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- किरण भावे, अर्थस्वातंत्र्य संचालक, AS-44.com
२७ सप्टेंबर २०२५
कधी तुम्ही हा विचार केला आहे का की तुमच्यासाठी “अर्थस्वातंत्र्य” म्हणजे काय?
. बँकेत अमुक कोटी रुपये असणे
. दर महिन्याला काम न करता पैशांचा ओघ सुरू राहणे
. की मग हवं तेव्हा उठणे, हवं तेव्हा प्रवास करणे आणि कोणीही तुम्हाला “उद्या ऑफिसला लवकर या” असे न सांगणे
या सर्व गोष्टी अर्थस्वातंत्र्यामध्ये अंतर्भूत असल्या तरी बहुतेक लोक “अर्थस्वातंत्र्य” याचा अर्थ आर्थिक ताणतणावापासून सुटका असे समजतात, आणि ते खरेही आहे.
हा दिवास्वप्न वाटेल असा टप्पा गाठणे “अर्थस्वातंत्र्य” (AS-44.com) च्या रचनात्मक पद्धतीद्वारे सहज शक्य असले, तरी ते मिळवण्यापर्यंतचा अनेक वर्षांचा प्रवास देखील आनंददायी का नसावा?
काही लोक या प्रवासात स्वतःला कैद करतात. “मी एकदम बचत करणार, खर्च पूर्ण थांबवणार, मग १५ वर्षांनी मजा करीन” – अशी त्यांची भूमिका असते. पण, १५ वर्षांनी तुम्ही अजूनही “मजा करण्याच्या” मूडमध्ये असाल याची खात्री आहे का?
अशा जगण्याला आपण “दात कोरुन पोट भरणे” म्हणतो.
कल्पना करा—तुम्ही इतकी काटकसर केली की आजचे आयुष्य तुम्हाला तुरुंगवासासारखे वाटू लागले. “ना रेस्टॉरंटस्, ना सिनेमा, नाही सुट्ट्या, नाही पार्टी, नाही प्रवास” — फक्त काटकसर आणि गुंतवणूक. आणि या प्रक्रियेत तुम्ही हळूहळू आयुष्यच जगायचे विसरून जाल. उद्याच्या “स्वातंत्र्यासाठी” आज तुरुंगात रहायची गरज नाहीये.
अर्थस्वातंत्र्याचा प्रवास हादेखील स्वतःच एक आनंददायी अनुभव असावा. म्हणजेच, प्रत्येक टप्प्यात तुम्हाला आनंददेखील मिळायला हवा. आर्थिक शिस्त आणि जीवनातील मजा या दोन विरुद्ध गोष्टी (Mutually Exclusive) नाहीत. त्या एकत्र अनुभवता येतात.
उदा.
एखादा छानसा प्रवास करा, पण त्याला “बजेट फ्रेंडली” बनवण्याचा खेळ खेळा.
बाहेर खाण्याचा मोह आवरायचा असेल तर आठवड्यातून एकदा घरच्यांसोबत “रेस्टॉरंट स्टाईल” डिनर करा.
खर्च कमी करण्याला शिक्षा न बनवता एक चॅलेंज बनवा—”या महिन्यात १०% अधिक बचत करू शकतो का?”
यामुळे काय होतं?
तुमचा प्रवास हा एखाद्या खेळासारखा होतो—आणि खेळताना आपण थकत नाही, उलट त्यातील छोटी छोटी उद्दिष्टे साध्य केल्याने उत्साह वाढतो.
इथे मला माझा एक अनुभव आठवतो.
माझे अर्थस्वातंत्र्य मिळवण्यापूर्वी मी ठरवलं होतं की, “पुढचे दोन महिने एकही रुपया फालतू खर्च करायचा नाही.”
सुरुवातीचे काही दिवस छान गेले. मग एक जवळचा मित्र म्हणाला, “चल, बाहेर कॉफीशॉपमध्ये जाऊ या.”
मी लगेच नकार दिला. पण नंतर लक्षात आलं की खरी गोष्ट कॉफी नव्हती – तर त्या गप्पा, तो क्षण, ती भेट महत्वाची होती. आणि ती तर साध्या इराण्याच्या चहाने सुद्धा साध्य होणार होती.
तेव्हा मला जाणवलं—मी पैशांची बचत करतोय, पण त्याबरोबरच आयुष्याचे मौल्यवान क्षण गमावतोय.
