Things EVERYONE should know about MONEY! | Candid LESSONS with @tanmaybhat | Warikoo Hindi

first stop thank you so much sanme for being a part of this here and for sparing time always a pleasure to have you thank you for having me and for always always looking forward to spend time with you awesome feelings mutual i wanted to ask you this question before we got started to set the context how how was it growing up did you grow up with a lot of money without money what were your early years like with or without money um i i think i'd be lying if i said that i grew up with very little money that's not true both my parents were working we didn't have our own house in the beginning we were living with a large joint family i was living in a one bhk till the time that i was out of college had my first job then once i started working i started working really early i started working when i was just out of school just got into college i started doing odd jobs i was a half decent writer for my age at that time so a lot of people would employ me as oh he's this good and this young is future talent right so i started i started getting these jobs started writing for magazines then i started doing bmm where my college timings were 7 a.m to like noon that gave me the whole afternoon and evening to work so then i started getting proper gigs then then i started writing i wrote for wwm which is the magazine department of the times of india i wrote for a bunch of magazines there um i used to do all these college festivals um until in i was do i was participating in mr malhar which i won and ronnie skruvala and zarina mehta were the judges there and they somehow got in touch with me via the organizers of the festival they were making a television show for bindas and that television show involved writing some comedy and i did like some version of stand up at malhar and the production company was run by roshan abbas who got in touch with me and said why don't you come right that's when i met russian abbas and i started writing for television so by the time i was 21 22 i was entrenched in the world of television and i remember my ca was my dad's ca and i think that year i made whatever 10 12 black rupees that year i was yeah i was very young and my ca told me saying hey do you know that you're making as much money as your dad and that's when it hit me saying oh okay so this is like seriously good money for that age so yeah i think um relationship with money was it was never bad but it was not you know i've seen people having better uh you know significantly better upbringing and but that was fine i was never starved for video games who i was a very bright student i used to do well so it was never a struggle um but yeah i like real wealth and money started unlocking when i started making money and of course today today the learnings are far different from them do you remember any moment i selected okay which is a government-aided school that means it was like one level above like a municipality school so there uh in one exam i did really well and my mom bought me a gear cycle right i was the first kid in school to have a gear cycle and when i drove the cycle to school there was a reaction of oh my god like you have so much money and that that was very weird for me because you know because being told that you have a lot of money is an accusation right it's not a compliment growing up being told you know so that was very weird whereas in other situations i had other friends who were far well off than me there it was the opposite right they had nicer clothes and you know they had bigger cars and that sort of they had cars we didn't have a car uh for a long time so there it was the opposite issue so it like the relationship with money was all never objective it was always that if some people perceive it in another way other people treat it in another way uh so it was never looked at for what it is right that oh this is a thing that you know it's a game essentially right like no one no one taught you that yeah did you at any point of time like some of the kids have some figure in mind it got because one crore seemed unachievable right yeah in fact someone did a poll on twitter recently ankur said that how much money would you need to retire right and there was there were figures of five crores seven crores ten crores and everybody thought ten crore rupees is what i need to retire my first question when i say this is to retire okay like what is retirement what are you gonna do um so my burn every month to be comfortable for me and this burn includes uh some staff there's some scope for purchases i like some electronics i want to have you know i want to have a computer that's like up to date every year it includes some money i give my mom uh it includes i once i moved to bangalore and also i was spoiled in bombay also i had a pretty big house in bombay i can't go back to a smaller house so i'm just like okay i just got to work to keep have a decent sized house uh i don't i don't have needs for a fancier car i've driven the same car for the last you know 10 years actually nine years i've had the eco sport since it came out that's what i've been driving that's what i've always had um [Music] uh so yeah so i have a i have a burn of about whatever five and a half six lakhs a month saying okay this is includes uh some editors includes some staff some some folks of the team and i'm like okay if i can maintain this and so what does that work up to right ten percent of this uh ten percent of whatever your whatever your investments are that needs to work out to about 70 lakhs a month 70 lakhs a year roughly yeah