How Much Money Do You REALLY Need?

Join us for an insightful chat with Monika Halan, India's first personal finance journalist, best-selling author, and SEBI advisor on investor protection. In this video she talks about the evolution of Indian markets, female participation amongst investor base and how to plan for your financial independence goals.
Wint Wealth: www.wintwealth...
You can reach Monika at: / monikahalan

[@WintWealthYT]

Fill this form to be featured on Wint Wealth: forms.gle/iuUgM7fyGTfUUiVE9

[@abhishekbera5157]

@WintWealthYT .. please explain the calculation of 26x and 35x in details. I mean is the figure that's coming is a FIRE number at 40 or a number which one must have at age of 60.

[@SuperRock-i7p]

@@abhishekbera5157 Whenever you achieve this number, You are financially independent. The earlier you achieve, the Earlier you Retire.

[@sivanbo]

unsure...no feedbacks or updates..may be hidden agenda ?

[@kshitijpeter]

What about the Alimony and very high monthly maintenance -- divorce is bad for men.....

[@mjayakumarmca]

@@abhishekbera5157 it is calculated like this. First find your current monthly expenses and multiply it by 12 for getting 1 year expenses. Then you should have 35x networth as of now(you should reduce all your liabilities from it) which is nothing but 35 times of your yearly expenses to go for FIRE.

[@Erinmills98]

I'm a noob and really want to dive deeper in the world of investing, what is the implication of the Fed's rate cut for new investors?

[@AstaKristjan]

A Fed rate cut typically lowers borrowing costs, which can boost the stock market. For new investors, it may create opportunities but also volatility-so, balance risk with research and caution, which is why it is important to start with a professional's guidance

[@LarsBergstrom-uh2eu]

I’ve been focusing on a diversified approach to boost my portfolio. Right now, I’ve allocated around 40% to equities, 30% to crypto, 20% to real estate, and 10% to bonds. The key to my growth (545%+ this year) is the CPF (Core-Peripheral Framework) I follow-balancing core long-term assets with peripheral high-risk, high-reward plays. It's all about having a strong foundation while making calculated, bold moves when opportunities arise.

[@simonbad]

I'm intrigued by this. I've searched for a cpf online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@LarsBergstrom-uh2eu]

Kristin Amy Rose is the Texas-based CFA I work with. Just search the name. You’d find necessary details to work with to set up an appointment.

[@Erinmills98]

Searched the web and saw her profile and accreditations, someone with great experience I must say, thanks!

[@alexsteven.m6414]

Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

[@PremSteve-yg4de]

I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.

[@belobelonce35]

This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far

[@samuelrandy-k8x]

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@belobelonce35]

She's known as “Rebecca Nassar Dunne”. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@firefighter-i6q]

Benevolence, this reference seems valid.. Just inputted her full name on my browser and found her site without sweat, 13 years of experience is certainly striking! very much appreciate it

[@ScarlyJo]

I’m 48 and just started my portfolio with around $180K. Slowly trying to create significant passive income and manage my Stock Portfolio. how do I invest to deal with markets ups & downs

[@SaintMoretz]

It's wise to seek expert assistance when beginning your financial portfolio. market is volatile, so professional guidance is so important..

[@LynetteHuson]

Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.

[@NeilEustis]

Hey friend, How can I work with your Fiduciary?

[@LynetteHuson]

*Victoria Louisa Saylor* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@Ogden1]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@NicholasBall130]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@StacieBMui]

Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.

[@cowell621]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@LiaStrings]

Mind if I ask you to recommend this particular coach you using their service?

[@neha4097]

spam​@@cowell621

[@cowell621]

“Rebecca Nassar Dunne”’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@rajeshnair1192]

Ms Halan is the personal finance pioneer in Indian journalism. I'm gratetful for her early columns in Outlook Money and other publications. Thank you for your wise words, Ma'am.

[@prasanthpathiyil]

Same here. Used to be regular with olm for long time

[@akshaypai2096]

Finfluencers need to see this 5:02, we save from 21 lil by lil, get married and all our savings are wiped out get into lil bit of debt 5 years down the line we get kids and save for house and so on.. so saving is very tough, very easy to say save 40 percent of your saving, but Indians here working from ground up , with no family wealth, supporting parents , living in cities with a chunk of money taken by taxes , its a marathon for us.

[@nikrao9]

No one is denying that its tough, but the problem is that people don't start at all by giving this very excuse and end up increasing their expenses. Even if one is not able to put aside 40% from the very onset, atleast starting with a small amount and keeping at it helps inculcate the habit. I myself only reached 30% I think by the time I was close to 30, having started in my early 20s with just 5000 a month. Also, regarding all the savings being used, its important to bucketize the investments so that one knows which is the bucket one can dip into in times of need or to fulfil a goal. Investing without goals in mind is never gonna help.

