He Generates Passive Income 6x Of His Salary | 1 % Life

Summary

In the '1% Life' series, the host interviews Mr. Bin Parikh, a financially independent director at Crystal, to understand his journey to wealth. Parikh emphasizes the importance of passive income exceeding active income and shares his strategy of investing in stock options of companies he believes in, which has led to substantial growth over time. He advises viewers to become experts in their fields, give before expecting, and be open to new opportunities. Parikh also discusses his asset allocation, including a significant portion in equity and startup investments, and stresses the value of learning from financial news and connecting economic dots.

Takeaways

• 💼 The interviewee, Mr. Bin Parik, has achieved financial independence through a combination of salary and investment income, with the latter being 6 to 8 times his salaried income.
• 📈 He emphasizes the importance of passive income from investments exceeding active income from work as a key to financial independence.
• 🏦 Mr. Parik shares his experience with stock options from companies he believed in, such as Oracle and Backbase, which grew significantly over time, contributing to his wealth.
• 🚗 Despite his wealth, Mr. Parik maintains a modest lifestyle, choosing comfort over extravagance, as evidenced by his 10-year-old Honda Mobilio car.
• 🏡 Real estate and a single expensive car purchase are among his major expenses, indicating a preference for investing in assets that appreciate over time.
• 👨‍👧‍👦 Mr. Parik has instilled financial discipline in his children, who are successful in their respective fields without relying on their father's wealth.
• 📊 He suggests that achieving mastery in one's field can lead to financial rewards, as expertise can attract higher income opportunities.
• 🤝 The mindset of giving before expecting and not being selfish is highlighted as a key to attracting wealth, according to Mr. Parik's personal philosophy.
• 🌐 Being open to new opportunities and having a growth mindset are recommended for those aiming to achieve financial independence.
• 💼 Mr. Parik's asset allocation includes a significant portion in equity, mutual funds, and startups, with a smaller percentage in gold and real estate.
• 💡 He stresses the importance of learning about finance and investing, even without a formal degree, by reading financial news and connecting economic dots.

Q & A

What is the key to achieving financial independence according to the guest?

The key to achieving financial independence is having a passive income that is greater than your active income, meaning the money made from investments should exceed salary income.

How did the guest's investment income compare to his salaried income?

The guest's investment income is six to eight times his salaried income.

What was the initial stock value given to the guest when he joined his first company, and what is its current value?

The initial stock value given to the guest was 165 rupees, and the current value is 8,000 rupees.

What is the guest's advice on stock options for those looking to invest?

The guest advises to take stock options, especially from small companies that offer them, ensuring the company is ethical and has good fundamentals.

How has the guest's lifestyle changed after achieving financial independence?

The guest's lifestyle has changed to remain comfortable without being extravagant. He still drives a 10-year-old car and does not indulge in unnecessary expenses.

What is the most expensive purchase the guest has made in his life?

The most expensive purchase the guest has made is property.

What is the guest's approach to spending and saving money?

The guest spends money mainly on traveling and vacations. He does not liquidate his investments and keeps them growing.

How much of the guest's wealth has come from the stock market?

70 to 80% of the guest's wealth has come from the stock market.

What are the common mistakes people make according to the guest that prevent them from achieving financial independence?

Common mistakes include keeping most of their money in safe assets like bank accounts or fixed deposits, not investing in equity or mutual funds, and not diversifying enough.

What is the guest's asset allocation strategy?

The guest's asset allocation includes 5% in gold, 15% in property (excluding his house), 40-50% in equity, 20% in mutual funds, and 20-25% in startups.

How did the guest develop his understanding of finance and investments?

The guest developed his understanding through reading financial newspapers, connecting the dots between current events and market impacts, and working in financial services companies.