आणि तेव्हाच मी नियम बदलला:
“पैशांचा खर्च करायचा, मात्र त्यात जाणीव ठेवायची.” म्हणजे प्रत्येक खर्चामागे कारण स्पष्ट असलं पाहिजे.
ज्यांनी माझे “अर्थस्वातंत्र्य” चे सेशन ऐकले आहे, त्यांना आपल्या अर्थस्वातंत्र्यच्या ३०-३०-३०-१० या magic formula बद्दल माहित आहे.
३०% बचत व गुंतवणूक, ३०% गृहकर्जाचा हप्ता किंवा गृहकर्ज नसेल तर आणखी गुंतवणूक, ३०% आवश्यक खर्च, आणि १०% फक्त मनोरंजनासाठी.
हे १०% मनोरंजनासाठी वेगळे ठेवले आहेत, कारण प्रवास मजेदार ठेवणंही तितकंच महत्त्वाचं आहे. जोपर्यंत तुम्ही ढोबळ मानाने हा फॉर्मुला पाळत आहात, तोवर तुमचा प्रवास योग्य दिशेने होत आहे याची खात्री बाळगा.
या प्रवासात तुमच्या जोडीदाराची साथ अत्यंत महत्वाची आहे, कारण तुमच्या आजच्या या कृती आपल्या कुटुंबाचे भवितव्य ठरवतात.
मित्रांनो, अर्थस्वातंत्र्याचा हा प्रवास एखाद्या मॅरेथॉनसारखा आहे. तुम्ही ४२ किमी धावत असाल आणि प्रत्येक पावलावर “कधी संपणार” म्हणून कुरकुरत असाल, तर तुम्ही स्वतःला छळत आहात. पण जर तुम्ही प्रत्येक टप्पा एन्जॉय करत, मधल्या क्षणांचं कौतुक करत, लोकांना हात हलवत धावत असाल, तर तो प्रवास तुम्हाला आयुष्यभर लक्षात राहील.
एखाद्या प्रवासात गाणे, गप्पा, आवडत्या लोकांचा सहवास आपल्याला प्रवासाचा इतका वेळ कसा गेला आणि आपल्या इच्छित स्थळी कधी आलो, हे कळत नाही.
तुम्हाला अर्थस्वातंत्र्य हवंय का? नक्कीच हवंय!
पण त्याहून महत्वाचं म्हणजे — तो प्रवासदेखील मजेदार करणे तुमच्या हातात आहे.
आजपासून ठरवा—
“मी केवळ अर्थस्वातंत्र्य मिळवणार नाही, तर त्या मिळवण्याच्या प्रवासातील प्रत्येक दिवसदेखील आनंददायी करणार आहे.”
आणि बघा, तुमचं आर्थिक स्वातंत्र्य मिळवणं किती सहज होतं ते!
तुम्हाला हा लेख कसा वाटला ते मला WhatsApp वर नक्की कळवा!
— किरण भावे
अर्थस्वातंत्र्य संचालक, AS-44.com
२७ सप्टेंबर २०२५
9322324698 (Whatsapp)
-Kiran Bhave, Financial Freedom Director, AS-44.com
Applicability:
FY 2023-24
If you already hold any of the following for more than 1 year.
– Direct Equity stocks
– Equity Mutual Funds
Tax harvesting in simple words is utilization of the tax exemption given for Long Term Capital Gains on Equity investments to your benefit and maximizing your wealth.
As per current Income Tax rules for AY 2024-25 (FY 2023-24), Long Term Capital Gains (LTCG) realized on equity based investments, during the financial year up to 1 lac is completely taxfree.
You will realize LTCG only when you hold Equity for more than 1 year and sell it during the financial year.
When to do?
Once in an year, preferably close to end of financial year like in Jan, Feb or March month (JFM).
Why to do?
Short answer is to earn more Income!
Let’s see an example. Suppose you invested 5Lacs on 1st January 2023 and it has now grown to 6Lacs giving 20% CAGR. Consider you want to withdraw that amount next year and expect it to grow to 7Lacs.
(Please note that this is just an mathematical illustration to understand tax harvesting. Equity investments shouldn’t be done for 2 years’ time horizon).
So if you book your investments next year after 1st January 2025, you will realize Long term capital gain of 2 lacs and therefore you will incur LTCG tax of Rs. 10000 = 10 % of (2lacs – 1lacs exemption).
