#FinimizeCommunity in New Delhi
Written by Divya Gupta, Dialogue Room founder and Finimize Community Leader in New Delhi
What do a pilot, a doctor, a lawyer and two finance guys have in common?
Nothing really, other than the longing to create wealth.
If you haven’t heard already let me hit rewind, the first ‘Finimize’ event took place in New Delhi, India. A newsletter birthed in London that aims to provide jargon-free financial information. They are on a mission to empower everyone to become their ‘own’ financial advisor, with the help of the right tools, knowledge and of course, access to the right people.
Coffee sangrias 🍸
Over some coffee sangrias at 3 PM (yes, they are a thing in New Delhi) us misfits tried to breakdown the markets, investment and the idea of wealth in today’s day and age. Back in our grandfather’s generation, if you had a couple of hundred dollars saved up, you would have invested in a small plot or property, then just sat back with lemonade and saw it increase in value.
Creating wealth was simple, restricted to specific sectors and required minimal knowledge. Forward 2019, the trade war, coupled with inflation, give or take a financial crisis or (two) we are a generation stuck in trying to become “wealthy” and hoping it’s still relatively simple.
So here we are mid-afternoon trying to push through the information asymmetry that we face in the field of finance. There is no dearth of information, and everyone has a point of view. Michael J Burry says to invest in water. He was one of the investors who predicted the housing bubble collapse of 2008. If you were to take his advice, it would be a safe bet.
Creating a diversified portfolio was another suggestion, invest in different commodities and have a healthy balance of debt vs equity in your portfolio. A simple rule to follow, have enough debt in your portfolio as your current age, keeping an account that you will live till 70 years or so. Quick Math: If I am 30 years old, I will want around 40 % debt in my portfolio. The idea is that you can have a riskier portfolio at a younger age because you have more time for the markets to settle down and better your investment.
Only trade in stocks if you have the time and patience to track company earnings and read investment reports. It’s a full-time job and requires a great deal of interest.
It’s simple yet not as simple.
So us misfits realised the first step is to break finance down, eradicate the jargon and have structured conversations. And that’s how the Finimize community has been created, a group of finance hungry people trying to find the right information in the right way in the right environment.
Currently, the Finimize community boasts around 34 global ambassadors situated all around the world, creating events in the hope of getting people together to address the elephant in the room. We have a straightforward idea to make finance easy and create a meaningful dialogue to help each other out. It’s about bringing people together from every genre at the bar top table and discuss experiences which can make the finance world easy, approachable and relatively more uncomplicated than reading the financial times.
Finimize is a platform run by like-minded people for the people. We may not be able to guarantee a company stock going up in value, but we can ensure hands-on knowledge, information, workshops that can help you target the right company or individual.
Here is a list of the Finimize community events happening across the world, make your life a little easier by attending one of these. Networking is the next big thing and a mutually beneficial process. You never know how the person sitting next to you can help shape your life.
