Gym Trainer Earning CRORES In His 20s| Fix Your Finance Ep. 64 #personalfinance #fixyourfinance

Summary

In this episode of 'Fix Your Finance', Sagar, a 26-year-old fitness entrepreneur, shares his journey from earning 16,000 in his first month to anticipating an eight-figure income for his startup. Discussing his financial strategies, including a frugal lifestyle, significant investments in direct stocks and PPF, and plans for a home loan, Sagar emphasizes the importance of managing finances wisely and taking calculated risks in business and investments.

Takeaways

• 🏋️‍♂️ Sagar runs a fitness startup that helps men and famous individuals like Ankur Warrior get fit.
• 💰 He aims to cross an 8-figure income for his company and has already achieved a high of 20 lakhs per month in January.
• 📈 Sagar started his fitness coaching career at the age of 20, earning 16,000 in his first month, and has grown his earnings significantly since then.
• 💹 He has invested around 40-50 lakhs in direct stocks, demonstrating a high-risk investment approach without conducting personal research.
• 🤔 Sagar admits to not being adept at financial management and is learning as he goes, relying on a healthy cash reserve for company operations.
• 👥 His team consists of only 4 people, yet they manage to cater to around 100 active clients at a time.
• 💼 Sagar takes a fixed monthly amount of 1.5 to 2 lakhs for personal expenses, which has increased since moving to Mumbai.
• 🏠 He is considering using a credit card to build credit history for future loans, such as a potential home loan.
• 💡 Sagar spends a significant amount on groceries and has recently increased his spending on discretionary items like gifts and clothing.
• 🏦 He maintains a frugal lifestyle and has managed to save and invest a considerable amount of his earnings, with a focus on equity markets and PPF.
• 🏡 When planning to buy a house, Sagar intends to take a home loan, even if he has enough savings, to allocate his funds for potentially higher returns elsewhere.

Q & A

What is the primary service offered by Sagar's fitness startup?

Sagar's fitness startup primarily offers online fitness consultation and coaching to men across the globe, including famous individuals like Ankur Warrior.

How old was Sagar when he started his fitness startup?

Sagar started his fitness startup when he was 20 years old, and he is currently 26.

What was Sagar's initial monthly earning when he first started?

Sagar's first earning at the age of 20 was 16,000 in the first month.

What is the projected income for Sagar's company in the current financial year?

Sagar's company is projected to cross an income of 8 figures, which is over 1 crore Indian Rupees.

What was the highest monthly revenue Sagar's company achieved and in which month?

The highest monthly revenue achieved by Sagar's company was 20 lakhs in January.

How much did Sagar invest in direct stocks and why?

Sagar invested around 40-50 lakhs in direct stocks, mainly because he trusts the recommendations from a YouTuber's community and considers himself a risky person.

What is Sagar's current monthly salary that he takes from his company?

Sagar currently takes out a fixed amount of 1.5 to 2 lakhs per month from his company.

How does Sagar manage his personal finances and investments?

Sagar invests in PPF and the equity market, with 80% of his investment going into stocks and 20% into PPF. He also maintains a minimum of 6-7 months runway for his business and personal emergency fund.

What is Sagar's approach to using a credit card and building credit score?

Sagar has not used a credit card until recently and is considering using one to build his credit score for future loans, such as a home loan.

What advice does Sagar receive regarding his investment strategy in stocks?

Sagar is advised to diversify his investments and not rely solely on the recommendations from a YouTuber without doing his own research. He is also recommended to consider working with an investment advisor or investing in mutual funds for a more balanced approach.

What is Sagar's background and how has it influenced his financial habits?

Sagar comes from a middle-class background, which has made him frugal and inclined to save money automatically. His high income and frugality have contributed to his ability to invest significant amounts at a young age.