But with tax harvesting, you will book the profit of 1 Lac this year by redeeming the entire amount of 6Lacs and reinvesting again the entire 6 Lacs back into the same equity mutual fund/ stocks. Now next year, if it grows to 7lacs, Next year again the LTCG will be 1Lacs (7lacs – 6 lacs) and you will have 0 LTCG tax next year too! So, you saved Rs.10000 worth taxes in just 2 years timeframe. For multiyear scenario, you would keep saving taxes in such a way.
What to do?
If you are a wise equity investor, you should have an annual review of your portfolio anyways in these months. So here are the steps to do (Take help of your financial advisor, if you are not comfortable doing it yourself)
- Check if you have already redeemed equity mutual funds / sold equity shares in the current financial year and LTCG received from it. This can be seen from your portfolio report. Let’s call this as Gain1.
- Identify the Investments (that completed 1 year from date of investment) that fared well and that did not do good during the year.
- Now weed out bad investments, even if that means taking losses, because keeping a bad apple with you for a long time will start stinking! Let’s call this as Loss1.
- If [Gain1-Loss1] itself is >= 1 Lacs, you don’t need to do anything further, as you have already utilized the tax benefit.
- Now find the shortfall which is [1Lac – (Gain1-Loss1)]. Let’s call this as Harvest1. Identify your best Investments that grew good and have unrealized long term profit equal to Harvest1.
- Redeem this Equity Investments so that your overall LTCG is 1lacs
- Immediately, re-invest the amount redeemed in step 6 again back into same equity fund / stocks or other good equity investments that have equal or more potential to grow. This is important as you are a long term equity investor and your financial goal is yet not reached.
- Enjoy your Tax Harvest without hampering your long term investments or goals!
Questions?? Comments?? Ask me now!
-Kiran Bhave
Financial Freedom Director, AS-44.com
When I resigned from my reputed job at LTI, I was quite sure about my plan. However, as a responsible project manager, one always needs to track planned vs actual and make up for the differences, if any.
In continuation with my previous article, I’m happy to share with you that on 28 Feb 2023, I completed 5 years of successful अर्थस्वातंत्र्य (financial freedom)!! By the way, अर्थस्वातंत्र्य is much more comprehensive than mere financial freedom, it encompasses Health & Happiness too, will write another article sometime later.
So, what’s the scorecard? This is how I fared last 5 years.
My lifestyle – is elevated to the next level. Unlike many who expect that after “retirement”, you’ll need to cut down on your lifestyle expenses, I’m celebrating more than before because of the availability of time. I have also added quite a few healthy ingredients to my daily living to stay fit, healthy & happy!
Family, Friends, and relationships
As far as my family life is concerned, it’s enriching as I’m able to reach out to my relatives and friends like never before. My traveling has increased and so have the joy and happiness!!
Tours & Travel
As per the financial goals mapped in my planning, in the first year of freedom, we availed of 15 days tour in Dubai and 7 days leisure water sports tour in Kokan, Maharashtra. Within the last 4 years, I have traveled to so many places inside and outside of Maharashtra, including a foreign trip to Switzerland in the achievement of MDRT.
Learning & Growth – Your experience seldom counts if not backed by qualified certification. In the first few months, I went on a spree to get myself certified in financial acumen to endorse my wide experience in various personal financial instruments. Although my experience is sufficient, I felt this endorsement was necessary for me to guide my friends who would like to follow my steps. So, this is what I’ve achieved so far.
In the first year of my Financial Freedom, I passed the following exams
| Exam Name | Date | %age | Exam Body | Governing Body |
| Investment Advisor – Level 1 – XA | 7 March 18 | 84.75% | NISM | SEBI |
| Investment Advisor – Level 2 (Highest) – XB | 22 March 18 | 77% | NISM | SEBI |
| Life Advisor – IC38 | June 18 | 72% | III | IRDA |
| MF Distributor – VA | November 18 | 81% | NISM | SEBI |
I became MDRT 2019 which is the insurance industry recognition for higher achievement.
I also became an Author in the SEBI-NISM joint conference named CLSM (Changing Landscape of Securities Market) in February 2020 and presented my paper on “Financial Freedom – a need and not a dream”, under the category of Personal Finance.