[@kumar-mk9yl]

I completely agree with you. However we can attempt to save & create side income to get out of the middleclass trap

[@amanagarwal6897]

You are very wrong, this comes from a 24 year old ​@gjw1wj721

[@anirboconiya]

In retrospect I could have saved a lot more - I flipped 4 cars and 2 houses, but anyway sanity dawned on me not much later.

[@ayushkumar-bg1xf]

@gjw1wj721 abey chutiye with 30 % tax how can you save 50% of your salary unles your parent made home in city where you work

[@hilly_billy9531]

Thanks Monika!!! One of the best decision of my life was to pick your book from a thela in New Delhi Railway station just when I was going to join my first job right out of Campus. You saved me multiple future regrets. I always read you book like an elder sister telling me what to do and what not to do. Truly indebted to you!!

[@ARTYIDEASWITHPREETI]

Can u please tell me the name of the book.

[@hilly_billy9531]

@@ARTYIDEASWITHPREETI Let’s Talk Money -Monika Halan

[@ARTYIDEASWITHPREETI]

@@hilly_billy9531 Thanks

[@katharinaleonore4092]

Success is not built on success. It's built on failure, It's built on fraustration. it's built on fear that you have to overcome. I pray that anyone who reads this will be successful in life

[@FinnHans-f8e]

You are right.!

[@loreleymadde2886]

That is why I had to start forex trading 2months ago and l now am making benefits from it.!

[@odeliamelusina8382]

My first investment with Wonghuatrades gave me profit of over $80,000 Us dollar....

[@TheodorSigmund]

And I can even say she is the sincere broker I know....

[@AdalbertBenedikt]

O' Yes I'm a living testimony of Wonghuatrades

[@CadeCowell-ft4fe]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket.

[@MalikTillman-dy2qp]

Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.

[@TannerHorvath]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.

[@Izzobird]

pls how can I reach this expert, I need someone to help me manage my portfolio

[@TannerHorvath]

*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@Nateknighty]

I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.

[@MrSatadal]

huge numbers of people want to get retire early which proves they are pissed off with their job roles.

[@sanjaypn4345]

Specially IT jobs 😢

[@vrundpatel25]

Plus insecurity of jobs - these guys say you will have lots of salary but we are not sure. Not all junior people will go to VP or director

[@funrelo]

What kind of comment is this? Complete Nincompoop

[@raghavaggarwal7624]

You are right sir, but the thing is they'll be more pissed once they retire early in their 50s as they won't have anything to do. When one achieves financial independence, they can keep their job but at the same time be stress free, as if they don't like their job they can quit or do something else, but doing nothing once you have financial issues taken care of feels dumb.

[@ramalingamsadasivan2835]

That's not true it gives them power to choose

[@FifthArima]

Monika's Lets talk money is a very good book. I've even suggested to many. I strongly recommend to every citizen in this country. Its just enough to have good financial literacy.

[@furreverfunny]

One of the most important concepts in FIRE - the SWR or Safe Withdrawal Rate - was not even discussed during the meeting. Generally, a SWR of 4% is advocated but in the Indian concept, 3% is considered a safe number. Would have loved discussions around this.

[@jjukjkjiok7782]

It was discussed. They said you should have 26 times your spending which is 4% withdrawal. Even suggested 35 times which equates to 3% withdrawal

[@dianaP14]

I’m 55 from southeastern Ohio but worked overseas all my life. I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?

[@katieiri]

I think of it this way - merely putting $1m into a CD at 5%, you're making $50K per year. If you can swing that for the next 10 years, go for it. But then again, if you have to pay taxes on this $1 million, you should consider working for another 5 years

[@fromthebirchwood]

thankfully googled Karen Lynne Chess and was able to schedule a call session with her, she seems very professional with over two decades of experience

[@MGTOWTheRationalMensClub]

Invest at least 15 % of your total net worth in physical gold. It is the best hedge against inflation.

[@VermaRajinder]

If you are going to retire in India and live by Indian standards YES !!!

