Niraj Dugar
@contliving
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CA | Co-founder @holisticwealth_ | Here to help you create wealth through mutual funds, get the best health and term insurance, and focus on holistic finances
India
Joined August 2013
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Its been more than 2 years of running Holistic Wealth. What exactly do we do at the firm?
Here is a summary for you -
1) Assessment of current finances and life circumstances:
When your life circumstances are unique to you then how can we apply general thumb rules to your
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This is from air purifier in one room. Many said Hyd doesn’t need air purifiers 😄
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Spoke to someone today who bought a 18 lakhs car the moment his salary went up from 15 lakhs to 20 lakhs earlier this year.
Current net worth - negative.
How are people comfortable with this?
What cant a 6 lakhs car solve that 18 lakhs one solves?
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Some thoughts on how I like to spend money -
1. Buy durable stuff
Spend money on things that last very long.
For example, my wallet is 5 years old and counting. Buy things that are built to last. I use the slim fold wallet that my wife gifted in 2018.
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A simple rule to buy a house in your 20’s -
Don’t buy one till you’re 40.
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NPS contribution through employer, which is tax exempt, has been increased to 14% from 10%.
This is superb change. Effective 1 April 2025.
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Journey of a bank RM -
1. Start with a bank after MBA.
2. Gets some accounts allotted by the branch.
3. Touch base with existing clients and introduce himself.
4. Open new through walk-ins and references.
5. Focus is on sales - insurance, loans, bank accounts
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Here’s my strategy to avoid 20% TCS -
Only travel to places where you have friends / family.
Borrow local currency from them and transfer money to their NRO accounts in India.
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My god - Axis bank is the worst.
They blocked my wife's account which is her salary account.
Reason - she has two customer IDs.
Now we are not able to access net banking or mobile banking.
Raised request with RM, Branch, and on phone.
It's been more than 2 weeks. No
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If you have a star or CARE policy, you know what to do :)
PS - DM us for porting. Possible 45 days before renewal.
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Once you’re married, there is no point in telling the world that your spouse is your valentine. We know.
I’d definitely want to know if it’s someone else.
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It’s a stupid idea to chase returns with a small capital.
You need more capital before returns. Capital can come through leverage or aggressive savings. But 100% returns on 1 lakh is just 1 lakh.
Don’t waste time chasing returns when your capital is small.
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A few people asked me to share my experience in Baku (I’m not lying ok).
So here is how it went -
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Sir, there is an amazing policy where once you pay 5 lakhs for 10 years, you will get 5 lakhs per year for the next 15 years.
🆑Take my money boss😍
Sir, start SIP of 1 lakh per month. Expect 10-12% returns and liquidity.
🆑Let’s start with 50,000. I have other commitments.
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Airport Lounges have been ruined in India with everyone having access to it.
Why are well to do people still too bothered about lounge access?
Find a good restaurant in the airport. Spend some money if you’d like. Or don’t.
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If your annual income is more than the average annual returns generated by your portfolio, you still got work to do.
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Why not tax everything at once and end it.
Everything goes for a toss with such random amendments.
You can’t give 7 days notice for people to make changes in their plans.
1 February is a joke.
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Hi
@rachana_ranade
your recent reel on Instagram about SIP cancellation has led my clients asking if their sips will be affected.
It would be great if you could not create a sensation with everything. Starting the reel with “All your SIPs…” is just isn’t right.
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Requesting print media to write about the scam that is VFS 🤓
Pay 1900 to book a slot.
Reach the center. If you’re carrying a bag, you have to pay 200 to deposit your bags.
Once you enter, someone will try to sell you the premium service. Because they have built a fancy
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An iPhone will never pay your hospital bills.
No health insurance, no emergency funds, no major investments but a big phone, car or bike are a common feature.
Prioritise risk before status.
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So if you bought a property at 50 lakhs 10 years back which is valued at 70 lakhs today.
Earlier, with indexation, this would most likely be at a loss if sold today.
Now you have to pay 12.5% tax.
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Amitabh Bachchan has a massive work ethic at the age of 80 and you want early retirement before 30 😂
Seek financial freedom. Do what you love and monetise it. Early retirement only sounds good.
