Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

With just 2 days to go before finance minister Nirmala Sitharaman presents the union budget 2024, various sectors are abuzz with their expectations from the first full fledged budget to be presented under PM Modi's third consecutive term. Most experts anticipate the budget to focus heavily on boosting consumer demand and accelerating infrastructure development. In fact, president Murmu has already hinted that the budget will be historic, both in its scope and announcements. As such, what is it that the Indian insurance industry, driven by IRDA's vision of "Insurance for all by 2047" want from this budget? Lets find out <h2>Capture the <keyword id="21409017" type="General" weightage="20" keywordseo="annuity-market" source="keywords">annuity market</keyword> </h2>Subhrajit Mukhopadhyay, Executive Director, Edelweiss <keyword id="19936531" type="General" weightage="20" keywordseo="life-insurance" source="keywords">Life Insurance</keyword> anticipates that the upcoming budget should tackle the issue of how annuities are taxed. Currently, they are completely taxable in the hands of customers, which reduce its attractiveness, vis a vis other retirement planning options like NPS (National Pension System). According to a recent report by UNFPA, the population of number of individuals in the country who are aged 60 or more is set to double to around 346 million in the next 30 years. As such, it becomes all the more important to create awareness regarding retirement planning, and ensuring the aged have a secure, stable source of income in their twilight years, which is where annuities come in. "India’s vast ageing population underlines its burgeoning pension and annuity market. Annuity caters to the key dilemma of a pensioner, for a life-long pension at a steady, guaranteed rate and exposes the investors to a reinvestment rate risk especially in a volatile interest rate scenario. Annuities are the only solution, which provide complete protection from the perspective of living longer (i.e. outliving one’s corpus), by providing a regular flow of income throughout one’s lifetime, purchased in lieu of a single lump-sum amount. Currently, tax incentive is offered for people to accumulate corpus in NPS under Section 80CCD (1b ). A similar incentive may also be extended to annuities", noted Mukhopadhyay <h2>Separate sops for <keyword id="19894985" type="General" weightage="20" keywordseo="health-insurance" source="keywords">health insurance</keyword> premiums </h2>One of the most vocal demands of the insurance industry at the moment is to increase the tax deduction limit for premiums paid towards life and health insurance. At present, individuals aged below 60 can claim an annual deduction of up to Rs 25,000 towards health insurance premiums paid for self, spouse or children. The limit goes up to Rs 50,000 in case of senior citizens. Mr. Rakesh Goyal, Managing Director, Probusinsurance.com hopes that the budget will raise this limit to Rs 50,000 for self, spouse, and children, and Rs 1 lakh for senior citizens. Anup Rau Managing Director &amp; Chief Executive Officer of Future Generali India Insurance Company Limited, agrees to this. “Making insurance products affordable and accessible to masses will be crucial to ensure India achieves “Insurance for All by 2047” – a goal set by IRDAI - and this calls for certain <keyword id="20071222" type="General" weightage="20" keywordseo="tax-incentives" source="keywords">tax incentives</keyword>. The deduction limit on health insurance premium under Section 80D has remained unchanged for the past nine years despite the fact that there has been a significant rise in healthcare costs across the country. Interestingly, India, which surpasses South Asian peers with a medical inflation rate of 14%, last witnessed an enhancement in the deduction limit in 2015-16. Also, these benefits need to be extended to the new tax regime as well since increasing health <keyword id="20998941" type="General" weightage="100" keywordseo="insurance-penetration" source="keywords">insurance penetration</keyword> is critical", he adds. Goyal goes a step ahead, and advocates for creating a separate exemption limit for insurance premiums, in addition to the existing threshold of Rs 1,50,000. "Right now, Indians get a tax exemption of Rs 1.5 lakh every year, but it's crowded with various financial products. We would expect the limit to increase or to establish a separate exemption limit specifically for life insurance premiums. This move would help increase countrywide insurance penetration", says Goyal. Krishnan Ramachandran, Managing Director and Chief Executive Officer (MD&amp;CEO) of Niva Bupa Health Insurance also advocates for the 80D tax exemption to be linked to inflation and revised periodically. Also, per him, tax exemptions should also extend to dependent family members like siblings. Syed Meraj Naqvi,CEO &amp; Principal Officer, Riskbirbal Insurance Brokers also thinks on similar lines. "Adding a portion of medical insurance premiums for tax relief alongside the current 1,50,000 deduction limit would not only ease financial burdens but also encourage the younger generation to embrace saving habits. It’s about nurturing a mindset of financial responsibility while ensuring adequate healthcare coverage for all", he notes. Parimal Heda, Chief Investment Officer, Go Digit General Insurance believes that a good way to increase insurance coverage amongst young individuals is by offering a significant tax discount. "This could also be considered particularly for first-time health insurance buyers, especially youngsters. A tax exemption of 200% of the premium amount can be considered under chapter VIA. This can later be reduced in a phased manner of four years to make the same at par with the existing tax benefit provided under Section 80D", Heda observes. <h2>Don't overlook home, vehicle insurance </h2>Even though motor insurance, which makes up for around 50% of the non-life insurance industry (sans health) grew at around 12.9% in FY24, touching Rs 91,781.3 crore, over 50% of vehicles don’t even have a third-party (TP) motor insurance. To counter this, Heda suggests a one-time tax exemption can be offered to people to renew their lapsed TP policy. Additionally, given the increasing frequency of natural calamities adversely impacting human property, it is necessary to increase home insurance penetration to protect homeowners. Per Heda, the government, with the help of RERA can make home insurance mandatory for new homeowners, for which a tax deduction of up to Rs 25,000 can also be considered on home insurance premiums. However, a word of advice. Do not wait for tax breaks, or budget announcements to buy a life, or health insurance in case you already don't have one. Get one right away!

Budget 2024: Three things the insurance sector want from FM Sitharaman this budget.