[@vishnumohannair8506]

Depends on where you retire. If you chose to retire in India or use India as your hub, you are in the top 1%. Have a personal driver, travel comfortably, get access to cheap but excellent healthcare. You can live on earnings from 20% of your savings as well as social security benefits and invest remaining in Equities in US or India. Only thing is first come and live here for three months and see whether India is your cup of tea. Do not choose a tier1 city instead select cities like Kochi, Goa, Rishikesh, Varkala etc which are provincial but has quite a laid back culture but with access to good facilities. Other countries you can look for are countries like Philippines, Thailand, Vietnam [which is another great location], SriLanka etc. Or just hop from country to country in South east Asia.

[@Margaret-jl1cj]

The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?

[@Helen-tg4tr]

In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.

[@Lisa-jy7bk]

True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.

[@Laura-oo7gr]

This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?

[@Lisa-jy7bk]

“Angela Lynn Schilling’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@Laura-oo7gr]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@mariappan7kumar]

Every minute was informative and thought provoking. Mrs Monika clearly showed how a true financial advisor is different from Finfluencers. Kudos to Wint once again.

[@archanakr2905]

Lovely to see a financial advisor emphasising understanding the meaning of life and enjoying your twenties and thirties instead of always looking at opportunity costs

[@adityasharma2]

So true!

[@EVikasamapp]

1. Health - be happy and healthy- health insurance 2. Relationships - move out for tours trips 3. Good gratitude towards Society 4. Earnings - money , credibility Save 5k to 15k for month … according to goals for 20 to 30 years 1 . Fire -5k. Plan Corpus of 50 lakh to 2cr 2. House - 5k 3 . Child education 5k 4 . Vacation or trips - 5k - enjoy vacation for every 3years Life is beautiful… enjoy every moment of life … Duck of Fire concept

[@natarajang6125]

Excellent

[@erabhikdasgupta]

Bhai kaun sa house aata hai 5k main? Pg bhi nhi aata in 5k

[@EVikasamapp]

Save for 20 to 30 years and then buy .. do not follow any one .. please check your affordability it’s depended upon every individuals

[@SkiNett]

​@@EVikasamapp5k every month for 30 years@7% rate of compounding is 56 lakhs and after 30 years u cannot even buy a car, forget buying a house. So better start earning more or welcome to beggers class !

[@hshs4051]

I have been investing into VPF (voluntary PF) for almost 24 years. I started with a 5% of my basic increase to PF and then with each increment adding 40-50% of raised Basic salary added to it. So if my basic increased by 8% which may be 8000/- …I will increase my VPF by 2000/- or higher. VPF in my previous organisation was max 100% of your current deduction I.e 12% however my presentation company allows upto 88% of Basic. Good point about VPF is that it adds upto your PF, which is tough to withdraw. % given is good, now a part of VPF interest is taxable but still benefit overpay and the law of compounding is excellent as the corpus increases. Finally the money is secure with no risks.

[@chetan_l]

Excellent insights from Monika. Her knowledge and skills in articulating this vast knowledge into common sense advocacy is exemplary. A note to the interviewer: your questions are comprehensive, but you are not really building on the answers that Monika gave. In many instances, there was probably a treasure trove to be unearthed if only you had built on the answers that Monika gave. Something for you to consider

[@Vikasadhangale]

Great insights Monika Halan ma'am! I am in my early 40s and I am trying to teach personal finance to my kids. Very true like you said, its no less than a life skill these days.

[@deepaklad7979]

I was viewing her programs on TV and adjusted my retirement benefits insurance ,employment ppf etc slowly and steadily for last 15 years. At present I have. 3.4 Cr with 40% debt and 60% equity. PPF Self and spouse 50 laks which tax free .My spouse FD 35 lacks and rentel income and pension monthly separate. Madum motivated me to restructuring my retirement corps to Mutual fund from 2009 onwards. 🙏🙏❤❤❤

[@Stories_and_more_1991]

If Your wife does not have any financial knowledge here is a quick thing you can do to make her habituated with personal finance: Have her invest in any investment scheme she wants for a small amount say 5%-10% of whatever she is earning. and invest the same amount in any index fund/ETF and track it for 1 year. If her investments beat the index return, that will give her joy and confidence and she will be more interested now. if not, she will be even more interested in finance because it's her money that did not grow as expected. I did that with my wife. and in 3 years(after 1 year) her portfolio grew by 65%.

[@dipalihafiz9983]

Thank you so much for this excellent financial insights. Monika ji is brilliant and one can just listen to her non stop. please more on women investments and financial literacy. Specially for men and women who have worked entire life and could'nt save due to responsibilities and now with no savings. how to start saving with a small income in 50s . Thank you mam it was lovely listening to you .

[@MrGunaseelanm]

I know this lady since 2014. Monica's input is really great.

