Manish Chauhan
@jagoinvestor_
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Author | Blogger | Personal Finance | Money | Investing | Wealth Creation | Behavioural Finance | Psychology | Ex-Software
Pune, India
Joined August 2009
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Here is a FREE Gift from Jagoinvestor to all investors
Download this amazing master document template for all your financial information, ID, passwords and important contacts
Link to copy:
Took me 2 days to prepare this..
Please RT to amplify
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Here is a nursery fees chart.
Rs 8,400 for parents orientation charges.. what next?
Kids descipline surcharge?
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Here is
@irfanpathan
sharing how "money" and "happiness" are related
A beautiful sharing from his personal life worth listening to
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Do not stress yourself too much into achieving FIRE at 40 or reaching the massive wealth targets. So many young folks are dying of heart ailments because of this modern STRESS
No family wants an empty home with a filled bank balance.
It's OK to have a little less money
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Investment of Rs. 10,000 in
#Wipro
in 1980s turned to Rs. 500 Crores today
All these "single stock" stories happen in dreams or with dead people
Even if you were super lucky to pick the stock, how will you control yourself when 10k becomes 1 lac or 20 lacs?
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We will beat China soon and sensex can also cross 2 lacs
But can we first fix this?
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People in their 35-40's are not living in the house which was built by their parents, but happily buy 2nd home saying- "My children are growing up, they might need it"
Future kids may study, work, marry & settle in completely different cities or countries
Hand them liquid money
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Glad to watch kids playing Kho Kho early morning for a change
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15% return on very small portfolio is very small wealth added in your kitty
8% return on very large portfolio is very large wealth added in your kitty
Focus on saving/investing large amounts when you start wealth creation
Breaking your head on returns can happen later in life
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Got sad news today that a client passed away due to a paralytic stroke yesterday. He was just 50
A reminder that life is too short to tolerate things that don't make you happy
Reduce your stress and increase the fitness
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I have started seeing real life cases where term insurance bought by earning member has lost its meaning because the family does not have GMAIL PASSWORD!
Suddenly all the wealth creation which the guy talked about sounds in air, because family has just NO CLUE !!!
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If someone has Rs 20 crore lying in bank, his networth is 20 cr
If next day, he buys a very expensive house for living purpose for all 20 cr, does the networth now is Rs 0?
Just asking what others think?
Car is not an asset. Home equity in primary residence is not an asset. Remove this and calculate what you have. That’s your true net worth.
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Today our team helped a client in getting the health insurance claim of full Rs. 12 lacs (it was reimbursement claim)
Hospital desk has panicked the client saying it will be tough to get claim as it's just 1 yr old policy
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Buying gold for wife is not an expense, it is "majboori me change in asset allocation" 🙄
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In 1950, a veg pulav used to cost 25 paise at
#Dorabjee
& Sons, an iconic old restaurant in Pune.
Today in 2021, its costs Rs 120
Thats
#inflation
of 9.22% in 70 yrs
Here is a list of all items with old vs new prices
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TWO people earning Rs 2 lac per month are not same
~ First person may be earning his/her 1 month expenses
~ Another may be earning his 6 months of expenses
Don't ask how much you earn, ask how many months of expenses do you earn each month?
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Investment of 50 lacs in 2009
If you got same return of 7% in FD and a debt mutual fund (in reality you got more)
Here is the tax you paid
FD : 14.35 lacs
Debt mutual funds : 14,449
Power of deferring taxes and shifting to capital gains tax
Real CII numbers used in example
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I am writing "Here is a 40-50 point checklist of important things to complete once the main breadwinner of family has died"
Can you please help me build that list. It will help the spouse or family member!
One point from your end please!
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This 13 min video titled "terribly wrong financial decision at homes" by
@pvsubramanyam
is pure gold
It highlights so many deep rooted issues at our Indian homes related to money with real life examples..
Do watch and please RT
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How
#80C
limit has changed in the last 14 yrs?
