I feel comforted after watching whole video.Really you are remarkable warikoo sir❤❤
Most of us end up making huge mistakes in our financials, but being bold enough to ask for HELP! is the greatest thing one can do to save self and family from distress and disaster. You have greatly helped lighten the burden in just 40 to 50mins and bring about peace and hope.
Probably some of the expenses which is not considered or generally considered as a household expenses in this fashion. Typically, the following should also be considered in detail so that we can exactly know the household expenses 1. Maid Salary 2. Electricity Bill 3. Water Bill 4. Society Maintenance Fees - 5. Hospital / Clinic consultations Fees 6. Internet bill 7. Medicine cost 8. Car Servicing Fees 9. Car insurance 9. In case if two wheeler is there- Two wheeler Servicing Fees (also 2 wheeler insurance fees) 10. Shopping expenses - Could be anything from clothes, household items etc., 11. Personal grooming expenses 12. Loans foreclosure charges (if any) 13. Electrician/Plumber/Carpenter charges for any repairs or maintenance etc. 14. Annual health check up (if any) 15. diagnostic charges ( in case if any) If these expenses were also included then we could arrive at a more close figure of savings and closing the loans appropriately. We tend to notice at loans and EMI's (which are big) but from experience these small amounts which we spend has a greater effect as well..
Bhai aaj kal insaan ki kamaieee se jyada unke kharchey hogaye hai kyu ki jo bazoo wala kya karega usko dekh kar mai bhi wohi karoo to isme he insaan trap hojata hai so jiyada showoff nahi karni chahiye.... Lekin bande ko acche se samjhaya aap ne good bhai.... ❤
@warikoo - I always learn from your videos. Thanks a lot Ankur. You very well coined it i.e. "Urban Trap". Most of the folks (especially IT guys) who would like to lead a comfortable life has been part of this trap. I have one suggestion: Let's not give them a figure based on anything beyond 12% irrespective of Midcap, SmallCap, Nifty 50. Let's guide them by showing absolutely figures not more than 10-12%. They will panic when they go through negative returns for few months.... Just my suggestion.
Ankur & Vivek what a super podcast man. 1st time I watch complete podcast. True I special thanks to Vivek that we software most fall in financial trap. This podcast wake me up & gave a thinkable for the future as well. Congratulations for ur new baby and before she come to the world Vivek will debt free. That's why girls are called Laxmi & debt free fir family. This is wake up call for me. Mr. Ankur I Want to take your advice for financial planning . Is there any possibility to reach you only. Thanks man..
Why no Fin Fluencer is considering kids education expenses,upgradation of house or any major expenses comes during 30s to 50s..he is telling the guy to invest around 1.5 lck in sip..that too stepping up if required..he will start living life after his 60s..
What about the tax on the returns? If he is getting 13 Crore, it will definitely come close to 10 crore plus the expense ratio of those mutual funds. Additionally he might have to buy gold for kids, birthday function, family functions, child education etc. There are so many additional things so definitely he cannot get that much of amount. It will seem easy in theory but practically not possible. Corpus of 5C is achievable if he saves and invests well and also he works till 50 without any gaps.
Why not pay the credit card before personal loan, since credit card interest rate is 36% while PL is 12% ? Also, all investments are assuming expenses remain same for next 17/19 years. Which is not a real-world scenario. But guidelines are helpful... Thanks
A great session sir but personally i can't relate with that guy because his income is almost 7 times more than me but i am just 19 so it's harder to relate with him i want you to make sessions with people of my age and people who ages around 20-25 it will be more useful...for people like us Again ur doing a great work sir... Thanks for adding something in our lifes
You are 19 and you end up 34000 this is a fair amount of salary a 19 years guy gets here , you are doing perfectly fine Please do a SIp of 7000 until 29 year of age !! That’s it for you life nothing much to do The good part is is you are 19 years of age and getting this much . Enjoy life and enjoy your life , this time won’t come back bt make sure 7000 Should be be you SIP until your 29th birthday and then stop it if you cannot
Better enjoy your life than buying property. Buy only one house to stay and rest invest in liquidity like stocks and rest enjoy your life peacefully. Invest in education and going around places.
