Home Loan of 1 CRORE: Can They Retire at 40?
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- čas přidán 14. 05. 2024
- Prakash and Pranati are hoping to retire from corproate by the age of 40, but they do not have their finances sorted. So we brought in Vatsal, our CEO's financial advisor, to help them with their financial planning. Will he be able to help this couple navigate their goals of buying a BMW luxury car, international travel and shopping to still be able to retire early?
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Reach out to Vatsal on his website: thefinancialist.co.in/ - Zábava
![How These Couples Travel The World? [Budget Guide Inside]](http://i.ytimg.com/vi/0TEDCB-7bQA/mqdefault.jpg)
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Please start this as a service for a fee. I don’t necessarily want to broadcast my finances. Instead I would compensate you for your time. Think over this!❤
The guy is a vice president in financial services company but doesn't know how to manage his own finances 😢 Strange...
Yeah strange lol
That's normal!
So... system is screwed up 😂. Our money is also not safe with these companies 😂
Exactly 😂
He can handle crores but not lakhs
😢 Indeed sorry state.. VP FINANCE..
This is borderline without even considering the possibility of having kid(s).
Spot on, kids are super expensive
@@vkchaitanya2003lol a poor family also raises 3-4 kids...stop your bullshit
Reading comments was more fun than watching video 😅
I have worked in wells fargo, and i can vouch that there are many such characters there earning 30-40 lakhs. The bmw is all about peer pressure. Just because he is an AVP in a bank, dont expect common sense in financial decision-making. This is a typical Indian show bazi mentality. No amount of financial planning will help guys like these who live to show off their status. The girl seemed more rational, so hopefully, she will steer them away from bankruptcy.
Agree and disagree. I think girl is equally delusional to say she wants to have 1L additional money(which after 10y is more than or close to 2L) with post retirement passive income apart from regular monthly expenses. Which is the major reason their retirement goal jumped to unbelievable total.
Such guys are earning 80-85LPA!
There is definitely a bubble 😂
😂
Straight out of "big short" 😂
😂
Things don't add up, only 75-80 PA income and only savings of 45 lakhs. Am I missing something 🤯
😂😂😂 patak ke le liye
15 lakhs for interiors of a 1.3 crore house is too less. A modest kitchen will cost 5 lakhs!
No it's not less, it's moderate, we can keep up with 15L interiors for a 1.3Cr 🏠
@@thecrypticmystic28 Too cheap interior for such an expensive house. It will be minimum 25+.
Delusion at its peak😂 Bro u wont be able to retire by 50 with those high expectations..let alone 40 🤪
Even at 60😂
and they havent thought of kids......man.....push it to 60 bhai jitna expectations hai
Even at 70
Some people live for the society! This guy is one of them! Common sense is not so common!😊
Yearly earnings is 75-80L but they still cant figure out a way to retire in 10 yrs ? Sounds funny
Impractical guy, his wife is still connected to reality, I don't know in which reality that guy is living in.
Seriously
Correct
Stupid family, random habits and high expenses
It’s such a delusion which only can be learned in MLM seminars 😂😂
Exactly
Wells fargo really need to reconsider their hiring process
😂😂
Couldn’t agree more!
How do you know that this guy works in Wells Fargo?
By his position title VP & financial services company
🤓🤓
My first thought: Itna kamate hain fir bhi itne delusional hain ye 😂🤦
So true
Sarkar le jati hai bhai pehle kama ke dekho tax pata chalega
Yr kitna bhi tax bharna pade, earning per month 3-3.5L in hand is not a joke but this man seems very optimistic about retirement at 40.
I am also 31 and month ki combined income toh humari bhi ballpark 2 - 2.25 L (in hand) per month hai but fir bhi humlog retirement ka nhi soch rhe before 50.
My point being that ye bhai financial services ki company mein hai lekin iske baaton se lag rha ki ye apni hi kisi duniya mein hi ji raha hai.