Continuing my commitment towards continuous learning, I added a few more credentials as follows (apart from numerous certificate courses on various topics related to finance)
| Exam Name | Date | %age | Exam Body | Governing Body |
| MF Distributor – VA – CPE | July 21 | Pass | NISM | SEBI |
| CERTIFIED FINANCIAL GOAL PLANNER (CFGP) | September 22 | Pass | PGP Academy | NSE Academy |
Financial Status
This one is for many of my well-wishers, who are still unable to digest my decision.
As I said my lifestyle cost is elevated because of the travel that I’m doing and celebrations that I’m participating in with different groups of friends. I do my financial health check-up every 3 months and I found that I’m still at least 5% in excess in my kitty to be spent from the monthly expense basket!!
Remember friends, this is despite the stock market Corona blowout during March 2020 where many well-to-do people got affected. For getting the conviction that I have, one must study how the stock market works and why investing in mutual funds turns out to be the safer investment over longer periods. If you are a regular reader of my articles, you would get the essence of the same.
Net Worth
I am opening my cards here! In Financial Terms – My net worth has doubled as compared to 5 years ago. It is interesting to know that this is despite of negligible active income and after consumption of 5 years of elevated lifestyle expenses. This is the true essence of अर्थस्वातंत्र्य.
Above chart will depict the relative performance of my portfolio and Net worth. Those who really want to study how it really works and do DIY investments, this chart actually answers a lot of questions.
Passion and Happiness
Besides, Now I’ve discovered few of my passion areas and re-connected with my hobbies in natural farming, composting, Healthy & Natural living, electronics, and so on. I’m also helping my friends to achieve financial freedom.
Yes, I am occupied, but with the things that I love to do, not with someone dictates me to. My latest interest I got reconnected was singing (discreetly that is ;)), credit goes to one of my friend. Also, another important activity that I am involved actively now is about Health – Natural Living and helping people reverse their ailments ranging from BP, Sugar to Cancer. It gives me immense satisfaction when I see people becoming free of diseases without doctors, costly tests, and medicines!! A topic close to my heart!
Friends, the purpose of this note is not to make you jealous but to create a dream in your mind that you all deserve to live this kind of dream life, full of Health, Wealth, and Happiness. All you need is discipline, commitment, and action. I’m always there to help n support you!
Have you started yet?
Kiran Bhave
Financial Freedom Director, AS-44.com
by Kiran Bhave
Financial Freedom Director
AS-44.com
How lucky do you think you are? Who do you think is the luckiest person on Earth?
Is it Mr. Ambani or Mr. Warren Buffet, who have an enormous amount of wealth?
Or is it Mr. X in Okinawa, Japan who has crossed 110 years of age and is still leading a healthy life with no illnesses?
Or is it that poor unnamed child on the street whose parents have abandoned him, but for no reason is smiling brighter than you – who is watching him from your air-conditioned car?
You are living a comfortable life. You have a home to come back to, a family, bank balance. Despite that, you cannot smile as worry-free as that child.
You cannot smile because you are getting late for the office, although you’re leaving early to attend that critical client meeting that will bring millions to the company. You are stuck in traffic with no range, unable to contact anyone to tell them you’re running late or instruct them to start the meeting without you. In such a dire situation where your job is at stake, how will you smile?
Now, although you probably can’t decide who is the luckiest among the three, you will surely say _you_ are unlucky.
There are many such situations life throws at you.
You are leading a very healthy lifestyle, people are complimenting you, perhaps envying you for being so healthy and suddenly you are diagnosed with a dreaded disease that is only seen in people who make poor lifestyle choices. Now you cannot even face those friends or share with them that you are diagnosed with such a disease for the fear of what they would think?
How can you call yourself lucky when you are faced with such situations day in and day out?
But wait, are you saying that you are unluckier than even that poor child who doesn’t even know if he get food tomorrow? Do you really believe that that homeless, orphan child is luckier than you?
Friends, I want to reveal a secret to you all. Whether you believe it or not, *YOU* are the luckiest person on Earth, just like *I* am the luckiest person on Earth. 😂
Now you’ll say “Stop with the jokes, Kiran. You don’t know anything about my life” or “You don’t have any clue about what I am going through right now” and so on.
I am sure you have tough problems at hand to solve, you may be in adverse situations and life may not be as easy as poets make it seem. But that doesn’t mean you are unlucky.
Let me elaborate. When I say I am the luckiest person on Earth, I don’t mean I only have positive experiences. But, even in adversity, I believe I’m the luckiest. This is because my circumstances could be even worse than they are now. This mindset of being the luckiest gives me the strength to recover from my current situation quickly or the courage to accept the condition, no matter how grave the situation is.
