The 1% Club is India’s biggest finance community, 👫 helping people achieve Financial independence, a superpower 🗝️to never be controlled by money. 💰
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- Followers 2,434
- Likes 399
Where do Indians spend their money?
- Retail & shopping: 25%
- Groceries & daily needs: 12%
- Service & utilities: 12%
- Education: 6%
- Healthcare: 4%
- Travel: 3%
- Entertainment: 2%
- Other expenses: 10%
(Source: PhonePe)
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Today, we had a special Pooja ceremony at our new office in Mumbai.🙏🏻
It was a special events as we performed a Pooja to seek blessings for a prosperous future. ✨
Let's celebrate this exciting milestone together!💛
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We have officially inaugurated our new office space in Mumbai!🚀
The vibes are high and we're ready to make great things happen in our new space!
To commence this journey on an auspicious note, we conducted a small Pooja ceremony at the new office. 🙏🏼✨
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Indians are reserving their money into
- 49.4% Property
- 15.1% Bank Deposits
- 15% Gold
- 6.2% Insurance Funds
- 5.7% Provident & Pension Funds
- 4.8% Equities
- 3.5% Cash
Source: RBI
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Happy Birthday to our coolest bossss! @financewsharan 🥳✨
Wishing you a day as awesome as you are, and a year ahead filled with triumphs and high-fives! 🎈🎂
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The number of years it takes to double your money at different return rates.
2% - 36 yrs
4% - 18 yrs
6% - 12 yrs
8% - 9 yrs
10% - 7 yrs
12% - 6 yrs
Proves that every percentage point matters.
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50-30-20 Rule
Divide your income into
50% - Needs (Groceries, rent, EMI, etc)
30% - Wants / Desires (Entertainment, Luxuries, etc)
20% - Savings (Equity, MFs, Debt, FD, etc)
At least try to save 20-25% of your income.
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7 Reasons Retirement Planning is a Must
Discover why planning ahead is vital for a secure and fulfilling future 💼
A Thread🧵
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When it comes to personal finance, you need 3 goals to aim for:
- Less than 1 year goals
- 1-5 year goals
- 5+ year goals
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How did Ashneer Grover pave his way to a staggering net worth of ₹790 crores net worth? 👇💰
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Percentage of population investing in the stock market: 📈
🇺🇸 USA: 55%
🇬🇧 UK: 33%
🇨🇳 China: 13%
🇮🇳 India: Only 3%
(Source: Choice India)
What do you think is the reason for limited stock market participation among Indians? 💬
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🎯61% of Indians want the government job
🎯27% of Indians want to start their own startup
🎯6% of Indians want to do private job
Source: Naukri .com survey
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GDP 1992
🇬🇧UK: $1.2 trillion
🇮🇳India: $0.28 trillion
2022
🇬🇧UK: $3 trillion
🇮🇳India: $3.4 trillion
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Did you know?
India has the second largest freelance economy, with over 15 million freelancers.
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Individuals in India have invested over 140 lakh crores in fixed deposits, resulting in a collective loss of 5 lakh crores annually.
FD rate is approx at 5.5%
Tax rate: 30%
Post-tax rate of return: 3.8%
Inflation rate: 7%
Real rate of returns: (- 3.15%)
Source: Abhijit Chokshi
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If you make ₹42,10,749 yearly you are in the top 1% of the world.
(Source: The Financial Express)
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Unpopular opinion: the best thing people can do in their careers is to find a community of like-minded individuals.
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100 million Indians are earning ₹1 lakh or more per month and this is approximately 10%
Source: The Hindu
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Did you know?
India ranks 1st in digital payment transactions globally, ahead of China, South Korea, Thailand and the UK.
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Unfortunately, we are not posting videos today.
It's our video editor, Ashish’s birthday today!🎂🎈
Please join us in sending Ashish your warmest wishes and cheers as he celebrates his special day! 🥳
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Who wants to be a part of India's upcoming surge in wealth creation? 💰
A significant rise in India's ultra-high net worth individuals (UHNWIs) is expected in the coming years, according to a recent report by Knight Frank.
According to the report: 🧵
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“The stock market is a device to transfer money from the impatient to the patient.”
-- Warren Buffett
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“Saving is the gap between your ego and your income.”
― Morgan Housel, The Psychology of Money
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We're thrilled to share an exclusive first look inside our new office in Mumbai! 🏢✨
Our new office is more than just a workspace; it's a place designed for inspiration, collaboration, and growth.
Get ready for a new era of possibilities at our amazing new office. 🙌🏻
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Over ₹1,500 Crore 💸- that's how much Ranveer Singh's brand value is. He has surpassed Virat Kohli to become the most valued celebrity. 🤯
Want to achieve financial success like Ranveer Singh? 🚀 Discover the Power of Multiple Streams of Income! 💸
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“The stock market is a device to transfer money from the impatient to the patient.”
