10 Financial Mistakes by Salaried Class

Sdílet
Vložit
  • čas přidán 21. 06. 2024
  • ►With India's medical inflation rate at a whopping 14%, having comprehensive health & life insurance is critical. You can talk to Ditto's insurance experts for free- bit.ly/3MDKeYM
    #dittoinsurance
    _______________________________________________________
    ►My new stock market course starts in October 2022 [SEATS FILLING FAST]:
    wisdomhatch.com/finance/
    _______________________________________________________
    ►Subscribe to my newsletter:
    wisdomhatch.com/newsletter/
    ______________________________________________________
    Salaried-class is hardworking, but they miss out on these essential financial lessons.
    And that is how they lose out on money.
    Make sure you don't do these mistakes.
    Watch the video till the end to understand :)
    *********************
    Sign up for my Newsletter ► wisdomhatch.com/newsletter/
    Linkedin► / akshatshrivastavainsead
    Twitter► / akshat_world
    Instagram► / akshat.world
    ***********************
    Attributions:
    Stock videos from Pixabay and Pexels
    Logos: Wikipedia Commons
    Video Editor: Ayushman Khare

Komentáře • 1,2K

  • @AkshatZayn
    @AkshatZayn  Před rokem +82

    If you enjoyed the video, do consider subscribing :) Also, here is the video on: How to take loans properly: czcams.com/video/6J_yEXN2fOY/video.html
    ►Subscribe to my newsletter:
    wisdomhatch.com/newsletter/
    _______________________________________________________
    ►My new stock market course starts in October 2022 [SEATS FILLING FAST]:
    wisdomhatch.com/finance/
    _______________________________________________________
    ►With India's medical inflation rate at a whopping 14%, having comprehensive health & life insurance is critical. You can talk to Ditto's insurance experts for free- bit.ly/3MDKeYM
    #dittoinsurance

    • @kocengineering769
      @kocengineering769 Před rokem +1

      Hello
      Sir, yes it is just like people who are extremely thin and others who are bigger, after eating same quantity of food.
      Money must do workout sir or else it will rust
      Obviously like humans many young generation who just graduated from University are jobless in India and became loafers
      So they will NEVER EVER have interest to do job in future also
      I have given this example for understanding purpose
      (NOTE - "Kindly this is for educational purposes", Not to insult anyone)
      People have only one work to criticize someone all the time
      Sorry but people kindly understand and grow up plz 🙏
      Thanks Akshat sir

    • @np4365
      @np4365 Před rokem

      Can you pls ask your editor to do a spell check of all the highlights that are shown on screen….I believe your videos might be consumed by audiences World over and incorrect spellings look like an eye sore…hope you take my suggestion in the right spirit

    • @Krishabh_Agrawal
      @Krishabh_Agrawal Před rokem

      Please take realistic examples , if someone earns 25k per month, he comes under the top 10% in the country.

    • @mastroes
      @mastroes Před rokem +1

      Please do not mix term plan and hospital expenses.... NO TERM PLAN pays hospital expenses

    • @sssaurabh15
      @sssaurabh15 Před rokem +2

      Hi Akshat, please can you make a video on your last point around GST saving with a business?

  • @PhilSommer2
    @PhilSommer2 Před 10 měsíci +308

    Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

    • @blessingpaul5484
      @blessingpaul5484 Před 10 měsíci

      That’s crazy, I’m just doing everything wrong with my portfolio.

    • @brittanynicolette9473
      @brittanynicolette9473 Před 10 měsíci

      The US-Stock Mrkt had been on it’s longest bull-run in history, so the mass hysteria and panic is relatable considering we’re not accustomed to such troubled mrkts, but there are avenues lurking around if you know where to look. My wife and I are retiring this year with over $7,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year..

    • @alicebenard5713
      @alicebenard5713 Před 10 měsíci

      Patience patience patience. It's a cycle.... a sucky point in the cycle, but a cycle nonetheless..

    • @SophiaBint-wj8wn
      @SophiaBint-wj8wn Před 10 měsíci

      Hello, I am new when it comes to investing and i would really appreciate if I could get some tips about where it is worth to invest in (ETFs, Stocks, Growth stocks, Dividend stock etc.)

    • @SophiaBint-wj8wn
      @SophiaBint-wj8wn Před 10 měsíci

      Please do you mind referring me to your financial analyst?

  • @simonbad
    @simonbad Před rokem +276

    Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.

    • @Erinmills98
      @Erinmills98 Před rokem +1

      @@IrenaDolinsek Who is your financial coach, do you mind hooking me up?

    • @Erinmills98
      @Erinmills98 Před rokem +1

      @@IrenaDolinsek I did check her out, I see why you said she's probably booked up, her creds/resumé is topnotch. I booked a consultation with her regardless...

