Why is Paytm India's Top Startup?

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Paytm was launched in 2010 as an Indian start up. The original service of Paytm was to help users to make their bill payments and recharge mobile phones, while earning reward point. In this post we will see the reason why Paytm is considerd the top indian startup and get more details about this startup. What is Paytm? Paytm was founded by Vijay Shekhar Sharma, in Noida with an initial investment of $2 million. Paytm's parent company One97 Communications which is also owned by Vijay Shekhar Sharma was started in 2000 and operates into multiple fields. Who owns Paytm? Paytm has been backed by Jack Maa's Alibaba and Ratan Tata of the infamous TATA Group. Although partially owned by Chinese company Alibaba, Paytm remains an Indian company with majority of stake holders being Indians (primarily Ratan Tata and Vijay Shekhar Sharma himself.  What got Paytm the required boost? Paytm added a lot of features in 2013 and moved from a mobile and DTH recharge service to an online payment pl
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What is FIRE Living?

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FIRE stands for Financial Independence, Retire Early.
A concept that is popular with the millennials and it is spreading like a FIRE.

So what is the concept of FIRE?

This is not an MLM scheme where there are big farce promises at the end. It is not even an investment technique. Simply put, it is a way of life.

The Intention:
People who follow this concept have an intention to retire early. Save as much as you can and retire as early as the 30s or 40s. That's over a decade of early retirement.

Process:
When you are starting out, you live a very frugal life. Saving most of your earnings and investing in the right places. You don't have to have a fancy job or have a big business to live this life and retire early.

Some of the examples of this frugal living are, taking a bike to work, or not smoking and not drinking. Saving up to half of the money you earn and invest properly. It will not make you rich overnight but it will add up at the end so you can retire early.

How much do you need to retire?
The concept is to earn and invest enough to last your rest of the life. A thumb rule is that you need to invest 25 times of the amount you need every year.

Do you actually retire?
Most of the people do not actually retire. They find a simpler job, focus on their hobbies, do what they love doing. The financial independence gives them the option to get out of the corporate rat race and follow their heart. 

To conclude, there are a lot of lifestyle changes that you can do in your life that can lead you to live a FIRE life. The concepts of Jugaad and frugal living can help you achieve this.

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