Warren Buffett
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How Malls Trick You to Spend More Money?👇🏻🛍️
Ever noticed how a trip to the mall always ends up amounting to much more than you originally planned for?🛒
A Thread🧵
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₹7.4 Crores ITRs filed in FY 2022-23
India's gross direct tax collection grew 20.33% to over ₹19.68 lakh crore.
Source: Economic Times
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It's #WorldFintechDay 🤑
India has the highest FinTech adoption rate globally of 87% which is significantly higher than the Global average rate of 64%.
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India is one of the most unequal countries.
1) Top 1% of Indians hold 22% of the total income.
2) Bottom, 50% of Indians hold only 13% of income, the lowest ever.
3) Income Inequality in India is as high as it was under British Colonial Rule.
What's the reason?
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Myth: Employer health insurance is sufficient.
Truth:
- You may quit.
- Coverage can be reduced during tough times.
- Retirement awaits.
- You're insured as long as you're employed.
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Myth: Retirement plan before 40 is too early. ⏳
Retirement is about freedom, not age!
Start early to secure financial independence.
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“More kids are ruined by the behaviour of their parents than the size of their inheritance.”
- Warren Buffett
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💰 IT CEOs vs. Freshers: The Salary Gap
Freshers Salary in IT Companies is still ₹3-4 Lakh in the Last 25 Years.
What's the Reason Behind the Constancy? 🤔
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If compound interest is the 8th wonder of the world, the 9th and 10th wonders are discipline and delayed gratification.
Source: Abhijit Chokshi
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Come have a look at our second workshop on “The Secret To Career Growth” stationed in Bengaluru by Shreya Hegde, a certified Image Consultant & Soft Skills Trainer 🚀
Where shall we organise the next one?
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Thursday motivation: Once you learn how to spend your money to make more money, becoming wealthy is just a matter of time.💪🏻💰
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Rakesh Jhunjhunwala once said:
“If I get 18% return, I am a King
If I get 21% return, I am an Emperor.”
What portfolio CAGR return do you aspire to over the long run?
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Common Money Mistakes Indians Make 💸
Indians have a traditional approach to money, but it can sometimes lead to missed opportunities and lost wealth.
Let's explore some common mistakes we make and how to avoid them.🧵
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5 Best Personal Finance Books📚
1. The Psychology of Money
2. Rich Dad Poor Dad
3. The Richest Man in Babylon
4. Your Money or Your Life
5. The Millionaire Next Door
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Most people overestimate what they can do in 1 year and underestimate what they can do in 10 years.
-Bill Gates
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A quality mutual fund SIP of Rs.10,000 per month started 15 years back amounts to 1 Crore today.
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Only 0.1% of the population in India is actually millionaires, compared to 10% of that in the USA.
Source: Statista
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🇮🇳 India ranks 3rd in billionaire population globally, after USA and China
🌍 The number of billionaires varies greatly across countries, showcasing economic development and opportunities. 📈🤝
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Use your salary to invest in passive income so that passive income replaces your salary over time.
You work hard for active income but passive income works harder for you.
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Ever wondered how the super-rich make a statement with their style without flaunting their wealth? 🥼
Let's dive into the world of quiet luxury and stealth wealth. 💰
A Thread 🧵
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Women participation in stock markets / investing in general is low due to 👇
- Pay gap
- Low participation in workforce
- Less representation
- knowledge gap
- Household responsibility
What are the other factors? How can we get more women to invest?
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Financial freedom to us means:
- Taking vacations when no one else is traveling
- Picking up our daughter from school every day.
- Going to the beach on a Tuesday morning
- Living for 3 months anywhere we choose
What does it mean to you?
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Indian population by wealth class
Rich class: 0.5%
Upper middle class: 31%
Middle class: 26%
Lower middle class: 18%
Poor: 25%
Source: Mint article
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🚨 As Tesla prepares for an India launch — the company has appointed Indian-origin Vaibhav Taneja as the chief financial officer (CFO).
So, who really is Vaibhav Taneja?
Here’s everything you need to know👇
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"Given a 10% chance of a 100x payoff, you should take that bet every time. But you are still going to be wrong 9 out of 10 times."
- Jeff Bezos
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We promised interaction, entertainment and knowledge and boy did we deliver it🙌🤝
With over 200 attendees, the smiles on their faces speak volumes about the success of our event. 😌
We're overwhelmed with gratitude for the fantastic response!
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If you’re a part of The 1% Club, you already know it’s not just about achieving financial independence 🏦
But also being part of a community that uplifts you, your aspirations and your network📶
Join us on this adventure. Take a step forward and it'll be worth it.🚀📣
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Unpopular Opinion:
Instead of teaching Trigonometry, schools should teach kids how to manage their money.