Let me give you an example. About 6 months ago, when I bent down to pick something up, a sudden unbearable pain broke in my lower back and I collapsed running into the bed. There was no comfortable position where the pain would become endurable. Even a slight movement multiplied the pain a 100-times. Going to the hospital in an ambulance was out of the question, as I was unable to move my body. After my wife arrived three hours later, she called the doctor and he sent a nurse with a painkiller injection, but there was no relief. So I spent 2 days at home, before finally getting admitted to the hospital.
Now imagine how much worse it could have been. It could have happened outside my home. My daughter was with me at the time, but it could have happened when I was alone. The week before I was at my native place enjoying the fields. Imagine it happening over there. In what way, can I complain I was unlucky?
I believe strongly that there is an unknown higher power who always takes care of all of us unconditionally. You must believe in this theory, acknowledge it and accept its decisions as what life throws at you are for your betterment only.
Now finally to answer your brain’s question, there can only ONE luckiest person on Earth, so how can everyone be luckiest?
To answer this, luck is subjective. It is not quantifiable. Someone said very beautifully that there is only ONE most beautiful child in the world and every mother has it. Luck should be viewed the same way.
So know that YOU are the luckiest person on Earth.
Live a miraculous life ahead.
Wishing you pure happiness!
-Kiran Bhave
Financial Freedom Director, AS-44.com
19 March 2023
Friends,
On 28th February 2023, I have completed 5 years since I resigned from my prestigious and stable job at L&T Infotech (Now LTIMindtree).
True to my conviction, L&T was my first and last job. Instead of working for money, I now work for pleasure and the gratification of helping others, giving me a meaningful life.
So, on this 5th anniversary today, I am sharing my life story with you.
In late 2017, I was completely prepared to quit my job, as my financial freedom target was already completed in 2016. However, it took me 2 long years to contemplate the “softer aspects”. In a way, I lost 2 years of my life just to tackle these aspects. We will come to it later.
I used to share my plan with my friends, but the conversations would go like this.
“Oh, why are you quitting after 22 years of stint in a world-class company like L&T? Are you a victim of corporate politics?”
“No, I have the best boss and a fantastic team that one can imagine in corporate life!”
“Well then?” The asker is visibly astonished. “So, you have got a good offer, huh?”
“No, I won’t be doing any more jobs”
“So, you are taking a sabbatical for some time, it’s good for you to be away from the stress”
“Well, I do not have much stress in my work life, but this job is not something that I’d like to do for the rest of my life. So, I won’t be doing it any more!”
“What? How will you manage? Your daughter is yet to pass her board exams. Her education, marriage? Even if you take a break for a year or two, how will you live without the salary?”
“Well, I won’t be working for money anymore, and it’s not 2 years. As far as my calculation goes, I won’t need to work at least till I am 70 years old.”
“Lottery लग गयी है क्या? कि दूर के मामा की estate मिल गयी? (Did you win any lottery or have inherited properties from a remote uncle?) Is your wife earning a hefty salary?”
“Nothing of that sort. My wife has a noble profession. She is a teacher, but she quit her job due to medical reasons and now they are offering a low-profile job. I told her no more compromises from now on! So, both of us will become free (aka jobless 😄), once I quit”
Further conversation would become much more difficult for my friends as they have never come across an instance such as this. They would simply assume I’ve gone insane!😄
But when I put up my resignation (You can read my note to my friends on my blog, as-44.com), my best friends started panicking! Although they didn’t show me in front of me about their panic, I could feel it. They thought it cannot be true and that I would take back my resignation, or at least get into another job within 6 months or a year.
That’s when I created my first material for the financial awareness session and presented it to my team to explain How and Why I am taking such a decision.
But the challenges did not end there. I had more emotional challenges which are what I call “softer aspects”. Let me tell you from my experience that these “softer aspects” are immensely difficult! In fact, I believe they are harder than getting financial freedom itself. It is about how you manage your self-talk, orient your decision, and have convincing answers to all the worldly questions.
Let’s get to that one by one!
- Now you will be 24×7 at home with your wife. What else can you do without poking your nose in her job and picking up fights with her on petty issues 😄?