Outlines

00:00

💹 Stock Investment Success and Career Insights

The speaker, Mr. Bin Parik, discusses his financial journey, highlighting the exponential growth of a stock he was given at 165 R which later multiplied to 8,000 R. He emphasizes the importance of passive income exceeding active income for financial independence. Parik shares his experience working at Oracle for 14 years, where he benefited from stock options that significantly increased in value. He also mentions his investment in startups and the importance of believing in the companies he works for, as well as the value of staying invested in good companies with strong fundamentals.

05:02

🛣️ Lifestyle Choices and Investment Philosophy

The conversation delves into Mr. Parik's lifestyle choices post-wealth accumulation, noting that he maintains a comfortable but not extravagant lifestyle, as evidenced by his 10-year-old car. He discusses his views on spending and investment, revealing that his investment income far exceeds his salary and that he has not liquidated his investments. Parik also touches on his children's careers and his approach to parenting, ensuring they are not spoiled despite his wealth. He stresses the importance of not succumbing to lifestyle inflation and focusing on wise investments rather than material possessions.

10:03

📊 Asset Allocation and Diversification Strategies

Mr. Parik provides insights into his asset allocation, which includes a small percentage in gold, a moderate portion in property excluding his residence, a significant allocation in equity, and a portion in mutual funds. He also discusses his involvement in angel investing in startups, which accounts for 20-25% of his portfolio. Parik explains that while he takes calculated risks with concentrated bets in startups, he maintains a balance by keeping the majority of his portfolio in safer assets. He also addresses common mistakes people make with their investments, such as under-diversification and a preference for safe assets over equity, which can limit wealth growth.

15:04

🌐 Global Events and Their Financial Implications

The speaker elaborates on his method of connecting global events to investment opportunities, using the example of geopolitical tensions affecting gold prices. He shares his approach to learning about investments, which involves reading financial newspapers and staying informed about market trends. Parik also discusses the potential for investment returns around election times, based on historical data suggesting that investing in financial services companies prior to elections can yield high returns post-election.

20:05

🚀 Non-conventional Investments and Life Lessons

Mr. Parik talks about his ventures into non-conventional investments, including peer-to-peer lending and early investments in cryptocurrency, which unfortunately resulted in a loss. He reflects on the evolution of his investment strategy over time and shares a life lesson on the importance of not comparing oneself to others and instead focusing on one's own financial goals and limits. Parik concludes by reiterating the value of a growth mindset and the pursuit of financial independence tailored to individual circumstances.

Keywords

💡Financial Independence

Financial Independence refers to the state where one's passive income exceeds their active income, allowing them to cover living expenses without the need for a regular job. In the video, Mr. Bin's journey to financial independence is highlighted, emphasizing that his investment income is six to eight times his salaried income, which is a key factor in his financial freedom.

💡Stock Options

Stock options are a form of employee compensation that gives the holder the right to buy a certain number of shares at a predetermined price within a certain time frame. Mr. Bin discusses how he received stock options during his tenure at Oracle and how these options, which grew significantly in value, contributed to his wealth accumulation.

💡Investment Income

Investment income is the money earned from investments such as stocks, bonds, mutual funds, or real estate. The video script mentions that Mr. Bin's investment income is a multiple of his salary income, which is a significant aspect of achieving financial independence.

💡Asset Allocation

Asset allocation is the process of dividing investment funds among different asset classes such as stocks, bonds, and cash equivalents. In the script, Mr. Bin explains his personal asset allocation, which includes stocks, mutual funds, real estate, and startup investments, demonstrating a diversified portfolio.

💡Equity

Equity in the context of the video refers to ownership in a company, represented by shares of stock. Mr. Bin talks about the importance of investing in equity, particularly when the company has good fundamentals, as it can lead to significant growth in value over time.

💡Lifestyle Inflation

Lifestyle inflation occurs when an individual's spending increases as their income grows, often leading to a lack of savings. Mr. Bin contrasts this by discussing his choice to maintain a comfortable lifestyle without extravagance, even after achieving financial independence.