[@bishnusingh6984]

Monika Halan Ma'am, I read your book let's talk Money. An eye opener. ❤

[@notorious_new]

Read the second book as well. Let's talk Mutual Funds.

[@MilindBorkar_MENTOR]

I too read that one and gave the 📚 book to my niece to start awareness and save money at the beginning of her career. Now plan to buy her second 📚 book to read and implement.

[@Journeytodreamsandbeyond9542]

Me and my wife, we are in our early 30's already documenting our investment details in diary and updating in regular intervals and always planning oru investments together 😊.

[@Arh6671]

My favourite financial educator and one of very few people I genuinely follow for personal finance.. Her books are outstandingly good and simple to understand.. thanks for this episode!

[@fitnessenthu85]

It is very difficult to be employed until the age of 60 these days in private sector hence the formula of 4X, 5X and 6X at 60 is not valid anymore

[@neokarma5736]

Why? Here I am at 58, wondering if I should work till 65. I really don't know why I would stop working, though I have made enough money to last till my grand children's life (as long as both my kids have not more than 2 kids each)... If I stopped working, I feel I'll start rusting. Work is something that gives meaning to my existence (more than money)... Being employable is about staying relevant. if you aren't relevant - you are out. Unlike in Govt, where even irrelevant people are tolerated, private sector can't afford irrelevant people. So, keep your skill up to date - or find something else you can do. As someone who started in computer industry way back in 1980s, I have kept up with the tech trends, earned my management chops along the way, today part of C-Suite... If you are not able to put your years to good use - then indeed you will be forced to retire earlier.

[@technofete]

Y is it difficult?

[@vm-my6hg]

I felt the same especially for fast changing industries like Infotech. I've seen a lot of personnel being laid off for various reasons and when it comes to people in 40s & 50s, there aren't as many positions which map to one's profile and pay as much. This is where she rightly emphasized about skillset, basically one should be seen as a capable leader giving a good overall return for the higher salary.

[@007_Sun_Tzu]

​@@neokarma5736it's not just about skill my dear. There is nothing so exclusive that you can bring in a huge HR world like India. So it's more to do about age/package/industry/wave etc. if a layoff comes, you are one of highest paid on the floor. Count on it they will get rid of you. Your time was different coz MNC would fire US/UK/EU staff to save...bt now Indians have started feeling heat coz no more ppl left to fire onshore. I don't see a single 50 yo in my whole company. It's 500+ staff MNC ofc and same is mostly everywhere.

[@neokarma5736]

@@007_Sun_Tzu If by your 50s you are not having the skills to be in a executive position, where you decide the direction the company will take, then you are right - you may lose your job. If you have such skills in such critical positions - then only reason you will lose the job is because company itself collapses. Otherwise if company keeps running, you will be needed to run it.. Most people don't get to such positions , because top of the pyramid is very narrow and the skills needed to be there aren't hard skills - it is soft skills of managing large teams or markets.. If you have such skill in a steady state company, you won't lose your job till you decide to leave.

[@gramakirpal]

Very informative interview I am 63 and govt retd, wish I had known these things when I started working at 24 years. Well, now I can advice my son's better on these matters

[@ManojKChat]

one of the best podcasts on personal finance.. thank you very much ❤

[@dinyar82]

Thank you Team Wint! Most of your videos are targeted to people in their 20s who are just starting out! Would love to see more videos on what 40 year old should do when it come to Investments! Thank you.

[@adityapatnaik7078]

She is intelligent, eloquent, humble and hot - all at the same time ! kudos to this lady !

[@Raahulsingh]

Eloquent matlab?😢

[@greekmom]

I'm a 52yrs Director in a Tech company and I consider myself a high income earner at $350,000 per annum, I have a retirement account account but i still want to explore opportunities for short term gains before i start working less in few years.

[@anilbakshi4505]

If I Die before you I have been maintaining a similar diary from last 30 years and now I am 69

[@rajanig4421]

Short,crisp...great interview and importantly the interviewer....most interviewers interrupt the speaker like Beer biceps especially...this is good

[@affirmationswithmydaughter6532]

Yes interviewer is really good

[@JessicaKeith-uj1jq]

Retirement planning is essential. Did you know that in certain regions, you need over a million dollars to retire comfortably?

[@EricaWaters-lr6zw]

Indeed, it's quite a sum. I've been retired for three years now, and I'm only 46.

[@007_Sun_Tzu]

​@@EricaWaters-lr6zw Nice...even bots retire now😂😂😂😂

[@AneeshV1992]

This was a lucid interview with a lot of clarity, kudos to Nishant and team!