As Finance Minister Nirmala Sitharaman unveiled the Union <keyword id="19955368" type="General" weightage="20" keywordseo="budget-2024" source="keywords">Budget 2024</keyword>, all eyes were on the <keyword id="20024321" type="General" weightage="20" keywordseo="housing-sector" source="keywords">housing sector</keyword>, which has been a focal point for both developers and <keyword id="19907145" type="General" weightage="20" keywordseo="homebuyers" source="keywords">homebuyers</keyword>. Expectations were high for increased deduction limits on home loan interest repayments, higher principal repayment deductions, and more robust incentives for first-time homebuyers. Last year's budget focused on increasing <keyword id="20254620" type="General" weightage="20" keywordseo="affordable-housing" source="keywords">affordable housing</keyword> through the Pradhan Mantri Awas Yojana (<keyword id="19945794" type="General" weightage="20" keywordseo="PMAY" source="keywords">PMAY</keyword>), with a significant allocation to achieve the goal of "Housing for All." The <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword> had previously seen incentives for developers building affordable housing, such as tax holidays under Section 80IBA and increased allocation through the SWAMIH fund to improve liquidity for stressed projects. <h2>Major announcements in Budget 2024</h2>As per FM Sitharaman's 2024 Budget announcements, PMAY is set to add an additional 3 crore affordable housing — houses priced under Rs 40 lakh — in rural and urban sections of India. This will be accomplished with Rs 10 lakh crores, which includes assistance of Rs 2.2 lakh crores over the next five years. A provision of <keyword id="21240797" type="General" weightage="20" keywordseo="interest-subsidy" source="keywords">interest subsidy</keyword> to facilitate loans at affordable rates is also envisaged, the FM noted in her speech. “This is certainly pertinent – the affordable homes category has been seeing a decline in overall sales since the pandemic, to approximately 19% in H1 2024 from over 38% in the period before the pandemic in 2019,” notes Anuj Puri, Chairman of ANAROCK Group. “Consequently, this segment’s percentage share of the total housing supply in the top 7 cities also fell to 18% in H1 2024 from nearly 40% in 2019. Any boost to this vital segment is therefore welcome.” As per December 2023 reports, 65% of houses under PMAY-Urban had been completed and delivered to beneficiaries since the scheme was introduced in 2015. This amounts to over 78 lakh pucca houses out of the 1.18 crore sanctioned. The new addition to PMAY will thus attempt to more than triple the quadruple the number. <h2>Tax reliefs and transparent rental policies</h2>This year, the sector expected further <keyword id="20345361" type="General" weightage="20" keywordseo="tax-relief" source="keywords">tax relief</keyword> measures for homebuyers and developers. Key demands are aplenty, including increasing the deduction limit for home loan interest repayment from the current Rs 2 lakhs to Rs 3-4 lakhs for self-occupied properties, reintroducing tax exemptions for first-time homebuyers, standardising the definition of "Affordable Housing", and reducing GST on construction materials like cement and steel. However, there has been only disappointments on this front based on the announcements so far. However, in terms of the tax changes, the Budget has proposed a massive reduction in rental matters for the individual. While the current tax deducted at source (TDS) for Payment of rent by individuals or HUF under Section 194-IB stands at 5%, the new budget is set to bring this down to 2%, effective from October 1, 2024. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Angel tax to be scraped" mstype="2" mssubtype="0"></div>Further, the government has promised to enable and implement policies and regulations for efficient and transparent <keyword id="20071228" type="General" weightage="20" keywordseo="rental-housing" source="keywords">rental housing</keyword> markets with enhanced availability. <h2>Additional initiatives</h2>Further, dormitory-style accommodations have also been announced for industrial workers in public-private partnership mode with Viability Gap Funding (VGF) support and commitment from anchor industries. VGF is a scheme that helps support important infrastructure projects that may not be financially viable, through grants that total up to 20% of the total project cost. The FM also announced that policies and regulations for efficient and transparent rental housing markets with enhanced availability will be put in place, to ease the rental and home-owning process. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div>Markets are optimistic in the aftermath of these announcements, with many housing finance companies recording healthy gains since the speech. Puri notes that the renewed focus on rural and urban job creation, if effective, may provide some boost to affordable housing in even tier 2 and 3 cities. “The Finance Minister's allocation of ₹10 lakh crore to help 1 crore poor middle-class families buy houses will boost the demand for residential properties,” remarks Divyam Mour, Research Analyst at Samco Securities. ”This funding, along with interest subsidies, will greatly benefit real estate developers like DLF, Macrotech Developers, NBCC, and Sunteck Realty, as well as housing finance companies focused on the lower and middle classes, such as Aadhar Housing Finance, Aptus Value Housing Finance, and Aavas Financiers.”

Budget 2024: More affordable housing, lowered rent TDS — here’s what will change for the housing sector this year

After social media outrage over a Budget proposal making it mandatory to get <keyword id="22574399" type="General" weightage="100" keywordseo="tax-clearance-certificate" source="keywords">tax clearance certificate</keyword>s for going abroad, the government on Sunday clarified that the proposed amendment is not for all, and only those accused of financial irregularities or having substantial tax arrears need such clearance. The <keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">finance</keyword> ministry, in the Finance Bill, 2024, has proposed to add the reference of the <keyword id="20961832" type="General" weightage="20" keywordseo="Black-Money-Act" source="keywords">Black Money Act</keyword>, 2015, to the list of Acts, under which any person should clear his liabilities to obtain the tax clearance certificate. "The proposed amendment does not require all the residents to obtain the tax clearance certificate," the ministry said in a statement. As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax clearance certificate. Only in the case of certain persons, in respect of whom circumstances exist, which make it necessary to obtain a tax clearance certificate will be required to obtain such a certificate. The ministry said that the Income Tax department through a 2004 notification has specified that the tax clearance certificate may be required to be obtained by persons domiciled in India only in certain circumstances. These include - where the person is involved in <keyword id="22576180" type="General" weightage="20" keywordseo="serious-financial-irregularities" source="keywords">serious financial irregularities</keyword> and his presence is necessary in the investigation of cases under the Income-tax Act or the Wealth-tax Act and it is likely that a tax demand will be raised against him, or where the person has direct tax arrears exceeding Rs 10 lakh outstanding against him, which have not been stayed by any authority. The I-T department said that a person can be asked to obtain a tax clearance certificate only after recording the reasons for the same and after taking approval from the Principal Chief Commissioner of Income-tax or Chief Commissioner of Income-tax. Such a certificate is required to be issued by the income-tax authority, stating that such person has no liabilities under the Income-tax Act, or the Wealth-tax Act, 1957, or the Gift-tax Act, 1958, or the Expenditure-tax Act, 1987, it added.