Earning 5.20L/month in dubai, still not able to make 10k SIP 4 personal loans,1 car loan on head like him Trapped in bad investments Luckily, no credit card o/s, gold loan. Looking for coming back to India, who can offer 2L/month but not happening.
Thankfully Randomly got this video in recommendation. Seriously how relieved the person would be without any debt . The clarity and the plan that u suggested are next level . I can see his happiness after completing the loan with this plan . Thanks a lot for the video ❤. Love from India 🇮🇳
Your videos helped me to calculate my finance. Suggestion : Please consider the EMI paid off if possible. Example car loan : Here you are calculating after 13 months, around 1,95,000 paid interest+principle amount. outstanding will not be 7L, it will be around 6L.
After 10 months the car loan and the registration loan amount would be less than 7 lacs and 5 lacs deducting those 10 months emi, so actually, He would get over with those loans little early than what you mentioned. I know you did not go for precise amount amd calculatiom but yeahh, that is something caught up my in my observation. Overall great suggestion👍🏻
Wonderful suggestion, it’s quite an inspiring steps to follow to have a wonderful life…. But last two months I have tried to do a similar thing by paying of my loans and few debts, but practically something else gets added up… family function, guest visit… bla bla takes off my plans… and I am back to square one….its quite challenging to genuinely follow steps - my opinion… I completely agree with the investment plan and will try to follow it…
Ankur Ji this one is the best of your videos and i am 💯% convinced... because i implemented these points except chit fund gold loan..it takes patience and time..Early starters get the benefit of time.
Sir, I truly appreciate your efforts with this series. I've faced even worse financial situations before and managed to turn things around. I approached it differently, and your videos have been a tremendous source of learning for me. Thank you very much 🙏🙏
Good suggestions, thank you One more thing is to be added or adopted in our life is charity, is given self satisfaction and added value to life, also blessings 🙏
If you wish to be part of the Money Matters series, please fill up this form: forms.gle/Tmbo2nUTnhn9vjpG7
Money Matters is a series where I have conversations with normal people such as you and I, on your personal finance issues.
It is important to note that I am NOT a financial expert, I am NOT SEBI registered, and I am NOT qualified to give financial advice.
Everything that I say in these videos is purely through my own experiences.
- So these videos do not offer any stock tips, or specific mutual fund recommendations or get-rich-quick schemes.
- I am not selling any product or service through these videos.
- None of the brands that I mention in these videos have paid me to mention them, unless I explicitly say so (and I will say if the video is sponsored).
This also means that my advice may not always be the right advice. So incase I make a mistake, the best way to correct me will be to share your point of view in the comments, so that everyone can benefit from it.
I am not perfect, nor claiming to be either and would love to learn and grow.
The idea is simply to help people with their finance journey and through their story try to help others who may have a similar story.
If you wish to be part of this series, please fill up this form forms.gle/uj9JPUBp8Wo9nZQi7
My Money Apps:
Indian Stock Investing (Zerodha): bit.ly/3iYKROh
Mutual Fund Investing (Coin by Zerodha) (You will need to create a Zerodha account for it first. Coin is free): bit.ly/3iYKROh
US Stock Investing + Investment Tracking (INDMoney): bit.ly/3tT5moR
Portfolio Investing (Smallcase): bit.ly/3u0is0I
Corporate Bonds (Wint Wealth): bit.ly/3sbUI8c
How to pick the right insurance (Ditto): bit.ly/3xFh7OU
The above links are for products that I personally use for my own investing. If you create an account on any of these using the above links, I stand to make a referral income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L. DO NOT assume that these are the best products in the industry. Please do your research and let me know if you have any questions.
My bestselling books:
'Make EPIC Money' here: amzn.to/3WHJ43F
‘Get EPIC Shit Done’: amzn.to/4fK1IR5
‘Do Epic Shit’: amzn.to/4fK9uuv
My gear for shooting this video:
🎥 Sony a7III camera: bit.ly/3M42wAV
🎬 Sony FE 24-70 f2.8 Lens: bit.ly/3KCCiF0
🎙 Shure SM7B Microphone: bit.ly/3O1NAVA
🔆 Fill Light 60W: bit.ly/37aJolP
💡 Key Light 150W: bit.ly/3O9nyjs
📽 Benro IT15 Tripod for Sony a7III camera: bit.ly/3O4PvJ1
The above links are on Amazon. If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L, in 2022 we contributed 53L and in 2023 we contributed 52L.