[@chdayakar1601]

Thank you madam for the clarity in your thoughts. I have read dozen of books relating to personal finance in the recent months..kept them on the table and wanted my 22 year old daughter pick one out! She picked 'let's talk money'❤

[@sabyasachirimpa]

Oh ho ha ha hi hi.

[@Mriganshi]

Thought provoking discussion, The ultimate diary was a great value addition ❤

[@SatyanarayanaBolenedi]

Good one !! Here are the Monika Halan's methods of calculation retirement corpus: 1. Based on expenses: FIRE Corpus = (Annual spending extrapolated to age of 60) * multiplier (n) n =18, if you want to eat up entire corpus yourself n = 36, if you want to leave some wealth for your heirs n = 26 mix of both 2. Based on Age/Income (milestones to track At the age of 40 - 3 x Annual Income At the age of 50 - 6 x Annual Income At the age of 60 - 8 * Annual Income @WintWealth Method-2 is not so clear For example, if at 40 years old my annual income is 1 crore, according to method-2, should I aim for a retirement corpus of 3 crores?

[@WintWealthYT]

Hey, glad you liked the video. So in the 2nd method, you are not calculating an early retirement corpus, it is only to calculate the progress of your savings to have a good enough corpus by 60. Think of it like milestones towards your corpus and not the corpus itself. It helps you track progress without worrying about that final target. So at 40, if your salary is 1Cr pa then your corpus should be around 3Cr. By 50, it should be 6x of your income AT 50 & by 60 it should be 8x. The assumption is that you will retire by 60, so whatever corpus you have at that age is the actual retirement corpus. The one basic assumption for this method is that you continue working till 60 or late 50s.

[@vinitpatel1396]

Thank you @WintWealth. You guys have taken the channel to another level with the last three podcasts with the guests that you interview. Keep up the good work.

[@rishi2504]

Great point raised on 40% Annuity in NPS

[@ppen8359]

It is a foolish point. Annuities give guranteed income that you cannot lose. Annuties also give you a gurantee that no one will steal your money. Having too much cash means that people will ask for their share of inheritence or even kill you for your money. There are a lot of benefits on annuities.

[@vkolani1]

@@ppen8359 I think she was more pointing to the companies that are managing your annuities and not annuities as an investment. The insurance companies, lesser said the better. Most of us know that insurance companies have no business to be in the investment business because it is not in the best interest of the investor. I can trust them on my insurance, not investment.

[@ppen8359]

@@rmds-be3zp It is well worth it because that cash cannot be stolen. People get mentally inadequate during old age and if they are sitting on huge pile of cash then someone will steal it leaving them nothing to live on. Annuities are well worth it. Indian retirement occurs way early around 60. The lifespans are increasing and one should plan 30 years for post retirement life.

[@ppen8359]

@@rmds-be3zp No I am not from Insurance industry. And anyone who recommends non-diversification and encourages risk is making a foolish point.

[@muskansharma9846]

This channel posts great content about financial literacy. But if I could make 1 suggestion, that would be to bring out more women on this platform. People underestimate the prowess women have especially when it comes to money and being one myself, I want to get more insights from women Rockstars.

[@WintWealthYT]

Hey Muskan, agreed and suggestion taken. We'll definitely try to highlight more female investor journeys.

[@saurabhkalra9055]

Liked listening wise, short & crisp, to the point discussion. Great interesting questions asked & how it was answered its superb.

[@arunkumarpg8555]

Questions should have been better as she is capable of answering deep personnel finance/investments questions.

[@kartikpalli6311]

They interviewed my inspiration Monika Halan. Wow. Great job, wint wealth 🎉

[@parvathialeti2871]

Thanks for bringing up this interview with Monika Halan. It is worth watching.

[@balakrishnaraoadigi3512]

One can easily visualise power of compounding through PPF after saving ₹12 to ₹15 lakh

[@akshaychougule5503]

She is a gem in the era of so called influencers who hardly understand finance.

[@bharathu5354]

It was such a delightful interview with ample amount of information & knowledge for financial planning. The whole interview was such a treat to listen to so well conducted 💐 Best Wishes to the Team

[@Beingapolymath]

A thought provoking and educational interview. It is so important for us to develop a healthy relationship with money. It’s not a thing to hate. It’s not a thing to love either. It’s merely one of the pillars of your life. You know it forms a significant part of your foundation. Once you’ve established a healthy relationship with money, then focus on the other pillars. Family and friends, education and health. You need all of these for your money to be useful. Money is meant to be spent, and meant to be saved. What you spend and what you save decides what your life will be like.