    • @Sanatan-Dharma-EK
      @Sanatan-Dharma-EK Před 11 měsíci +1

      Spam😂😂😂😂

  • @marianparker7502
    @marianparker7502 Před rokem +374

    It is what it is! During this austere times, protecting one's capital is much more important than making money. Basically because if one loses one's capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over

    • @Alejandracamacho357
      @Alejandracamacho357 Před rokem +9

      You need to invest in order to protect your hard-earned funds from inflation. You need to invest now because your money is more valuable today than it will be in a year

    • @Patriciacraig599
      @Patriciacraig599 Před rokem +6

      @@Alejandracamacho357 Bottom-line is that inflation is actually above 10% whilst interest rates is sub 2%. Cash is still trash.

    • @wiebeplatt4749
      @wiebeplatt4749 Před rokem +5

      @@Patriciacraig599 The time value of money means today $10,000 is worth more than it will be in the future. Investing in the stock market is the surest way of protecting your money from inflation and the best way to build wealth. The U.S stock market is the world's biggest wealth creator which always outperforms most economic realities in the long term.

    • @instinctively_awesome8283
      @instinctively_awesome8283 Před rokem +7

      @@wiebeplatt4749 You can't really know the full risk rate except you are a Pro. Reason I settled for advisory and guide from a stocks guru, “Susan Agnes Hancock”. Never been the same again with my holdings

    • @Patriciacraig599
      @Patriciacraig599 Před rokem +5

      @@instinctively_awesome8283 The crazy part is that advisors are probably outperforming the market and raising good returns. I will give this Susan a look up, lucky i stumbled on this thread.

  • @pavankumarsa2006
    @pavankumarsa2006 Před rokem +360

    One of the worst scenario is ....even the highly graduates of our country is lacking this type of basic financial knowledge about money and investment..kudos to you for simplifying the overcomplexed subject into simple understandable words ...

    • @pavankumarsa2006
      @pavankumarsa2006 Před rokem +5

      @@007_Sun_Tzu i have seen my friends and family members who have done double degree like mba and staying away from markets and having poor financial knowledge ...hope you get it!

    • @AmritenduRana31082000
      @AmritenduRana31082000 Před rokem +4

      @@pavankumarsa2006 so you think degrees determine how smart someone is ? 😂.You give money ,you get degrees as much as you want.Learning and education is far from the education system of today's.

    • @pavankumarsa2006
      @pavankumarsa2006 Před rokem +5

      @@AmritenduRana31082000 brother i know you are smart enough to be a financial litrate ....I know in India you can pay as much as you want and can get degree .....but I'm not talking about those students..I'm talking about those students who have worked hard in studies and also now working in some good companies ..but still they lack basic knowledge of how to manage and grow money ....even the working employess who are into stock market is very less in India now ...I'm talking about these people . I have seen a large number of students from my class who are well placed but spending it senselessly and being not aware of stock market ....so hope you get it !

    • @Achintyanath
      @Achintyanath Před rokem

      @@AmritenduRana31082000 Yes we should shut down all universities and schools. Education is useless

    • @ronmiller3741
      @ronmiller3741 Před rokem +2

      Most iit iim graduates are running the show without u even knowing. Now your roadside private college degree doesn’t really matter. Its rude and bitter but truth.

  • @zeeshanjamal16
    @zeeshanjamal16 Před rokem +166

    He is not bankrupt. Please watch his interview. He deposited large chunk of his money to get fixed income monthly and with some part of it he had done risky investments which was drowned. Dont blame anyone just like that.

    • @thestoryteller215
      @thestoryteller215 Před rokem

      @akshat724 yes chodu who r u

    • @jotaro9664
      @jotaro9664 Před rokem +1

      Ok

    • @gruty728
      @gruty728 Před rokem +32

      Many of his relatives were asking money on daily basic so he spread that rumour that he has gone bankrupt. He won 1 crore, he is smart. He is enjoying life !!

    • @shoebb.9698
      @shoebb.9698 Před rokem

      He went bankrupt considering the money he is left with

    • @SelvaKumar_1992
      @SelvaKumar_1992 Před rokem

      ​@@shoebb.9698 What? 😂

  • @kanimozhi2703
    @kanimozhi2703 Před rokem +477

    1) Insurance
    2) Having assets that are not intervened by the govt. Like Real estate and gold
    3) Rate at which your money should grow
    4) Not investing in FD when market falls
    5) Money will lose their value
    6) Not taking a loan
    7) Not knowing the cash flow
    8) Trusting govt schemes more
    9) Not investing on one's own
    10) Start a business
    11) No LIC

  • @domcity11
    @domcity11 Před rokem +4

    Appreciate your kind and open nature to put video editor name as well.
    Small action but this definitely encourages the person as well to give his best.

  • @Akuhire
    @Akuhire Před rokem +33

    Hi akshat, your video quality/editing is far better than most of the other finance related youtubers, today's was outstanding...may the force be with you🎉👍💐

  • @FunnyTanni
    @FunnyTanni Před rokem +6

    You are a mind reader. Exactly the questions that come to my mind. Seriously, the way you explain is mind blowing. Very well explained like always..