I am earning 10000 and had taken 75000 loan there is emi is 3000 per month
Its had become in my fault.
I am alone to run my family so I can not save money .
Please guide me
Aapke Hisar se Garibaldi Kaun hai
Kool
Sir What if Vivek took Top-up loan from home loan low interest rate compared to personal loan to pre-pay credit-card overdue with any other loan?
Sir I need a financial advice can you give me some time to discuss. Please
Even he is earning very good money, he was trapped in this debt trap… that’s why schools should introduce personal finance courses at the earliest age
Agreed
Agree
Nowadays schools will only suck money from parents. Why do they even think of teaching kids on personal finance
Every benglore same
Imagine kid going back home with finance knowlege ask his/her parent, please send me to local schook and invest remaining amount in SIP, after 20 years my monthly payout will be equal to salary of iitian😂
In 40 min he just sorted out his life.
Makes a lot of sense
Good suggestions
To follow it is not easy looking at his history of taking those bad loans for whatever reason, I have my friends and others that I have seen they are always in trouble for liquid cash and will take bad loans even after earning a decent payout
@@sunilkumar-iq2oq Totally agree. Making plan on paper is one thing but implement the same thing in reality requires high level discipline. Looking at the scenario it feels like his decision making is sort of Impulsive, which made the things difficult for him. I am not trying to judge, but this is what i feel.
I was a menace when i thought how my father is not that smart, when it comes to investments and finance, now when i have come across all these videos and comments section, i feel he is amazing at Finance and investments, he made a house of his own with liquid money and NO HOUSE LOAN and stuff, he bought gold only when he had a surplus amount of money, again NO GOLD LOAN. He has absolutely no loans to be paid but yes he has a debt in his business, which again he doesn’t have to pay taxes for. He doesn’t have a lump some amount of money in his bank account. But m glad he has a NO LOAN policy. Wonderful of you Dad. You are not the smartest in the room but you are a genius when it comes to Finance and expenditure. Proud of you. Thank you.
blushing smile on the face of the person reveals he's been making mistakes.. Appreciate the honesty, appreciate supporting parents... pray for all ur debts to be cleared..
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@ElijahOliver-t9u That's actually quite impressive
@@claircourtway My advisor is Victoria Carmen Santaella
You can look her up online
@@ElijahOliver-t9u The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
"Ankur, your wisdom has transformed my life! After watching your videos, reading your books, and diligently applying the Power of 72 principle, I've achieved what seemed impossible. From nothing to 25 Lakhs in just 2 years, all thanks to your invaluable insights. You've proven that true wealth isn't just about money, but the knowledge and mindset to make it grow. Forever grateful!"
how can you please explain
Which books
Nothing to 25 lacs. In 2 years
Please explain how
The birth of his children served as a catalyst for him to initiate a more structured financial plan, signaling a positive shift towards considering the future. Despite initial apprehension about impending fatherhood, your encouragement provided him with hope and reassurance😊. It's understandable that as we begin to earn, we also seek moments to enjoy life.
Most people miss it but the secret to living and retiring comfortably and without debts is finding a way to make returns while your money works for you. My Dad, as i remember started saving for retirement quite late but I know he was making more than 10k returns from his investments monthly and it was completely passive.
the problem is that most don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.
Tax planning is also crucial for optimizing investment returns. If not planned well, taxes can eat into your gains and significantly affect your portfolio growth.
Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan,
This is amazing, I'm curious, how did he do it? Was it real estate? Or he was a market enthusiastic?
I would say, close credit card before emergency fund itself. Its more than 36% interest.
Exactly. It should be pretty obvious for anybody with common sense.