After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters

<ul class="summary-list"><li>A couple in <keyword id="19903887" type="General" weightage="20" keywordseo="Kansas-City" source="keywords">Kansas City</keyword> gave their daughter a lump sum of $20,000 to spend on her <keyword id="19897921" type="General" weightage="20" keywordseo="wedding" source="keywords">wedding</keyword>.</li><li>Instead, she spent the money on buying a home, and she and her fiancé paid for their own wedding.</li></ul>When Mike's daughter got engaged, he and his wife wanted to help pay for her wedding. Mike, who asked Business Insider to only use his first name for privacy reasons, estimated that a wedding in the Kansas City, Missouri, area cost between $15,000 and $25,000 at the time, around 2015. Mike and his wife decided they could put $20,000 toward the wedding, but they knew <a target="_blank" href="https://www.businessinsider.com/iowa-mom-paid-bridesmaid-costs-daughters-weddings-2024-6">wedding spending</a> could get out of hand and that emotions tend to run high during the planning process. So instead of working closely with their daughter on her <a target="_blank" href="https://www.businessinsider.com/bridesmaid-spending-thousands-wedding-bridal-party-going-into-debt-2024-5">wedding plans</a> and talking through each potential cost, they came up with a straightforward solution: Give her and her fiancé a lump sum of $20,000 and let them do all the planning. "I didn't want to be telling my daughter what she could and couldn't do," he said. "She was an adult." Mike said the strategy took pressure off him and his wife and helped them avoid wrestling over who was buying what or what his daughter could or could not have. He also said it helped them contribute the amount they wanted without going over budget by adding things here and there. <a target="_blank" href="https://affiliate.insider.com?h=abe920391352f31b7bfb63e7d56282a1e59d1272bc0a1535696333881e4f711d&amp;postID=6662274fb38735ca9de4b0c6&amp;postSlug=kansas-dad-gave-daughter-money-wedding-bought-home-down-payment-2024-6&amp;site=bi&amp;u=https%3A%2F%2Fwww.theknot.com%2Fcontent%2Faverage-wedding-cost">The Knot</a> reported that in 2023, the national average cost of a wedding was $35,000, while the average cost in Kansas was $25,000. Still, most couples end up going over their budget. A <keyword id="22000662" type="General" weightage="20" keywordseo="Real-Weddings-Study" source="Orion">Real Weddings Study</keyword> by <a target="_blank" href="https://affiliate.insider.com?h=52bfc63bedf2d6677e230e7391afc32af7d668a5708d250254413bdae91b0d27&amp;postID=6662274fb38735ca9de4b0c6&amp;postSlug=kansas-dad-gave-daughter-money-wedding-bought-home-down-payment-2024-6&amp;site=bi&amp;u=https%3A%2F%2Fwww.theknot.com%2Fcontent%2Fhow-many-couples-spend-over-budget">The Knot</a> found that 56% of couples spent an average of $7,900 more on their wedding than they planned. While it's traditional for the bride's family to pay for a wedding, those customs are changing, especially as Americans get married later in life and are able to take on more of their own wedding costs. A study from <a target="_blank" href="https://affiliate.insider.com?h=1db0208231c65d164752ecfc33d616a95e799a3bf47ad147562aebb7a972524d&amp;postID=6662274fb38735ca9de4b0c6&amp;postSlug=kansas-dad-gave-daughter-money-wedding-bought-home-down-payment-2024-6&amp;site=bi&amp;u=https%3A%2F%2Fwww.theknot.com%2Fcontent%2Fwhat-brides-family-pays-for%23%3A~%3Atext%3DIf%2520you%2520and%2520your%2520partner%2Cof%2520the%2520bill%2520%2852%2525%29.">The Knot</a> found that it's now more common for couples and their families to split the costs evenly. Mike, his wife, their daughter, and her fiancé, were all happy with the lump-sum agreement. "Then they kind of tricked me," he said, laughing. "One day, they came home and said, 'Hey, we bought a house.'" The couple took the $20,000 and used it for a down payment on their home — before they had their wedding, which they then planned to pay for out of their own pockets. Initially, Mike was surprised, but he ultimately thought it was a good thing that his daughter and her fiancé paid for their own wedding. "If kids are not given carte blanche on wedding plans, if they're forced to budget from their own standpoint, the whole thing just doesn't get out of hand," he said. The couple held the wedding at the rose garden in Loose Park — a large public park in <a target="_blank" href="https://www.businessinsider.com/millennial-cost-of-living-nyc-kansas-city-midwest-rent-2024-1">Kansas City</a> — and at a popular reception hall. Mike said everything about the wedding seemed reasonable but he never learned what they ended up spending. "I never asked," he said. Mike said it might have bothered him if the couple had used the money for a down payment and then eloped. But as long as he and his wife were able to attend their daughter's wedding, they were happy. "I figured I got off for a reasonable amount of money for the wedding, and they got a down payment on a house out of the deal and a wedding," he said. Mike said he thinks too many people have gotten caught up in the lavish weddings they've seen on TikTok, which can take away from the "whole point of having a wedding, which is to have a marriage." He also said he thinks that helping his daughter and her fiancé learn how to budget for a wedding helped them learn how to budget in a marriage. Mike's wife did end up giving their daughter a bit more money in the end, which he thinks was for something to do with her dress. "She snuck it in," he said, laughing. "She couldn't resist." Have a news tip or a story to share about the costs of throwing a wedding or being in a bridal party? Contact this reporter at <a target="_blank" href="mailto:kvlamis@businessinsider.com">kvlamis@businessinsider.com</a>. Correction: June 7, 2024 — A previous version of this article misstated a figure from The Knot. It found that 56% of couples spent an average of $7,900 more on their wedding than they planned, not $7,600.

We gave our daughter $20,000 for a wedding, but she used it for a home down payment and paid for her own wedding. Everyone was happy.