💡Angel Investment

Angel investment involves affluent individuals providing capital to startups, usually in exchange for equity or convertible debt. The script mentions that Mr. Bin has invested in around 12 startups, which represents a significant portion of his portfolio and reflects his willingness to take calculated risks for potentially high returns.

💡Mutual Funds

Mutual funds are investment vehicles that pool money from many investors to invest in a diversified portfolio of stocks, bonds, or other securities. Mr. Bin allocates a portion of his assets to mutual funds, which is part of his strategy to diversify and manage risk in his investment portfolio.

💡Real Estate

Real estate refers to land and any improvements made to it, such as buildings and houses. In the video, Mr. Bin discusses real estate as part of his asset allocation, noting that it represents a portion of his wealth but is not his primary source of wealth creation.

💡Peer-to-Peer Lending

Peer-to-peer lending is a method of debt financing that allows individuals to borrow and lend money without the use of a traditional financial institution. Mr. Bin mentions this as a form of investment, where he lends money to individuals at a higher interest rate than what banks offer, providing an alternative way to generate income.

💡Cryptocurrency

Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Mr. Bin briefly mentions his early investment in cryptocurrency and the subsequent loss due to an exchange shutdown, illustrating the high-risk nature of such investments.

Highlights

Achieving financial independence through passive income exceeding active income.

Investment income is six to eight times the salaried income.

The importance of long-term stock investment with an example of stock growth from 165 R to 8,000 R.

The value of staying with a company for a long time and the benefits of stock options.

Lifestyle inflation and maintaining a comfortable lifestyle without extravagance.

The most expensive purchase being a car worth 15 lakhs, emphasizing the importance of not overspending.

Investing in startups as a high-risk, high-reward strategy with a 20% allocation of assets.

The significance of asset allocation with 40-50% in equity and 20% in mutual funds.

The benefits of investing in financial services companies before elections for potential post-election returns.

Common financial mistakes such as keeping money in safe assets and not investing in equity or mutual funds.

The importance of not being afraid of change and having a growth mindset.

Achieving the first crore through mastery in one's field and not focusing too much on salary.

The concept of giving before expecting and the role of karma in financial success.

The role of diversification in investments and the common mistake of over-allocating to real estate.

Learning about investments through reading financial newspapers and connecting the dots.

The experience with peer-to-peer lending as a non-conventional investment method.

Lessons learned from early crypto investments and the importance of being prepared for risks.

The evolution of investing strategies from early career days to achieving financial independence.

The final advice on not living someone else's life and setting personal financial goals.

Transcripts

that stock value price which was given

to me was 165 R and today the price is

8,000 R 50 times it is multiplied by

that much so why are you still working

I'm not that rich I invested in around

12 startups wow in past 3 years how much

is your investment income as a multiple

of salaried income 6 to eight times wow

if you invest into financial services

company 6 months before the election it

gives the very best return post elction

ction can you touch upon some of the

mistakes that people of your generation

have made due to which they are not

financially independent but you

[Music]

