Transcribe
Hello. Yep. Hey Manoj. Hey everyone today. We've got a very special guest on Opentalk. He is renowned author and he's written not one two or three but four best selling books across a variety of topics right from Financial Independence and a guide to Stock Investing to books that teaches about the secrets of leading happier lives and all that. But also how we can Can learn to lead a more spiritual fulfill life when we learn to find and follow our passion. His life's mission is to elevate Society in whatever way he can and I think he's done a splendid job on that front through his informative and inspired style of writing but it doesn't end there. He is so dedicated to his mission of elevating society that he also said freeze the offers to Mentor any interested in becoming the best version of themselves. So it's my honor to welcome mr. Manager on to the Welcome Manoj. Hi, how are you? I'm good Mike. How are you doing? Good, good good and I like to thank you for agreeing to do this interview and open talk. It really means a lot to us. You're welcome. So my notification show I'd like to talk about the quality of financial independence from your first book from the race Financial Freedom now for a begin with the questions I've prepared I just had a quick message for the audience. Those are you You haven't read this book yet. You must take it up. Trust me. It'll change your life and how you look at money forever. So my nose. My first question for you would be in your own words here. Tell us about what Financial Freedom really is. Here here. So, you know, there are two big constraints we all work with which is one is time and there is money. So effectively what we do every day is we are essentially trading off our time and earning money out of it and Financial Freedom is a concept wherein it offers us the best of both which means it offers us enough money. Am I don't say it's an unlimited Amount of money but it's enough for us to lead a comfortable life and it offers us enough time to pursue our passions or dreams whatever you want to do in life, you know, so it's of it offers essentially a combination of these two together, which is very difficult to find in you know, any other place. For example, I was working in a job full-time with a company like IBM paying. I mean it's being very well, but then the challenge was with the time that I had in my life, which I wanted to devote to many other things, but I could not so I had the money but I didn't have the time and there are other scenarios where people have lot of time but then they are struggling for money. So Financial Freedom essentially is a state where you have the best of both words. Okay, correct. And why do you think Financial Freedom is so critical to achieve in this day and age Minaj? Okay, I'll basically take you to my own story. You know while I was in corporate sector work for around 20 years with various companies during TCS IBM and the best companies in the world. I always wanted to do certain things in life and those things were as simple as you know. Spending a lot of time with my daughters for example or doing doing something for the nature right tree Plantation has been my key passions. But while I was working, you know, I was not really able to get the time to really pursue all these things. You know, I had all the money in the world, but then without time being with me this money was really not that useful. So I really wanted to have a situation where I would have both of them and then I could really go out and do things which are always wanted to do, you know, and and that's that's basically giving meaning to your life. So why if you ask me? Why do you really want it Angel Freedom or why would somebody want to Achieve Financial Freedom? There are gold there are dreams their areas which people want to work on but they're all constrained because of the time that they have in their hands and you know, that's that's that's something which Financial Freedom. I thought would give me and that's what I realized when I actually took Financial Freedom around six years. Back, I quit my job from IBM after 20 years of working and I started my own NGO immediately after that which is basically into tree Plantation. And we do a lot of work across India in multiple cities across India. And so that was one of the things that I always wanted to pursue and then spending time with my my own family, you know to my daughter's they're growing up. So one is intend other. In 12, so I've been able to spend you know lot of time with them over the last five six years, which I now realize that I mean had I not done that and now that they're into Health tenth and 12 then once they go to college, I don't know. I'm not sure how much time will I really be able to spin after so, you know, those are the key things in life, which you miss once it's very difficult to get back those things in life. So Why Financial Freedom? My answer is make you weak to make your own life more worthwhile. You know, that's that's my answer to why you need Financial Freedom. Okay, absolutely. I completely agree with that interpreter is what's important in your life. And once you figure out what takes priority then you don't realize why you want to Achieve Financial Freedom. What's really important to you? And a lot of us have realized is we don't think on these lines, you know, we we feel that is only one way in life that you do study hard, you know get into good job and New working like that for probably the rest of your life and I'm basically take care of your family. That's it. But life is much more than that. I think we go to make our life more worthwhile than just this