Same here
Yes. Correct
While that is correct the person said he has zero in bank as of now, so the logic was to pay off the small things that can be closed in full first so that the amounts going for that will stop and then the person can start aiming for bigger things to close! You don’t want to pay 1.30L for cc and still continue to pay cc, and 2 emis 🤷♀️
I would advise to keep home loan emi constant as it's a cheap loan. Invest the extra amount in equity
This is a gud one. Hands off to him being transparent. He looks really worried and stressed with the situation. Hope everything will be back on track gor him soon...
Stressed...? This guy after so much expenses ,looks calm n smiling...like a fake case study.
Well noticed @@PalBose
It takes a lot of heart to say all this on video. All the best to the brave man!
His expressions, especially shape of his lips and eyes were talking loud about his embarrassment and what not. The moment he said, we are expecting and a baby is coming in the next month, warikoo ji ka toh game hi hilgya. Main toh dargya bhai. Jai Mata ki.
True
Thank god, I started early and I am almost paying out my loan. This was very scary video
I heard this type of conversation for the first time and what an amazing solution you drafted for Vivek... Kudos Ankur...guess this is your way of giving back to society... Brilliant and Thanks
I am senior citizen who is retired . It is a delight for me to watch your videos. There is great clarity of thought and sense of purpose. I am sure many who are watching the video will take follow up actions taking stock of their financial situation and chart a new way ahead.
The earlier generation did not have the advantage of technology or financial information but what helped many from financial ruin is that they did not have access to easy credit !
Sahi kaha Jaya ji
Thank you Sir Warikoo for your advise. I am 24, earning 1.4 Lacs a month. Having term insurance of 2 Crores, having health insurance, paying of my father's home loan, Paying of my education loan (Slowly for the tax benefit & lower interest rates), the rest goes to my SIPs.
All because of you, I have been following you from last 2.5 years. Doing whatever you say because it makes a hell lot of sense.
He is a genius in taking loans after earning more than 2lakh salary!!
Trapped.
😂😂😂
Loan kiya nai jaata, ho jaata hai, just like pyar!... Just that one learns only from their mistakes.
Genius!! Hope u are being sarcastic. 😅
Bhai SUV lena hai, iPhone Ultra Pro Max lena hai, Macbook Pro M3 Pro lena hai, wife ke liye diamond bikini lena hai, Apple watch lena hai, Gucci dress lena hai.........toh loan toh lena he parega reh deva.
Ankoor sir you really won my heart when vivek says he has nothing left in his account and your smiled
I am really stumped with this conversation
Hats off to you vivek hope you will come out of this situation very soon you are truly brave man👏👏
This was absolutely an intense one. Fabulous job Ankur for breaking this situation down. Most of us are getting stuck in the urban trap and such videos are good reminder of what not do. Felt ease after seeing the plan you made..
Not included expenses above: Marriage functions+ day to day small but regular expenses+ doctors expenses+ shopping+ personal care + baby expenses like schooling + donation+ School activities+ high fee+books+ then college+ dresses+ mandatory 5 years child doctor visits are the biggest expenses....
Note: you cant fix problems in just any excel sheets... Life is not like Algo programming...
Emotions are the biggest enemy of human.
And what if this couple got divorce in future???
Or might loose their jobs.!!??
Life isn't that predictable
Heart pumping analysis..start to end..thank you ankur and the guy.
The moment he said they are expecting a baby and the worried face he had for his financial plan brought tears in my eyes. The man of the family, might not put it into words but takes a lot of weight on his shoulders, it is a blessing that Vivek's wife is sharing the journey with him only to give him more courage and strength.
Bs ... So many unnecessary loans
Such a great video Ankur, this guy was in intense pressure and you gave in PRACTICAL HOPE, the smile at the end shows it feels much RLEAXED now.
This also teaches us something that HIGHER INCOME doesn't necessarily means a HAPPY/SORTED LIFE, at this point I can imagin having income of 3.5L and be sad but this is a real example. This money matter series not just helps that guest but also inspires and guide us as an Audience, thanks! KEEP POSTING
This is by far the most useful video I've seen on You tube @warikoo sir!! I'm currently in a similar situation. Trying to get out of it in a similar path.. But instead of cracking higher package I'm planning to move abroad and clear my loans.. I had done good investments as well in the past 3 years.. Just a month ago I realised investments are not right when having higher interest loans.. So I withdrew all the investments and trying to pay off my loans.. After watching this video I'm reassured that I'm on the right path.. This financial education should be taught to people from a very young age so that more people don't fall into the debt trap.. You are changing many people's lives with your financial knowledge.. Keep going and stay blessed sir!!