Itna kamate h tabhi to options zyda h unke paas, hence delusional. Raheeson ki tarah socho! 😄
@rohitkumarsingh5693 he clearly said he wants to retire from current job... Matlab Retire from gulami and wants to do something of his own. What's wrong in that?? Angrej Chale gaye per tum jaise abhi gulami nai chod paa rahe ho🙆 Woh atleast himaat ker soch toh raha hai.. U stay happy building empire for your boss.
Dude looks like a school kid but gave brilliant advice to these delusional people.
Amazing video, i really like the fin planner. He tried so hard to make it work for them. Kudos to wint wealth.
Also, kudos to the couple for being so candid, learning and sharing the story.
Would love to see similar fin planning videos in future.
Cheers
Totally agree, the couple were very understanding & open towards change
Goals are good, but there's a difference between aggressive goals and realistic goals. Going through the process of planning makes the goals realistic. Also, retirement just means that I wouldn't be working for money anymore and free up time to work on my passion (which Ideally should also generate cash flow). People in 20s and early 30s, please plan your finances with utmost accuracy and stick to the process. Starting early is key to financial freedom!
True words brother 🙏🏽
What is senior associate vice president?? 4 levels in a single job title😂
😂😂
Awesome video would love to have Ravi handa with Vatsal to see how already retired is doing correct and can improve. I could join to listen to them
earning 5 lakhs a month and still clueless. I would say that's greed. The more you earn the more greedy you become. That guy is immature and rubbish. Atleast his wife is making sense of having a stable income. The worst part is a school boy look guy is the financial advisor for these guys who has not seen and faced market situation of early and late 2000's and stagnation of markets in 90's.
is it easy to make 5 lakhs a month in India?
@@teslamodel3201 I said immature in managing his finances not his professional skills.
@@teslamodel3201yes I make more than that 😂
he is sc/st probably
@@Abdulrashid22067no point of being sc and st in private sector….. move out of your gov quota mindset 😂
Great video. Proud of them to for sharing personal info. in public forum.
Ideal video capturing the ground reality and unexpected discoveries 😰.
Very good Eye Opener interview for the younger lot aged between 20 to 40. Kudos to the whole team, thanks for bringing them to reality.Sad to see many people are having this lifestyle, living in dreamland and they find bankrupt in retirement, in fact in deep debt that they go in depression and take their lives.
This couple is just burning money at a rapid pace, iam sorry the cafe may not workout as u r not dpending your full time in it, and iam still wondering what does the woman spend on Rs 1L per month, spending on luxury car is a absolute waste of money, if u r hni or uhni then it makes sense, thanks in making them come to reality, god bless them
I refuse to believe this is an average young-couple approach towards finances. But if this is, we need to have more education done across the populace by folks like Wint Wealth.
These guys are the brink of bankruptcy if they lose their high paying job and are so delusional on all the things that they do 😂😂
We need these kind of stupid podcasts to watch and enjoy 😂😂
They do not seem to have plan B if the job is lost.
Ha ha well said
I echo your assessment about the couple but not about the podcast. This podcast is anything but stupid. It basically puts to light the tight rope that people like this (those that seem to be rich and leading a luxurious lifestyle) walk and how close they are to losing control of things.
They don't even understand concept of emergency fund.
They have fd and rd
Unfortunate.... No idea sbout financial Freedom.
Retirement @40 ..... They have no clue ...😅
They are just excited to be on the screen for the interview.
The couple's ignorance towards basic financial terms is actually shocking...
This guy gives me headache. He want's to retire at 40 🤣but don't want to let go his dream of car, his house, his lifestyle.
Wealth creation is an evolutionarily recent positive-sum game. Status is an old zero-sum game. Those attacking wealth creation are often just seeking status.
-Naval Ravikant
The main problem is that we are not taught personal finance early in our life.