The video I shared earlier on this Whatsapp AS-44 group would answer it to a great extent! (To join my अर्थस्वातंत्र्य Whatsapp group, pls send me a WA message with your small introduction – your name, city, age, education, your job profile and your interests at https://wa.me/919322324698)
- How can you best spend your time being true to yourself and useful to others?
- What are your hobbies? Frankly, I had lost touch with most of my hobbies to such an extent that I had forgotten what I used to like and enjoy, I am sure your situation is no different. So this is something you should keep asking yourself every day, what would you be doing after you retire or take early financial freedom?
After seeing my conviction in my decision, most of my friends started asking me to teach them and enable them to take financial freedom. So, I found this activity interesting, meaningful, and useful too. But for that I felt, I must have a formal qualification.
Thus I started giving a series of SEBI-NISM exams for investment advisors, while my daughter was giving her class X board exam! I also started giving Financial Literacy sessions free of cost, which I am still doing, because I feel that most of my friends are not living the life they deserve and are unaware that they can do it too. I gave my sessions in NGOs where the salaries of employees were to the tune of 10000 a month. With my formula, they too are eligible for earning their financial freedom, if they wish!
The point is that even after earning financial freedom, you are still answerable to the following questions before you decide to quit your full-time job, and you must have the conviction to face and answer them. These are critical ones
- What will you do the whole day after you retire?
- What if your plan fails?
- Why do you want to leave the job and lose your monthly pay cheques?
- What is the good reason you are taking this ludicrous decision and putting your family at risk?
A handful of my friends are stuck in this situation. As I define it, financial freedom is the status of your personal finance. But leaving your job is optional. Because of having a lack of confidence in their plan, and lack of courage in answering the above questions, people still continue their stressful life, not knowing their dream life is awaiting them!
Just to touch upon question #2 above, which is the prime one in everyone’s mind, I’ll share my experience.
After I quit my job in 2018, the world really “broke” due to corona within 2 years, but I can tell you with pride that because of the financial freedom I earned, frankly I was not impacted at all. While many suffered job/salary cuts and business losses. Mind you, it is not a matter of luck, rather you just cannot leave your family’s future relying on luck.
Your plan must anticipate the unexpected! That is to say, you must always expect the “unexpected”. This is different from regular financial risk assessment.
When I see financial planners, they do not have any clue what to do in such scenarios.
Before I ventured on my journey, I took advice from 3 independent financial advisors, but none could confirm or reject my plan or could give any valuable suggestions. Later I realized that if those who are preaching “financial freedom” haven’t gotten the freedom themselves, how can they guide others?
Financial Freedom as a concept can be proven mathematically and I’ve proven it practically, too. So it’s a no-brainer to believe. But the additional delicate aspects are more daunting as they involve emotions.
Another significant soft aspect you have to deal with is losing your official title! That is something even retired people do not digest very well. You were holding your position at some organization. That gave you your identity, some authority, you had your place/cubicle/cabin/secretary, respect, your team, colleagues, and so on. Poof! and suddenly, all of this will vanish!
Now, when you are asked what are you doing? It becomes challenging to answer that! Since I chose to help others in this very path, for me “Financial Freedom Director” is answering that question! It doesn’t matter if I am earning anything from being that or not 😄. After getting your financial freedom, additional income is irrelevant. But it is certainly helping me quench the asker’s curiosity.
For me, my convincing answer is “I am nobody”😄 because, at the end of the day, that is the truth! That gives you an enormous amount of freedom and power to become anybody that you would like to become! No subject is limited to me now.
I have my answers to the remaining questions too! But that will make this article too long! So, that is the homework for you to answer. Whatsapp me your answers or where you couldn’t answer any questions. I’ll be glad to help you there, too!
Till then enjoy your life. Have an enriching today to create a better tomorrow!
-Kiran Bhave
Financial Freedom Director, AS-44.com
28 February 2023
https://wa.me/919322324698
Today, 28th February 2021, marks the completion of 3 years into my Financial Freedom! I had written a detailed article when I completed 1 year after taking अर्थस्वातंत्र्य @ 44. It still holds good. For those who want to read, It is available in this same blog.
Covid-19 Pandemic hit everyone’s life in the year 2020 and its aftermaths are still underway. Not only the street dwellers, but many well-off people were also affected because of the financial crisis that followed due to Global and Nationwide lockdown and the subsequent loss of businesses/jobs.
This was a critical test of everyone’s capability of managing their personal finances.
