FitRichSane

2021-06-07 09:30:11 Lol Open / Comment

2021-06-06 15:30:12 Something I have said again and again. It's not about chasing that extra 0.1%. It's about sticking to a plan Open / Comment

2021-06-06 09:30:02 We are now active on Instagram.
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Do let us know in comments right here, if you think the design and content is awesome, and if you think something can be improved. Open / Comment

2021-06-05 15:30:01 It's very important to take care of your identity. The way you see yourself

Once you decide your goal, you have to change your identity to the person who would reach that goal.


If you want a promotion, think of someone who is likely to get one. Someone who doesn't upskill, doesn't contribute and just complaints probably won't get it.

Don't tell yourself that you will start working from today.
Start telling yourself and others that you are the kind of person who doesn't waste weekends, who keeps looking for ways to grow Open / Comment

2021-06-05 09:30:01 Let's encourage and learn from each other.

Write one thing that you do to stay healthy and fit.
Something that others can easily copy.

You'll help everyone stay healthy, and hopefully we'll thank you later.

I'll start.
Very first thing in the morning, I drink a glass of warm water. Open / Comment

2021-06-04 15:30:06 A goal has a fixed amount and timeline.

If I tell you that Aaryan wants to be an entrepreneur, Neha wants her children to study abroad, and Reyansh wants to travel the world, I haven’t talked about money at all yet.
But I am sure finances would have been among the first things that would have entered your minds. Such is the importance of financial goals. It is not about earning money to earn money. Almost all our essential and non-essential aims in life will need money.

Of course, not all expenses need to be planned for. Do you need a plan to go out for dinner to your favourite restaurant? I don’t think so.
A general rule of thumb is that you must plan for expenses that will cost you over a month’s salary. Smaller expenses you can tackle from your regular income and from small savings without much planning.


This weekend, try to get an exact idea of your expenses and goals. This will be the biggest step you ever take to get rich. Open / Comment

2021-06-04 09:30:07 Write down your expenses in detail. Every day. For at least a few months. This will be your greatest asset when you start planning your investments and your retirement. You'll find that your actual expenses are very different from where you think you invest.

Till you do that, your questions will be limited to:
“Please suggest some good investments.” “Which mutual fund schemes should one buy this
year?” “Which is the best investment?” “Should I invest in stocks or real estate?” “What is your view of the stock market?”


We keep talking about the investments, without even discussing the investor. Do you think your investment needs are the same as that of your neighbors? Of your relatives who still live in your hometown? Same as the investment needs of your cousin who moved to USA?


If an investment advisor wants to take a fee and recommends something without asking about your current situation, run away as fast as you can Open / Comment

2021-06-03 15:30:06 You should always know what you are doing. This is another reason loans are meant to be avoided. This is even if you intend to pay it back early. Do you know why?
The loans you take are called reducing interest loans. This means that the interest component is huge in your initial payments.

Look at this example. You take a loan of 50 lakhs for 25 years at 8%. You EMI comes out to be Rs.38,951.
In the next 5 years, you pay 5*12*38,951, which is roughly 23 lakh.
The SURPRISE is, out of this 23 lakh, your principal reduces only by roughly 3.8 lakh.
Even if you wish to repay the entire loan at this point, you have paid huge interest.

Buy what you can afford :) Open / Comment

2021-06-03 09:30:00 Human mind thinks in terms of absolute numbers & not in terms of percentages which many a times impacts their investment decisions

Let me tell you about a conversation between two friends...

Ajay: Investing in real estate is the best form of investing.
Vijay: How can you say that?

Ajay: I purchased a house at 30L and sold the house at 60L in a few years. So, basically i doubled the money in a few years and got a profit of 30L (60L-30L)
Vijay: When did you purchase & sell off the house?

Ajay: I purchased the house in 2003 & sold off the house in 2020.
Vijay: So, it took you 17 years to sell off the house at double the value?

Ajay: Yes, it is so exciting
Vijay: Can we actually calculate it mathematically in terms of percentages? The formula which you can use in an excel sheet is RRI, which will tell you the rate of return at which your investment is growing.

Ajay: OK
Vijay: RRI is (Period of Investment, Initial Value, Final value) which in our case it is =RRI ( 17,30,60)= 4.16%. That means your investment grew at the rate of 4.16% Y-o-Y for 17 years, which is even less than the inflation rate in India & you would have also paid interest in case you took home loan, brokerage, legal charges, flat maintenance cost etc. Hence, reducing your returns even further. That’s why it is important to calculate the returns in percentage while buying or selling assets.

Ajay: Ohk, I never thought about this way.
Vijay: There are asset classes which can give you a much higher return assuming you have a long term horizon. For example, Nifty 50 (Basket of Top 50 Companies in India) returns for the same period (Jan 2003 to Dec 2020) is 16.20% Y-o-Y.

Ajay: This is really eye-opener for me. I will be careful going forward. Hope to recover the cost of past mistakes in the future.
Vijay: Yes, provided you learn all the personal finance concepts.


(Not written by me. Found on a Facebook post) Open / Comment

2021-06-02 12:30:02 Lack of disciplined investment:
Instead of spending what is left after investing, people invest what is left after spending. This results in indisciplined investment. Open / Comment