running for our families. I mean that of course you go to do that's our responsibility, but over and above that we go to do something else which makes our life more meaningful completely agree with that Soul golden handcuffs situation. Yeah. So you mentioned that six years ago is when you actually quit your corporate job and started your own NGO, but I'm guessing that to Achieve Financial Freedom a great degree of financial education is necessary. So how much Financial education would you say is a society to Achieve Financial Freedom or at least to get started on the journey towards Financial Freedom. Okay again, I wouldn't go very far away. But if you look at my example not even a single person. Then in my own my entire family top of my brother sisters my parents my cousin's everyone. Nobody has any Financial background. I have no Financial background. I am basically an electrical engineer and then I moved to IT industry post working for a few years in electrical engineering stream throughout work denied industry, but I while I was working I started handling my own personal finance. I mean I I started learning about it reading little bit of books about it and it's not that difficult, you know, essentially if you ask me as Warren Buffet says it's 10 standard mathematics that you ought to know. Okay? Okay. It's not more than that in terms of financial Acumen. Now, there are a lot of other factors that come into play when you're you know, striving for Financial Freedom or striving to generate more wealth. Okay. These could be related to your personal. Raids, it could be related to your how you react to volatile situations in market and so on so forth, but in terms of financial knowledge, if you ask me not more than ten standard match is what you need to really get going with your Financial Freedom aspects. Okay, that's good to know. So anyone at any age we get started right from like a high school student to a person who's been working in a corporate environment for a couple of years, right? Yeah. I mean I have among my readers. I have a lot of people whom I am coaching many of them are still in college. They are saving all of their pocket money in trying to invest whatever they can and many of them are nearing the retirement age this Looking for Financial Freedom because they know that even if after retirement they may not have enough money to survive. Okay? Okay, and I mean, you know our you know about living the the average age of living has gone up. So today if somebody is retiring at the age of 60, he needs enough money to survive for another 20 30 years true and the cost of living has gone up. So it's not going to be easy. So the law of people at that age also were joining into the program and trying to understand what's going to actually make them financially free God and on the other side. It said youngsters. In fact, I always tell most of my seminars that we should start teaching our children about money when they know how to count. This is has that you don't have to really wait for them to start earning money. And then they will save something and then they'll start investing. You know, that's not that's not the way it should be. We were all you know, we should compare them to handle money. Basically I have I have two daughters. So at least they know okay. This is my bank account. This is how I put in money in a fixed deposit. This is how it is on the interest. Very Basics, you know, you're not saying you go and invest talks or anything but very Basics about money. How do you save money how to invest money in a fixed deposit or a simple mutual fund and how does a bank gives interest to you? And the more you invest the more interest you get for the more duration you invest the more interest you get so, you know, it becomes a very very critical factor in investing and the earlier they start I mean the Better Edge they have in terms of generating mobile. true I mean, it's like you said, I think you mentioned this either on Goodreads or Cora. I'm not sure where but while researching. I think someone asked you about what the best financial advice you've ever received. Was that new talked about how you didn't really receive good Financial advice from anyone per se but what got you really interested in the subject matter of Finance was when you your Elder Brothers passbook. Yeah. It's the power of compounding. Yeah, I think for you. Yeah, that was actually a trigger as you say, you know in my financial Journey let point I was having the same impression about money as probably any normal person would have that it's difficult to and you know, you can't really get wealthy just by saving money and investing money. So when I saw that, you know Somebody earning an interest which is more than my salary. Well, that's something which you know triggered something in my mind. Yeah, you know, you can get returns from your money which can be more than what you actively on. So essential that all about it good passive income starts to give you money, which is more than your active income. Then you don't really have to work. I mean you can still continue to work necessary for you. Work. Yeah when someone is a smoking for you. Yeah to manage. How long does it typically take in order to achieve Financial Freedom? So say there's an individual with a very good comprehensive Financial education. How long on average do you think it would be for him to Achieve Financial Independence? Well again, it's you know, it's a very very customized field. I would say every individual every family so different I'm working close to 300 people individually and there are people who would get financially free in two years time