Many times, we take things for granted and assume that they will be there forever. For eg: We take our job, salary, increments, etc. for granted and plan to spend, as if the employer is obligated to keep our job, even if his business doesn’t do well.
COVID-19 pandemic added another big reason to prioritize achieving Financial Freedom at the earliest so as to ensure you won’t have to worry about the recurring expenses of your family that will continue to exist whether you are earning or not.
Every person saw their minimum monthly spending during the lockdown months! With restaurants, travel, and movie theatres non-operational, There was no way to spend for leisure expenses even if one had the money to do so!
2020 was a very good test of robustness and risk tolerance of my financial plan. I’m glad to share that with my years of study, discipline, and execution, there was nil to negligible actions I had to take to keep my plan intact.
One of the biggest advantages of my financial freedom was that I was able to help my friends, family, and society during the time of need, not only monetarily, but I could provide the much-needed physical time for families affected by Corona. It also helped me remain stress-free and mindful during the critical phase of lockdown when the world was looking in despair.
I also tried keeping up the moral of my friends by writing various articles on Facebook and my Whatsapp groups specifying how to sail through financially during these difficult times.
Here is another view of Financial Freedom. Life Insurance only pays when you are no more! What if you can create that sum during your working life span so that their survival doesn’t become dependent on that job, whose salary seems insufficient anyway?
You don’t need to be a Tata or Ambani to take care of your own family without having to work. That power is available to each and every person now and it doesn’t depend on your salary!
Yes, you should have started early, but it is never too late. So, take charge of your & your family’s life today and follow the simple steps of AS-44!
Or simply give me a call on 7977861550. I’ll be glad to help you out!
By Kiran Bhave
A scientist kept a frog in a pot with a cold water and set fire below the pot. Frog’s skin has an inherent capability to adjust the temperature with the surrounding so as to survive in wide range of temperatures. As the water became lukewarm, frog actually started enjoying it, then it became warm and it felt that this is the best place to be in as it is making it comfortable and had a sense of security also.
Now the things started changing, water started becoming hot, but as the frog believed that this place is secure and comfortable, it reassured itself that its temporary and adjusted his skin to the new temperature. As the temperature started rising further, making adjustments then became a part of habit till his limits of survival. But alas, finally, the water started boiling and poor Frog had lost all of its energy in adjusting its skin temperature and now it couldn’t even move and died.
The frog did have an opportunity. It was an open pot. Before it became Intolerable, it could have jumped out of the pot. But Frog went into COMFORT ZONE and continued making adjustments. For each adjustment, it spent precious life energy and finally it died as it wasn’t left with sufficient energy to jump out of the boiling water.
Friends, our life is just like this pot and remember nobody is going to PROMPT you to jump out of the pot or tell you which is the RIGHT time. You will continue to make adjustments with life and it then becomes a habit, a dangerous habit of tolerating the things life throws at you.
Why am I associating this topic in Finance? Let me elaborate. Whether you desire to get EARLY FINANCIAL FREEDOM or not, at 58/60, you will anyway be done with your monthly paychecks. Till then, you must do something different than what you have been doing so far with your finances, so that your investments should take care of you in the later phase of your life. You just can’t rely on your children to take care of you. In today’s fast life, they have their own life and struggle to live. They’ll be even more busy than what we are today.
You may keep procrastinating as finance is a boring topic to many or giving false justifications that everything is all right, but think of the day when your paycheck stops, how would you cope up with that for further 20-30 years. In most probability, your so called PF, gratuity, assets will last up to 5-10 years.
Another thing is that are you currently in the right place? Give it a serious thought. Are you living a dream life now? After talking to so many of my friends, the answer is probably negative. This is because you also have gone into warm COMFORT ZONE that will soon become hot & boiling.
So, you need to make 2 changes in your life as soon as possible. Get in touch with Arthswatantrya to understand how to manage your finances to get rid of / minimize the dependency on salary for your monthly family expenses and other financial commitments.
Look out for turning ‘what you like’ into your money earning engine. Of course, it’s not as easy as it sounds and it will also take some time to actually realize the same, but if you don’t even start now on these steps, the path ahead will only become steeper and steeper.
Start your journey by downloading the financial freedom templates from ‘What is AS-44?’ page. Many of you know that after earning my financial freedom at an age of 44, I’m now trying to help my near and dear ones to set them free as well. For that purpose, I also conduct 3 hours session on financial freedom which is in easy fomat to understand complex financial jargon. I currently do not charge anything for this as I feel its a social responsibility and it is based on my availability. So, gather minimum 8-10 of your friends, decide a place and call me at a time convenient to all.