<ul class="summary-list"><li>Sam Dogen and his wife retired in their 30s, raising two kids on a nearly $300,000 budget in San Francisco.</li><li>Dogen and his wife pull in well over six figures from passive investments and side gigs.</li></ul>Sam Dogen and his wife both <a target="_blank" href="https://www.businessinsider.com/early-retirement-overrated-financial-independence-fire-return-to-office-balance-2024-6">retired in their mid-30s</a>, haven't had a full-time job since the mid-2010s, and are raising two kids in <a target="_blank" href="https://www.businessinsider.com/moved-san-francisco-worth-it-cost-of-living-negativity-2024-2">San Francisco</a> on a budget of nearly $300,000.During their careers, they frequently <a target="_blank" href="https://www.businessinsider.com/couple-saves-most-of-income-share-their-money-mindset-philosophy-2024-4">saved over 80%</a> of their income and put most of their money into passive investments to achieve financial independence — meaning they could stop working and still have enough for their future expenses. After they both retired, which Dogen said is rare in the <a target="_blank" href="https://www.businessinsider.com/millennials-retiring-early-fire-movement-financial-independence-millionaire-savings-work-2024-5">financial independence, retire early</a> (FIRE) community, they had two kids, worked various side gigs from tennis coaching to Uber driving, and bought a new home in cash.Dogen shared his budget with Business Insider, which, for his family of four, he expects will be about $280,000 over the next year or so. He said his budget is high because he wanted to provide the best life he could for his kids before they go off to college."<a target="_blank" href="https://www.businessinsider.com/personal-finance/financial-independence-retire-early">FIRE</a>-ing with kids is like a superpower, a secret weapon," Dogen said. "FIRE-ing with kids, especially if you really love your kids, you like to spend everything on them, and then doing that in an expensive city is really, really hard."<h2 id="1b617fdd-efdb-4a7e-9a9a-61b5da74c34f">How a FIRE family budgets</h2>In 2012, Dogen reached <a target="_blank" href="https://www.businessinsider.com/fire-movement-financial-independence-retire-early-millennial-goals-saving-wealth-2024-5">financial independence</a> after 13 years in banking, predominantly in San Francisco. By the time he retired, his net worth was over $3 million, which he achieved by "living like a college student" for a few years and saving most of his money. His wife retired in 2015 at 35 and worked part-time until they had their first kid.Dogen said it took years of planning to figure out how to maintain financial independence with two kids in an expensive city.He was stressed about <a target="_blank" href="https://www.businessinsider.com/renting-housing-market-home-ownership-mortgages-affordability-real-estate-2024-5">buying</a> a larger home in San Francisco last year, selling off some of his investments and going back to part-time work. He said about 70% of his reasons for purchasing the home was to be a loving father so his kids could live comfortably before going to college.Similar to how he felt after leaving his $250,000-a-year job, he spent a few months feeling buyer's remorse over the home purchase. He contemplated whether he should've continued living frugally after doing so for two decades, though he eventually came to terms with the fact that he made the right decision.Still, this meant finding other places to cut back on spending. Using last year's budget, his family of four lives off $350,000 in San Francisco, and their net income is $223,840 after a 401(k) contribution, standard deduction, and tax bill. Meanwhile, their total expenses are practically equivalent to their net income.Their <a target="_blank" href="https://www.businessinsider.com/personal-finance/30-year-mortgage-rates">mortgage</a> has the highest annual cost at $46,800, and their property tax is $22,320. Utilities, property maintenance, and property insurance add another $10,260.<a target="_blank" href="https://www.businessinsider.com/childcare-too-expensive-unaffordable-2024-3">Childcare</a> and occasional babysitting for his younger kid cost $29,400, while preschool for his older kid costs $24,000 yearly. The family's food costs $25,548, and they contribute $12,000 to their kids' 529 college saving plans.Their healthcare costs are $10,200, while life insurance runs them another $2,040. Other family expenses include $7,800 for three family vacations, $6,000 for entertainment, including sporting events and social functions, and $4,200 for baby items.Their <a target="_blank" href="https://www.businessinsider.com/more-people-missing-car-payments-another-ominous-sign-for-economy-2023-10">car payment</a>, insurance, maintenance, and gas cost $9,360 combined. They also spend $4,800 yearly on clothing, $3,600 for charity, and $1,800 for a family phone plan.They anticipate their anticipated expenses starting in September 2024 to be about $280,000, while their pre-tax passive income will be about $275,000, as they sold a lot of stocks and bonds last year to buy a new home. Their unsubsidized healthcare insurance will jump to $2,500 a month, and they're adding $7,600 a month for both of their kids to attend Mandarin immersion school.Dogen noted they're not technically financially independent anymore, as he estimates there will be a $60,000 gap. He's hoping to accumulate enough capital again in the next few years so there's no passive income deficit."I wanted to own the nicest home I could afford while my kids were still at home," Dogen said. "It's not like I'm going to buy a nicer home once they leave college since I'm probably going to downsize. I made a conscious choice to blow up my passive income by like $110,000 to buy a nicer home to provide for my family."While he's considered moving to a less expensive part of the country, he said he values his strong network of friends and acquaintances, the city's cultural diversity, and the tech scene. He also said he feels safer as an Asian American in San Francisco than in many other parts of the country."A lot of people say, well, you can move to the Midwest and cut housing costs by 80%, but as an Asian American, it's not that simple to just go pick up and move to Memphis or Houston; it's diverse, but it's different," Dogen said. "There's this big blind spot for white people who are pursuing FIRE to just say, you can go live anywhere in the country that's lower-cost. I just don't think it's that easy for minorities to do that."<h2 id="325e0c9a-ad00-4e8a-addb-2b93f2faa630">Continuing to work</h2>In the years since retirement, he and his wife wanted to continue being <a target="_blank" href="https://www.businessinsider.com/personal-finance/mom-money-lessons-frugality-balance-2022-11">frugal</a>, living minimalist lifestyles. However, they both felt they could afford to invest in life experiences and a quality home. Though Dogen didn't want to return to an office, he felt unfulfilled without working.Though he retired at 35, he didn't fully leave the workforce. He maintained his <a target="_blank" href="https://www.financialsamurai.com/">blog</a>, which brought in over $1,000 in supplemental income. Between 2013 and 2015, he did part-time consulting, assisting startups in the Bay Area for 15 to 20 hours a week.He wrote a book, "How to Engineer Your Layoff," which generates about $30,000 annually. He and his wife also slashed their expenses by at least 40% by renting out their home and buying a fixer-upper on the west side of San Francisco.He also tried lower-income side gigs to follow his desires and continue building toward his actual retirement. He drove over 500 rides for Uber, estimating he made about $30 an hour.He also worked as a high school tennis coach, making $1,100 a month, which, he said, allowed him to learn how to deal with high school boys years before his son reached that age.His wife taught piano lessons in her spare time, in addition to helping him edit his book and blog articles.Still, most of his time has been spent being a stay-at-home dad. Once his younger kid attends school, he's looking for the next challenge.He's itching to "fill that void" with part-time consulting work in the tech or startup industry, hoping to get more involved with AI companies in San Francisco. He did fintech consulting from November 2023 to April 2024 but stepped away after it became too much work."Both kids will go to school full-time, leaving us with 40 hours a week to twiddle our thumbs," Dogen said. "After you've been doing something for a long time and put in so much effort, you're going to feel this trough of sorrow that I've experienced before."Are you part of the FIRE movement or living by some of its principles? Reach out to this reporter at <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a>.