See the gradual relief smile, feel our loans are being cleared.
Good Ankur help people..
Sir Below points are my suggestions ,
1) His home loan EMI Around Rs 67 k in that interest only around Rs 60k,
2) basically vivek is not staying in bangalore permanently due to his native is Vizak just sell the house with good market rate may be he will get it around 15 to 20 lakhs excess amount for that amount to use repay the existing liabilities.
3) In bangalore city around 15 to 20 k with part furnished house will get it rent ( Just look into home loan Interest part around 60k interest, instead of paying Rs 60 k interest Rs 15 to 20 k rent payment is best option and you will save 40 k every month in that )
4) after that you are sending Rs 20 k to parents just increase that amount as your wish and inform to parent save the amount and try to invest in land( NA plots) in your native place.
5) Try to build house in your native after certain period because end of the day you will go to your native place only.
6) Vivek just think as much as practically, In your scenario you have large liabilities first thing come out from liabilities then think about savings.
7) In bangalore any time job losses is their at any movement at any reason so come out from the liabilities.
I think that's not a smart decision,
Better
He is a telugu that too engineer.. Soooo
He can't come out of trap from parents and wife
If he was single he would hv done that it depends upon wife also....
Wdym ?@@Harshamostwanted1
The one thing i noticed in this conversation..after paying everything he still left with more than 70+k per month and he said he didn't had single rupees in account..btw @ankur sir awesome session ...
Maybe he was not taking his wife's money into consideration.
Yes
I think there are some miscellaneous expenditures being missed in the assumptions such as shopping needs such as clothes, books, home accessories, religious needs, entertainment like movies, parties, house help, etc and this is pretty much why he has zero in his bank balance. Because of this, the assumption that he is saving 70k goes for a toss
@@saurabhtravelvlogs Yes exactly. I was waiting to see this comment. His expenses are more than 1L/month. Else he wouldn't have taken so much loans.
His wife might not be trusting him with her money
within this 48.25 minutes, you made Mr. Vivek entire mind free from all the debt. Amazing sir, I believe this video is not only for the young man Vivek, it will help for the most of the middle classes family leads. I am really feel Mr. Vivek is very lucky that he was very young and he got a very very good suggestions and escaped from the worst trap at the early stage. Right now I am 42, and my life is also same like Vivek trap. Will try to close all my debts aeap Sir. Thanks for my friend Mr. Balaji, who shared your video which is really work for me to get away from the financial traps. Thanks a lot sir.
Awesome warikoo ji. You got the smile back on that gentlemen s face. 😊
😀
@@warikoo You are a gem of a person like a big brother in a time of distress 🎉
This is a life changing Video that I have ever seen.
Excellent sir the way u explained is so heart felt.
3 lac salary vale v paisa manage nhi kr pa rhe hum....30k mein hwa mein ghumte hai haha
Paisa jinna aaajawe Katt e haiga 😂😂😂😂
paaave je tuhadi income 10k haigi aa tuc bhoot vdia invest and manage kr skde ho bs knowledge hove te loka nu show off naa krwana hove
Eske nashe bhi jyada hai
ha ha ha😄😄😄
The approach that Ankur suggested looks to be the best. But the important thing as Ankur said in the video to the gentleman “Do not get trapped in personal loans again” is a very important thing he should keep in mind. Since sometimes emotional pressure overcomes reality. Great video.
In the beginning, I thought this was going to be a very toughest problem for Ankur Sir but you solved it with a very wonderful strategy. Good advice sir 🙏
It takes guts to make such a video..seriously ..kudos to the team of Warikoo !!!
Wow loved this episode. I personally thought he could not come out of it but u made his life pretty easy.
Thank you, I am closing my personal loan after this video. Real eye opener. Planning isn’t as hard as it seems
It's tough to come out and accept that you are in a financial trouble and seek help. Glad that he did it. Hope he achieve financial freedom soon and glad that you are helping out people come out and seek help and overcome that debt trap.