  • @prasiddhanarayansaurabh9239

    Not undermining the content of your video, but the landscapes behind you provide me more motivation!

  • @handle4singhyoutube
    @handle4singhyoutube Před rokem +16

    Thank you soo much. Finally a sensible youtuber, telling people the use of Fixed deposits. They are wonderful for emergency use.

  • @rajubabub1229
    @rajubabub1229 Před rokem +21

    Thank you Akshat for imparting the basic but necessary financial education .As regards stocks, as you said it is very true that it is very important to know not only the Entry price but also , more importantly the Exit price at the time of entry itself .

  • @shubhojitghosh2960
    @shubhojitghosh2960 Před rokem +6

    Please make more video related to health insurance, taxes,& freelance/business registration.
    Thank you so far for making us aware & more knowledgeable 😌

  • @nazeer225
    @nazeer225 Před rokem +8

    Thank you Akshat. Very nice updates covered. You cover many topics in short time. And always love to watch your videos.
    Appreciate efforts put for creating quality content.
    Thank you.

  • @arvanbirsingh4870
    @arvanbirsingh4870 Před rokem +3

    Hey Akshat,
    This is the longest video i have ever seen in finance category, everytime i thought to skip the video, my mind told me there is something more i should watch. I must say your content is valuable and helpfull and you have amazing story telling skill.
    Thank you for this video

  • @srikant1449
    @srikant1449 Před rokem +4

    Points are fantastic...Happy Diwali Akshat..Thanks for helping me and will watch the loan video..

  • @mohamedhasan6264
    @mohamedhasan6264 Před rokem +54

    Since I graduated from college, I've always wanted to be financially free and no like other people always whining about their financial situation and blaming everyone else but themselves .. so I took it upon myself to educate myself in this regard .. and I'm already index investing since 2020 till retirement.

  • @rb300tzp
    @rb300tzp Před rokem +4

    Reg SSY, you missed that this scheme is EEE. Simple rate comparison won't work. If you factor in the tax benefit, it would be easily around 9-10%. Long term MF calculation is made at 12%. Considering the risk element, it would be very lucrative for the general public. Rates have been slashed now only. Previously it was around 9.

  • @hemavenkatesh7888
    @hemavenkatesh7888 Před rokem +10

    Hi @Akshat, I love the contents you post on financial which is significantly improving our financial knowledge. Jaap up your good work!!
    Can you pls let know what is the suggested proposition for each type of the investment e.g., FD, stocks, mutual fund etc.,your timely advise can help

  • @deepakravichandran8632
    @deepakravichandran8632 Před 5 měsíci +1

    One of the most eye opening finance videos for salaried class.. this should be part of everyone’s education..we all know why it isn’t..thanks for taking ur time Akshat.

  • @Pratik-sx4bp
    @Pratik-sx4bp Před rokem +20

    Hey Akshat,
    Great informative video as always and superbly delivered as well.
    Would love to listen more on the last point you made which was 'Optimising Taxes ' and all its details like registrating under Gst, how to claim benefits, and etc.
    Keep doing what you do. Cheers 🥂

    • @akshats.656
      @akshats.656 Před rokem

      Thanks for your comment. What’sap me with the number showing above for more information and consultation on profitable investments..

  • @captainsaitama150
    @captainsaitama150 Před rokem +1

    This is valuable information. Everyone should know this. Thanks for uploading and putting out the efforts to make these videos.

  • @motivation2702
    @motivation2702 Před rokem

    Very well explained and presented with conviction and in a composed way. Keep it up 👍

  • @shankaul
    @shankaul Před rokem +6

    Akshat i regularly listen to your logical videos. . very helpful.. could pls help in understanding more about index funding and how can a layman take advantage of it . I am not too sure abouts stocks but keen on Index funding and similar assets..
    Keep up .. all the best

  • @jayaprakashk5582
    @jayaprakashk5582 Před rokem +27

    Appreciate a lot for detailing out all the steps clearly to stop people like us from making these kinda financial mistakes...kudos and hatts off to the work you are doing!!

    • @thechocolatebarfipodcast4209
      @thechocolatebarfipodcast4209 Před rokem

      Source?

    • @hemavenkatesh7888
      @hemavenkatesh7888 Před rokem

      Hi @Akshat, I love the contents you post on financial which is significantly improving our financial knowledge. Jaap up your good work!!
      Can you pls let know what is the suggested proposition for each type of the investment e.g., FD, stocks, mutual fund etc.,

  • @dheerajsharma1036
    @dheerajsharma1036 Před rokem +1

    One detailed practical video on "Asset Portfolio Diversification Rebalancing" as well please

    • @akshat.s4579
      @akshat.s4579 Před rokem

      Thanks for watching and commenting send me a direct msg on what'sapp right away for more investment info and guidance. Thanks

  • @gpanjaneyulu4702
    @gpanjaneyulu4702 Před rokem +1

    superb Sir the best comprehensive explanation summary for regular income class group class.