[@MgrIt]

This video should get a million views and more. May be it will take time for our people to appreciate good content, but wishing good to the creator. Pls keep up the calm tone of discussion, mild environment/ background, no flashy/ scary clickbait thumbnails & titles. You are doing very well. 🎉

[@chinmaytinaikar3292]

Hello Wint Wealth, I am grateful for the content that you put on this channel. It's very helpful, but I do have few suggestions. Many of the followers of this page, would probably know these things already (judging by the comments, on this and other videos). We may not follow these practices but we are on our way, my suggestion is try to reach to those women who Ms. Halan is referring to in this video who are either completely unaware about this topic or have heard about it but curious. In my opinion language could be a barrier, the people you bring on the show are smart, highly educated and well connected which many believe are the pre-requisite to financial freedom. With the risk of being cliché you may be following the India 1, 2, 3 story here. I think you are catering to the Indian 1, who has money to invest and is actually your client so makes sense but there's tremendous wealth with India 2 and India 3. If educate them then it will not just be a service to society and to the nation but will be beneficial commercially as well in long term. Anyways, thanks for these interviews, I have learnt a lot. Cheers!

[@WintWealthYT]

Noted. Thank you for sharing your thoughts.

[@TheAmandeep2011]

Very insightful conversation. The way she answered each question was commendable!

[@chiragjobanputra1]

19:56 this is the best part, the gentleman is the reason behind her success. Humble, simple, and honest guy.

[@friendeleven5711]

Its Chickermane sir who I am a big fan of. He is a very supportive and good husband.

[@NirupamSarkar3608]

Nowadays everybody can say blah blah on KZbin. At the age of 30 my networth was hardly $200 or rs 20,000. I was doing my PhD at that time. I moved to USA when was 35, I managed my money pretty well, my wife also helped me. Our savings were in the form of CD. Then at 45 I started learning about mutual fund and of course stock market. Now at the age of 60, my networth well beyond imagination of middle class. I did my PhD in AL which is going subject now and I’m one of the experts in this field. For your information I use AI to analyze stock market not simple math and economist or CA will use.

[@Flamefire77]

Hi, I’m a recent IIT graduate starting out my career in Quant Trading, any suggestions on how to start implementing AI algorithms for my trading strategies(any coursework or papers that could help??)

[@NirupamSarkar3608]

@@Flamefire77 Which IIT, I did from Kharagpur. You need to learn Machine Learning algorithms. Signal processing. You start with small amount, try to fit into the algorithms you mastered. Over the years you will have your own algorithm to deal with stock market, you will have your own sets of algorithms that work best for you. We are all individual there is no set rules.

[@tomythounaojam]

Such s great orator , composed, elegant , beautiful lady! India needs more of her

[@mazydrums5714]

I have watched so many videos on this channel and I really loved this. Thanks .

[@meenakshim4437]

Excellent advice especially for women. Thank you ma'am

[@EcomCarl]

Monika insights on financial independence and the importance of documenting one's financial life are invaluable! Empowering women to take control of their finances is crucial for long-term security and success. 📚💡

[@shankerpai5052]

Great Interview Monica Halan... From MAKE A WILL FOUNDATION

[@sanjeevjikamade]

Monika mam is really a pleasant personality. Loved the talk, thank you Nishant.

[@abhishekkumarsinha806]

I remember buying term insurance and begin to invest after reading her book on personal finance.

[@durgaduttsingh2409]

One Angle I think about the 40% annuity is that it will go away anyway as Tax if you don't take the special tax benefits of the NPS but I only allocate that much to it. I am happy that 40% blocked money will have my or my heirs name written on it rather than surrendering it today to Tax Man 😊

[@ppen8359]

Also, that money cannot be stolen by anyone. Too much cash means people will come after you for money. People do make mistakes when they are old.

[@kns6132]

Really great insights from Ms Halan, I do maintain a detailed financial diary so that family has all the info of something wrong happens :).

[@stacyliddell5038]

Depends on what you do. My dad earns way more now at 64 than he did between 40 and 50.

[@ushaiyer2409]

I loved the interview as well as the interviewer and interviewee! Clear questions, simple and absolutely clear answers. Thank you!

[@praneetsingh8681]

A very informative video.....but the part where ma'am is talking about the divorced women being left with just the laundry bills, is she not considering the concept of interim maintenance and alimony payment which is reguraly used to harass and dry out divorced men?

[@vishnunathr7804]

Requesting wintwealth please convey my request to Monika Halan. I read her book let's talk money in Malayalam version but language used by the translation is very tough to new (old) to finance. Requesting to simplify the language in next edition or change the translator and post new translator to ur next books. Yours sincerely VISHNUNATH R

[@armitra]

Everything she said is filled with wisdom and experience. Thank you Ma’m!