2007: 1 lac
2021: 1.5 lacs
CAGR: Just 2.93% 😱
Inflation is 3 times compared to that
It's high time, taxpayers get their due share and the 80C limit is raised to a minimum of 5 lacs
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Does money increases happiness?
YES.. and here is how its done!!!
Kudos to Kartik 🙏
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When you analyze your policy (sold by friendly uncle) after many yrs 😀
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I just had a 20 min talk with a mother of 1 yr old from Andhra who lost her husband 1 month back
- She does not know his investment details
- Nominees are not made
- No WILL
- Zero Life insurance
- In-laws threw her out of house
Educated her on next steps she should take!
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This guy left his 70L job to do 1 yr executive MBA at IIMA for 25 lacs.
He got a job offer of 35 lacs at the end of it
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This guy took out 2 months expenses from his wealth to see how it feels in
#retirement
Read his experience
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No need to create big
#Fixeddeposits
while applying for
#locker
!
Here is how Sanjay surprised the bank manager after following my article and got the locker with just 7,000 deposit
Read his comments .. its worth it!
Read Article :
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A 42 yr old guy with a recently taken home loan who is working in "IT field" and lethargic enough to not upskill himself tells me that equity is RISKY
This is bheja fry level experience 🙏
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Did a 90 min session yesterday for HPCL new joinees batch..
Here are common words I heard from the group during questions
Boys
- High Returns
- Tax Saving
- Crypto
- Best
- Buying Car
Girls
- Goals
- Long term
- Planning
- Risk Control
- Saving for Emergency
Says a lot!
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Hi
@ICICIBank
I am ready to travel at my cost to your training center to teach some common sense & logic lessons to your tele caller team
When I told your telecaller that its 25th call this year for offering me insta OD
She asked me - "So, are you interested or not?" 🙏🙏
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Lets stop have that fake mental satisfaction that "LIC ka term plan le lo .. Reject nahi hoga kabhi bhi"
LIC death claim settlement ratio is at 16th rank as per IRDA report 2019-20
Max, HDFC, Tata, ICICI, Birla, Aviva all are better..
Source : (MINT)
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Before you get impressed by the magic of "Power of Compounding", remember that it happens in the 2nd HALF OF YOUR JOURNEY
Till then you have to keep "Patience" which is where most investors fail!
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One of the best ways to complicate your financial life is to buy a house which is much bigger than your requirement using a large home loan whose EMI is upto your neck which makes you wonder how will you deal with it if you lose your job?
Seen multiple real life cases!
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Saw 3 questions online where people are saying their parents have lumpsum of 1 crore, 66 lacs and 35 lacs
Common question - How to generate "Good monthly income" ?
No one thinking of how long it will last..
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Children education - One big expense coming your way
Here is an idea of what it costs RIGHT NOW
INDIA vs UK vs US
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ICICI mutual fund has a page where you can enter any two important details (like PAN and DOB) and find out if there was any unclaimed redemption or dividend or not.
Good for those whose parents may have invested in mutual funds long back, but family just wants to confirm
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WFH is a blessing .. It shows that
~ You have Work
~ You have Home
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If you are taking care of some retired person and not saving for yourself, you are basically copying what they did when they were young themselves
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Your daughter is NOT "paraya dhan"
Your son is NOT "budhape ke lati"
Now go back and redefine your financial goals!
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Middle class = Shravan kumar of indian economy?
Is it a reality or self-praise?
What do u think?
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7 types of Petrol Pump frauds
Its turning into a nation wide scam which is worth crores looting general public for millions everyday!
After I complained online, I got a call back from manager (3 min audio recording inside article)
#petrolpumpfraud
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Imagine running on a treadmill for 10 km and realising you are still standing at same place
Now create an FD for 10 yrs. The amount will go up, but in terms of purchasing power, you are still standing at same place.
(from our workshops)
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For majority of investors
Wrong Question : How to avoid
#EPFTax
and why govt did this?