because if you give me 70 lakhs a year i'll be very comfortable great um so either i need to figure out a way to make 70 lakhs here which is consultant gigs etc etc um or i need to have roughly seven rupees to what is it fire what is all right so so about seven sierra so once you are a your pre-tax and so on and then when when you were growing up when when you were kid was there somebody in the family or somebody externally that you looked up to when it came to money like when it comes to money i had a very sweet my dad's elder brother used to call him doctor uncle uh he was he was a strict he was a strict uncle because he was a he was a doctor as well right so i was i was a chubby kid so i used to always get a wrap on my wrist for you know eating chocolates and that kind of stuff so he was always someone that i felt like if i was if i could grow up and have money like him he also lived in a you know much nicer house than mine it was a bigger house it was a house with a clinic attached to it you know so he was very very kind um and it just felt like he got to be a level of disciplined to be like him because he was a doctor you know um so it just felt like he had essays if you wanna money is earned through hard work yeah it's not it you can't just casually make money is what i raised then now i meet crypto traders [Music] what the hell happened here yeah dr uncle would not be pleased with that uncle would not be pleased oh god and and when you when you started writing these scripts made a awful lot of money for your age clearly to shock your ca as well yeah um were you were you wise with that money i do remember you making this remarki one of the best things my mom did was she used to set some aside and i used to like literally hate her for doing that because it felt like my money going into something waste and that at some point in time saved you but but walk us through that like how was your first dealing with money i have a career today because i was good with money let me explain how i used to have a joint account with my mom so she knew exactly how much money was coming in and i had a debit card that i used to use and she knew exactly how much money was going on right so any purchase i made she knew that was very helpful um my mom was never forcing that don't buy this but it would always be a conversation and a half and justify this i just want to avoid it to be honest i just didn't want to explain it explain to her right so she would keep an eye on where my money went because of this i had a significant saving by the time i was 23 24. um i had a few lakh rupees in the bank um because i had these savings i could convince my mom so my parents bought another house on loan which was on the same floor as mine so i knew that there were a few lacks of loans that were taken to get that house so that was my chance to tell my mom saying hey there's some tenants here this tenant had a decade in the tent center as soon as his boards are over we gotta get them to empty the house so i can live there i cannot approach this conversation without saying i will pay rent for this of course i'll pay rent because i know this rent helps you run the house so i was able to breach that conversation which was then made possible eventually my mom came the condition was that uh no meals will be cooked in that house you have to still come and eat your food in this house i was able to go to the other house right which is a huge independent feeling having another house but i was very lucky it was right next to my parents house right so there was no trouble so to say i would have to go there to get the keys to enter my house right it was like that uh but it's a big it's a big feeling i learned budgeting which is how my what do i spend to make this house done i had my own maid who started coming home i started having expenses um that was a big learning experience then because i started learning how to deal with money uh and that i had savings i came across uh some of some of my friends that you might know rohan joshi principal and khambhar she shook here the stand-up scene happened and at that time as the standards didn't really pay much but because i had savings i could do those three years and truly do whatever i wanted in those three years i did i i wrote eight to ten hours of live stand up i did i traveled across the country i you know it wasn't hand to mouth if it if i didn't have savings it would have been hand to mouth but i had savings i was very comfortable um so that actually my training years of those three four years of absolute training without worrying about money is you you know you kind of develop you kind of develop muscle that you still use today it's like getting super fit at a very young age right like those people in their 40s are also mega fit they don't have to put in those years of you know getting stuff done super useful which is why people who you know young minds who are financially independent at an early age can do wonders um it's unfortunate that a lot of kids now they're exposed like is the need to spend is too high like it's it's like it's good yeah yeah yeah no i get it and this is this is so useful because it's almost like your your mom without training you training you and prepared you for for what was to follow and uh close to her so this part is really good uncle this part is really good um but we i i was still again i was still not in the 30 tax bracket range in in these years then i started making more money right that's when i started faltering when adulthood properly hit i moved out of the house that i was taking i wanted to move into a bigger house i started upgrading