Last Updated on December 18, 2021 at 10:49 pm
No I am not referring to myself! (although a few my students would have something to say about that!) I am referring to ‘One Idiot‘ the new short film directed by Amole Gupte and produced by IFDC foundation as part of their initiative to spread financial literacy to young Indians.
If you haven’t seen it please do so right away, right here!
[youtube http://www.youtube.com/watch?v=vU1l1TB7GzI&w=560&h=315]
I had requested IDFC if the movie can be part of ‘Saarang’ the annual student fest at IIT, Madras, one of the biggest such events in the country. I passed it onto the student organizers after getting IDFC’s permission. The students loved it so much that they made it the opening event of the ‘Saarang Film Festival’. I was asked to make the opening and closing remarks about the movie.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! 🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥
I had to make subtitles for the movie since about 40-50% of the movie had Hindi dialogue. After trying out a couple of free subtitling software I decided its best to create one on notepad for the Hindi speaking parts. It came out okay. If you need it for your own local screening write to me.
The movie was filmed on Jan. 13th in a packed auditorium with 500+ people. People were seated in the pathways due to lack of seats! In my opening remarks as a buildup to the movie, I asked the audience: “What if after a couple of decades of working for money, how would you like it if your money begins to work for you?” (a standard refrain among finance pros but new to these kids). Understandably many seemed puzzled.
The audience found the movie immensely enjoyable. There were peels of laughter when Chotu asks the bench-gang if they had 50 bucks and walk off to his match in style and when he explains SIP to his elder brother. All this was quite understandable but will they get the point of the movie I wondered?
When Bugs uncle quotes Warren Buffet: “If you buy things you don’t need, one day you will have to sell the things you do need”, the audience erupted in thunderous applause!! It was spine tingling. Considering the average age of the audience would be somewhere between 20-25 it is a great triumph for Amole Gupte and IDFC!
In my closing remarks I quickly mentioned two examples of compounding:
- Assuming Chotu is 12 years old. He has been investing since he was 8(!) and he has a networth of about Rs. 62,000. If he continues to invest until he graduates from school, he would have enough money to fund at least 2 years of college. Imagine a guy who has just turned 18 and funds his last two years of college on his own! He could just tell his parents to ‘back-off’ and live life on his own terms. Not to mention he won’t have the burden of student loans.
- Imagine someone who starts earning at age 21 or 22. If he or she manages to put aside Rs. 15,000 month after month from say age 22 to age 40 in investments earning an average return of 12% per year, he/she will be a crorepati: the ‘drop by drop’ referred to by ‘Bugs’ uncle. Over an 18 year period, with proper asset allocation, a 12% average return is quite realistic. Is investing 15,000 a month realistic so early in ones life? You don’t need to start working in Facebook or Microsoft to be able to invest this much a month. If you can’t invest this much then invest what you can as early as you can. Starting early is more important. As salaries increase one can catch up. A few older members in the audience did their best to not pay attention! Possibly because they had missed the bus to financial independence!
If you are on the right side of 35 you still have a decent shot at relatively early financial independence. All you need to do is act … Now!
🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 5000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! ⇐ More than 1,000 investors and advisors use this!
New Tool! => Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
![Follow Freefincal on Google News Follow Freefincal on Google News](https://freefincal.com/wp-content/uploads/2023/07/Follow-Freefincal-on-Google-News.jpg)
![Subscribe to the freefincal Youtube Channel Subscribe to the freefincal Youtube Channel. Subscribe button courtesy: Vecteezy.](https://freefincal.com/wp-content/uploads/2023/07/Subscribe-to-the-freefincal-Youtube-Channel.jpg)
![Follow freefincal on WhatsApp Channel Follow freefincal on WhatsApp Channel](https://freefincal.com/wp-content/uploads/2023/09/Follow-freefincal-on-WhatsApp-Channel-300x83.jpg)
![Listen to the Lets Get Rich with Pattu Podcast Listen to the Lets Get Rich with Pattu Podcast](https://freefincal.com/wp-content/uploads/2023/07/Listen-to-the-Lets-Get-Rich-with-Pattu-Podcast.jpg)
![Lets Get RICH With PATTU podcast on YouTube Lets Get RICH With PATTU podcast on YouTube](https://freefincal.com/wp-content/uploads/2023/08/Lets-Get-RICH-With-PATTU-podcast-on-YouTube-644x362.jpg)
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Have a question? Subscribe to our newsletter using the form below.
- Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!
About The Author
![Pattabiraman editor freefincal](https://freefincal.com/wp-content/uploads/2019/11/Pattabiraman-author-freefincal-article-bottom.jpg)
Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
![Both boy and girl version covers of Chinchu gets a superpower](https://freefincal.com/wp-content/uploads/2021/02/Article-bottom-Chinchu-gets-a-superpower-front-cover-for-girls-and-boys.jpg)
![Feedback from a young reader after reading Chinchu gets a Superpower (small version)](https://freefincal.com/wp-content/uploads/2021/02/For-bottom-Feedback-from-a-young-reader-after-reading-Chinchu-gets-a-superpower.jpg)
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our YouTube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing
![You can be rich too with goal based investing](https://freefincal.com/wp-content/uploads/2016/11/You-can-be-rich-243x300.jpg)
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
![Gamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you want](https://freefincal.com/wp-content/uploads/2017/05/2-mini-Cover-pink.jpg)
Your Ultimate Guide to Travel
![Travel-Training-Kit-Cover-new](https://freefincal.com/wp-content/uploads/2019/11/Travel-Training-Kit-Cover-new.jpg)