Thank you for everyone for the kind words and the love. Means a lot. Many of you have reached out over LinkedIn. Happy to get connected. I am more active on Twitter though in case you wish to engage on the topic of Financial Independence
you look so peaceful and happy ,being financially independent. I am also an engineering student now and I also invest in stocks, though the earning from stocks has not been too much till now, still I am gonna try and be like you one day.😎
I don't think $1M is going to be enough in India. Sure tension will reduce but don't plan on retiring with that amount. This is from someone who is already been there.
Such clarity in thought. I am of same age and have been working towards FI since 3 years now. Currently at 10X, hope to hit 30X by 45. Cheers to all FI aspirants 🙂👍
@@avinashnair8433 hey buddy, I have done MBA and work as a Consultant. I make good money and invest my savings meticulously. Additionaly, I have a small startup, where I teach people Finance related things. No other secret😃
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
@rachealhubert74 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
Just remember that all these podcasters and people are also still figuring out their life and this is only one aspect. If you are young (under 30), do not fall into the FOMO of "retiring early" or figuring out "financial independence". I see freshers talking about FI and not about what all they can be good at. This is a clickbaity title and clickbaity topic but this is NOT the only goal.
The definition he had about Retirement was the highlight of the video. For the RU-vid team, what a video 💚. Every next minute had me glued to the screen as the previous minute.
At 4:09, Sumit Ramani was facing not getting happiness issues even after achieving his goals it happened because of the arrival fallacy and hedonic treadmill effect according to psychology. Arrival fallacy is the human tendency to think after achieving a certain goal we will get the happiness we want but it is not true and one of the reasons is the hedonic treadmill effect. The hedonic effect means humans will get used to things after some time. For e.g, A big house, or big car will only get you happiness for a few months to a year. After that, you will get used to it. It is the most important thing to get financial independence. But it is also worth knowing that achieving money alone will not give you happiness or fulfilment. There are different sources of happiness and we should look into that. It is just my personal view. I am 22 years old and started my journey so there is a very high possibility I am wrong.
Hello Sumit glad to hear that you are from Bhilai. I belong from the same place. I hope I will achieve till 40 age with the same definition of FI you explained.
Guys who are employed, i can tell you one thing. Financial independence is quicker if you have a business ,I dont know why people cannot say this explicitly but thats what the pattern is . Every other person has put the efforts in business be it Insurance provider , Online tution or a Chakki wala . Thats the reason you are seeing 8cr ,12 cr portfolio. As an employee you wont be able to achieve this figure in 20 years .
Never Retire From Work.. Once You Achieve Your Financial Goal You Can Switch To What You Love To Do And Earn From It.. Keep Yourself Engaged As Long As You Are Physically & Mentally Well.. Retiring At 35-40-45 Sounds Interesting But It Is Damn Boring Decision.. Do Cut Out Yourself From Over Load Of Work.. Do Give More Time To Family Friends And Society.. But Don't Ever Stop Working.. 🙏🏻
If you have smart kids expense is relatively less, may be 50-60L. I graduated 10 yrs ago but had scholarships so college expenses was almost zero. My brother went to Navodaya school so free until 12th and went to IIT and IIM and got his own education loan. My dad collectively spent under 5L for my brother and my education.
Hats off to your channel. From where are you picking so many billionaire? Just think what will Nirmala Seethraman do to these people if she sees these people.
This thing about FI is so prudent among corporates. Is it because of sheer work pressure and stress involved? I howsoever, wouldn’t like to leave work by 45-50, instead would like to continue doing what I love more than actually working hard (hustle mode OFF). I do have a number in my head but I am still unsure whether I’d able to reach that magic number within that stipulated period. This itself brings me to your youtube channel, tremendous work folks ❤
Wow😊”I would like to do less of what I don’t like doing and more of what I like doing” so much depth in that statement! Keep interviewing great minds as always. ❤
Started my journey for FI in 2016. Currently at 32, have accumulated a net worth of 1.2cr. Long way to go but certainly determined. Thanks for bringing such inspiring stories
When your aim gets so low, it’s definitely early way to become redundant in the society. This is not how greatness is achieved. Most successful people do not aim for the number to earn independence. It’s a highly insecure mindset which can reduce the quality of life for own self and people around. That’s not how scientific discoveries are made, that’s not how innovation happen. It’s slightly above the job security mindset in a non governmental work environment.
My issue with this channel, it shows only one -two source of passive income like bonds, real estate and shares. Anyone can do this, if they start early in the life and is consistent. But there other ways of passive income which this channel need to explore.
sir i am currently in 11 class and i have read over 15 non fiction books NOW I HAVE ALMOST COMPLETED THE PSYCHOLOGY OF MONEY BUT I HAVE NOT GOT THE FELLING THAT THE BOOK IS OVER THE TOP OR SOMETHING LIKE THAT I FEEL YHA RICH DAD POOR DAD IS BETTER ALSO IS THERE SOMETHING I AM MISSING IN THAT BOOK ?
Loved this conversation between two intelligent beings. Though not from financial background, I started on this journey and learnt value investing, no debt strategy and living below the means as core concepts which will make one reach their FI goals.
It was really nice and clear.... I have similar plans by next 2 year i am also taking retirement....this kind of videos really helpful to understand..... life after retirement..... nice presentation....❤❤❤❤❤
15% in bonds like corporate or government bonds and Mutual funds which have more portion of bonds 85% in share market , startup investment and Mutual fund which have more portion of shares..
I am 35 years with 35L debt right now .. 😎mission continues further forward ... Most of the people can't understand what I am doing .. But one day will see me in another level ...
I've seen two videos so far from your channel and you're doing such an amazing job! I wanted to say that your videos are so calming (no one's shouting at the camera unnecessarily - what a relief! :P) and so to the point! I'm glad that in a world filled with tiktok music, sensationalization, selling polarizing content etc. - your content is refreshing and has so much to learn from. More power to you! :)
You can't ever achieve that unless you go to US or EU. in India, 30# goes to taxes ....even i earned six figures salary per month but....retired with a corpus of abt 12L. And a 2bhk flat...very meagre savings for a lifetime.
I'm pursuing my ug in Bhilai never thought people like these live here so wise about money finance, is there any way I can connect with Mr. Sumit ? Would love to learn from him hands on.
Suggestion: The editing is poor. The moment Sumit is about to go deeper into answering a question, it has been edited out. And the next question comes instantly. Such content is meant to be absorbed in detail, not in small bits. Let your guests' thoughts come out the way they meant them to. Not how your editor deemed correct. Even if it makes the video a little longer.
This was a fantastic video, I felt this could get a classic feel when your team incorporate subtitles into it rather than auto generated since many errors are found typically more basic ones.
No offense but where I live a million dollars would last 3-4 years maximum, it’s very important to plan where you plan to live , country, state , city are the most important and then you build from there on .
Made 8 crores by the age 39? Excellent. Considering that he will live till he is 75, is that amount sufficient for retiring like going for Kilimanjaro mountains living with Masais? No. After "retiring" should he look for another source of income fetching around 2 lakhs per month? Yes. So can he call it a real retirement? No 😃
Somebody please explain me why is "8cr / 1 million " They wrote in that green box, 8cr is 80 million right??? Or is my basic maths not correct???? Iam in class 8th now