are hey guys Welcome to our latest

series the 1% life where we talk to

people who have achieved Financial

Independence that is they've achieved

the superpower to not be controlled by

money they control the money we have Mr

bin parik who is a director at Crystal

Mr bin thank you so much for coming on

the show it's my honor to be here the

honor is all our sir because we would

love to know how your journey has been

and I'm sure millions of people would

love to know how they can Achieve

Financial Independence in their life

because a lot of people think that's

unachievable for them right so we want

to learn from you so let me start by

first asking are you Financial

independent yes very much it's quite

some time but how do you arrive at that

because a lot of people when you ask

them what is that amount of money they

need after which they can just Netflix

and chill for the rest of their life in

most people's mind that number is 100 CR

200 cres because there's no like real

logic or math behind it one simple rule

which you have to follow your passive

income should be greater than your

active income meaning the money that I'm

making from my investments profits

should exceed my salary income income

okay so that and then for you that's

happening yes like how much is your

investment income has a multiple of

salaried income like is your invest like

for example your stock market plus

mutual fund plus gold returns is it like

3x of your salaried income so that's

what I wanted to understand like how

much has it become as a proportion 8 six

to eight times wow so your investment

income is six times your salary income

yeah I mean it is multiplied by that

much I say so why are you still

working my five will say

that you can't sit home no no but I

enjoy you thought about it have you

thought about just sitting at home and

no no not not at all not so for the

audience who's been hearing so far they

would be like oh this guy would have had

a you know very coming from a rich

family has a very high salary from day

one so can you talk a little bit about

uh you started working at the age of 2

to 23 I'm assuming right right so can

you talk about what was your first

salary and how it has progressed over

time yeah so my first job was from

campus and that was uh with Tata game

girls Limited in mapor okay and that was

for 3200 rupees a monthly salary and I

was with Oracle for quite some time

obviously yeah I was there for 14 years

what I I I see see this a pattern

because a lot of our uh the previous

generation they have the tendency to

stick in a company for a very long time

right but the current generation likes

to move every 3 years or four years so

what made you stick in the same company

for 14 years so so one is that I was

traveling okay so I travel a lot of

countries maybe at 10 12 countries okay

so that's where I didn't realize okay so

I mean at any point of time you won't

get bored other thing was that now there

was a stock option which was given to me

in 2005 I don't remember exactly when it

got listed yeah 2005 2008 so when it got

listed lot of people sold the stock they

said that oh I I mean it is giving a

good return kind of a thing whatever 20

30% 50% they sold the stock they they

made money at that point of time but I

continue to remain invested so that

stock value price which was given to me

was 165 rupees okay okay and today the

price is 8,000 rupees so 80 times 40

times 50 times you can say that 50 times

growth yeah growth in 20 years 20 years

yes interesting okay so that is what in

equity if the company is good

fundamental is good okay then you have

to remain invested and again as I said

connect the dots I like it okay so that

is one after that I moved to backless

Bank okay where again I got so wait

after 14 years of working at Oracle what

was your ending salary there at Oracle

close to 2 lakh 2 lakhs a month yeah

then again after join polar okay again

they also give the stock option okay

okay and there I stayed for 8 years okay

and as I said 22 I moved out now their

stock option also is like they give me

whatever the price which is there they

give me at 40 rupees okay and now the

price is, rupees wow okay so I have not

sold any option big learning for people

is to take stock options yeah stock

option is a very good thing I think you

should go for stock option you go for a

small company who offers a stock option

okay but please ensure that now company

is doing sort of a ethical thing so now

I understood your secret it is not your

salary growth it is that you chose

companies which you really believed in

and rode that Journey along with the

company by taking some stock options

correct correct interesting you had a

phenomenal career growth right uh one

thing that happens when people become

richer or they make more money is that

they sort of go all out you know

lifestyle inflation as they say it how

has your lifestyle changed has it

changed firstly um I'll say uh it has

changed to just remain uh I'll say

comfortable okay and not like extravagan

kind of a thing obviously for example

what car do you have I dve um Honda

mobilo which is a 10 years old car okay

and it's very comfortable why should I