lifestyle i bought a newer car i started buying fancy clothes there was a year there was a period of like two years where i felt like i had made it and you know if i was at a bar with friends i was the one to offer i also had much higher status in life but my financial status wasn't as high as my social status so you got to keep up so i made those mistakes as well so when i b shut down i again sought debt and i'm just like what i i thought i would pass this 10 years ago what happened now yeah we will come to that period because i think that there is a lot to learn from that period and then how you navigated that though it wouldn't have been easy what was your first big purchase in life like a cassidy cheese feeling um i bought my uncle's car so my doctor doctor uncle uh the veggie and this uncle he they had an extra car they weren't using it was a fiat polio um it was unused it was really good he was really generous he said you can probably have this at a you know discounted rate and i bought that car so i got a car when i was 22 23 which was insane right at that point like having having a car that early did your mom approve of the car purchase no this was but you were like this was an outbound inquiry from me to uncle and auntie it had nothing to do with my mother my mother didn't approve of it um she said why do you need two cars this dad has a car why you need i said dad doesn't drive his i don't want to drive his i want my own thing here you're cool like that yeah and uh and today or let's go back to the so there was a time if i remember right 1617 and and it literally felt like a ib like you guys were killing it like literally everywhere rocking it making it happen and then of course all of that comes down like a house of cards and and it's it's not pretty and and you go through a really tough time which you've publicly also expressed and we all saw that but we nearly wouldn't know how how it would have felt because one thing is to go through the emotional distress which is which is always a personal journey and nobody else can relate to it except you they can always empathize and perhaps be there and the second one is also this ugly little thing of financial distress that's staring at you because that's the that's the reality of life yeah what was going on in your mind um [Music] i think i think there was uh some sense of how could how could i be that stupid because you know i didn't care about savings when heavy was happening right it was all reinvest okay whatever money we made individually we were reinvesting it right so it wasn't just me was everybody reinvesting it back to the company we decided to produce a movie on our own let's put our money into the most express into the most expensive medium of expression expression ever with no buyer at the other end guaranteed and will make an artistic film what we want to make okay i just like like that we didn't think that through uh because we were very certain that hey things will go well we'll end up you know there'll be a buyer for this film very happy right uh and then that didn't happen we were like you know everybody said no to us at that point netflix said no prime video said everybody said no uh so then there was this you know really nice thing that we had made but it was expensive um yeah so i felt really stupid then which is that you know the clarity that hit me then was i had spent the last you know half a decade somewhere in the middle three-fourths of a decade thinking about status but not optimizing for wealth right yeah at that time i was looking at you know all our competitors uh you know tvf had raised money from you know tiger global at that point and i remember thinking why would someone raise debt why would someone raise money would you have to owe investors i didn't have that kind of a growth mindset you know that aruna had uh i didn't understand how this money works i mean in fact i actually did actively we had meetings with many other investors you know after day raise after filter copy raise we didn't money meetings with investors where investors are like please take money and we were just like no why why there's why why should we take money we don't want us without a sellout yeah like yeah that's what that dumb artistic thought process right we didn't optimize for wealth which is what hit me after right um that's one of the reasons why i started clueless right which is because i really started understanding oh this is how money works and uh some of the positions were incredibly stupid and i was one of the first like vocal people on the you know on on in my circle of artistic friends i was like guys there's this different there's this thing called status and wealth let's talk about this because all of us are geared towards this one thing but we don't pay attention to the other thing and none of us are getting any younger like i was in my 30s then being like this is why am i looking at an empty bank account in my 30s after i've already you know done the hard work to be able to scale it yeah but were you angry at yourself or angry at somebody else i was angry at i was angry at a lot of people i was angry at everybody on the internet i was angry with myself i was angry with a lot of friends uh i was angry with a lot of people who stopped being friends um but yeah i spent a lot of time in in anger so it was one year of one and a half years of therapy where it's just it was it was quite ugly um but now when i look back i think the you know the two years of pain probably the most formative years of the new version of me absolutely needed absolutely needed it and now when i look back and i go like holy