Viraj Khatavkar
I am typically averse to take any kind of loan for personal consumption or achieving anything in life. But there are few cases where taking leverage would help us get ahead without much downside.
We need to have some kind of plan to be successful financially. It doesn't need to be complicated, but some thumb rules should guide us into our journey. In this article, I try to lay down what are my personal financial thumb rules.
Nifty Next 50 or Nifty Junior is an index with next top 50 companies listed in India i.e. the companies ranking 51 to 100 on the stock market. They are viable candidates to be included in Nifty whenever they are eligible.
Investing in stocks is equal to gambling. That is a common reaction of 80 percent of the people I meet. But is it really?
A survey conducted in 2017 showed that 85% of the people in the world hate their jobs. 94% of Japanese workers hate their work, while 70% of American workers are not engaged. Why is this number so high? Do you also hate your job? Answer honestly to yourself!
Charlie Munger famously said that "The first $100,000 is a bitch, but you gotta do it." I explain how saving the first 50 lakhs is vital for us. Because after that milestone, compounding takes over to get our snowball rolling.
Compounding is the eighth wonder of the world. All things in life come through compounding. These words had the most profound impact on my life. I explain how compounding gives us the good and bad depending on what we feed into it. I write my take on how compounding affects wealth, health, and a few other things.
A brief story of a friend who bought a car on EMI and how it affected his net-worth. I show the true cost of owning a depreciating asset and my personal rule behind when does it seem right to splurge on expensive things.
Inflation is a hidden expense that all of us have to pay. We tend to ignore its effects because we don't see them. I explain the concept with some examples of how inflation decreases the value of our hard-earned savings from an Indian context.
I sometimes wonder whether it is worth the emotional stress to have a place that we can call "our home" but always be stressed about our finances? I write about my take on this question from a financial and emotional perspective.
This calculation shows that for the first ten years of our journey, focusing on savings is more important than beating ourselves about getting high investment returns.
FIRE is an acronym for Financial Independence Retire Early. The goal is to save enough money to retire early around the age of 35-45 rather than the traditional age of 55-65.

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