[@sahil2548]

Thanks for the great views mam. You mentioned that wife's salary is being invested on husban's name. However, what about the situation where a man registers his home on the name of his wife. It is about mutual trust..

[@joflo63]

Take all the money,i don't want to know, don't need to know!Level of trust is great!!Obviously madam was doing a excellent job.

[@lonewarriorind8617]

What a classy interview !!! Real food for soul, made my Sunday

[@WintWealthYT]

And your comment made our day (:

[@anuthomas4488]

A very sensible, honest and practical talk I have seen in a long time ❤

[@aksharaschool1811]

The best and top rated video of WW WintWealth

[@K_Singh_9494]

Very informative and helpful video. It's refreshing to see a Woman taking the lead in the household to manage expenses. I would admit to my ignorance about who Ms. Halan was before watching this video, but a man learns new things everyday :)

[@bharsanta5029]

The best thing.., I liked here is.. the comment she made: “If u r financially independent, doesn’t mean.., you/we have to stop working”.

[@TapasChakrabarty-j7r]

She is so wise and gracious. Does not talk down to the ordinary people.

[@alok1340]

PPF is definetly good long term investment but cannot make crorepati as always limited in many aspects. Rich person are very confused how they become rich. Earn more than 3 times of your need you will become rich is only way to become rich. And one thing is investment is always a roller poster type thing whether it's property or market or anything. To become rich you earn more.

[@AnkitG12]

Thank you for the time worthy conversation.

[@techmatehd4514]

5000 per month is a also a lot of money back then in 2014 or 2010 That is not being said..

[@cyanidesky8170]

Loved the discussion. Will download it for reference later.

[@festivevibes23]

Fire calculations on expense method and income method not matching. For 40 year old with 50 LPA income, FIRE number as per income method is 3*50 L = 1.5 Cr. Its very less. Suppose his annual expenses are 10 Lakhs.it will be 46.61 lakhs at the age of 60 (inflation 8%),as per SEBI calculator. 18 * 46.64 comes around 8 cr. This seems to be correct FIRE number. There is some correction required in income based formulae.

[@WintWealthYT]

The income based formula suggests the milestones your corpus should be reaching at each stage. At age 40 you should be at 3x of your annual income, by age 50 it should grow to 6x of your income (at 50) and by 60 it should be at 8x (of income at 60). Hope this helps.

[@Mightyteamplayer2024]

8cr is what you need at 60, but having 1.5 cr at 40 and compounding at ~8.75% rate will make it 8cr. This means you cannot eat into 1.5cr at 40 and you need to allow it to be invested. What you need for 40-60 if you plan to retire by 40 would be much higher

[@melancholyX247]

This was one of the best videos. So peaceful and calming to hear them talk about finance.

[@kanpurjam]

She mentioned lesser allocation towards equity MF for lesser age. Any reasons? I always thought equity was the way to go for. Any other video giving out asset allocation in MF with adequate guidance on the subject?

[@0nlypets_world]

Risk of volatility, debt is fixed moreover

[@aurkom]

10:24 Very strongly agree. That 40% forced investment into an annuity product is what has kept me from putting money in the NPS.

[@shijithpurushotaman6011]

Great, Monika ji, you have given so many minute details touching all the important points one should take care to be financially independent. Also, the record keeping book was awesome. I always worried about that. I shall make a spiral book, too. Thanks, Shijith Purushotaman

[@shivajijadhav3091]

Excellent interview.. really good information shared for youngsters...

[@KM-vn9mj]

In Islam we cannot take interest as it is haram. So when I was like 33 me and my husband did with our saving was to buy our first 500 yards house. At that time it was only 60 lacs. Now it’s 10 crores. All this years we gave it on rent and got about 5 criers as rental income from it and were able to buy more and more of property, gold . Now Alhamdulillah we have big cars, houses , apartments . Very clear that keeping money on interest is useless. Had we not invested in real estate we would not have reached to this point. Also, in Islam house expenditure is Husbsnd’s responsibility so I used to save 90 percent of my salary and used to help husband property in both our names. Now in 50s I am able to buy property in my own MashaAllah. I now also invest in big brand purses, watches. As their price now is about four times what I bought them four. Real estate is the best investment no matter what

[@logicsandtrolls3616]

Islam wale 70 bacche karte hain isi lie.