Right Question : How can I reach the income level in my career where EPF tax is applicable to me!!? (thats 40+ lacs/year)
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The irony of
#realestate
Sector 😬
Every home buyer wants affordable prices and same person after buying it wants amazing appreciation 🚀🚀
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I love where my work takes me sometimes
We did a financial literacy session for
#BSF
in Jaisalmer a few years back. After the session the officers said
"Chalo, aapko le jate hain aisi jagah jahan koi civilians allowed nahi"
"Asli wale Sand Dunes & Border se 100-meter door"
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I helped a client to get back his money from a wrong product sold to him by RM who did a small fraud and issued a new policy with fake docs
Today client got back the money
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When I went to ICICI bank for some work last month, the lady after completing my work asked me
"Sir, Tax Saving ke liye kya karte hain? Ek bahut accha product hai with much better returns than FD"
All I did was give her a smile saying "Abhi paisa nahi hai mam.."
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Most of the investors
- Use Asian Paints at home
- Have an HDFC Bank account
- Drive Maruti Cars
- Apply for Bajaj Finance credit
But we dont hold these stocks
We are consuming their products, but not participating in their growth
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Thinking to buy Disney Byju's Early Learn program?
Hear what this guy thinks
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New Credit Card
#Fraud
Alert
You get a call for a credit card limit upgrade. They have your PAN, Card last 4 digits and can generate OTP from a very genuine looking SMS ID
Jamtara gang has trained their team with decent English/Hindi this time
Reported by
@snoringbuddha
..
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Investors who are new to trading and directly start with options trading
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How your financial life looks, when your home loan EMI is 60% of income and you still want to buy another home by trading stocks with borrowed money
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36 families are retiring next month from HPCL
Today whole day Jagoinvestor team is helping them all understand how to make their
#retirement
journey smooth, powerful and happy
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Never Judge your equity returns in the short term
Here is a 1 yr vs 10 yr CAGR return analysis for each day of investment
Fund: Franklin Prima Plus (28 yr old equity fund)
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Dont believe everything you read online
Too much money is chasing people/bloggers to write only sweet things about products and not highlight the bad part!
Check out the mail sent to me below and an offer of Rs 12,000 provided "Not to highlight the flaws too much"
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I am happy with
#Budget2022
80C is not decreased
Tax Slabs has not been increased
80D is intact
TDS is not raised
Crypto tax is just 30% , not 90%
and cherry on the top was that
#NirmalaSitharaman
also thanked taxpayers at the start :)
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A friend in Varanasi tells me that many families are taking benefit of corona times to get their children married off in a "simple way" saving lots of cost by not inviting millions of guests
Its an opportunity !!!
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Why Direct equity at all..
why not start a business and keep reinvesting the profits back and become a Reliance, Birla or Tata over decades?
Why pay STT and broking charges?
why MF at all? why not equity directly? pick a portfolio and do a sip in equity?
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Was on a zoom call with a client
He bought a 2 BHK in Bhiwadi at 17.5 lacs in 2010. Desperately trying to sell it now. The best offer is for 10 lacs
Wrong location and some bad luck with property!
His IRR is -4.06%
He was lucky he said, many paid 20-22 lacs for same!
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#inflation
is probably the most cruel and invisible force which impacts our lives
Checkout what a simple education inflation of 10% and regular inflation of 7% demands in future for a SINGLE KID
School : 1 lacs
Grad : 10 lacs
PG : 20 lacs
Marriage : 10 lacs
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Here is this investor complaining that his debt fund money was switched without consent into ICICI flexi cap nfo
Some more complaining same
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Just came to know that one of the maids in our society has taken Rs 1 lac loan from a private lender and paying Rs 15000 as interest per month ..
Thats close to 180% interest rate..
