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.

[akshaypai]

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.

[rajeshnair]

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.

[hullbruce]

I'm 38yrs now and following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $160, 000 outside funds in my IRA to invest in stocks. Currently looking for short term opportunities that could double $150, 000 by Q1 of 2024.

[katharinaleonore]

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

[hilly_billy]

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!!

[MrSatadal]

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

[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

[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.

[CadeCowell-ftfe]

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.

[Margaret-jlcj]

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?

[mariappankumar]

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.

[Journeytodreamsandbeyond]

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 😊.

[dianaP]

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?

[bishnusingh]

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

[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.

[hshs]

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.

[dipalihafiz]

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 .

[archanakr]

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

[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