Market expert and Complete Circle Consultants’ Managing Partner and CIO, Gurmeet Chadha, has offered a refreshingly candid take on what truly shaped his journey to financial independence. It has little to do with degrees, technical skill, or superior stock-picking ability, but rather his ability to accept and digest stock market volatility.

In a recent post on X (formerly Twitter), Chadha said that the single most important factor behind his wealth creation was what he called his “digestive ability” — the mental strength to endure market ups and downs over long periods without losing conviction.

“One reason which contributed to my financial independence journey is not my skill, knowledge or qualification. It’s the stomach to digest and accept that volatility is integral,” Chadha wrote.

The seasoned investor emphasised that wealth creation in equities is less about timing the market or chasing quick riches and more about surviving through cycles. According to him, investors who can stay invested for 15–20 years, avoid get-rich-quick schemes, and maintain faith in India’s long-term growth story are far more likely to end up wealthy.

“One reason which contributed in my financial independence journey is not my skill, knowledge or qualification. It’s the stomach to digest n accept that volatility is integral. If u survive 15–20 years, do not chase quick rich schemes & believe in India, u will be very wealthy,” Chadha said in a post on X.

As the year comes to a close, volatility has come down considerably. The fear index, India VIX, is down 36% on an annual basis. It was at its highest point in April and was up 43%, according to Trendlyne. The year also started amid strong volatility, with India VIX jumping 12%. It was again up nearly 10% in October.On Wednesday, India VIX closed at 9.19, down 2%. Its 52-week high stood at 23.19.

Chadha regularly shares his insights on investments and stock markets.

Recently, he welcomed the decision by Russia’s largest bank, Sberbank, to invest in Indian stocks via a mutual fund. The fund will be benchmarked to the Nifty 50. The move now paves the way for Russian investors to invest in Indian stock markets, he said.

“Russia’s largest bank SBER offering Nifty 50 index to local Russians is BIG. Russia has significant rupee surplus,” Chadha said.

Counting the advantages of the move, Chadha said that the NSE can use this as a template to tie up with other BRICS nations, along with smaller nations in Africa, South America, Asia, and even Australia and New Zealand.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

President Anura Kumara Dissanayake emphasized that he regards the media not as outsiders but as an integral part of the effort to build a better state and improve the lives of all citizens.

He made these remarks during a meeting held today (05) with the heads of electronic media organizations at the Presidential Secretariat in Colombo, the President’s Media Division (PMD) reported.

The President highlighted that the people expect a good political culture and elected the current government to fulfill that expectation. He invited all media organizations to collaborate in fostering the new political, social, and economic changes that the people desire.

Additionally, President Dissanayake urged media heads to refrain from reporting false information that could harm national harmony. While affirming that the media has the right to question or criticize the government on political and economic matters, he stressed the importance of responsible reporting.

Recalling the country’s history of enduring decades of war, the President declared that racism would never be permitted again. He also assured that he would not compromise or restrict media freedom in any way, the statement said.

During the meeting, the President elaborated on the government’s stance on several critical issues under public discussion. He outlined programs such as the initiative to eradicate poverty, a pressing issue, and the Clean Sri Lanka program.

The event was attended by members of the Sri Lanka Broadcasters’ Guild, along with senior officials, including heads of electronic media institutions, group directors, chief executive officers, and general managers.

–PMD

Tether previously made a similar announcement after losing in court twice when attempting to block a June 2021 FOIL request filed by CoinDesk. That request pertained to documents produced during the New York Attorney General’s inquiry on allegations that USDT, the U.S. dollar-pegged stablecoin that Tether issues, was not sufficiently backed by reserves from mid-2019 to early 2021, settling charges with the company at the end of that period.

As we come together to celebrate Independence Day and the freedom our nation’s forefathers fought for, let’s also reflect on a different kind of freedom that matters in today’s world. Amidst the festivities and ‘Freedom Sales’ that have become a part of our celebrations, it’s a good time to think about our own financial freedom.

While we commemorate our 76th Independence Day, let’s ask ourselves if our wallets are as free as our country. In a world where purchases and expenses often hold us back, especially during these sales, there’s another kind of freedom we should consider – the freedom to be financially secure.

Unfavourably, for countless individuals, the burden of debt casts a shadow over their ability to lead a life on their own terms. The pursuit of financial independence necessitates understanding the intricacies of the debt cycle.

With the compelling advertisements touting enticing loan options and claims of “lowest interest rates,” it’s easy to succumb to the charm they cast. However, it’s crucial to recognize that lower interest rates don’t necessarily translate into reduced tax burdens.

Let’s get to the bottom of this concept through a real-life example.

The ongoing financial debate that has sparked countless discussions across the internet revolves around the age-old question of whether to ‘own’ or ‘rent’ a house. Recently, the research team at FundsIndia provided a comprehensive overview of this debate, effectively settling the matter.

Among the insightful findings of this study, what particularly captured my interest was the concept of the loan repayment cycle they highlighted.Imagine opting for a loan of Rs. 50,00,000, spread across 20 years at the lowest interest rate of 8.5% per annum. This choice would entail a monthly EMI of Rs. 43,391. Which in terms of the current economy is a huge commitment to an average salaried individual.

Remarkably, after five years of dutiful payments, you’d have contributed Rs. 26 lakhs, a whopping 50% of the principal amount. However, it might be astounding to learn that, by the end of the same five years, merely 12% of the principal amount would have been repaid.

This fact underscores that a substantial portion of your EMI primarily caters to interest repayment, highlighting the significant interest burden.

Zooming out to the entire 20-year loan tenure with the 8.5% interest rate, the aggregate amount paid sums up to Rs. 1.04 Crores. This figure encapsulates both the principal sum and the accumulated interest over the loan’s tenure.

This intricacy of EMI payments and loans is one we can’t ignore. While EMIs and loans hold a prominent place in our financial lives, understanding their nuances, equips us to make informed decisions.

But how do we break free from the relentless cycle of debt?

Financial independence is the gateway to living life on our terms, unshackled by creditors. It empowers us to pursue dreams, embrace calculated risks, and seize opportunities without the weight of debt obligations. By acknowledging the repercussions of debt, we elevate the significance of striving for financial freedom.

Let’s quit the editorial answer and pen down the definitive steps involved.

Step 1: Assess Your Debt
Understanding reality is the first step to conquering it. Compile a comprehensive list of debts, noting interest rates, due dates, and monthly payments. This clarity is the foundation of your journey toward financial liberation.

Step 2: Craft a Budget
A meticulously crafted budget guides your journey to financial freedom. Distinguish between essential and discretionary expenses, embrace financial discipline, and allocate funds strategically. This budget is your compass for informed financial choices.

Step 3: Tackle High-Interest Debts First
‘Prioritize wisely’ – Debt forever has been a game of numbers, and focusing on the right ones actually saves you. High-interest debts, like credit card balances, accumulate compound interest rapidly. Channel resources toward eliminating these debts, saving money in the long haul.

Step 4: Invest in Financial Literacy
Resources are everywhere and all you need is a quick search to gain what’s most needed. Empower yourself with financial knowledge to navigate personal finance complexities, sidestep debt traps, and build a secure future. A commitment to continuous learning and acquiring insights into concepts like compound interest, investment options, and risk management is pivotal.

Conclusion
To conclude – as we celebrate this Independence Day, remember that genuine independence transcends political boundaries. It encompasses financial autonomy – the ability to shape our destinies, unburdened by debt. By embracing the ‘Pledge for Financial Freedom,’ let’s initiate a journey towards a prosperous tomorrow. This Independence Day is an opportunity to break the chains of debt and embrace the liberating realm of financial independence.