those two years were you know um in hindsight the best thing that could have happened for this new version of me um so it's true it's the it's that all the cliches are true yeah like it's just beyond pain is where real growth is and all that yeah yeah yeah never it seems like in those two years yeah you you experienced a decade [Music] that like the new the the second innings if i may use that of of than my butt is uh is is unlike what i don't know even you could have expected forget anybody else absolutely from you yeah and it's it's it's remarkable it is it is remarkable like i uh from from a distance and and i only have the privilege of observing you from a distance and not nearly up close it it it feels like you have found a very different you which is a lot more aware of who you are where you want to be how you want to do things and and still carries that middle finger to the world but but in a way that's always respectful of at least where you're coming from and you're just laughing my way through it which is which is always a good thing i like likewise i resonate a lot with your stories as well man uh i get it i i routinely text you saying hey i read this and i love this man i uh thank you i love it man i love it i love her i've like i love love it love to see people fall and get up it's a nice feeling yeah yeah and it's i think for me the most joy i feel is when i see people vibing with what they are doing in a way that they couldn't care to hoots about the world and it is crazy how that level of diffidence towards the world is also a large part of their success correct because the world then suddenly sees them in all right just a novel we can't famously pull that when you do something that looks like play to you but work to others is when you're in that zone and absolutely yeah it is um and i think uh i think you are a great example of that right like it takes people forget the amount of effort it takes to be so zeroed in on what you want to achieve and to create your own systems and do your own thing it's very easy to be distracted in this world right like in in the in this creator creation it's very easy to be distracted it's very hard to be razor focused on what is your plan and to be able to have a macro outlook towards hey i'm here i'm here now and i need to get here so what do i need to completely cut out to be able to focus um people forget how difficult it is to have a decade-long career in you know in in the public eye it's pretty hard or or even have a decade-long perspective i remember eight million youtuber and the team and everyone was so happy and blah blah blah and i like uh think about it this way guys [Music] we will have 10 million subscribers correct 10 million subscribers seems like the biggest far-fetched idea for anyone who wants to start but it's just 10 times of what you have done already and uh gets easier and for me it was just yeah it's like this is not a matter of if it's a matter of when and whether whether you want to do it for that long or not but no one's ever going to come in your way unless youtube shuts down or whatever happens or for that matter any other such platform so it's crazy how having a decade long milestone in your head just makes so many things achievable yeah so so tell me this and and this is something i'm very curious about so you're running two two yt channels right now mm-hmm uh i'm running for running oh okay two that i'm aware of that you're aware of the other so i have bought army clips oh yeah what are my clips and i have the super team podcast and you're also investing you're very active in web 3. you you also occasionally i don't know because of a choice or anything you're you're still writing scripts you're you're still actively involved in the in the creative scenario outside of just online where do you where do you make most money um until i make i have my first big exit which is i thought you would say that yeah until i have my first big exit uh branded content is still the most amount of money i make i have between the channels ad revenue unlike you are a saint you have ton of ad revenue i have not done that all right between the channels ad revenue um that would be the second largest uh chunk of money um [Music] whereas money ads are the least writing ads makes the least amount of money and it's the most amount of effort as well because every campaign is a multi-film campaign it's three films four films five films it's about two and a half months of work easy um yeah i mean the cred campaign is at least at least like it's it's a quarter right uh but it's high leverage work right it's like it's like going viral on someone else's money right everybody sees it um it's what gets me every inbound it's what keeps keeps me um relevant so to say it's also like once a year i really want to go viral once a year i've had it since 2011. i really like that feeling that you made something that everybody saw once a year um and most importantly it's i get to i get to write with the aib team again right they're all crushing it they're all doing their own thing and i just get to be in a room with them and have fun so that's a uh you know divaya me puneet it's it's really a joy um that's very fun um then there is affiliate links which is the smallest chunk for me um uh that is that i haven't uh that i haven't figured out yet but that is another source of income um what else i actually actually another revenue stream which i haven't focused on at all is stand up right um i'm actually gonna start working on a new special now when i'm back from uh towards the end of may and that's gonna unlock a whole new revenue stream hopefully