Many people are highly affected by the You Only Live Once (YOLO) phenomenon. They believe that just because zindagi na milegi dobara, they should spend their money enjoying their today rather than saving for their tomorrow. Also, not many people understand the impact of lagaan on their incomes and know that there are ways by which they can reduce this impact. In this first episode of our new podcast series ‘Cinematics of Investing’, Edelweiss Mutual Fund, in collaboration with Saurabh Jain, brings to you these simple yet important life and financial lessons with a dash of Bollywood tadka.
Key takeaways:
· We are all victims of lifestyle inflation which dictates that as our income increases or simply as time passes, our lifestyle becomes more expensive.
· While it is important to enjoy your life today and spend money on consumption, it is equally important to invest for a safe and secure tomorrow.
· Tax planning is an important part of financial planning. You can easily minimise the ‘lagaan’ on your income through astute tax planning.
You can listen to the podcast on the Edelweiss Mutual Fund website, Spotify, Google Podcasts, and Apple Podcast. We hope you enjoyed this podcast and will tune in to listen to more such podcasts on investing nuggets.