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India's stock market currently has around 3 crore users, indicating its gradual transition towards a risk-taking and capitalist society.📊
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BENGALURU 1%ers, did you have fun? 🥳🥂
The only answer should be Hell to the Yes!! 🤪
An evening full of learning, fun, networking, eating, drinking and hopefully unlearning old ideas🚀
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Myth: Credit Cards will put you in a debt trap💳
Credit cards can be a great tool to build your credit score and to avail a lot of payment offers. It can also come as a boon during times of emergency.
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A quality mutual fund SIP of Rs.10,000 per month started 15 years back amounts to 1 Crore today.
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Zodiacs Signs & Finance🤑
Based on your stars and a little bit of superstition 😜, this is your relationship with money💸
A Thread🧵
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2007: Over 1.4 million iPhones sold
2023: Over 1.4 million iPhones sold every 48 hours
Now: Apple unveils the Vision Pro, priced at $3,500
Apple continues to redefine technological possibilities, pushing the boundaries of device interaction.
Here's what you should know: 🧵
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Happy Birthday to the Cool HR of our team! 🎉🎂
A big shoutout to the one who's always been our go-to person for advice, support, and a good dose of humor! 😄🤝
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Apple's Next Big Move: Introducing a Credit Card in India! 💳
India is ready to witness the pinnacle of innovation as tech giant Apple sets its sights on the vibrant Indian market!✨
A Thread 🧵
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Let us do our small bit to make the world a cleaner and healthier place.🌻🌍
Happy World Environment Day 2023
#WorldEnvironmentDay
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83% of the Indian workforce would like to be an entrepreneur and this is higher than the global average of 53%.
Source: TOI
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83% of Indian workforce prefers to be entrepreneurs.
This is higher than the global average of 53 per cent
Source: TOI
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🔍 Which new jobs are likely to be created in this AI-driven era?
As Gen-AI technology continues to evolve, new job roles and opportunities are likely to emerge across a range of industries, requiring a mix of technical, creative and strategic skills.
Here are few such jobs: 🧵
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TL;DR
👉🏻Prepare for unforeseen circumstances.
👉🏻Support your family's needs.
👉🏻Travel the world with your savings.
👉🏻Achieve financial independence.
👉🏻Be a generous provider.
👉🏻Longer life expectancy = more funds needed.
👉🏻Retire on your terms, not work's.
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46% of GenZs and 37% of Millennials have taken on either a part-time or full-time paying job in addition to their primary job to cope with the cost of living.
- Deloitte Report
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Power dressing is an essential part of building a strong executive presence in the corporate world.👗✨
We conducted a workshop on “The Art of Lasting Impressions” by Shreya Hegde on 5th August in Mumbai.🎙️
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🌍 Dreaming of Traveling the World? Here's How to Save Money and Plan for Your International Trip 🛫
A Thread 🧵
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70% of wealthy families are no longer wealthy by the second generation.
If you pass on financial assets without also passing on financial knowledge, you’re doing the next generation a disservice.
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Like the content?
➡️Follow @getonepercent for more!
➡️Join The 1% Club today and be a part of India's biggest finance community
➡️Retweet the first tweet
7 Reasons Retirement Planning is a Must
Discover why planning ahead is vital for a secure and fulfilling future 💼
A Thread🧵
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Incredible growth in India's 🇮🇳 per capita income! 💰
📈 2021: ₹1,48,524
📈 2022: ₹1,57,000
📈 2023: ₹1,72,000
Major progress underway!
Let's maintain the momentum and soar higher together! 🚀
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📰 Stay ahead of the game with The 1% Club app's latest feature: Financial News! 📈
Get your daily dose of curated news and insights for free. Money never sleeps, and neither should your knowledge!🗞️💡
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We're delighted to announce the grand unveiling of our reimagined brand: The 1% Club! 🎉✨
Brace yourself for a transformation that's all about YOU and our incredible community. ⭐
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Surround yourself with those who fit your future, not your past.
It’s impossible to fail when your network is constantly discussing building wealth, entrepreneurship, investing and personal growth.
Your circle can make or break you, choose wisely.
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Ever wondered how a job switch could lead to a salary bump?💰
Share your most exciting career move and the difference it made in your paycheck!
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7 Streams of Income to Get Rich💰
Ready to level up your income? Discover the seven streams of income that can pave your way to financial abundance. 💸
A Thread 🧵
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Real estate investing is one of the best ways to build wealth due to:
• Passive income & cash flow
• Equity & appreciation
• Tax benefits
• Leverage
You can buy real estate with a bank's money and have tenants help you pay off the mortgage.
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Apple is working on "Apple GPT" artificial intelligence projects that could rival OpenAI's ChatGPT.
Source: Bloomberg
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