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Folks who invest in US directly from India, how are you planning to protect your family from inheritance tax?
Please don’t say you will be dead so you don’t care.
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It's a myth that a monthly salary cannot make you rich.
//Thread//
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If you spend anywhere north of 50k per month, not using credit cards is costing you 18k per annum in rewards at a 3% reward rate.
This could be much higher if you start using the right cards.
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Time to do it.
Notes from
@morganhousel
's "Psychology of Money" with my commentary.
This is going to be a long one. Brace yourself.
👇👇👇
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Current mutual fund portfolio has an XIRR of 19.8%.
Money doubles every four years at 18%.
The funds I’m invested in have cash in their portfolios.
Pick stocks only if you’re extremely passionate. Mutual funds are good for everyone else.
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If your net-worth is 5 cr, why do you apply for one lot in an IPO?
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You buy a house on 80% borrowed funds. You borrow more money for a house warming ceremony to tell everyone that you bought a house on borrowed money and that you are going to slog your entire life to pay that money.
You have fallen in the debt trap.
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Someone I know got a tax notice to share proof for 80C and 80D investments 🤓
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RJ does not know what he is doing. He should have checked with us on twitter.
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Just saw that one of the funds has finished 11 years in my wife’s account.
13.3% XIRR.
Not a big allocation here but a decent example of power of doing nothing.
This fund isn’t an investor’s favourite.
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I have slowly moved from a spender on luxuries to a spender on financial freedom.
My post on how i think about money.
@Gautam__Baid
@FI_InvestIndia
@safalniveshak
@VijayKedia1
@VenkateshJayar2
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I will continue to add to PPF as a part of debt component of my portfolio.
The tax free compounding 20 years later is going to be massive.
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A distributor made my wife start investing in the IDFC Flexi Cap Fund in 2012. She started the SIP in 2012 and continued till 2017.
We have not redeemed any money from it yet.
XIRR - 16.14% today.
Sticking is important.
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Two incomes is better than one.
So whoever you marry, make sure that person has 2 sources of income.
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Start with Delhi, end with India.
If your family income in Delhi is 1L/month. And, if you are a family of 4:
Tax= 20K
[1] House Rent: 25-30K
[2] Monthly grocery: 15K
[3] 2 kids school fee: 10K
[4] Utilities: 10K
[5] Transport: 5K
[6] Misc: 10K
You are left with 0 savings.
Less than 10% India earns 1L.
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So Akasa air has conveniently canceled both leg of flights to Goa.
They messaged about the cancellation for the onward and haven’t said anything about the return cancellation.
When called to ask if the return is intact, they said no it’s been cancelled and they were not
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After my dad passed away and I suddenly had a responsibility , we just parked the money in fixed deposits. The decision seems brilliant in the hindsight as the knowledge about personal finance was quite low.
Moral - when you don't know much, do the simplest thing possible. Thank
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Bank relationship managers don't know banking.
They only know one thing - making a fool out of client and sell the most ridiculous products on Earth.
The lady who is my wife's RM couldn't even figure why her account got suspended. We got to know only when we walked into a
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Never rely on your employers health insurance.
Some reasons as follows (3 is most important) -
1. Your job is not permanent. Insurance lasts till your job lasts.
2. Private insurance is only available to healthy people. If you are unhealthy at the time of purchase, you may not
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As your net-worth goes up, you should stop thinking about expenses below a certain limit.
You can make a threshold. Say 0.01% of net-worth.
If my net-worth is 1 crore, I shouldn’t think much before spending anything below 1,000.
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Axis is a classic case study to understand how not to do credit cards business.
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@AxisBankSupport
Are you sure you can help? Because we spoke to more than 5 people in your bank already
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The number of tweets on 20% TCS has exceeded the number of people who travel internationally.
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Spent last 4 days in Goa. A few places I’d probably go back the next time -
Coffee -
1. Babka
2. Grind bar
3. Padaria Prazeres
Breakfast
1. Baba Au Rhum
2. Artjuna
3. Eva cafe (couldn't go this time since it was closed for Monsoon but I love it)
Lunch / Dinner
1. Jamun
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A client who would spend most of her income has accumulated 50 lakhs in mutual funds in 2.5 years.