A couple who achieved financial independence and retired in their 30s shares their $280,000 a year budget raising 2 kids in San Francisco

Ahead of the <keyword id="6360189" type="General" weightage="50" keywordseo="union-budget" source="Orion">Union Budget</keyword>, Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> said on Sunday that she was aware of the pressures of the middle class but also recalled that the present government has not imposed any fresh taxes on them. <keyword id="679937" type="General" weightage="70" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> will present Union Budget for 2023-24 in the Lok Sabha on February 1 amid expectations that the government will raise the income tax limit and provide relief to the middle class taxpayers, besides others. "I too belong to the middle class so I can understand the pressures of the middle class. I identify myself with the middle class so I know," she said while speaking at a function organised by the Panchjanya magazine, an RSS- associated weekly. In the same breath, the minister reminded the audience that the present Modi government has not imposed any fresh taxes on the middle class. Also, she added, income of up to Rs 5 lakh is exempt from the income tax. She said the government has taken various measures like developing the metro rail network in 27 cities and building 100 smart cities to promote ease of living. The minister assured them that the government can do more for the middle class as its population is growing and it has become sizeable now. "I quite recognise their problems. The government has done a lot for them and continue doing the same," she said without making any commitment. Sitharaman said the government has been raising the outlay on capital expenditure in each Budget since 2020. For current financial year, she said, it has been increased by 35 per cent to Rs 7.5 lakh crore as it has a multiplier effect on the economy. On the banking sector, she said, the government's 4R strategy --Recognition, <keyword id="1518048" type="General" weightage="50" keywordseo="recapitalization" source="Orion">Recapitalization</keyword>, Resolution and Reform--has helped in revival of public sector banks (PSBs). As a result of this, non-performing assets (NPAs) have declined and health of PSBs has improved greatly, she said. The government implemented an unprecedented recapitalization programme for PSBs amounting to Rs 2.11 lakh crore to support capital adequacy and prevent their default. PSBs turned the corner during 2020-21 with a combined net profit of Rs 31,820 crore supported by massive recovery, reduction in NPAs and windfall gains on their bond portfolio. Subsequently, the combined profit more than doubled to Rs 66,539 crore in FY22 despite COVID-19 pressure. They had booked collective losses to the tune of Rs 2,07,329 crore for five straight years from 2015-16 to 2019-20. The <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> last month said, banks' gross NPA ratio has fallen to a seven-year low of 5 per cent and the banking system remains sound and well-capitalised. Speaking about farmers, Sitharaman said the government is committed to doubling their income and has taken various steps in that direction. On trade with Pakistan, she said the neighbouring country never offered Most Favoured Nation (MFN) status to India. Trade relations with Pakistan have suffered since the Pulwama terror attack in 2019, she said. With regard to freebies, the minister said, promises have to be made keeping in mind the financial health of the state and there has to be full transparency about it. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/more-unicorns-focused-on-profitability-now-than-just-burning-cash-as-funding-winter-sets-in/articleshow/97030045.cms">More unicorns focused on profitability now than just burning cash as funding winter sets in</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/over-5-4-lakh-housing-units-to-be-completed-across-top-7-cities-in-2023-anarock-report/articleshow/97029912.cms">Over 5.4 lakh housing units to be completed across top 7 cities in 2023: Anarock report</a>

