I’m an Investment Banker (with an accountancy qualification) and on this channel we explore all things personal finance, self development and business. I hope you enjoy the ride where I share everything I know (and am learning along the way) to create a life of my own design.
I 100% agree with your 7 Nischa - thank you. I would like to add an 8th, more important than all of your 7 added together. Personal friendships, be it your partner, family and friends. One biggest regret of end of life people is letting old friendships evaporate over time. Life is just miserable spent alone. This is a real life investment. Keep the vids coming
I managed to grow a nest egg of around 120k to a decent 💲950k within 3 months. I'm especially grateful to Andras Bohm, for exposure to different areas of the market.
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience..
I wouldn't consider wedding insurance "safety and security" 😂 but everyone has different lives. I'm getting a termite inspection today, it's expensive but THAT I would call safety and security.
I have splurged on things that I wear or use every day and that I like. I good work bag, a good coat, a nice watch, a nice purse. I have splurged in my own education for sure. I save on cars (drive and old beater) and the truth is I don't go out much.
Excellent suggestions - especially safety & security. Don't forget travel insurance no matter what your age. My friend in her mid 20s is now out of almost $5,000 as she booked a European cruise and land holiday with a friend whom she fell out with 2 weeks before departure and had to cancel and got nothing back.
Because when you're poor your expenses eat up all your money. When you have surpluses and those savings are making you money it's like a machine if you're smart about it and don't short-circuit the process.
I was just having the "magic moments" discussion with my S.O. the other day. We were talking about how we appreciate our tendency to spend $10,000 on a big trip, done right, rather than to spend that same $10,000 eating out at local restaurants over the course of the year. In 10 years, we will remember all the highlights of the trip, but would we really remember going to the same handful of restaurants over and over again? Also... I wish more people understood the true value of professionals. I own a CPA firm, a very good CPA firm. We are more proactive in our approach than many firms that are more compliance-oriented. I have one couple that are personal tax clients. Over the past 6 years our firm has literally put the better part of $50,000 in their pockets, just through two major opportunities to apply intelligent planning. This was not money that was coming to them anyway, and we simply put numbers on a tax form. This was education and experience being employed in a diligent fashion. The majority of our competitors would NOT have capitalized on these more aggressive (but legal) strategies. We have literally paid their accounting bill for the rest of their natural lives, and probably their children's too. Yet when we send the invoice each year, you would think we were asking for a kidney. It is baffling. We are giving serious consideration to firing them. If you have a good accountant, call them right now and thank them profusely, then do everything you can for the rest of your time with them to show respect and appreciation. They will do more for your net worth than just about anything else you can do.
Here are the key takeaways from the video "7 Things You Should NEVER Skimp On": 1. Accelerating knowledge - Invest in gaining knowledge and skills, whether through books, apps, classes or tutors. Paying for expertise can accelerate your growth. 2. Milestone memories - Spend money to celebrate and create lasting memories for major milestones like birthdays, weddings, graduations. These memories are invaluable. 3. Health trifecta - Don't skimp on sleep, nutrition and movement/exercise as they vastly improve all areas of life. 4. Upgrade tools - As you grow, invest in better tools to support your progress when basic tools are no longer sufficient. 5. Safety and security - Pay for insurance, safekeeping of valuables etc. The peace of mind is priceless. 6. Hire professionals - Hire experts in fields like law, taxes, training as their knowledge saves time and money long-term. 7. Retirement savings - Start investing for retirement early to leverage compound growth over time. Pay yourself first. The overarching message is to thoughtfully invest in personal growth, health, asset protection and compounding for the future - as the long-term benefits far outweigh any short-term savings.
I don't know what mic setup you have now but it sounds flat. it almost sounds like you're talking in some kind of anechoic chamber and not natural. just my impression
Thank you Nisha for your videos, I really listen to everyone of them and enjoy them because they are genuine and real life principles. Very easy to understand and addresses different topics that are very important. Love it
Yep! I am actively paying down my debts. Not much more to go. I have decided that I no longer use debt for things and I will only use debt to purchase opportunities that make me money.
Good morning Nischa and a belated Happy Birthday. I wish for you continued success and enjoyment for you in this next trip around the sun. This discussion was spot on! Great discussion and sharing of your experiences, thank you. Keep up the great content and have an excellent week. Larry, Central Valley, Ca USA