[@NiranjanBendre]

Great interview but maybe some gaps in the advice where she says 20-30s are once in a lifetime decades. Yes, agreed everything respective to time is once in a lifetime but that doesn’t mean that one needs to spend everything and not take advantage of the compounding with long term benefits. Also FIRE: financial independence should be a goal for everyone and then on achieving that everyone gets automatically retired early cause working for money is optional so one can continue to do the same job, take up other job or even career, or not do any jobs for money.

[@WintWealthYT]

Hey Niranjan, what she means is not that you spend everything. She mentions that even if you can save only minimal amounts that's okay, as long as you're doing something. What's important is that you don't get so obsessed with saving that you forget to live :)

[@NiranjanBendre]

@@WintWealthYT thanks for explaining. Some clarity might be needed or maybe it is lack of my understanding. There is no need for obsessions but neither is a lackluster approach to savings/investment. A well budgeted life where a specific percentage is going in savings/investments, specific percentage in “need” expenses and specific percentages in “want” expenses are much needed.

[@dishaparwanda3255]

Fabuloussssss session!!!! Soo informative!! Very interesting, loved it!

[@SaintYvess]

5% annual return is easily thrown out there for illustrative purposes, but not so easy to achieve! Where do i put $500k cash reserve to keep cash safe for next 4 years? My concern is insolvency

[@Emily-le2op]

I think you're better off with majority investment in S&P500 and uprising equities in view of retirement cos they always outperform. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire

[@Porterfield11]

When it comes to situations like this, it’s wrong to engage in a single option. I suggest diversifying into various options with high performance coupled with the experience and aid of a finance Pro will generate bigger dividends and balance volatility.Thankfully, I can attest to the success of this approach seeing my portfolio of $330k grow by 85% in 3 years.

[@SlParkerlee]

Choosing one course of action under circumstances such as these is incorrect. I believe that investing in a variety of high-performing alternatives and diversifying your portfolio with the knowledge and assistance of a finance professional will increase dividends and reduce volatility.Fortunately, I can verify the effectiveness of this strategy because, in just three years, my $330,000 portfolio increased by 85%.

[@BINDERANDREAULRIKE]

When it comes to situations like this, it’s wrong to engage in a single option. I suggest diversifying into various options with high performance coupled with the experience and aid of a finance Pro will generate bigger dividends and balance volatility.Thankfully, I can attest to the success of this approach seeing my portfolio of $330k grow by 85% in 3 years.

[@biankabrodeur01]

Choosing one course of action under circumstances such as these is incorrect. I believe that investing in a variety of high-performing alternatives and diversifying your portfolio with the knowledge and assistance of a finance professional will increase dividends and reduce volatility.Fortunately, I can verify the effectiveness of this strategy because, in just three years, my $330,000 portfolio increased by 85%.

[@ravihanda]

Can someone please explain the math used in this video for FIRE target. What I understood: If you are spending 20 lakh a year at 40, it would be 65 lakh a year at 60. You need 65*26 = 17 crores to retire. So is this the FIRE target @ 40?

[@sunmoon4520]

Just reduce your expenses dude...else your math is correct

[@kamalakannan39]

Yes.

[@Mightyteamplayer2024]

No! That’s the corpus you need at 60. What you need at 40 is the present value of that future value with rate of return you expect.

[@WintWealthYT]

Hi Ravi, the expenses you consider must only be your essentials and those expenses that are expected to continue even after 60. So things like child's education and other one time expenses will not be considered. The expense estimate that comes up after removing those is to be extrapolated to age 60 and then made 26x. Also, you do not have to reach this corpus at 40. The age linked milestone she mentions is basis income, in which a person should have a corpus worth 3x their income at 40 and growing upto 8x at 60.

[@logicsandtrolls3616]

nahi re pagle. as per sebi calculator you need 20cr for 26x.

[@SachinSharma-ro1me]

Mam has great knowledge intelligence and wisdom 👏👏

[@ParthaGhosh-bc2uc]

Success is when you're self employed or employed on your own terms. Indian IT companies take ppl for granted, finally when they find the right candidate, he shows them the middle finger and runs off to the West or opens his startup..

[@bhaveshbhide]

the sound quality on this video is top notch!

[@santosh1502]

I thoroughly enjoyed this interview. A lot of real life experiences shared will always resonate with the audience.

[@deepalibrahmankar4566]

Such a mature woman with so much clarity. Great podcast esp for women.

[@akaxe77]

Any link to an inflation calculator? More importantly, any specific guidance on how to benchmark the rate of inflation in a 2024, rich / upper middle class context? Official data is more food price indexed than semi luxury lifestyle oriented.