next year when i'm selling tickets across usa australia that sort of stuff nice awesome awesome all right last couple of questions number one what what's one thing that may that you wish um time dude one thing that money what will you do with time what will what what what what more do you want to do that you don't have time for um i would make time go slower right let me rephrase it this way i wish money would buy health or de-age you right if there was a way for me to be 20 with the wisdom i have at 30 nothing like it but i guess if i had that wisdom at 20 i wouldn't have it at 30 right like it's you got to learn it over time uh oh what would what could money buy man you know the thing funny thing about money can buy you a lot of things on good actually yes people say money can buy you happiness it's that curve right which is to a certain degree if this is uh if this is happiness and this is money to a certain degree it can buy it sort of plateaus at the end like the difference between 50 million and 500 million is probably not significant but this is a pretty big delta it's yeah it's pretty good it changes a lot awesome all right three rapid fires pick between money and power um money power comes with it sure pick between uh 10 million dollars today or you 20 with what you know today uh me at 20 with what i know today i'd be 100 million dollars by now not 10 million what's the costliest thing that tanwebart owns oh costliest thing uh this com this computer is not more expensive than my car your computer is more expensive it's not it's not it's not it's not that's what i said but even the fact that you thought about it makes me yeah yeah yeah it's a it's a really good it's like it's it's my favorite thing in the world uh what's the costly thing i own today um the rent of rent no not even rent my car my car is the costliest thing that i own i own nothing that is costlier than seven seven lakh rupees are you serious i have no jewelry what else could it be i'm not pleasing what is my switches nothing it's a good thing it's a good thing if you don't have that answer it's a good thing that the costliest thing is a nine-year-old ford eco sport yeah yeah that's the most expensive thing that i have i have nothing else what is the costliest thing you would want to buy a private jet because yeah i would love to buy a private jet uh but i'd only buy it if i can afford at least 10 flights a year in the private jet and when i say 10 flights i mean cross cross continental flights uh i've thought about this okay i've even sat and done the math on what would it cost me to fly bombay to bangalore in a private jet um comes up to about seven eight lakh rupees okay one way yeah these private jets will have six to seven seats okay so if i split it between eight people that's about a lakh okay business class ticket is about forty five thousand so the actual gap is about 50 000 bucks okay and when i when i look at vlog ad revenue and i look at the flight seat i'm like this is probably a decent investment just to have that experience and vlog it so that can just paid off and net net i'm okay yeah it's it's crazy when you when you when you have a quantifiable way of making money you start saying it corporate it literally becomes so trivial in that sense that you start quantifying all like crazy yeah so private i also think that commercial commercial flights have not seen a significant um efficiency improvement in the last two decades right it's really irritating like the it's still like a door-to-door you add three hours door-to-door extra over the flight it's painful i'm just like you can make this simpler uh but i guess yeah but i'm pretty sure private jets are gonna get cheaper as we go as as we keep going right i think um i would definitely want to experience that i i think so too i think so too at some point we take care of it yeah most expensive thing you said right most expensive what i want to worry about um i want a young athlete's blood okay expense if you do get serious about it by the way i absolutely love it i love it so i have so uh i'm an investor in ultra human right so i have the cgm meter uh mohit who's one of the founders absolute genius uh he has he gives me insane insights i use an ordering uh for now i have a dashboard for everything i've lost 12 kilos in three months just looking at this like i've gotten very good at it now i think this is the year finally after 30 years um i have read about i first saw it in the show silicon valley i saw the person who's supposed to play the crazy billionaire he got a young athlete and he replaced blood or whatever then i started reading about biohacking and i started like this is not fiction this is real like billionaires really do this then i've started to look at every picture of jeff bezos in a suspicious way okay athlete tom brady so i would love to do that i think that would be nice sort of stuff is fun i am i'm glad you have your investments lined up sorry yeah it's awesome wonderful man this was a lot of fun thank you for opening up thank you for being so candid i always love you for for being so authentic because that that defines a large part of who you are i hope this is a successful experiment and i hope to i hope uh that i can come back again next year and we can do an update we will the next one will be in your private jet thanks guys thank you thank you all the best man take care always a pleasure bye my first book do epic is now out i would love for you to buy a copy of do epic on amazon.com you

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Id: jQSzZwsljG8

Length: 32min 46sec (1966 seconds)

Published: Sat May 07 2022