I belong to middle class, understand their pressures: Sitharaman before Budget

As the day for the presentation of <keyword id="6360189" type="General" weightage="80" keywordseo="union-budget" source="Orion">Union Budget</keyword> 2023-24 nears, Finance Minister Nirmala Sitharaman and her team of officials are burning the midnight oil to unveil the nation's record of income and expenses on February 1. IANS takes a look at the nine individuals who are the brains behind the annual exercise. <ul><li>Nirmala Sitharaman, Finance Minister</li></ul> Nirmala Sitharaman will be presenting her fourth Union <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> on February 1. She has helmed the Finance Ministry during the two tumultuous years of the Coronavirus pandemic and has piloted several economic relief packages, to help tide over the challenges posed by the pandemic. Sitharaman is now negotiating the risks to the domestic economy from the prevailing tricky global geopolitical situation as well as problems being posed by the ever-depreciating rupee. The forthcoming Budget would test her mettle, as she would have to come up with solutions to the various economic challenges being faced by the nation's economy. <ul><li>T.V. Somanathan, Finance Secretary</li></ul> The 1987-batch IAS officer from the Tamil Nadu cadre was earlier a Joint Secretary in the Ministry of Corporate Affairs and with the Prime Minister's Office (PMO) from 2015 to 2017. Under him, capital expenditure has surged and efforts are also on to boost the capex of states. Somanathan holds a doctorate in economics and is also a qualified chartered accountant (CA), cost accountant and company secretary. <ul><li>Ajay Seth, Economic Affairs Secretary</li></ul> The Karnataka cadre 1987-batch IAS officer is one of the most significant members of the Finance Minister's team, as the budget division, which collates all data, is under his watch. Seth also has the additional responsibility of co-chairing the G20 central bank and finance minister's meetings. <ul><li>Tuhin Kanta Pandey, Secretary in the Department of Investment and Public Asset Management (DIPAM)</li></ul> The Government in recent years has tempered its disinvestment targets, and even the Coronavirus pandemic has hit its plans. However, Tuhin Kanta Pandey can be credited for overseeing the Air India sale under his watch. <ul><li><keyword id="301743" type="General" weightage="80" keywordseo="sanjay-malhotra" source="Orion">Sanjay Malhotra</keyword>, Revenue Secretary</li></ul> A 1990-batch IAS officer of the Rajasthan cadre, Sanjay Malhotra was recently shifted to the revenue department from the department of financial services. He faces the arduous task of balancing revenue expectations, especially those related to GST compensation. <ul><li>Vivek <keyword id="6157" type="General" weightage="80" keywordseo="joshi" source="Orion">Joshi</keyword>, Secretary, Financial Services</li></ul> A new face in the ministry which governs the banking sector, Vivek Joshi came as a successor to Sanjay Malhotra in October last year. A 1989-batch IAS officer of the Haryana cadre, Joshi has a MA and PhD in international economics from the Geneva Graduate Institute. <ul><li>V. Anantha Nageswaran, Chief Economic Advisor</li></ul> V. Anantha Nageswaran became the Chief Economic Advisor (CEA) just days before the Budget for 2022-23 was presented. He will pilot the drafting of the economic survey for 2022-23, which will be tabled in the Parliament on January 31. Nageswaran has a PhD in finance from the University of Massachusetts Amherst and an MBA from the Indian Institute of Management (IIM), Ahmedabad. <ul><li>Nitin <keyword id="6356160" type="General" weightage="80" keywordseo="gupta" source="Orion">Gupta</keyword>, Chairman of CBDT</li></ul> Nitin Gupta is a 1986-batch Indian Revenue Service (IRS) officer, who heads the Central Board of Direct Taxes (CBDT), the administrative body of the income tax department. Gupta is currently serving as a member (investigation) in the CBDT. <ul><li>Vivek Johri, Chairman, CBIC </li></ul> Vivek Johri is the Chairman of the Central Board of Indirect Taxes &amp; Customs (CBIC) and special secretary to the Government of India.A An IRS (Customs &amp; Indirect Taxes) officer of the 1985 batch, Johri has served in a number of roles encompassing the entire gamut of indirect tax administration, especially in policy formulation. His tenure as a member (GST) saw many important changes carried out in GST law and procedure, both for easing the compliance burden on taxpayers and tighter enforcement for tackling tax evasion. He also played an active role in laying the policy foundation for rolling out GST and was instrumental in drafting the Constitution (115th Amendment) Bill, 2010 which laid the foundation for GST in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-session-of-parliament-from-january-31-to-april-6/articleshow/97061098.cms">Budget Session of Parliament from January 31 to April 6</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/gold-prices-hit-life-time-high-amid-looming-recession-hope-that-fed-will-slow-its-rate-hikes/articleshow/97061060.cms">Gold prices hit life-time high amid looming recession &amp; hope that Fed will slow its rate hikes</a>

Finance Minister & the other brains behind the Union Budget who are burning the midnight oil

Kolkata, Independent Hindi films are not earning as much revenue as they did even four-five years back and such small-budget movies should be run for at least a week in theatres for word-of-mouth promotion, director <keyword id="157284" type="General" weightage="20" keywordseo="vikramaditya-motwane" source="Orion">Vikramaditya Motwane</keyword> has said. An <keyword id="3178970" type="General" weightage="20" keywordseo="independent-film" source="Orion">independent film</keyword> or 'indie film' is a movie that is brought out mainly by people outside the mainstream industry, generally without the involvement of major studios. "What is happening is unfortunate. Filmmakers and writers are experimental. They are coming up with new ideas, but the audiences are fewer. Hindi <keyword id="1511709" type="General" weightage="20" keywordseo="indie-films" source="Orion">indie films</keyword> are struggling now to get an audience when compared to the response received by films like Court or Masaan a few years back," Motwane said. 'Court' (2014), Chaitanya Tamhane's directorial debut, is a courtroom drama involving a teacher cum protest singer who was accused of abetting the suicide of a sewer worker. The film won several awards. Another indie film 'Masaan' (2015) tells the tale of four persons who confront personal tragedies. This movie won a national award. "These good content small budget films had got support from the audiences. But the situation has changed post-pandemic," Motwane told PTI on the sidelines of an event. Independent films need theatres to be screened so that people can watch them, said the director of 'Bhavesh Joshi Superhero' (2018). "If an independent small-budget film cannot run for a week, how can there be word of mouth (publicity) after two-three days? People need to watch it and know its contents," he said. In the USA with a population of 33 crores, there are 30,000 theatres and, in the case of India, only 10,000 halls serve 130 crores of its people, Motwane said. If there are more theatres, more people will be able to watch indie films, he said.