I wish the beautiful couple the very best for their future!
these type of series are really valuable according to me like by this way it can help people manage their own finances at the micro level :).
The BMWs and foreign trips are a rich man's concept not a wealthy man's. Wealth is what you don't see!
In order to retire early you need to be wealth and not look rich.
Best of luck!
"The world is a book and those who do not travel read only one page."
St. Augustine
Traveling isn't necessarily a concept of the rich if done responsibly, for the experience and not for status and bragging.
well said 👏💯
@@cbazxy2697 traveling is not going to some places and view, click some photographs for social media. actually traveling is like a guy called "monkey magic" doing by walk, using public transport meet the new people, understanding different cultures & that don't need lot of money.
@@cbazxy2697 the way they told us obviously for show-off, 2 foreign trips every yr and again they'll go for luxury so ur quote of "experience" doesn't apply to them 🙃
@@cbazxy2697I travel full time abroad. My expenses are around 80-120k a month. If you travel for cheap you can do lower. I mostly backpack. I don’t have rent and other things. These people can easily travel the world full time if they worked remotely. travel will teach you so many many things that I realised to step away from the rat race as people have some amazing lives in rural places and in some specific countries.
I earn less than him and still i got to manage mutual fund and stocks worth 50 lakhs already and for sure in next 12 month i can add another 20-35 lakhs.
Interestingly my month expense is practically 20k and 30k with the kid. I do have my own house.
Interesting.
How is your monthly expense so less 20-30k per month?
What designation are you?
My monthly expenses are around 1.2 l including house rent and car loan . I have saved around 70 L in equity and 30 L in debt (PF and PPF).
Not sure how these guys are spending lakhs of rupees excluding EMI's and have so less savings .
Podcast guy is completely dumb . Why do you need 8 crore for basic expenses for lifetime ?
8 crore will give around 7 L per month just with 10 percent annual return and keeping principle intact. Not sure who will have these kind of basic expenses even after 10 years .
Inflating numbers and giving unrealistic retirement numbers is a trend nowadays. People needs to stop this .
Love this video! Love the energy and piercing number based ammunition of the nerdy financial planner! 😊
This video is proof that high paying jobs are not always got by people with high intelligence.
Applies specifically here coz the guys works in fintech.
Even after stating the 16 cr reitrment figure, and the advisor proposing to lengthen the emi, the guy is like , then we cant retire by 40 na??!!!
Arey, even if u close the home loan, you cant retire by 40 with this kind of expenses.
Bang on! I can see life style inflation(travel, shopping and expensive hobbies) of this couple is major hurdle for thier financial freedom journey.
Bang on!!
It's easy to sit and insult, but the reality is that they have in demand skills relevant to their industry to be paid a large salary .
We can't be perfect in all aspects, they are putting in efforts to not only learn but educate viewers.
Never ever retire be your own boss that should be the goal
Great advice
what have you done to be your own boss
@@shaanigi I worked hard bought properties rented out now enjoying
That is what is retirement. being our own boss.
Great information both for the us and for the couple, more power to them and their goals!
i'm wondering after making around 70LPA how my man still bothering to get retired at the age of 40
Whats ur monthly in hand ?
70 lakh is combined income
Thank you Wint wealth for such a wonderful video … I appreciate the couple for sharing their personal finance story for many others to learn from.
Other viewers, pls don’t write offending comments … it’s unnecessary for others to sit n judge these guys .. so learn or move on to other videos …
I should be able to do some thing is very vague one should have atleast a direction what he will do with time one gets after retirement.
That audit guy simply saying that cut down your luxury expenses,work on your financial knowledge,dont try to retire till 60....😂 Ironically this is what all the middle classes are doing
I know people making 2X their salaries yet having the brain to realise that lifestyle inflation is real and one can not overlook it if he/she is planning on retirement!
Retire @ 15
this will trend in coming decades...