इस प्रोग्राम से ये पता चला की अपनी हैसियत से जादा लोन लेना कितना खतरनाक है जो हुआ वो जाने दो.
सर ने बहुत बढिया तारिकेसे बाहर निकलने का रास्ता बताया. धन्यवाद सर 🙏🙏🙏
Wow.! Fantastic Anckur.! If he really sticks to the plan then he will certainly achieve that mark.!
Analysis and then give him a solid plan that's really wonderful.
Fix your finance & these episodes are my favourites. ❤
Excellent effort! Lakhs of people will get clarity in life. There are a few shortcomings of such calculations. e.g.
Wife's income of 94K may stop for short or long term with baby's delivery. Add- child expenses also. And all these are life events. They are inevitable and welcome!
So, he may take double the amount of time to pay off all expenses loans i.e. about 36 months-3 years
I will create 1 lakh emergency fund every month and pay off 1lakh credit card loan+other expensive loan every month for first 5-6 months. If wife's income not there anymore, then 50K in each...
Ankur's questions: 😃
Guest's answers : 🗿
Let's give some empathy to the guy, He was tensed plus worried about speaking about his mistakes 😊.
@@manojmuralidharan8571 Exactly.. I feel really sorry for this guy though I myself depressed about my financial situation
Forgot car insurance and maintenance. I already guessed about baby, he has slowly took it at end. Definately some more debts hospital, baby functions, travelling. He could have planned house on having savings in hands for down payment and emergency fund.
The over confidence of good income without savings in hand made him buy the house and end up taking multiple loans.
Appreciation to the person who shared everything with so much guts.
Me watching at same 31 with zero income and 100% intrested in investing alot for future.... 😅
What are you doing now?
Appreciate Vivek for being this open if it's real. All the best man. You've maintained the calmness throughout the session.
In this money matter series i think ankur sir is also get to know how its different in real life than 50 30 20 rule.
Real world has real problem and i am sure he did not told many expenses for wife and him clothes , relative visit etc etc. Worst part is as our salary increase our expense increased 3 times.❤
In starting after seeing this all loans entry in spreadsheet. I feel very scared in starting but I feel comforted after watching whole video.Really you are remarkable warikoo sir❤❤
Kaun hai ye log Jo mahine ke 2-3lakh kamaa rahe hain.. Gareeb logo ke liye bhi video banao ankur ji
Then come the part 42:46 I have baby next month 😂
Mehnat karke source of income badhao brother
Mehnat karke source of income badhao brother
Personally I don't feel that amount is that much big, It can be achieved.
Bhai ep 10 dekh le
Vaamo, Nuvu endi ra aaya, nakka anna daridram lo unnav. But kudos for taking this step, it will help many. I wish you all the best
Why not to close credit card loan before personal?
Yeah that is like 36 % per year
Yeah. Close this even before building emergency fund.
Might be due to lower due amount ...
Because ankur is not a certified financial advisor.
Free men esi hi advice milegi
@@jainabhishek8😂😂😂😂
Most of us end up making huge mistakes in our financials, but being bold enough to ask for HELP! is the greatest thing one can do to save self and family from distress and disaster.
You have greatly helped lighten the burden in just 40 to 50mins and bring about peace and hope.
In this much salary this guy is taking loans...hats off
Probably some of the expenses which is not considered or generally considered as a household expenses in this fashion. Typically, the following should also be considered in detail so that we can exactly know the household expenses
1. Maid Salary
2. Electricity Bill
3. Water Bill
4. Society Maintenance Fees -
5. Hospital / Clinic consultations Fees
6. Internet bill
7. Medicine cost
8. Car Servicing Fees
9. Car insurance
9. In case if two wheeler is there- Two wheeler Servicing Fees (also 2 wheeler insurance fees)
10. Shopping expenses - Could be anything from clothes, household items etc.,
11. Personal grooming expenses
12. Loans foreclosure charges (if any)
13. Electrician/Plumber/Carpenter charges for any repairs or maintenance etc.
14. Annual health check up (if any)
15. diagnostic charges ( in case if any)
If these expenses were also included then we could arrive at a more close figure of savings and closing the loans appropriately. We tend to notice at loans and EMI's (which are big) but from experience these small amounts which we spend has a greater effect as well..