  • @ADITYAKUMARJ00
    @ADITYAKUMARJ00 Před rokem +4

    1:39 Calculation of Value of 1 Crore after 10/15/20 years
    1/1.07 - 10/15/20 times respectively
    And multiply that figure with 1Crore.
    You will get the value mentioned in the video

  • @iamrohandatta
    @iamrohandatta Před rokem +25

    Hey AKshat, great video! Can you make a video explaining more on your last point on saving taxes by starting a business? I was unaware of this clause and there might be more people unaware of the exact benefits of this. Thanks again!

    • @alapativinodkumar3252
      @alapativinodkumar3252 Před rokem

      @akshat can please make video on Tax saving using GST...

    • @steeldragon410
      @steeldragon410 Před rokem

      Simple...you can claim expenses in a business, but as a salaried employee, you get only a standard deduction, and basic exemption limit to be availed, besides a handful of deductions clubbed under a few sections, subject to statutory limits. Being an independent contractor is far more beneficial from a tax perspective

    • @surendrapalSingh
      @surendrapalSingh Před rokem

      @Akshat...Please make video on tax saving using GST for salaried people (and what they need to do?)

  • @Studentkaksh
    @Studentkaksh Před rokem

    Great knowledge sir
    Thank you

  • @shivchoudhary9714
    @shivchoudhary9714 Před rokem +1

    Thank you @Akshat sir for this another amazing informative video....i watch and learn every time I saw your videos.

  • @peterrobert6222
    @peterrobert6222 Před rokem +285

    • @gloriacrawford516
      @gloriacrawford516 Před rokem

      Adoption on a large scale is coming! More emphasis should be put into day trading as it is less affected by the unpredictable nature of the market.

    • @reubendavid3043
      @reubendavid3043 Před rokem

      Haven't you heard of Madam Carol Ann Mcelroy? She's an experinced broker who has been helping many to make good profits with her trading experience.

    • @orenkarlotte6575
      @orenkarlotte6575 Před rokem

      The wisest thing that should be on every wise individual's list is to invest in different stream of income that don't depend on the government to bring in money especially after the lesson of pandemic hitting

    • @DanielSmith-fg4cu
      @DanielSmith-fg4cu Před rokem

      Ann Mcelroy use a risk management strategy when trading with hard stop losses and clear targets of when to take your profits, she is a true expert when it comes to trading highly recommended.

    • @bridgettwilliams5708
      @bridgettwilliams5708 Před rokem

      I am also growing and accumulating also with Carol Ann Mcelroy. All my bad turned into good.

  • @vijaypimparkar9954
    @vijaypimparkar9954 Před rokem +3

    Hello Akshat.... Very nice and specific explanation. Can you please make video about GST benefits implying Enterprenrship opportunities also awaiting for long lasting wish of Home schooling

  • @Superzx.321
    @Superzx.321 Před rokem

    These are very fundamental and golden points. Thanks for sharing your experience and knowledge.

  • @poloprankster
    @poloprankster Před rokem

    My god, you are so eloquent and clear. Thank you for your lucidity.

  • @kaushanichanda2583
    @kaushanichanda2583 Před rokem +3

    These kind of financial education about economy and finance should be a mainstream media topic but unfortunately they're busy with debates on not so important matters. Thank you for making such wonderful videos and educating us.

    • @akshats4699
      @akshats4699 Před rokem

      Appreciate your comment ☝️whasap the number above for more tips and guidance on profitable investment...
      You can join our VIP offers❤

    • @alurdunbinbotros2730
      @alurdunbinbotros2730 Před rokem

      Yes, I also believe the media should share investment tips. All they do is share news, but who needs to know news!

    • @kaushanichanda2583
      @kaushanichanda2583 Před rokem +1

      @@alurdunbinbotros2730 sorry if I offended you but my point was media here in India not only show news but also conduct debate which ultimately doesn't bring about any solution.

  • @matpa089
    @matpa089 Před rokem +8

    Turning 1 Crore into 10 Lakhs -- this is what most of the salaried class investors are doing in the Stock Market ... telling from my 25 years experience ..

  • @PrachiNaik30
    @PrachiNaik30 Před rokem

    Amazing video and very informational with examples! Thank you so much

  • @266sunil
    @266sunil Před rokem +1

    Hi Akshat thanks for the video. Try and do a video on this area in Goa. Looks really nice

  • @vishal.shetty
    @vishal.shetty Před rokem +11

    I am a salaried person and I have done this mistake, I purchase a lot of stocks in covid lockdown and then had to sell them in 5 months only as I was in need of money. But today if I see those stocks have grown by 50-100% and I regret my decision.

  • @samradalpha
    @samradalpha Před rokem +6

    Very important video. For me, index investing, taxation optimization is most important. Can you please share good index investment strategies to increase long term gains?