Wishing you a healthy and wealthy life ahead!
-By Kiran Bhave
When I resigned from my reputed job in LTI, I was quite sure about my plan. However, as a responsible project manager, one always needs to track planned vs actual and make up for the differences, if any.
I’m happy to share with you that 28 Feb 2018 was my last working day in LTI and today I’m completing & celebrating 1 year of successful financial freedom!!
So, what’s the score card? This was my last year
My lifestyle – elevated to next level. Unlike many expect that after retirement, you’ll need to cut down on your lifestyle expense, I’m actually celebrating more than earlier because of availability of time.
Learning & Growth – Your experience seldom counts if not backed by qualified certification. In first few months, I went on spree to get myself certified in financial acumen to endorse on my wide experience in various personal financial instruments. It is the field I would be pursuing for me and my friends. So, this is what I’ve achieved so far
NISM (National Institute of Securities Market) is a SEBI (Securities Exchange Board of India) Enterprise – an arm that conducts examinations on various Stock Market related products and services.
IRDAI ( Insurance Regulatory and Development Authority of India) also has an examination body III (Insurance Institute of India) that conducts IC38 exam for in depth knowledge of Insurance.
Last year I passed following exams
| Exam Name | Date | %age | Exam Body | Governing Body |
| – Investment Advisor – Level 1 – XA | 7 March 18 | 84.75% | NISM | SEBI |
| – Investment Advisor – Level 2 (Highest) – XB | 22 March 18 | 77% | NISM | SEBI |
| – Life Advisor – IC38 | June 18 | 72% | III | IRDA |
| – MF Distributor – VA | November 18 | 81% | NISM | SEBI |
Coming back to family life, it’s really enriching as I’m able to reach out to my relatives and friends like never before. My travelling has increased and so has the joy and happiness!!
Financial Status
This one is for many of my well-wishers, who are still unable to believe in my decision.
As I said my lifestyle cost is actually elevated because of the travel that I’m doing and celebrations that I’m participating with different groups of friends. I do my financial health check-up every 3 months and I found that I’m still at least 5% in excess in my kitty to be spent from the monthly expense basket!!
Remember friends, this is in spite of the stock market crash in September 18 and the low level phase of uncertainty that may last for another 6 more months at least. For getting the conviction that I have, one must study how the stock market works and why investing in mutual funds turns out to be the safer investment over longer periods of time.
Tours & Travel: As per the financial goals mapped in my planning, we availed 15 days Tour in Dubai in April 18 and 7 days leisure water sports tour in Kokan in December 18.
Besides, Now I get more time for my hobbies that is city farming, composting, Healthy & Natural living, visiting and helping the less privileged, electronics and so on. I’m also helping my friends to achieve their financial freedom and I’m happy to let you know that one of my friend will be achieving that in May 19
I can just go on writing on this but one experience is that because of the freedom I got, We were the only parents among friends of my daughter who were dropping and picking her up during her 10th board exam in her crucial times.
Friends, the purpose of this note is not to make you jealous but to create a dream in your mind that YOU TOO CAN DO IT and I’m there to support you!
Thanks and have a nice day!!
My message to my friends
By Kiran Bhave
[15-December-2017, 10:21 AM] Kiran Bhave:
Friends.
I’ve a news to break with you.?
For some of you, this would come as a shock or amazement or disbelief
But, In line with my early financial freedom plan (many call it early retirement which is not correct) that I had been working on last 10 years, I dropped my papers on 1st December. My last working day will be 28th Feb 18.
For many, this is a bold and courageous step considering a single income family, no inherited property and a huge comfort zone, but I’m taking that step after a stint of 22 years in Larsen and toubro, and it did require serious planning and flawless execution for 10 years.
Just for your information, the planning is done in such a way that even if I do not work till my age of 70 years, my inflation adjusted daily family expenses will be taken care.
Sounds too good to be true? Hard to believe? Unlike other marketing material, this IS true?
Those who know me personally, I’m a risk averse person and do not take any action unless I myself is thoroughly convinced of the same?
Since you are one of my close friends, I’m sharing this with you.
And no, this is not a WhatsApp joke??
Kiran
[28-February-2018, 10:25 PM] Kiran Bhave:
Target accomplished ?