How can we, the people of India, become financially independent?Originally Answered: How can we, the people of India, become financially Aatmnirbhar?

NEGI RK Thursday, November 05, 2020

How can we, the people of India, become financially independent?

Originally Answered: How can we, the people of India, become financially Aatmnirbhar?

Before moving on to this topic of becoming Financially Independent (Atmnirbhar), let us try and deconstruct this core philosophy.

All of us work really hard to earn money for good 20-30 years as part of our professional life.

But, after all these years, when it is time to retire, most countrymen don’t have sufficient funds to retire peacefully. Do you know why?

It’s because as youngsters, we are all made to focus just on 1 source of livelihood and what is that?

Your job. As a result, we keep working to sustain ourselves and if we are lucky, we might set aside some savings.

The millennials, on the other hand, are exposed to all sorts of images of wealth and success, and therefore success is usually equated with the number of cars, houses, or assets you create for yourself.

So what is the problem then? The problem is that once we grow up, we are forced to believe that your income depends on your active job.

The concept of passive income or investing is non-existent.

If you then include the wasteful expenditures in the name of “Quality of life”, most people add a dent to their personal finance thanks to loans which require years of re-payments.

In 2011, India’s Literacy rate was 69.30%

Fast forward 10 years, we’re now at 77.7%

That means we have grown by 9%, however, the number of people who invest in the stock market is just 2% of the country’s population

Because even though they are literate academically, they are not financially literate. Just think about it.

If only 2% of the entire 1.3 Billion people are investing, what will happen when that number becomes 80%?

Businesses will flourish, and the number of the upper-middle class will go significantly up.

The point that I'm trying to communicate is that India will never reach its full potential until they become financially literate or financially independent.

How to become “Financially Independent”?

The road to becoming financially independent starts with our children.

As parents, it’s our duty to teach them personal finance & investing at a young age so that they grow up, not only to become seasoned investors but responsible citizens of our country who know how to manage their time & money.

You can achieve this through some very simple steps, some of which I have been able to apply with my daughter.

I want to share a small write-up which Mishti wrote & a cute clip of her explaining the importance of Investing.

I’m on a mission to make India Financially Independent & touch the lives of fellow Indians to take investing & personal finance as an integral part of their lives.

Keeping my goal in mind, we have launched FinLearnClub - an initiative to help the people of India become more aware & confident to invest in stocks, mutual funds, & IPOs.

We have realised that there’s too much irrelevant information on the internet on personal finance & investing, but very little actionable advice on how to make an informed decision and not lose your hard-earned money.

We have also realised that a majority of courses and institutes simply shove facts down the people’s minds, but are never available to take up their doubts and questions.

Our courses are designed in the form of clubs or communities that encourage investors and students to come together and contribute holistically in this unique ecosystem.

We will only grow when YOU grow with us and this has been our guiding philosophy since the inception of FinLearnClub In just 3 months, we have been able to touch 8000+ lives across India and promote the idea of “Financial Independence” so much that one of our learners (whom we also address as shareholders) took to twitter to share one of their inspiring stories. Have a look.

I was deeply touched & filled with gratitude for all the love & support. If you want to become a part of this initiative, here are some great reasons to join our family of FinLearnClub