From ₹50k to Financial Freedom | Money Matters Ep. 37 | Ankur Warikoo Hindi
Published: 2024-11-23
Status:
Available
|
Analyzed
Published: 2024-11-23
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Recommendation to purchase a term insurance policy of at least Rs 1 crore with his daughter as the nominee.
"please get a term insurance with your daughter as the nominee and at least get it for Rs 1 crore"
Pending
Estimated current value of two plots of land is approximately Rs 30 lakhs.
"it would be around 30 lakhs something like this"
Pending
The current value of the speaker's stock portfolio is Rs 2.08 crore.
"my portfolio is showing 208 lakhs"
Pending
The speaker's goal is to achieve financial independence, meaning they will not need to work solely to earn money.
"you want economic freedom, you want financial independence, financial independence means you do not have to work to earn money"
Pending
The speaker's investment corpus is projected to reach approximately Rs 1.96 crore in 10 years.
"After 10 years, this 93 lakh will increase to around 1 lakh 96, sorry, 1 crore 96 lakhs."
Pending
The speaker's investment corpus is projected to reach approximately Rs 7.8 crore in 20 years.
"if this same journey continues for 20 years, then you will have 7 crore 80 lakh rupees"
Pending
After adjusting for inflation, the projected value of the speaker's investments after 10 years will be equivalent to Rs 1 crore in today's terms.
"after adjusting for inflation, its value will be around one crore rupees. Meaning, as of today, you will have one crore rupees and you will have the same amount of money after 10 years."
Pending
After adjusting for inflation, the projected value of the speaker's investments after 20 years will be equivalent to Rs 2.01 crore in today's terms.
"after adjusting for inflation, its value will be 2 crore 1 lakh rupees. Meaning, if you had 2 crore 1 lakh rupees today, you will have the same amount of money after 20 years."
Pending
The speaker's real estate investment is projected to be worth approximately Rs 65 lakh after 10 years and Rs 1.4 crore after 20 years.
"around ₹65 lakh after 10 years and around ₹1.4 crore after 20 years."
Pending
Even after withdrawing expenses, the speaker's investment is projected to grow to Rs 26 crore by age 85, assuming a 5% annual expense increase and 10-12% investment growth.
"you will actually at the age of 85 still not run out of money, you will still have money and how much will it be, Rs. 26 crore"
Pending
Advised to buy a house only when at least 50% of the purchase price is available as a down payment.
"you should buy a house when you have at least 50% amount with you to buy that house"
Pending
Selling the Rs 30 lakh worth of land to buy a house would be tax-efficient, allowing the entire amount to be converted.
"if you sell this land worth Rs 30 lakh and buy a house with that, you won't have to pay tax on it. So, the entire amount you get can be converted."
Pending
Advised to stop buying individual stocks in Angel One due to lack of knowledge and rely on SIP for diversification.
"Keep it. Keep it. My only question was what type of stocks have you taken, if they are large There is a stable company, for example, I have taken SBI, so whatever I do, I have done it till date, so I have already taken it, just think, if it reduces a little then my income of Rs. 5000, I bought two-three stocks in that month, then two-three in the second month, doing this, my number of stocks is a little more, is this procedure correct, no, my, now you should not buy stocks in it"
Pending
The current investments in Angel One should be left untouched, as they are expected to grow by an average of 10-12% annually.
"just keep the money you have in Angel One, do not touch it, neither withdraw nor add anything to it, it will remain intact on its own, it will keep increasing every year, it will keep increasing comfortably and it will keep increasing on an average by about 10 to 12 times"
Pending
Suggests a step-up strategy for SIPs by starting new SIPs of increasing amounts in subsequent years, rather than increasing the same SIP amount annually.
"You can do one more, next year you can do 625, then the next year you can increase it like this, that will also be a step up"
Pending
Recommendation to keep Rs 1 lakh in cash and allocate the remaining Rs 4 lakh of the emergency fund into three separate one-year fixed deposits for better liquidity management.
"my opinion will be that out of Rs 5 lakh, keep Rs 1 lakh in cash with you, make a fixed deposit of Rs 1 lakh each in the bank for one year, then you will have three fixed deposits, if there is any emergency, you can break only one fixed deposit and take its amount, there will be no need to break the entire fixed deposit."
Pending
Advised to repay the loan to the friend as soon as insurance policies mature and lump sum amounts are received.
"as soon as your policies mature and you get that lump sum amount, please give that money back to your friend. That will be the right way to do it."
Pending
Converting real estate into other real estate is tax-efficient as there is no tax liability on such conversions.
"always try to convert real estate into real estate because you don't have to pay tax on it."
Pending
Given the speaker's age, responsibilities, and single parenthood, it is appropriate to allocate approximately 40% of assets to safe investments and the remaining to the stock market.
"you should keep most of the money in your safe assets because you are old, you have responsibilities, you are a single parent, so keeping all that aside, you should put only around 40% in safe assets, which you are putting, and you are putting the rest of the money in the stock market, that is absolutely right"
Pending
The speaker's stock investments are projected to be worth approximately Rs 81 lakh after tax and inflation adjustment in 5 years.
"After deducting tax, it will be around 81 lakhs and after adjusting for inflation, its value will be around ₹ lakhs."
Pending