  • @SusmitSarkar
    @SusmitSarkar Před rokem +1

    The video was really helpful. Thank you for creating it 🙂

  • @shivansh12
    @shivansh12 Před rokem +1

    Hey Akshat,
    Whatever you have talked about is good but more than that I am really impressed with the background in which you have shot this video.. Loving the peace & weather of Goa 😍

  • @Tubeuser-cl2id
    @Tubeuser-cl2id Před rokem +2

    Hello Akshat,
    Thanks for your videos and education on financial literacy.
    Do you also give financial advice on consultation basis ?

  • @shubh5676
    @shubh5676 Před rokem +2

    Hello Akshat Sir, very informative video. As you have said, I am writing down notes of the things you mentioned and also doing a research of the said things on my own.
    Searched for discount factory, to know what it is, and how to plug in those numbers to have a general hands-on with it.
    The thing I came accross is that, the formula used at @2:12 needs to have period number raised to the power of (1+discount rate).
    Also, can you please help in explaining in the terms, discount rate, discount factor. Sharing of links would also suffice.
    Thank you. Loved the video. 😃

  • @surendarpalpandian5308
    @surendarpalpandian5308 Před rokem +1

    Awesome bro. Thank you :)

  • @glenjulien6259
    @glenjulien6259 Před rokem

    thanks akshat
    an eye opener and insightful vid
    keep them coming

  • @aaaa-qf6bw
    @aaaa-qf6bw Před rokem +6

    hey Akshat, I never get bored of watching your inputs. I wish I could have known someone 20yrs back when I first drew my salary. Nevertheless I still apply your inputs even at this age of mine

  • @tushargaur8528
    @tushargaur8528 Před rokem +6

    Thanks sir ji 👍🏻

  • @usharamesh8853
    @usharamesh8853 Před rokem +2

    Thanks Akshat for being a saviour and advisor for younger generation. Keep making such videos. Pls make a video on real estate also as to do we need to invest or stay in flats for a longer span of time or plot independent houses. Thanks

  • @TauroChuck
    @TauroChuck Před rokem +1

    Nice video,simple, comprehensive,not pushy well done

  • @dralidogar7101
    @dralidogar7101 Před rokem +4

    Fully invested for long term (forever) is much much better than having a 10% or 20% fixed deposit for potential future market crash. Rather than doing a previous 3 year view of return for who have invested in recent market crash, why don’t do a 20 year long term analysis of that 20%. Timing the market will give you less return as compared to the Time In The Market, wether you do that with your 20% or your whole 100% portfolio

  • @Escanorsataru
    @Escanorsataru Před rokem +3

    Existing health insurance plans like SBI health insurance which charge around Rs 20,000 per year have specifically listed covid ailments under exclusions meaning they will not bear the medical cost related to covid. Many people are not aware of this when they renew a policy, only when they are in need in a hospital, they will come to know about this.

  • @strudlepeek
    @strudlepeek Před rokem

    Hello @Akshat Shrivastava,
    Thank you for the valuable information, just a quick point.
    if we avoid smaller issues with the electric vehicles, we can purchase one today and also avail TAX exception under 80EEB, please correct me my analysis is incorrect. it also saves fuel purchase and allow us to move more.
    if the above is correct, which category will the electric car as an asset falls under?

  • @abdulkadir4270
    @abdulkadir4270 Před rokem +1

    Appreciate your depth of wisdom...

  • @DhirajChari
    @DhirajChari Před rokem +4

    For a salaried person does freelancing count as moonlighting? Is the GST option valid then?

  • @ronakshastri
    @ronakshastri Před rokem +9

    Hello Akshat ji,
    I think for insurance point you mentioned there one more to note..
    yes we pay less monthly if we start the insurance at age 25 than age 35
    - but do not forget we also save premium for 10 years (25% of total time) that we can invest and earn returns
    - Risk of getting illness or death at this age is also very low..
    - And insurance companies are smarter than us..
    - They charge less on younger age but high on older ages..
    - Plus after the age of 55 to 65 it's less important to have life insurance as by then you might have already earned and secure your dependents financially.
    - After the age of 50 health insurance is more important...

    • @vaishnavik5289
      @vaishnavik5289 Před 9 měsíci

      This is actually a great point. A/c to the video, (iirc)annual premium of 12k was for a 25yr old and 19k was for a 35yr old. In 10years time, (30*19-12*10) < 12*40 (assuming you'll be paying the premium for total of 40yrs starting at the age of 25). So basically, you end up paying 30k more and losing (other) investments opportunities worth 120k in return of a health cover from the age of 25 to 35; in contrast to a person who starts health insurance only after 35.
      I liked you point!

    • @vaishnavik5289
      @vaishnavik5289 Před 9 měsíci

      But, I'd still consider a health insurance if my company doesn't provide one. Small health insurance cover of 300k worth is not a bad idea, who knows what live has in the store esp. With these fast changing times!