Sip starts from pregnancy announcement day😂
Such a lovely couple! I adore Prakash's bubbly persona. Wishing them all the best and hoping they prioritize their financial well-being over mindless luxuries. By adjusting their spending habits to save approximately 70% of their take-home earnings and investing in equity-linked vehicles, they can strive towards achieving financial freedom by their early 40s.
Need some more details about Vatsal. He explained them very well.
Hi Mohit, his company's website link is in the description.
I hope for their sake that this bubble doesn’t burst and they are able to keep these high paying jobs.
Agree, it is important to have a financial plan. However, it is not easy to keep investing a certain amount each month for a long period of time, given many ad hoc expenses that come our way. The key to success in achieving financial goals is commitment and discipline.
How do you make 3-4L a month and still struggle to save consistently?
You ought to have an emergency fund for such adhoc expenses.
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.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
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.
*@disney-hefner* That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
"Gertrude Margaret Quinto" is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Insightful... I was curious about her, so I looked her up online. I discovered her website, and I must say that she seems knowledgeable. I sent her an email outlining my goals. I appreciate you sharing.
Bad advice - pay your liabilities out first - don’t extend loans to 30 years - the interest you end up paying at the current rate of interest will eat into your life - keep life simple - no liabilities - simple life - home food - life is good
*Excellent! I really do have a question. For some of us newbie in trading looking for where to start copy trading with less than $10,000 or above to trade and make huge profit. How would you recommend we enter into trading as a newbie? To avoid losing money emotionally. I would greatly appreciate any suggestions.*
I would suggest to reach out to Evie and start copy trading. what impresses me most about Evie is how well she explains basic concept of winning before actually trading for you. And letting you use her trade signals. And she will also teach you how to trade as she trade for you. This goes a long way to ensure winning trades
Please I'm a beginner where can someone reach Evie?
She's Mostly on Telegrams, Using The User Name.
@Evie180....
Wow! I'm not shocked that expert Evie name was mentioned. she's such a genuine personality!!, sincerely speaking. I learn and earn through her and I will continue to trade and stick to her guides.
I hope this couple is reading the comments of this video.
And realise their mistakes
Its an eye-opening video, this couple are earning very well but their needs and wants are very high that they are still confused. This proves that to lead a satisfied and peaceful life managing your greed is much more important than earning loads of money.
WTF is a senior assistant VP!
Dude must be working for bank or a NBFC, they give such designations.
This is hilarious. A couple earning 4.5L take home salary is taking advice from a guy who earns much less 😂😂😂😂
you dont have idea how much financial planners earn lol beacaue of such people only
@@Change_makers_ so better to become a financial planner then ;)
This is not right comparison. Earning and planning are 2 different things. Most CEOs are not founders but manage big companies
one thing I would tell you is, cafe doesn't run long term as expected unless its in Airport or high-fi place. Famous coffee places too shut down because of less demand. You should be thinking more rationally about ur Passion not just in one sided way. Have other businesses too as backup.
Thanks for the continuous update! I am super excited about how my stock investment is going so far, making over $10,000 weekly is an amazing gain 😁
that is stirring! How do you manage to achieve that weekly please. I watch lot of CZcams videos on learning but I keep losing
I used Robert Layla's beginners strategies due to my full time job it's the best decision I've made in the last 2years
That's mind blowing I always say it as a new inventor Never claim to know: Ask questions and it's best you work with a financial advisor
Making money is all about investing in the right way most investment failures and losses usually happen when you invest without a proper guide.
I know Layla, she has really set the standard for others to follow, we love her here in Ahmedabad as she has been really helpful and changed lots of lives. The very first time we tried, we invested$2000 and after a week, we received$10,500, that really helped us a lot to pay off our bills
Kudos for them to come out & be exposed!.. Take the learnings, thank them for giving us an example and move on!!.. This might be their crucible moment & they might turn it around better than most of us here.