Indie films take a hit post-pandemic says movie director Vikramaditya Motwane

The <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> has left the life insurance industry a worried lot with the new tax proposal on higher premium annuity products, a move which the industry fears will hit their top-lines by 10-12 per cent. Leading private life insurer <keyword id="472962" type="General" weightage="50" keywordseo="hdfc-life" source="Orion">HDFC Life</keyword>'s chief executive <keyword id="323997" type="General" weightage="50" keywordseo="vibha-padalkar" source="Orion">Vibha Padalkar</keyword> told PTI that she stares at 10-12 per cent hit on the company's top-line with the Budget proposal to tax life products having annual premium of over Rs 5 lakh. She also fears that the increased tax exemption bracket of Rs 7 lakh and the steep reduction in the maximum surcharge on the affluent to 39 per cent from 42.74 per cent earlier may nudge them to spend more and save less. This can have many cascading impacts on the macro sector by way of a spike in the already high inflation, apart from the life insurance sector which has been facing sales issues since the Covid pandemic as people were not investing in long-term savings. And since the opening up of economic activities, many are on a "revenge spending mode" and not investing in financial products even now. Given the overall increase in incomes, the government should have either ignored the new tax levy on insurance products or it should have imposed tax on products with premium of Rs 10 lakh or upwards. At this level, it will definitely hit the industry hard, she added. The industry was expecting a proposal to offer composite lincence for the insurance sector wherein life insurers would be allowed to renter the health business which they were doing till 2015. Besides, the insurance sector players were also expecting some positive moves on the annuity products front. <keyword id="699506" type="General" weightage="50" keywordseo="tarun-chugh" source="Orion">Tarun Chugh</keyword>, chief executive of <keyword id="138574" type="General" weightage="50" keywordseo="bajaj-allianz-life" source="Orion">Bajaj Allianz Life</keyword>, said the tax proposal on higher value non-Ulip or traditional life policies "is bit of a dampener for the insurance industry and for increasing penetration of insurance and household financial savings." "We as a market still have quite low insurance penetration and there is a need to provide measures and incentives to boost that in the coming years. Also, household financial savings have been falling and insurance is a critical component of that. Household financial savings as percentage of GDP has fallen from 8.1 per cent in FY20 to 6.5 per cent in FY23, he said and warned that discontinuing incentives on insurance plans should put further pressure on household financial savings to some extent. Vighnesh Shahane, chief executive of <keyword id="10687373" type="General" weightage="50" keywordseo="ageas-federal-life-insurance" source="Orion">Ageas Federal Life Insurance</keyword>, said the finance minister has announced that from April income from life insurance policies, other than Ulips, with an aggregate premium amount of Rs 5 lakh per annum or more, which was earlier tax-free, will now be taxable. But she said if the insured person dies in between, the death benefit will continue to remain tax-free. The move is similar to the proposal introduced a couple of years ago which imposed tax on the maturity amount of Ulips if the annual aggregate premium exceeded Rs 2.5 lakh, he said. The proposal is likely to dent the sales of non-par products which have been witnessing strong growth over the last few years, especially during the pandemic. As the cap of Rs 5 lakh is applicable for all life policies across insurers, it may deter individuals from purchasing additional policies if they have exhausted their limit with their primary insurer, he explained. <keyword id="14942220" type="General" weightage="50" keywordseo="supriya-rathi" source="Orion">Supriya Rathi</keyword>, a wholetime director at <keyword id="2647323" type="General" weightage="50" keywordseo="anand-rathi-insurance-brokers" source="Orion">Anand Rathi Insurance Brokers</keyword>, opined that the budget has "given bad news for life insurance companies" by limiting the income tax exemption on proceeds of insurance policies.

Life insurers stare at 10-12% hit on top-line as Budget taxes higher premium products

<ul class="summary-list"><li>It took me about 10 years to travel to every country in the world on an unbroken journey without flying.</li><li>The expedition required sponsorship, fundraisers, and two loans to be financially possible.</li></ul>This as-told-to essay is based on a conversation with 44-year-old Denmark native Torbjørn "Thor" Pedersen. It has been edited for length and clarity. Although world travel isn't well-documented, record-keeper Harry Mitsidis <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.cntraveler.com/story/inside-the-exclusive-club-of-travelers-racing-to-visit-every-country-in-the-world">told Condé Nast Traveler</a> that about 199 people had traveled to every country; claims appear to be based on the honor system, the magazine reported. Pedersen spoke to Insider while he was still on his journey. He finally <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.cnn.com/travel/thor-pedersen-visited-every-country-returns-home-intl-hnk/index.html">returned</a> home to Denmark on July 26.I've worked on shipping logistics in a number of different places around the world, so I've always had this interest in cultures.In January 2013, my dad sent me the link to an article about world travelers, and this was the first time it dawned on me that you could go to every country in the world.At 34 years old, I'd been to 50 countries. That had cost a ton of money, so I figured you had to be a millionaire, or spend your entire life traveling, to be able to go to every single country. Back then, only about 200 people had achieved this, but no one had done it completely without flying. That struck a chord with me. These days, it feels like everything has been done — and there's nothing left for the rest of us. I started toying around with the idea, and I thought I'd spend one week in each country for a total of four years of traveling.It became an idea I couldn't shake off, so I found sponsorships, set a date, and came up with a project name. I left Denmark thinking I would be back after four years.This has, for the most part, been somewhat of a nightmare. I've been wanting to go home since 2015.<h2>The budget was about $20 per day</h2><div type="image" title="Thor Pedersen standing on train platform in Sri Lanka" height="2832" width="4240" msid="102458302" hostid="261" sizebytes="1415626"></div>I'm a business-oriented guy, and I didn't want to do this if I was going to have to pay for it. I needed to work out something financially.The project budget has been 20 US dollars per day. Over the course of the 3,576-day project it amounts to about $71,520.It has covered transportation, accommodations, meals, and visas, and it's been sponsored by Ross Energy — a Denmark-based geo-thermal energy company. The budget didn't include additional costs of medical checkups, new passports, a new laptop, and repairing or replacing items, which would've made the project cost twice as much.This has by no means been a holiday. This has been a hardcore logistics, hardcore bureaucracy. Pretty much from the get-go, I've been behind the timeline. I've been pushing, and saying, "I have to get this done. I have to get paperwork. I have to go, go, go, go."Although I'm not limited to only spending $20 — as visas can cost $150 — I'm constantly looking for the cheapest options for travel and accommodations. If there's a VIP bus with windows, air conditioning, WiFi, and hardly any stops between A and B, then it's too expensive.I've primarily stayed in hostels with other roommates, used couch-surfing apps, and eaten street food for the same reason.I traveled across the North Atlantic on several different types of ships — fishing boats, shipping containers, and whatnot. I've been on 40 container ships, and I've built relationships with these companies. I would tell them, "This is a historical project. You are taking part in history. If you help me board your ship, you are a part of something bigger."Sometimes that worked. Other times, they didn't care, and I relied on ferry boats, banana boats, sailboats, and cruise ships.I traveled for a year and-a-half or so, then I lost my income for the project. So, I depleted what I had in my own bank account, which wasn't a part of the plan.I sold a tiny old sail boat I had, I took out a loan, and a second loan. Then, I asked the few followers I had and said, "I'm running out of money here. If you like what I'm doing and you want to pay, here's an option."The crowdfunding coupled with money I earned from speaking engagements and writing articles was enough support until Ross Energy resumed my sponsorship with 75% of the budget.Then, in 2020, I got stuck in<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.insider.com/man-traveling-every-country-without-flying-torbjorn-pedersen-2020-4"> Hong Kong due to the pandemic</a>. After 11 months, immigration forced me to take a job, so I got one servicing container ships that paid a little, but gave me a free place to stay.<h2>This probably won't happen ever again</h2><div type="image" title="Thor Pedersen pointing at world map" height="1334" width="2000" msid="102458304" hostid="261" sizebytes="186940"></div>Two years in, I didn't feel that there was any real respect for what I was doing. I think most people just saw it as a really long holiday on my part, but I was working my ass off.There was really no reason for me to continue. At the time, I was recovering from cerebral malaria, I'd lost financial sponsorship, and my long-distance relationship to the woman who's my wife today wasn't doing well.It went from being 99% adventure and 1% work, to being 99% work and 1% meeting people, adventure, and the good stuff.I was in physical and mental pain. There was a lot of hardship. I just didn't want to give up on the title. I could be the first in history to do something. I figured if I just push harder, I will eventually get through to a point where it gets a little bit easier, and it will get better and every step will be a step closer to the goal.I wanted people to see parts of the world and see what was going on, and just kind of see the world in a different light — not a negative one. I'm a goodwill ambassador of the Danish Red Cross. I've met with the Red Cross in 199 countries around the world.Within a decade or so it'll be 1,000 people who have been to every country. It gets easier as long as you have all forms of transportation open to you. If you limit yourself so that you cannot fly — especially if you can't go home in between — it's highly unlikely this will ever happen again.<h2>I hope there's still time for more</h2>Over the last 10 years, my wife has come out to see me in various places around the world about 27 times. My family has come to see me, and I've met tens of thousands of people along the way. I've lived with strangers in exchange for culture and companionship, and I became a brand ambassador for sports equipment company Salomon.I'm working with some filmmakers on a documentary set to come out in 2024, and I'm working on a book that I hope will be ready in the same year. I want to see if I still have a chance to start a family with my wife or if it's too late.I've been gone for nearly a decade, so I'm going to have a hard time returning home. Some days are going to be better than others, but I'm now among the most traveled people in the world.

