???????????????? ?????????????? ?????? ???? ?????????????????? ??????????
I have watched so many personal finance YouTube videos and read many personal finance articles, it helped me taking a few smart decisions but was only limited to investing in Mutual Fund and taking term life insurance. So last 5 years I have not acted beyond these two, sometime opposite with stock trading or directly buying stocks.
But something changed while I read Monika Halan’s “???????? ???????? ??????????.”
I had tried reading ‘I will make you reach’ by Ramit Sethi but couldn’t relate as it was more US/UK focus. However his Netflix series by same name is an interesting watch. Recently Ankur Warikoo published ‘Make Epic Money’ but it seemed targeting younger audience in their 20s.
Hence while reading Ankur’s fast paced book - I though to simultaneously read one authentic voice in Monika Halan’s book. It was game changing.
Most endearing part about Monika’s book is the personal examples that Monika herself has acted upon and many relatable examples from friends and family where Monika has been advising against bad decisions.
Another key aspect was the ranking of importance of key financial decisions.
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???????? ?? is emergency fund,
???????? personal health insurance (apart from organization one)
???????? ?? followed by term insurance and investment later etc.
She also guided ??????? ?????? ???? ???? - like no direct stock investing and not to have a single traditional plan.
Now the result - ?? ??????????? ?? ???????????????? ?????????? ?????????????????? ?????? ???????????? ?????? ???????? ?????????????? ???? ???? ?????????????????? ????????. ?? ??????? ?????? ?????????????????????? ???????? ?? ???? ?????????????? ?????? 5 ?????????? ???????? ?? ???? ?????????????? ???????? ???? ?? ????????.
I believe I am I that point in my life that I could take those decisions like able to pay for additional health insurance and able to withstand a loss in my traditional plan. However for anyone not buying traditional plan and sooner buying personal health and term insurance is best choice.
As an avid reader, I have devoted time to reading investment books specially biographies along with 100s of hours of watching investing videos - but direct stock investing has yet to work for me. I remain hopeful not only for higher gains but I find it exhilarating and hopefully a good way to engage post retirement. Another great advantage is - I get to know about business operations in detail. Warren Buffett had said, number 1 things a business leader needs to learn is asset allocation - so hopefully preparing for future.
?????? ?????? ??????????? ????? ??????’?? ???????? ???? ?????????? ???????? ??????? ???????????? - ????????????’?? ???????????? ???? ???????? ?????????????????? ????????? ???? ??????? ?? ??????? ????????.
Associate Professor at Institute of Management, Nirma University
1 年Monika Halan is an amazing writer in the personal finance space. You also listen to her podcasts. I wish to invite her to Nirma University. Btw, we started offering a course on Personal Financial Planning since last 8 years. In addition, i recommend you to join a facebook group named Asan Ideas for Wealth. I have been associated with it since its early days. Friends like Pattu, Ashal, PV Subra, etc are worth connecting with.
Market Research Professional | Driving Custom Projects & Client Success | Generating Insights for Growth
1 年Another great addition to this would be THE BEE, THE BEETLE AND THE MONEY BUG by Adhil Shetty. The sheer detail and clarity it provides is well worth the read.
Deputy Director - Consumer Insights & Marketing Analytics | Pepsi-Lipton Tea Partnership
1 年Hey Ashish, great points on your learnings from various sources on investing. I have also been following a similar path on personal finance and another most important thing I have learned is asset allocation. This, of course, comes after you have taken care of your insurance, emergency fund and any other liabilities you may have. But having a bigger picture of where you are investing irrespective of the corpus size could be really interesting. For instance, I follow the 60-20-20 rule in which 60% goes into equities, 20% debt (including Gold) and 20% FDs and liquid funds (to act as dry powder at the time of sale in the markets).
Product Management @ Microsoft
1 年This book is a gem. In my recommendation list too :)