Ankur ! You are Really doing a great job. Thank You for Sharing the wisdom that you acquired through hell a lot of mistakes.
Bhai aaj kal insaan ki kamaieee se jyada unke kharchey hogaye hai kyu ki jo bazoo wala kya karega usko dekh kar mai bhi wohi karoo to isme he insaan trap hojata hai so jiyada showoff nahi karni chahiye.... Lekin bande ko acche se samjhaya aap ne good bhai.... ❤
@warikoo - I always learn from your videos. Thanks a lot Ankur. You very well coined it i.e. "Urban Trap". Most of the folks (especially IT guys) who would like to lead a comfortable life has been part of this trap. I have one suggestion: Let's not give them a figure based on anything beyond 12% irrespective of Midcap, SmallCap, Nifty 50. Let's guide them by showing absolutely figures not more than 10-12%. They will panic when they go through negative returns for few months.... Just my suggestion.
Ankur & Vivek what a super podcast man. 1st time I watch complete podcast. True I special thanks to Vivek that we software most fall in financial trap. This podcast wake me up & gave a thinkable for the future as well.
Congratulations for ur new baby and before she come to the world Vivek will debt free.
That's why girls are called Laxmi & debt free fir family.
This is wake up call for me.
Mr. Ankur I Want to take your advice for financial planning .
Is there any possibility to reach you only.
Thanks man..
Making investment when you have so much loan doesn't make any sense i like that line
This is an awesome video , as it is showing live breakdown of salary and expenses and debts. All the best Team!!
Why no Fin Fluencer is considering kids education expenses,upgradation of house or any major expenses comes during 30s to 50s..he is telling the guy to invest around 1.5 lck in sip..that too stepping up if required..he will start living life after his 60s..
Everything in excel is rosy😂
Hehe, he is gonna take another loan anyway after this video@@jainabhishek8
Agreed
What about the tax on the returns? If he is getting 13 Crore, it will definitely come close to 10 crore plus the expense ratio of those mutual funds.
Additionally he might have to buy gold for kids, birthday function, family functions, child education etc. There are so many additional things so definitely he cannot get that much of amount. It will seem easy in theory but practically not possible. Corpus of 5C is achievable if he saves and invests well and also he works till 50 without any gaps.
He is "Loan legend".
Why not pay the credit card before personal loan, since credit card interest rate is 36% while PL is 12% ?
Also, all investments are assuming expenses remain same for next 17/19 years. Which is not a real-world scenario. But guidelines are helpful... Thanks
A great session sir but personally i can't relate with that guy because his income is almost 7 times more than me but i am just 19 so it's harder to relate with him i want you to make sessions with people of my age and people who ages around 20-25 it will be more useful...for people like us
Again ur doing a great work sir...
Thanks for adding something in our lifes
You are 19 and you end up 34000 this is a fair amount of salary a 19 years guy gets here , you are doing perfectly fine
Please do a SIp of 7000 until 29 year of age !! That’s it for you life nothing much to do
The good part is is you are 19 years of age and getting this much .
Enjoy life and enjoy your life , this time won’t come back bt make sure 7000
Should be be you SIP until your 29th birthday and then stop it if you cannot
@@ashisharora6800 sorry sir not 34k but it's 27 k
Dude didn't even thank Ankur properly. Ankur did a great job with this one!!
Better enjoy your life than buying property. Buy only one house to stay and rest invest in liquidity like stocks and rest enjoy your life peacefully. Invest in education and going around places.
Amazing video! I am sharing it with my family members, who are in the age group of 27-30, so they can be financially independent.
0:38 Loan pe Loan liya hai bhai saab ne...
This is just so amazing! Such an eye opener session. Thank you, Ankur ji! I'm your fan :)
Kya kismat hai na 7500 ka stipend kmana wala m 50k salary k sapne dekhta hu.😢
Y bhai 2 lakh kma rha hai after deduction 😱 it's freaking unbelievable
Me earning 80k monthly dreaming of 2Lakh per month 😂
The chase never stops
Me earning 1.5 lacs dreaming Of FIRE
@@Prasanna2703how much corpus made ?