  • @chandreshmittal123
    @chandreshmittal123 Před rokem

    Hi akshat! Its nice to hear a change of perspective from ur side!

  • @aanchalsorot146
    @aanchalsorot146 Před rokem

    I had this video in my *watch later* list..but turns out this is a great channel

  • @shrikantraut3864
    @shrikantraut3864 Před rokem +22

    I wish we had an in-depth video about the last point, saving tax with GST.
    That is one point very hard for a salaried person like me to digest.
    How can I save tax on the GST that I have to keep paying everywhere?
    Am I even thinking of this in the right way?

    • @sgmoments9909
      @sgmoments9909 Před rokem +3

      So a salary person CAN NOT AT ALL save any gst taxes mate
      The only way to save on that gst tax is to create a business. This is basically how it goes
      You create a business and you sell stuff suppose you sell something worth Rs 100000 so 100000 plus gst would be 118k for your customer, which means Rs 18k was paid to the govt through you as tax.
      But heres the catch, you can get that Rs 18 back from the govt, there are many ways to do it but to take the example from the video.
      You go ahead and buy an iphone using your gst number, that iphone is of 1 lakh plus 18% gst. Which means 18k is tax. You can now go the govt. Tell them this this iphone is a business expense and i use it for my business related work and you can get your 18k back from them right then and there on the websites like amazon.
      There are multiple other things you can do, maybe take a business loan and save taxes on interest etc.
      But the this is the basic gist of it.
      Also to avail gst benefits your anual business revenue should be more than 20 lakh

    • @saurabh_s1ngh
      @saurabh_s1ngh Před rokem

      @@sgmoments9909 absolutely the game is pretty much rigged for salaried employees,, on the other hand for businesses(especially a small scale) GST input is just a very small thing, they can do plethora of things to save taxes, eg. employee their family members, hide cash transactions etc, while salaried can't do shit,, everything is deducted on source for him(TDS)

    • @sgmoments9909
      @sgmoments9909 Před rokem

      @@saurabh_s1ngh that is how economy works man....i am a salaried guy...but i have created a OPC company for myself, i just use it to show losses for tax rebates....i dont think we should blame the game man...if we know how it works and we still dont take actions to use it for the best, then it is our fault or maybe we are just too lazy to do it tbh

    • @saurabh_s1ngh
      @saurabh_s1ngh Před rokem

      @@sgmoments9909 dude I would like to hear more about this,, bcz as far as I know you can not set off any kind of business losses against salary, or you meant you actually run a business and show only losses and hide profit?

    • @sgmoments9909
      @sgmoments9909 Před rokem

      @@saurabh_s1ngh You can transfer your surplus to your parents under a gift deed and make investments in their name. Basic tax exemption limit for senior citizens is ₹3 lakh, while super senior citizens aged 80 years and above get tax-free income of up to ₹5 lakh
      I wont say a lot but that is just one way of offsetting the profits of your small business and then you can just show all the losses

  • @VivekBisht
    @VivekBisht Před rokem +10

    If you are a salaried employee,
    you have PF add some VPF(8.5% return) in it + PF (1.5 lack) + NPS( 50k/ per year) if you fall in 30% slab and don't even count these just do it and forget it.. I don't know why such simple investment are not advocated, other than that great video.

    • @suryaer127
      @suryaer127 Před rokem

      But regarding NPS won't the value of money depreciate (if possibly)

    • @JatinKumarPatro
      @JatinKumarPatro Před rokem +1

      Nps is only good if one is not disciplined in his own index investing. And due to infinite lockin.

    • @VivekBisht
      @VivekBisht Před rokem +3

      @@JatinKumarPatro that's why I mentioned if you fall in 30% slap then you are actually putting 35k for a value of 50k .. instead of trying crazy ways to evade tax these are some simple legit way.

    • @JatinKumarPatro
      @JatinKumarPatro Před rokem

      @@VivekBisht yeah true. Additional 50k deduction

    • @nithinmesingerme6976
      @nithinmesingerme6976 Před rokem

      Yeah.. am using full 2.5lac to EPF and 50k to nps. Thats easy and safe.

  • @venkatsailor
    @venkatsailor Před rokem

    Can't thank you enough.. you give a mental strength to common man!

  • @mohammadfiroz5085
    @mohammadfiroz5085 Před rokem

    Thank you Mr.Akshat..The Content is .Very useful

  • @Alastair_orion
    @Alastair_orion Před rokem +4

    hey can u put a video on all way of optimizing taxes, that would be more helpful

  • @arvindynr
    @arvindynr Před rokem +6

    small finance banks give around 7-8% interest in FD which equals inflation. Thus a safer option to grow money without investing in stock market.