sell it if I mean so a lot of people are

saying oh you should buy electric Eevee

you should buy this new that one I can

buy and they're not financially

independent I'm

assuming I don't know see for giving

advice anyone can give advice right so

you should buy do this that but I I

don't believe in that so what is the

most expensive purchase uh of your life

so property only I say that no apart

from property the car I mean when I

bought it it was 15 lakh yeah that's it

one car 15 lakhs and then how that's no

other expensive purchase like what about

your children and all what do they do

how have you taugh um my daughter is

again btech computer science and she's

working with a JP Morgan and my son is

just uh completed his 12th and he's in

IIT Bombay okay so so you've done a good

job of

parenting I don't know whether you not

created spoiled kids like as they say

when kids are born of Rich parents

absolutely Absol I I don't I don't

believe in that in fact um so nobody's

spending money then you're not spending

money kids are not spending money so why

are you making so much money I want to

spend money I'm spending money on the

traveling basically going on the

vacation or so I mean your investment

income is far more than your salary

right like the returns that you're

generating from Investments is far more

right so if 100 rupees is your salary

plus investment income out of that how

much percent is going into kcha so so

see I mean in my investment is

generating whatever income okay but

income is in the sense my investment is

growing of course you're not you're not

I'm not liquidating it of course I know

that right yeah so I'm just keeping it

there only investment I'm not

liquidating it huh no no I know that but

some people you know don't look at like

what you think right they'll be like ah

last year I made so much profit I'll

just sell this now and I'll make some

money from my salary 30 30 to 40% that

you're not even touching yeah not

touching that investment part I mean

when did you sort of achieve your first

CR and what kind of advice would you

give to the audience here to achieve

their first CR like Cor when you you

become a ky like they say I'm not amitab

bachan but when you become a koty so

maybe 10 years back or so I'll say that

so in your early 40s you became a so

what advice would you give somebody to

achieve their first Crow as quickly as

possible so I my advice will be that you

try to achieve the Mastery okay

expertise in your field of area okay or

knowledge okay don't try to focus too

much on the salary when you become a

sort of a I'll say expert which people

look to you okay or I'll say thought

leader that's where now you money will

start coming to you so that's number one

become a subject matter expert in

whatever your chosen field what are the

second or second or third lesson uh

second lesson is that see um earlier

also I used to be like no what is there

for me okay today's youngster thinks

like that only what's it for me what's

it for me okay so don't think like that

okay first try to give something before

you expect something h don't be selfish

okay so that I feel that I am doing lot

more for others and that is where I

think karma is giving back to me so this

is more like a mindset mindset have this

mindset and then money will come to you

correct got it and what's the any other

last and third thing is that see um try

to go with the flow really lot of people

say that I'm going with the flow yeah so

try to go with the so something new

comes up people are very hesitant okay I

mean people are very ERS to change so be

open to new things new things you should

you should have a growth mindset right

okay something new comes up try to do it

that way so that is third thing which

I'll request so is like is the is stock

market your biggest source of wealth

creation exactly correct so if I were to

ask you let's say today our net worth is

100 rupees how much of 100 rupees came

from stock market um I'll say 70 80 70%

of your wealth has come from stock

market 70 to 80% yeah wow because I feel

that salary is only for your day-to-day

expenses okay day-to-day life what are

you spend it okay you should ear more

than that then that is a kind of a

financial Independence for you so that's

a great point because I know a lot of

people in my circles people who are like

four five years older than me like in

their mid-30s okay they're making like

40 50 lakhs perom income right but when

I talk about their Investments 10 lakh

20 lakh savings that's it yeah I know so

I have the same kind of a I'll say

examples from my colleagues or from my I

want to double tap on that because

that's a very interesting question sure

because you're talking about your

colleagues right who are also in their

early 50s right but you and they're

making similar kind of income right but

you have achieved Financial Independence

but they have not so can you touch upon

some of the mistakes that people of your

generation have made due to which they

are not financially independent but you

are yeah correct people feel that now

they want to keep money safe okay and

that's where they keep it in the bank

account or in the fixed deposit okay