Wint may need to blur guest's faces or let them wear masks because people will be less likely to be guests when they know they are gonna be roasted in the comments.
Either that, or Wint should moderate the comments better and not allow unnecessary trolling. Very few from the comments will be willing to put themselves up to scrutiny like this couple did.
@@CoachPradyum that may backfire, engagement is good for the algorithm.
More the controversial comments, more the engagement.
@@cbazxy2697 There definitely is a middle ground here. Ramit does it effectively on his channel when someone steps out of line, and this allows for better, constructive comments on the videos. If Wint allows trolls to takeover, then there future participants could be impacted by this.
@@CoachPradyum if that works out then its a win win for everyone
The guy has a next level humour and sarcasm.....
Two comments: 1. Retirement does not mean no earning. One should look for ways to contribute and keep earning atleast to cover survival expenses. 2. The Cafe investment was not accounted for. If it works, this could be the major funder of lifestyle.
Agreed and that's what the couple intend to do as well. They wants to retire from corporate & focus on their passion, which is their business. And the money coming in from this business is what will be supporting their expenses during the semi-retired phase ie, 40-60 years of age.
And the people who you are interviewing are top 1% of people
Good to see Vatsal in video
Please post more videos like this❤
Someone should make a video on why we should retire on 40.
Financial disaster
Can we also have content from people who are earning even 70k-80k a month? Or is it a conscious attempt to only reach out to HNW/HIG individuals?
While we can definitely take a leaf out of the book of such people, their financial planning/ goals feels somewhat distant and unrelatable.
The ideal range should be 50-60 age , no way they are gonna retire at 40.
My first thought: Do you have a child , Do you plan to educate them ,Are you married ?, Car enthusiast --> Please ride one car a day with ola.
I think they need to learn about "SMART" goal setting.
If you want to retire by 40, you need to save, cut down on expenses and invest aggressively. They are doing neither of it. Looks difficult but nothing is impossible. Best wishes to the couple!!
They can save entire salary for next 5 months
and live in a tier 2 city, and never have to work again. Simple
The frequent laughter from that guy sounded crazy.
I want to retire by 40. Ha ha ha
I want a BMW. Ha ha ha
I have a home loan and don't save much. Ha ha ha.
Does any of this stuff sound funny to anyone??
This video makes the people proud who earn much less but still manage to save invest a lot.. Financial literacy a basic life skill
If many people in 20s-30s want to retire so soon and rely on their stock market investment, how would companies survive?If companies can't survive then what returns u get. Early retirement 20s-30s-is not good idea for our country.
What I feel is instead of retiring you get a kind of independence where companies cannot screw your happiness anymore post 40... I can work on my terms i.e 8 hrs a day and not more... They cannot force me to work more...
Someone else takes their job, just like when a employee retires at 60.
Even if economy is severely affected it won't atleast happen in their life time considering the huge population below retirement age.
There is enough talent who are doing odd jobs. They'll fill the gaps. Luckily our country is going to grow for next 50 years easily
This is chosen by upper middle class who are earning high and without liabilities from parents . There are enough ppl in the country willing to fill these jobs ie vast. Majority. And btw most ppl can’t retire early due to lifestyle creep. So fire couples will still be a minority
The guy who was calculating did not consider them moving in their house and saving the rent.
No offense
what about water problem in Bangalore
Did I miss something ? I didn't see any inflation considered into the computation right ?
True
i think he accounted for inflation while computing the 16Cr figure.
Nowadays many people aspirations are really very high compared to income.
This is the problem today, delusion and also people buying houses and big cars just coz everyone on social media is putting up pics.
Even without checking your own finances.
The annual pay of 80-85 lakhs.. they didnt say if it was pre or post tax.. makes a lot of difference to the available income on hand, expenses, interests etc.... I think one question to ask is what is the income left on hand post the taxes...
He said in hand 4.5L a month in the video
Emergency Fund can be in an FD, She said it and nobody supported that.