Once accountability begins, life completely changes.
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For us, it's not a problem financially.
How about those who only have one account and are fully dependent on their salary.
How would they take care of it?
Hi
@RBI
- kya mazak bana rakha hai? 😃
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Influencers are in the market to make money for themselves. You were stupid to think that they are working towards your interest.
You lost money, who is to blame?
You are responsible for your money. Every time investors lose, we ask for regulations and not better education.
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Went to buy gold at Tanishq yesterday.
They have a gold coin vending machine now. In and out in 5 minutes.
Reminds me of the stories from UAE about gold vending machines.
India 🚀
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How to select a good health insurance?
Must have features -
1. No room rent limit
2. No icu limit
3. Cover for consumables
4. Air ambulance cover
5. No co payment
6. No sub limits for treatments
7. Low Pre existing waiting period
8. High Pre and post hospitalisation cover
9.
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A few expenses that have been totally worth it for me and the family -
1. A safer car. One which promises safety and has delivered it.
2. A good chair - you use it for most of the day.
3. A standing desk - if you don't get workouts, you should definitely stand for some part
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Mutual fund investments are so boring.
Doesn’t give you an opportunity to talk about multibaggers, dividends, upper circuits, moats, and many more things.
Such a boring way to make money.
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She went to McDonald’s to just buy a bottle of water. Class!
As I wait for a bottle of water in the queue - this is what I see MOST people ordering !
No Wonder over weight ,obesity & most metabolic diseases are on rise .
I realise we have come very far away from REAL FOODS !!!
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Banking would become truly world class in our country when you could close accounts online.
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Seems like folks are worried about PPFAS's allocation to Meta and the likes.
Before getting worried, look at the allocation and the impact.
Thank your stars that RBI did not increase the limits.
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Buffet sent this to
@MohnishPabrai
after reading the Dakshana annual letter.
Read the letter here -
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Why do I like credit cards?
Let me share a recent example -
The family has to goto Dehradun in December for a wedding. Unavoidable.
Tickets are obviously expensive 2 months in advance due to the holiday season.
So the approximate cost of 4 return tickets is INR 60,000 which
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My grandfather is one of the strongest person I’ve come across.
He is undergoing a surgery today and is supposed to fast for 12 hours before surgery.
Last night he asks us why we didn’t give him any food. When we told him he had to fast, he said “no problem, I’m not hungry”.
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2. Buy quality when it comes to things I use daily.
A good chair & a good mattress are some examples. No compromise on quality for things that have long term impact on health. I have a Featherlite chair and a standing desk.
Good footwear is another example. Nike, Birkenstock.
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Outcome of 50,000 per month SIP at 12% annual returns in different scenarios -
No annual step up - 4.6 crores
10% annual step up - 9.3 crores
15% annual step up - 14.3 crores
What's possible depends on how fast you can increase your income. Most of us focus on returns from
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Every time i read something like this, I check if the handle is also selling a course and I have not been wrong so far 😂
My current investment portfolio is ~ 1 Cr, end 2025 🎯 is 5 Cr.
And 100 Cr by 2030 🎯.
I keep investing my trading profits, use only dividend, interest & LTCG (1 Lakh/yr) towards consumption needs.
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I’ve been saying out loud -
1. Buy the maximum insurance possible. My own cover is worth 1 crore.
2. Buy early. Once diagnosed with diseases, it’s difficult to buy one.
3. Don’t find the cheapest product. Quality product comes at a cost.
4. Stick to the same insurer.
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Hi Bajaj finance, I don’t want loans at 830 AM in the morning 🤬
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Have been reading quite a few articles from
@morganhousel
from his
@themotleyfool
days. Few learnings and links -
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I stayed 2 nights at Al-Maha last year completely funded through credit card points.
5600 AED per night absolutely free for us. Amex made it possible for me. Get your amex cards using the following links.
You get a bonus reward and first year free.
There is a bonus too 👇🏻
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Don’t depend on your children for your retirement.