including my father also okay I'm other

way I have hardly any money in my bank

account okay okay investment is very

much required in Wise manner so that it

mul multiplies yeah so so one mistake is

people are putting most of their money

in safe assets yeah what other mistakes

are people doing uh other mistake is

that now people don't invest in the

equity or mutual fund huh that's the

same thing and Equity of mutual fund a

little riskier compared to Safe assets

so they're not putting no no no it's not

the same thing because see people once

they have money they will say that okay

I'll keep it into a say property or I'll

keep it into gold so when you see a

property a physical thing people feel oh

it's good actually and they will invest

into that but if you see property will

grow Maybe by 2x or 3x in whatever 10

years 15 years cor okay but if you see

Equity it will grow maybe a 10x 15x 20x

okay in whatever 15 years so you see the

kind of a difference which is there so

that is a second mistake not putting in

stock for Equity any other mistakes

other mistake is that they have to

little bit diversify also uh but if you

look at the reports which RBI keeps uh

you know calculating from time to time

uh 76% of an average Indians wealth is

in the real estate right and around 10%

is in gold and another 10% is in your

durable goods like your smartphones

refrigerator furniture and all that

goods and like 5% is in actual assets

let's understand more about you let can

you tell us what is your asset

allocation and how do you really think

about asset allocation okay 5% in maybe

gold uh maybe starting with the smaller

things yeah maybe a gold when you mean

like jewelry or like gold coins both

both gold coins also you have gold coins

also gold

biscuits I'm not that rich I wish

that yeah but um yeah gold coins small

gold coins okay and then maybe um I'll

say property uh 15% when you mean

property the house that you living in or

like plots of land and all yeah

something more than that yeah not not

where I'm living it but yeah something

you're excluding your house excluding

house yeah yeah yeah and uh then I'll

say that U

uh 40 40% maybe Equity 40 to 50% Equity

again 20% mutual fund okay and then

recently I also discovered about uh

Angel investment in the startups so I'll

say maybe 20 25% also into startups wow

okay so I invested in around 12 startups

wow in past 3 years got it so that is

like how how much did you say 20% of

your money is in uh startup yeah correct

20% is in startups and the expected

growth rate for investing in startups I

would assume like 40 50% cagr over a

longterm period yeah correct right that

so but you have to forget money for five

years at least of course like I I had

recently spoken to anupam on a podcast

where he said that uh wealth creation

doesn't happen through asset allocation

it happens through taking concentrated

bets right so you have kept 20% of your

net worth into startups where you're

taking some concentrated bets because

you've invested in like 10 10 12

companies cor and very high chance that

even half of them might go bust but the

remaining half will grow by like 10x 20x

so overall portfolio Grows by 40% or 50%

and that creates wealth creation correct

the remaining 80% of your portfolio you

have kept it in safer assets so preserve

your wealth like you've worked so hard

all your life so you want to preserve

that right so you're not gambling all

your money no no right correct right so

hopefully that 20% Which you invested in

startups will be equivalent to this 80%

soon and then again you'll do the sa

that's the idea hope right right correct

so now let's talk about your safe assets

because I think that is what's more

relevant for the audience correct um so

you mentioned that around 40% is in

stocks what what did you study because a

lot of people think that if I have to

pick stocks I need to have a CA degree I

need to have a CFA degree I need to be

an investment banker they think that I

need to have a finance degree so what

did you study so my learning is only

through reading the newspaper okay and

maybe blocks nowadays right so I don't

actually go by tips or Etc like that

okay unless and until someone is working

in the company okay and he I mean when I

talk to him he says that okay these are

the sort of growth avenues for the

company or there is a new territory

where we are expanding that's what even

raak J he used to actually go to

titans's office and spend hours with

those management people to understand

yeah he was into full-time but I don't

have that much time but yeah obviously I

I do that kind of a reading so I

normally read just a financial newspaper

daily read the news okay and you have to

connect the dots okay which most people

don't do say for example Israel Iran War

is there right now what is the

implication of that you see gold prices

is rising why because all the major

economies are moving the money in the

gold okay because there might be impact

on the oil okay right so so that is how

you to connect the dots I mean just that

is how the gold price is increasing

right now looks like okay give me

another interesting example like this

say uh stock market is going up then you