I see a lot of folks slamming the bloke, credit to him for being so transparent . He clearly wants to pivot to making a massive change. Most folks don’t really know the difference between a want and need and categorise spends. Like they say better late than never.
They don’t want to compromise on anything but want to retire at 40. It’s tough
I fail to understand the fascination of retirement at 40. All the calculations are considering best case scenario which doesn't work all the time.
Given their level of financial and common sense, I believe they might retire comfortably by 75.
I feel if they want to retire at 40 seriously, they need to stop spending on luxurious things. Normal car instead of BMW, normal vacations instead of travelling 2 foreign countries in a year. Strict savings. After all this , they need an active income post FIRE 🔥😊
They have high lifestyle inflation even higher goals of retiring @ 40, yet cant compromise or defer buying Cars/1 Cr Home nor cut down on expense and to top it all he is Sr Asst VP in a Financial Services Company ....None of this makes any sense 😆
Everything set aside, the recurring use of 'I & me' in the video was extremely shocking.
Hope, before changing anything else they should start "we". & the uphill task of financial freedom can be sorted..!
This video is a wake up call for the guy i guess
Nicely explained
Major red flags🚩🚩🚩
1. Car obsession
2. 1 lakh spend for month
3. Most of this plan is without kids
4. No plan, atleast vague plan for what he wants to do after 40
Family planning ka pata nahi, Luxury car is the uncompromising "need ", international vacation is the "necessity", insurance to employer dekhega, life style to maintene karni hogi with 1L monthly expenditure though retiring at 40 is a must!!!!!
Now this pretty much explains why the future of financial planner is very bright in our country! Even the ones in finance domain, claiming yearly income of 60-70L are sounding clueless about personal finance!!! 😂😂😂😂😂
Aree darshan ji yee hey aj ki so called yuva 🤡 jinhe kam karne se dar lagta hey mehnat se bachte hey , so called modern people
This was such a good video. I wish i could get this
it is important to buy BMW bike, BMW car, Trvel to 2 foreign countries because my other bankrupt friends are doing the same thing and i will look bad if i don't
Wealth creation is all about temperament. You need to make the right spending and investing choices. Unfortunately, this high earning couple don't have the right temperament for wealth creation. A large part of their income is held up in debt and other part is in discretionary expenses. They seem to have dreams only to spend more money. This is the story of many young couples who earn high and spend higher. With their habits, the goal of retiring at 40 is pure Chutzpah. It will be hard for them to retire young as when their income dries up, they'll find it hard to sustain their lifestyle.
I retired at 43 ... Relocated to native... 25k enough...
Some ppl have had such childhoods and current peer pressure leading to being fixated on buying BMWs. It is sad ik, but cut him some slack
Imagine what Vastal would be accumulating at his 40!
Why he wants retire in Bangalore
Definitely over 9.5
Our combined income post tax & deduction is 3.3 l/mo (excluding 6l of yearly bonus). Currently both of us are 30. Started career at 24. We both have individually built our home(primary home). Would plan for next home in next 3 years. Current living expense in blore is 35k (11k 1bhk rent and sending money back home). My point being, even i am not thinking of retirement by 40!!. High earner doesnt mean i ll have lot of options. We live a frugal life while spending on experiences and vacations(covered by variable pay). No offence but the guy is dillusional at the next level.
don't forget to live the life bro. save, invest and do all the good things, but give your body and mind that comfort that fuels it for future. relax, spend a little bit and continue the grind. (from an slightly more experience bro, who was once at a similar position)
@@TheGsinghg haha! True. I agree. Hence we spend our entire bonus on travels.
Avishekh u r lucky to have such a gd life partner nahito most wemen will spend more than saving
One thing i should definitely say, i have far more knowledge in financial planning than this corporate majdoor who is earning 80 Lakhs per annum 😂
By the way I am just 22
if only one could live on excel, all these numbers would make sense