Your kids owe you nothing.
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People holding real estate worth crores worry about appropriate allocation of an SIP of 10k is the funniest thing you’ll ever hear.
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TCS exemption Upto 7 lakhs on CC spends.
Woohoo! Twitter outrage works.
Do we want 2000 rupee notes? Discuss.
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My personal health insurance has a sum insured of 1 crore with an annual premium of 23k.
Cover extreme events risk at small cost 🧘
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No matter how much we advance in technology, visiting a bank branch is always going to be a nightmare in India.
I’m here at an ICICI bank branch to get physical statements for visa.
They want Aadhar copy for validation of my identity. Original pan copy is not acceptable.
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I did something which a lot of you might find silly 🙈
I walked 50,000 steps in a day in Baku 🚶♂️
Started a bit late at 8 Am and ended around 1130 PM with lots of good food breaks in between. Running was not allowed.
Had lots of good food, coffee, and some wine in between.
It
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If I could go back 10 years, I would avoid the following -
1. Buying expensive gadgets
2. Replacing my car
3. Taking fewer holidays
4. Spending time with people who never mattered
5. Staying in 1 job for years
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The funniest thing you’ll ever see.
My hunch is that this will be rolled back soon 😅
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If your monthly savings rate is at -
25% - 10 days of freedom.
50% - 30 days of freedom.
75% - 90 days of freedom.
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Most couples who have a girl child do not invest in Sukanya Samridhi.
Its an excellent vehicle to save as much as 65+ lakhs!!.
This is what you need to know -
1. The child must be 10 years or less in age.
2. Min deposit of 250 and max deposit of 1.5 lakhs
3. Current interest
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You didn’t lose anything. Those people wouldn’t have paid anyways.
You now have an email list that you can use to sell things later.
I lost 25 Lacs! 🔻
You read it right….I gave away 5000 seats to my 4.8/5 star rated masterclass to those who said they can’t afford it as a goodwill gesture.
But the results will shock you👇
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5. Don’t compromise on things that carry a risk of life
Cars - buying a car that will protect you in an accident is more important than focusing on features. One with six airbags, 5 star Ncap rating.
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In my opinion, nothing beats the following -
a. Index funds for equity
b. Liquid funds for debt
As simple as it can get. It can take a lifetime to understand this.
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My personal finance advise for you -
Focus on the big picture. Always.
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I don’t like gold prices going up.
It makes my mother question all other forms of investments.
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If india wins today, I will do a one hour call and explain everything I know about credit cards with one person who can RT, Like this tweet and follows me.
Go India go 🚀🇮🇳✨
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Should I do a thread on the highlights of Vietnam?
It’s quite cheap.
People are really good.
Weather is decent.
It has some amazing food.
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I called axis to see if they offered any points for retention of Magnus. They said, once you clear your balance, you can close your card.
#FML
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8. Most important - value for your time.
Outsource whatever you can. Household work. Groceries. Tax returns.
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A client heavy in debt due to two home loan EMIs was living pay check to pay check with no space to breath. We convinced him to sell one of the properties to create more room in income and create liquid assets. He executed the plan. 💪🙏
Sleeping well is more important.
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One Indian company features in the top 7 list of holdings of Guy Spier's fund.
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Here is how to play credit cards.
We got a new Vistara infinite card for my wife. Got a free business class ticket.
Spent 1 lakh on it towards NPS investments for FY 23.
Got 14,000 points on total spends (10k on spending 1 lakh in 90 days)
Booked 2 economy tickets to Delhi an
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I’ve been an unfit person for most of my life. My peak weight was 103 kg at one point in life.
While I’ve been on and off since the age of 25, took running seriously in 2020. I’ve run 5 half marathons since then.
Preparing for my first full in December 2023.
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How will I save 20% TCS?
Spend in India and earn miles and points.
Use these miles and points for foreign trip redemptions.
No expenses. No TCS.
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3. Don’t spend much on things that need changing every few months and do not impact your health.
Clothes. I buy cheap. Change every few months. Don’t sweat on what to buy. Blue jeans and round neck tees mostly. Tees from cotton world, M&S.
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