see the stock related to BC

cdsl right their prices are going up why

because more people are investing into

stock market more demate accounts are

getting open and more uh those broking

uh companies prices are also going up

right so based on certain event you have

to connect the dots you to figure out

okay how it will impact the market or

how it will impact the company like for

example right now the elections are

coming right A lot of people are like

you know probably the ruling party will

win again so the markets will rally more

right I would love to know your analysis

of how should I invest uh the was some

statistics which was published whereby

it said that now if you invest into a

sort of a financial services company 6

months before the election okay then it

gives a very best return post election

okay what is this analysis who published

this so it was a general statistics

which was published okay through

newspaper the historical data historical

data based on hist and they had given

that now which sector is giving a good

return pre-market Rel postmarket Rel

right and how did you build this uh

skill set right because you don't have a

finance degree like what did you study

exactly I'm uh B computer science

exactly right so a lot of people over

here watching our teis so how do you

build that you know that so there are

two ways okay okay one is that when I

was doing my graduation somehow it

clicked to me that now I need to

understand a little bit of accounting so

30 years back this is yeah 30 years back

okay years back you thought I need to

learn I while I was studying the

technology but I felt that I need to

have a basic understanding of

good all like moneyed from day one

second was that since I started working

into this financial services company

okay so the company which iflex

Solutions which was earlier called SLE

and now it has become Oracle okay so I

was there for 14 years in my first phase

of my career okay and that are they are

into particularly banking uh Services

okay they have banking software so

because working to the that company you

working in the financial servic

financial services so I got an idea

about okay banking full full so I mean

that encouraged me to get deeper into

other this one so that's about stocks

now mutual funds and other Investments

that you're doing um like everybody is

aware okay there is stocks there is

mutual funds there is gold there is real

estate right uh but you are also

investing in some other interesting

assets right so can you talk about a

little bit about some non-conventional

non-conventional investing things that

you're doing yeah so apart from this

standard things as I say startup is one

part of it uh second is about uh doing

this peer-to-peer lending also okay

whereby uh what is that peer to-peer

lending peer-to-peer lending is whereby

uh for example I I know you today but

for example yesterday I was not knowing

you right and I you wanted to borrow

some money highly unlikely but but I I

know that you wanted a money and I just

lend you money okay through some L you

give me one L yeah through some platform

I lend you that money and U since you or

maybe anyone who was not having sort of

a means of borrowing it he's ready to

give higher interest because I didn't

get loan from the bank bank right

because of xise reason or maybe it is

going to take time or whatever reason

right so you said Okay I I want to

borrow money and I I'll lend you money

but at the higher interest rate so what

else do you do apart from these things

do you invest in crypto crypto in fact I

had invested quite early but uh one of

that exchange shut down and hence I lost

that oh okay so it was a small small

crypto I mean it was 10 years back so I

lost money also I mean that's what I'm

saying so you have to take a risk okay

that's what I feel that interesting so

right now because you achieved Financial

Independence you are investing like this

right uh but how has it changed right

now you are 52 but when you were in your

20s and 30s was this investing strategy

different or has it evolved over time uh

it has obviously evolved over the time

but that time also I used to invest in

the stock any last money lesson before

we wrap up for achieving your first grow

because you all talking about the

mindset and I like that because uh

whenever you ask this question people

only tell you know stock market this

that but I like these kind of life

lessons which you have gained right very

simple but makes a lot of sense when I'm

hearing it yeah so I think um don't try

to leave someone else life okay so when

I say if people are spending money

people are putting something on

Instagram okay then you also want to do

it don't try to do it that way okay

figure out what are your limits okay

where you want to reach okay how much

money you have to save or how much money

you have to invest okay to make it

whatever we you want to reach yeah thank

you so much V I thoroughly enjoy talking

to I'm sure the audience who've been

listening for so long they have a lot

more clarity as to how to achieve

Financial Independence in their own

lives on that note guys thank you so

much for watching so far and I'll see

you in the next one