The loan closes the day she pays 1 lac back.. 😑
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Most of the people who achieve FIRE at 40-45 yrs are those who consistently save a major part of their income (like 70-75%)
A is more important than R for FIRE
A * (1+R)^N
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A friend bought a tiny flat for 13 lacs in Pune suburbs (so called upcoming area)
After 8 yrs, struggling to rent it out each time, whitewashing multiple times, she has finally closed a deal to sell it off at 11.6 lacs
friend had bought a flat in a metro city (ok, suburbs) 9 years ago. Today he is unable to get the amount paid as cost in 2014.
Anybody else with such terrible experience? Do you think this is an exception?
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Logged in to my icicidirect after 7 yrs
RM got a notification and called with excitement
"Sir, I can see that you finally logged in after many years.. Welcome back, How can I help?"
"Can you send me account closure process?. I cant find it" 😇
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6 reasons why people dont hire financial advisor for themselves (especially in India)?
Can you add more?
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I am almost in horror 🥶 hearing a case where this guy in Bangalore has 2 kids who are in class 9th and 11th and he has put all his liquid net worth into 2 plots just 3 yrs back
The plots are not selling now and the demand has totally dried up. It's a "long-term" investment now!
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I think my tweet in morning about LIC claims ratio got misinterpreted
Clarification : All I wanted to convey is that "if u dont fill your insurance form correctly and hide any material fact your claim may get rejected even if its LIC" .. same is true with Max, HDFC, ICICI etc.
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A 41 yr old focused last 12 yrs in closing his home loan and become debt free, but left with ONLY 4 lacs of FD + a tiny EPF (around 2 lacs) today.
Family has spouse + 6 yr old daughter..
Do you think its wise?
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Here is a 5 min financial health checkup questionnaire for investors. It gives you a score out of 100 and tells you where you stand in your financial life.
Here is the link :
I am sure you will love it
Do share your comments below!
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Why is
#IEPF
not finding legal heirs of the Rs 3,460 crores lying with them when one of them motto is "protection of the interests of investors"
Why not use some part of money to find the beneficiaries?
Thanks
@MoneylifeIndia
for story :
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Got cheated of Rs 400 at Bharat petrol pump in Pune
Registered complaint at BPCL website grivience system
Got call in 20 min from manager of petrol pump (recorded the call).
He offered to fill back Rs 400 petrol and terminate the employee
Writing an article now..
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Simply love this clip
Kids are supersmart
#riskmanagement
Risk Identification
Risk Assessment
Risk Mitigation n Implementation
Periodically Assessment of implemented action
and completion of actions/project
in this 2 mts video
#whasapp
fwd 👌
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RBI just published a list of such unauthorized
#trading
platforms, warning Indians that trading on these platforms can be prosecuted under the FEMA act.
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A dream written down with a date becomes a GOAL
A goal broken down into steps becomes a PLAN
A plan backed by action becomes REALITY
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Forget FIRE (Financial freedom), first you need to achieve LKKF (Log Kya Kahenge Free) in life 🤣🤣🤣
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Stop assuming that employement gaps are bad
Something I got on internet
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Can you think of any other categories if a person has to list all his monthly/yearly expenses?
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For those who think health insurance is waste of money
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A small suggestion from someone who is financially free at age 35
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Got on call with few people to calculate their real estate returns.
I ask them "What was the main reason you bought this property for?"
2 guys told me this..
"Shaadi karni thi na.. Flat dikhana hota hai na apne naam pe, Main to parents ke saath rehta tha"
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Paying tax is far better decision than saving tax in a wrong financial product, but no one tells you that in tax saving seaao
dont be that investor who looks for short term pleasure in money areas.
#incometax
#moneyhabits
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I want to leave my job and start a business
Indian Parents **
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Got a call from +442080898419
"Helloww, How are You today"
I am good - I said
"I am calling from **** brokers and I am calling DIRECTLY from London, so that I can share an opportunity to invest in international markets" (ENGLISH ACCENT)
Not intested
"ठीक है सर" 😬
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Feels so good to read some such appreciation from readers 😃
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If your UAN is registered with the EPFO, you can get the details of your latest contribution and PF balance by sending an SMS to 7738299899
You need to send this message: EPFOHO UAN ENG
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