Earning 5.20L/month in dubai, still not able to make 10k SIP
4 personal loans,1 car loan on head like him
Trapped in bad investments
Luckily, no credit card o/s, gold loan.
Looking for coming back to India, who can offer 2L/month but not happening.
Thankfully Randomly got this video in recommendation. Seriously how relieved the person would be without any debt . The clarity and the plan that u suggested are next level . I can see his happiness after completing the loan with this plan . Thanks a lot for the video ❤. Love from India 🇮🇳
But he said he needs to clear gold loan in one year??
Your videos helped me to calculate my finance.
Suggestion : Please consider the EMI paid off if possible.
Example car loan : Here you are calculating after 13 months, around 1,95,000 paid interest+principle amount.
outstanding will not be 7L, it will be around 6L.
Sirji aapne unke 1.5 year ka plan bta ke unki hawa tight kr di 😂😂
Asli twist to 42:30 ke baad se chalu hua h video me 😂😂😂
💯
💯
😂😂😂😂😂😂😂😂
This proves that financial education should be top priority for Indian people.
Please make vedio on 50 to 70k salary
Thank you so much i loved ❤ it…. Im also in same situation . It will definitely help me .
Financial mistakes not to do in life . Who buys home without even registration money
ankur .....a big shout out to a genuine and magnanimous motivator...
KUDOS......keep up with the good work brother
Ye 97k free amount kidhar se aaya😅
Exactly same ques in my mind
I believe, 97K is the freed amount which he is currently saving after paying all the mandatory payments from his salary
After 10 months the car loan and the registration loan amount would be less than 7 lacs and 5 lacs deducting those 10 months emi, so actually, He would get over with those loans little early than what you mentioned. I know you did not go for precise amount amd calculatiom but yeahh, that is something caught up my in my observation. Overall great suggestion👍🏻
ये बंदा इतना शरीफ दिख रहा है।but ये है नही।ये पक्का कोई बड़ा कांड करता है।इसीलिए इतने पर्सनल लोन की जरूरत पड़ रही।
और उसको सब पता है।
😂😂true..may be share market 😂
Classic Urban Trap - Solved beautifully by Ankur Warikoo ji !!
Awesome session and amazing guidance given, Ankur! God bless you
Very much relatable , i too am in a similar situation. All’s well brother. Best wishes.
Appreciate your efforts Ankur and the Guy has shared his expenseses very cleary..we can appreciate him as well.Thanks for both of you for the session.
Wonderful suggestion, it’s quite an inspiring steps to follow to have a wonderful life…. But last two months I have tried to do a similar thing by paying of my loans and few debts, but practically something else gets added up… family function, guest visit… bla bla takes off my plans… and I am back to square one….its quite challenging to genuinely follow steps - my opinion…
I completely agree with the investment plan and will try to follow it…
Just saw this video and I can totally relate this with my self where I am in same phase with no money and lots of debts. Under typical urban trap.
Very insightful session Sir. Thank you ❤
Ankur Ji this one is the best of your videos and i am 💯% convinced... because i implemented these points except chit fund gold loan..it takes patience and time..Early starters get the benefit of time.
Sir, I truly appreciate your efforts with this series. I've faced even worse financial situations before and managed to turn things around. I approached it differently, and your videos have been a tremendous source of learning for me. Thank you very much 🙏🙏
Loved this episode ...,u gave him a right path and make him smile 😊😊😊
Ankur , such a nice and honest gentleman!
Such a useful one for many
Hope he settle all his debts and lead a peaceful life 😊
Wonderful Ankur 🎉 This is a classic case of Ignorance of Personal finance. Don't live showoff life.
Ankur sir, you are really amazing... I learned a lot how to clear off my loan burden of approx 15 L personal loans and 10 L overdraft loans
Loved it @Ankur !! You brought smile on Vivek’s face
You are doing very great job Ankur !!
All the best Vivek, keep cool and going on
Hi Ankur, the explanation is very useful.. I took very important points for my planning
Good suggestions, thank you
One more thing is to be added or adopted in our life is charity, is given self satisfaction and added value to life, also blessings 🙏