because there they already have enough net worth. There are people who would not get free even after 10 years because their monthly expenses Is also High, you know, so it's all depending on what lights tell you have currently. What does that you're looking for in future. Where are you currently? So which means what's your current Network? Where do you want to reach so there are many factors that influence these things typically if you ask me on an average. Like I took around six to seven years to you know, when I started on my journey until I finished my journey and I was around a year and a half late then what I planned for. So I planned for around five to six years and it took me around seven years. But that's the average it takes for for a middle-class family with one or two children to you know, get going on the journey and finish it off in seven years. Okay. Nice. And as you said you just you plan to do it in five years and you did it in six and a half but in the big picture, I don't think that one and a half years matters that much. Yeah, and I love the day that you initiated. Yeah. Yes. Exactly. And that's Lan is so private to me. So nobody knows the a plan for five years. So I think important thing is when you get going on the journey, you know. People also share this feedback, and I also experienced rate that as you are approaching Financial Freedom the way of looking at Life Starts to change. And even people who were in their regular jobs, you know, they didn't leave their jobs. They were still continuing in their job and they said that they I mean this Freedom has given them a better risk appetite they're able to take Boulder decisions in their job, you know, they're not worried about taking a risky decision because they know at least they are secure the family secure now they can really open up and do things which they are always thought were risky. exactly So even if you're not pursuing any different passion or any other area of Interest, even if you're continuing in your job, your performance increases many folds just because your mindset changes, so true also managed on your website. I notice that you also offer mentorship opportunities to anyone who wants to Elevate Life. Can you tell us a little bit more about mentoring opportunity that you provide? Yeah, so, you know this is this is a program which I started around two years back and earlier. You know, like I told you I have an NGO wavy to tree Plantation in all so while I was doing all that I realized that there's a lot of good people around me who want to do a lot of things for the society, you know, somebody wants to teach underprivileged children. Wants to sponsor their education and take care of other things. So a lot of people are there who want to do good things but then you know, they are all stuck like I was stuck. Okay. Okay, they're stuck in their jobs. They stuck in their businesses. They don't have time to do all these things what they want to do, but they don't have the time, you know, so I thought that what can I do to you know, you really leverage their intent. Whatever they want to do for the society and I alone cannot you know, Elevate the world around me. I need lot of people doing it in their own special way is not that they have to do what I am doing, but they can do it in their own ways. So I thought that okay, so I am able to do this because I've got financially free now. Is there a way I can help them Reach Financial Freedom If they can get through Financial Freedom and then I'm sure that most of them were good minded like minded people. They will have their own ways to elevate the world around them. So I started this program where I you know started coaching people. It's not only coaching, you know, it's kind of hand-holding where I understand their current situation help them prepare their very Customized Financial Freedom plan and then take them through the Journey of an Angel Freedom. It could take as I said two years. It could take ten years 15 years till the time they get financially free. I stay with them. I keep reviewing I keep tracking what they're doing. I keep talking to them keep recommending them how they should go about a particular situation. So that's a program that's called as an elite program. And of course. I cannot take everybody in because of the time constraints that I have but I usually take around 10 to 15 people every quarter. So there are applications that come in once in I mean three times a year and I take around 10 to 15 people in there. Oh, okay. Nice. It's called Elite program. So it's a mention on the website. Otherwise anybody can send me an email. Didn't you hear the details? Okay, great. So at the end of the show, I'll just mention in the show notes that your website URL as well as your email address. Yeah. Now I just have one final question Manoj. So if you could give one one piece of advice to anyone trying to achieve Financial Freedom then what would that Annex B? What would the advice be starter? Okay start as early as you can wherever you are. You don't know when you need this Freedom. When is it going to help you in life today? Everything is becoming very unstable unsteady volatile. You go to prepare yourself and your to start as early as you can. This is the biggest lever time is the biggest lever to wealth creation. Else getting you know help you if you've lost time absolutely so so I mean if there's one advice it will be start early. Okay, that's great - thank you so much for coming on to the show. It was a pleasure having you and open talk. You're most welcome, and thank you everyone for tuning in. Okay. Bye. Take care. Take care. Great talking to you. Bye.