99% Rich People Do This: Money Making Habits & Opportunities | Karan Bhagat | FO431 Raj Shamani
Raj Shamani Figuring Out episode, in Hindi, in which Raj talks with Karan Bhagat, founder and CEO of one of India's top wealth management firms, about what the ninety-nine percent of rich people actually do. His definition of rich in India today: a good house and five crore is very, very rich. The difference between those who stall at one or two crore and those who build five thousand: a certain discipline to their process - doing slightly more every day than the day before. He maps where India's wealth gets made - financial services, consumer, technology services, industrials and defense, pharma and healthcare - and advises a twenty-year-old to pick one space, live with the people who know it, study them and prepare. He also gets into what money does not change: the fears people carry stay the same after the money arrives, and the old-money versus new-money mindset gap. PARTIAL COVERAGE: this summary highlights the wealth and mindset lessons; firm history and product talk are not covered. These are Bhagat's own figures and views, not independently verified. This is not financial advice. No sponsor read was named in the episode.
Executive Summary (TL;DR)
Raj Shamani Figuring Out episode, in Hindi, in which Raj talks with Karan Bhagat, founder and CEO of one of India's top wealth management firms, about what the ninety-nine percent of rich people actually do. His definition of rich in India today: a good house and five crore is very, very rich. The difference between those who stall at one or two crore and those who build five thousand: a certain discipline to their process - doing slightly more every day than the day before. He maps where India's wealth gets made - financial services, consumer, technology services, industrials and defense, pharma and healthcare - and advises a twenty-year-old to pick one space, live with the people who know it, study them and prepare. He also gets into what money does not change: the fears people carry stay the same after the money arrives, and the old-money versus new-money mindset gap. PARTIAL COVERAGE: this summary highlights the wealth and mindset lessons; firm history and product talk are not covered. These are Bhagat's own figures and views, not independently verified. This is not financial advice. No sponsor read was named in the episode.