    • @shadow_prince_rex
      @shadow_prince_rex Před rokem +2

      U are wrong bhai, after tax u will get return of only 4 or 4.5% and unlike equity it will be taxed every year

  • @akashdeepchatterjee3943

    I like your and Pranjal Kamra's video in finance space only, because of tbe no nonsense approach. Great going

  • @charudattaalate7176
    @charudattaalate7176 Před rokem

    Dear Akshat, another inormative video from you Congratulations & keep them coming Rgds

  • @arvindprasad4656
    @arvindprasad4656 Před rokem +2

    Can you please make a video on some good index funds?

    • @rishiparnaroy2073
      @rishiparnaroy2073 Před rokem

      Hello Akshat. Can u make a video on how to invest in US stocks

  • @chiragchaudhary9668
    @chiragchaudhary9668 Před rokem +165

    No he did not lose that money.... He just said so because a lot of his known relatives started asking money from him as a loan.

  • @aartinayak1714
    @aartinayak1714 Před rokem

    You're Great for sharing great knowledge in simple language.

  • @deepak7tak
    @deepak7tak Před rokem

    Yes, I liked the dialogue man. And, you have sound knowledge of finances, taught me a lot.

  • @ankamanirudh8837
    @ankamanirudh8837 Před rokem +11

    I can easily turn 1 crore to 25 lakhs

  • @vikramendrasingh1764
    @vikramendrasingh1764 Před rokem +3

    The value of 1 Crore after 15 years would be hardly 10 lakhs..

  • @vikramchauhan1243
    @vikramchauhan1243 Před 11 měsíci

    Hats off for the non stop commentary on such important topics in such short time. Must have put in a lot of hard work. Thanks again Akshat. Very very helpful. 👍

  • @gurudutt764
    @gurudutt764 Před rokem

    Aksatji,Happy Diwali sir.
    To be honest,I love your sweet smile more than your videos ( not necessarily mean I don't love your videos).You win me by your most gorgeous assault...the descent and lucid way of presenting your thoughts,gives the recipient ....a smile to remember.
    Thank you and YT too for the generosity.

  • @H.a.k.u.n.a
    @H.a.k.u.n.a Před rokem +4

    Hi Akshat,
    I took a credit card 5 months back just to have a CIBIL score. I have not had any loans or anything in the past. Can you or anyone suggest ways of increasing the CIBIL score (besides making full payments and on time payments).
    Thanks.

    • @yashshetye5985
      @yashshetye5985 Před rokem +1

      You actually have to use your credit card on montly basis to have a CIBIL score and yes all payments need to be made on time WITHOUT any late payments or worse defaults.
      Age of your loans also matter to an extent especially if you expect advertised interest rates when going to apply for Home Loans. Someone who's been using credit cards for 6-7 years is said to be more safer than one who had just started.
      A mix of credit card payments, personal loans, car loans make you a good candidate for credit as well.

  • @klokesh5959
    @klokesh5959 Před rokem +3

    One topic you never covered is NPS.. Can we get a video from you on this?

  • @pallabroy1576
    @pallabroy1576 Před rokem +1

    Super .... especially the loan topic .... very brave....keep it up, please ..all the best ..and keep posting good topics ...do u have any idea about wine investing

  • @vaidyaaishu
    @vaidyaaishu Před rokem

    Thanks for your insight. Extremely helpful video

  • @yevodee4024
    @yevodee4024 Před rokem +3

    Forget about investing the amount of Rs, 3,50,00,000 in any gold or in stocks or even in real estate.
    If Mr. Sushil Kumar had merely deposited that money in fixed deposits of any nationalised bank in India, he could have lived a reasonably comfortable life by using the interest on that 3,50,00,000.
    Further, at least that principal of Rs. 3,50,00,000 would still be safely in the form of fixed deposits-moreover, INR 3,50,00,000 is *NOT* a paltry sum of money in India in the year 2022 C.E.

    • @akshats.656
      @akshats.656 Před rokem

      Thanks for your comment. What’sap me with the number showing above for more information and consultation on profitable investments..

    • @amishmittal2291
      @amishmittal2291 Před rokem

      The 3.5 crore still would lose its value really soon

    • @yevodee4024
      @yevodee4024 Před rokem

      @@amishmittal2291
      I am not sure I understand the point that you are trying to put across.
      I had suggested that Mr. Sushil Kumar should not touch the principal of Rs. 3•50 crores.
      Yes, it might lose value due to inflation. BUT, one can try to live modestly on the interest, and even try to save some money that accrues as interest, and reinvest that saved money.

    • @AshokSingh-rb4yj
      @AshokSingh-rb4yj Před rokem +1

      I think as long as FD rates we are getting higher than inflation, the no issue

  • @jasmeerkumar
    @jasmeerkumar Před rokem +12

    15:32 *You don't necessarily need to achieve Rs 20Lakhs turnover mark to get eligible for registration in GST, even at the turnover of Rs 20 you can take registration in GST. The 20Lakhs which you are saying is one of the threshold for mandatory registration in GST. These threshold are different for different states, union territory and threshold differs from business to business also. So don't advise anything if don't have full knowledge of the facts*
    And for your iPhone example 👇
    *And taking benefits of ITC(Input Tax Credit) is legally only available for assets used in course or furtherance of business*
    *If this benefit is taken for personal purpose you will get into legal trouble, so don't throw gullible people into legal trouble*

    • @funlife3484
      @funlife3484 Před rokem

      True, there are thresholds of 20 lakhs and 40 lakhs. Gst registration for thresholds lesser than these is not mandatory, but still they csn apply.

