User Posts: Abhi

Here's a look in to Indian penny stock market and views on buying penny stocks,investing in them with a long term perspective,evaluating risk and rewards

Here are 9 different ways to find cash quickly if you are ever in a desperate situation where you have a burning need for cash urgently

Let's look at what is CIBIL score in India and way to improve your cibil score as well as how you can maintain a good credit score

Find out how to save tax by subscribing to National Pension Scheme, the NPS Tax exemptions available to you and best ways to plan benefits from them

There are so many questions on how cashbacks work, how to earn rewards and how to use reward points. Let's look at these perks of credit card in detail

It is important to maintain a healthy work life balance to avoid burnout chasing FIRE goals. Learn to balance Time for yourself & family when chasing money

There are some great strategies to save money on the FIRE journey. Geo Arbitrage is a great method to save money and for retirement. Here is how it works

You are a beginner and wish to start investing a small amount. Here are the best ways to invest Rs.1000 and kick start your financial journey

Get a new car for free. Here is how I got my car for free and also am being paid to keep it! Crazy right? Read on to see how I did it!

Here's my FIRE update for July'20. Crypto currencies and NPS savings are new to my portfolio.Investments in stocks and Funds have returned to green!

Browsing All Comments By: Abhi
  1. Hi Navender, the monthly Rs.2692 mentioned here is an example and this varies from deal to deal. The actual monthly payout will include part of the principle and interest and will be varying per year. Here is an example of a monthly schedule attached. In my example in the article I missed clarifying the different monthly payouts, hence removing this to avoid any confusions. When you invest with Gripinvest, they have a payment schedule and this can be seen for all the assets at the time of subscribing.

  2. Hi, there are two possible reasons for this. 1.) If you are using a VPN or a proxy of some sort or you are using your office laptop that uses a proxy by default this can happen. 2.) There is an issue with the Honeygain server. If this is the case it usually gets back to normal in a couple of hours. By all means, avoid a proxy or VPN as it will get you banned.

  3. The returns are tax free as the tax is deducted before it is paid out to the investor. So to be clear, the returns are not tax free, just that the investor need not pay tax on it as the LLC will have already paid the tax.

  4. I was not aware of Grip invest. Thanks for pointing it out to me. It does look interesting. However keep in mind that the return they are promising is IRR not ROI. So net-net, you are looking at a return of about 12%. Now, from that they deduct taxes. So the final return is working out to be 7.7% pa. Most of my investments provide a lot more in terms of return. It is still worth exploring from a diversification perspective. Let me check out Grip and speak about it.

  5. Hi Agnishwar. Thank you for your kind words and encouragement 🙂 Yes, I shall do my best to reach for the tough goal and continue posting on my learnings. And yes, more time with wife and daughter. They are the most important in my life!

  6. Hey Srinath,
    I have had small (about 1K) crypto holding for a long time. But only after I started my FIRE journey, as a mean for diversification I added a small part about Rs.31,000 into crypto assets. So when I decided to buy bitcoins, it was pretty difficult. At that time, Indian banks will not allow you buy (your card will just get declined). Now I think they do allow.

    Anyhow, when I bought, I bought BTC through Paxful. It is a mediator site (Localbitcoins is another I have used in the past) that allows for members to trade. I paid a hefty commission. I use as my wallet. I have several others, but prefer these guys due to security and smooth interface.

    But you need not do those now, I bought my holding over a year back. Now regulations are more relaxed and there are a couple of Indian crypto vendors who allow you to buy in INR.


  7. Thanks Sumit 🙂
    True, but this trend is changing as more youngsters are seeing the merit in saving up.
    Best of luck with your goals too!!!

  8. Hi Subbu,Thanks 🙂 actually Amex Gold cards do have a fee waiver, but they dont publicly say it. Nor do they tell us how much should be spent to be eligible for the waiver. I use them for about 1.2 Lakhs a year. And for that they have given me 75% fee waiver for the past two years.

  9. Hi Ankur,

    Thanks :). Yes, 4-5 asset classes will be where most savings will be invested in ultimately. It is just 11 months since I began my FIRE journey(before which I did not have much savings or knowledge on this area), and my total savings is not too great. So I am experimenting with different options and seeing what works. Eventually, I will start investing in a concentrated of asset classes for the long term. Best of luck with achieving your goals!!!

  10. Nope, I have not developed a system yet. I am just starting off, so learning as I go. As of now, I am trying to just keep accumulating and re-balance when required.

  11. Hi Subbu,
    Thanks! Yes, I try to stick to small cap stocks that are great companies and give consistent dividends. My average dividend rate from the stocks I currently hold is about 3%. This gives a small stream of passive income as cash and also compensates for inflation to an extent.

    Large caps too provide great dividends, but somehow the dividend paid to value of stock is not satisfactory to me.

    I follow and see that you are mostly in the Largecap camp 😀

  12. Hey, yes, Mintos does not allow any longer. I have been with them from way before when they launched. At that time there was no country restriction. Several other readers had mentioned they were not able to sign up any more too. You can explore other P2P platforms or wait for Mintos to expand and add more countries. Alternate option is if you have “trusted” relatives in the supported countries, then they could front you.

  13. Hey. If you are fired, or even if you move to a different company, you will have two options.
    1.) Take over the loan, so instead of the monthly payment being deducted from your salary, it will then become a car loan which you need to pay.
    2.) If your new employer, in case you are moving to a new company and not getting fired supports CLV then you can try to move the company lease vehicle to the new company.

    Alternately, if you wish to pay off the remaining due in full and take over the car or sell the car, you can do that too.

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