  • @sumiranunhandalable
    @sumiranunhandalable Před rokem +2

    Awesome video, could you talk about how choosing a spouse is a financial decision in itself? I could not convince my friend, but am sure it makes a lot of sense 😅

  • @Ravishankar_RS
    @Ravishankar_RS Před rokem

    Thanks for the informative video 😊

  • @chuckmaddison2924
    @chuckmaddison2924 Před rokem +4

    I had a laugh at salaried class. ( people on fixed incomes that can work more hours with no gain)
    I bought property for cash . I realised the cash in the bank was going down and was tempted to buy everything. Cars I believe are the biggest waste. So I have the cheapest car my ego can live with.
    ( 2005 lancer )
    Now it's under control and I can't spend as much. Great video with good advice.
    Anyway hope you had a great Diwali.

    • @sierrachief117
      @sierrachief117 Před 10 měsíci

      True. Cars are the biggest investment blunder salaried people do. On top of that, they take a loan at high interest rates

  • @siddu2843
    @siddu2843 Před rokem +5

    Managing money is harder than earning!!!!

    • @premalobo7364
      @premalobo7364 Před rokem

      Exactly dea harder than earning and saving, ur Bangor. Wisely said....

  • @kiranbel246
    @kiranbel246 Před rokem

    Greate learning, please throw some light on investing in NPS for salaried people.

  • @premalobo7364
    @premalobo7364 Před rokem

    Thank you Akshat for always Enlightening us.God bless.

  • @vinayjoshi2436
    @vinayjoshi2436 Před rokem +2

    Akshat gave us a tour of his neighbourhood. Looks good akshat. We enjoyed it 🤣

  • @syedamaan9987
    @syedamaan9987 Před rokem +3

    Make video on Study India 🇮🇳 OR Abroad 🇺🇸🇬🇧🇨🇦🇦🇺, especially for Masters?

    • @shrikantraut3864
      @shrikantraut3864 Před rokem +1

      There's already a video about it on the channel.

    • @syedamaan9987
      @syedamaan9987 Před rokem

      @@shrikantraut3864 But I think that was old and needed new one considering the current situation & all.

  • @kinjalakbhagowati4357

    Such important knowledge.

  • @mano_k44
    @mano_k44 Před rokem

    Very much knowledgeable 💐 thank you.

  • @shubhangeechaudhary4911
    @shubhangeechaudhary4911 Před rokem +8

    You're doing sucha great work educating us all Akshat, keep up the good work! 🔥🔥

  • @chnishantsingh007
    @chnishantsingh007 Před rokem +9

    Hey Akshat,
    Nice video as always!
    I have a 1-year-old kid, and I want to keep aside some amount systematically for his college/higher education while not losing the buying value of that aggregated amount. Should I park it in FD or a nifty 50 index fund?

    • @shrewman5361
      @shrewman5361 Před rokem +3

      You can invest in FD, Liquid Funds, and Nifty 50 index fund with the following weightages 40%, 30%, 30% respectively. Liquid funds should give you about 7-9% returns annually.

    • @niranpai
      @niranpai Před rokem +1

      @@shrewman5361 Which Liquid fund gives that much returns? Can you please enlighten everyone here?

    • @chetanyarohilla8087
      @chetanyarohilla8087 Před rokem

      @@mansivijay1378 That's not akshat

    • @nazneenr8960
      @nazneenr8960 Před rokem

      @@shrewman5361 why o u need a liquid fund for an investment he won't touch for 15 years. He said purpose is kids future education.

  • @amitaa8434
    @amitaa8434 Před rokem +1

    Very informative video, sorry but can’t miss the background , can you please share which place is this?

  • @megharaj3555
    @megharaj3555 Před rokem

    Thanks for the information bro

  • @darshikatailor
    @darshikatailor Před rokem +2

    How much minimum return one should earn to beat inflation as every investment does not give 15 percent cagr

  • @codeleaf3337
    @codeleaf3337 Před rokem +2

    Regarding the Sukanya samrudhi yojana you did a mistake
    you said 10k per month and getting 4 lakh only but if you invest 10K per month you will get more than 44 lakh .
    And i can see clearly that it is 1000 per month in the screen when you put up the calculation on the screen

  • @jasminakamdar5258
    @jasminakamdar5258 Před rokem

    This video is so crisp and on point.

  • @yogirajwandre8127
    @yogirajwandre8127 Před rokem

    Akshat, it was lovely the way you described into the this video. Keep it up 👍.