I traveled to every country in the world without flying and survived on a $20 daily budget for 10 years. It was a nightmare.

<ul class="summary-list"><li>Neuralink's human trials have had thousands of applicants, per Bloomberg.</li><li>Elon Musk's brain chips have amusing similarities to the plot of 2015 movie "Kingsman: The Secret Service."</li></ul>Thousands of people are clamoring to have an eccentric billionaire <a target="_blank" href="https://www.businessinsider.com/brain-chips-elon-musk-neuralink-change-personality-behavior-computer-tech-2023-2">implant a microchip into their brain</a>.That's not just what's going in real life with <a target="_blank" href="https://www.businessinsider.com/interest-neuralink-human-trial-patient-elon-musk-brain-implant-report-2023-11">Elon Musk's Neuralink</a>, it's also the plot of the 2015 spy caper "Kingsman: The Secret Service," which shares a bunch of amusing similarities to Musk's real life plans.Neuralink received approval for human trials in May. And according to a <a target="_blank" href="https://www.bloomberg.com/news/features/2023-11-07/elon-musk-s-neuralink-brain-implant-startup-is-ready-to-start-surgery">Bloomberg report</a> from Musk biographer Ashlee Vance, thousands of people are lining up for the opportunity.The process will involve the patient having "a chunk of their skull removed by a surgeon so a large robot can insert a series of electrodes and superthin wires into their brain," Vance wrote."Kingsman: The Secret Service," which stars Colin Firth, Samuel L. Jackson, and Taron Egerton, features a similar neural implant as a key plot point.In the movie — which parodies British spy films like the "James Bond" series — eccentric tech tycoon Richmond Valentine, played by Jackson, announces a plan to give everyone in the world SIM cards with free phone and internet access.As the movie progresses, it transpires that Jackson's character can control the SIMs remotely, and wants to put into motion a Malthusian plan to cut the increasing global population by triggering a signal from the chips that makes their users kill each other.It turns out that chips have been implanted into the brains of the global elite, from wealthy executives to the head of the secret service, with the elites signing up to Valentine's plan in exchange for protection from his deadly signal via the chips.But the plan is scuppered as the secret agent Eggsy, played by Egerton — a member of the organization "Kingsman" — sneaks into Valentine's bunker, while another agent hacks into the implants and makes them explode, killing the elite.The film, which grossed over $400 million worldwide, came out two years before Neuralink was founded — though it seems unlikely Musk took any inspiration from a mid-budget action movie for his plans.And Musk won't look to ape Jackson's fictional Valentine by controlling people's minds with Neuralink's chips, because <a target="_blank" href="https://www.insider.com/brain-computer-interface-what-is-it-how-does-it-work-2022-9">brain-computer interfaces</a> don't actually allow that. Instead, the brain controls the computer, and its possible applications for those with diseases like ALS could be significant.The two also differ in cutting the world's population. <a target="_blank" href="https://www.businessinsider.com/elon-musk-wrong-about-fertility-rates-global-warming-demographers-say-2022-9">Musk is certainly not a believer in depopulation</a>, and has frequently stated his belief that the planet needs more people on it, not less.Neuralink is also evidently wary of any potential accidents.Shivon Zilis, Neuralink's director of special projects and mother of <a target="_blank" href="https://www.businessinsider.com/elon-musk-shivon-zilis-children-twins-ivf-population-sperm-donor-2023-9">twins with Musk</a>, joked with Vance — referring to a number of failed rocket launches for SpaceX, another of Musk's companies: "We can't blow up the first three. That's not an option here."<h2>Musk has long been jokingly compared to a supervillain</h2>Internet users have long joked that Musk holds many similarities with science fiction and action movie villains, often comparing him to the likes of Hank Scorpio, a cartoonishly evil villain masquerading as a legitimate businessman in "The Simpsons."<a target="_blank" href="https://www.businessinsider.com/elon-musk-admits-he-is-the-simpsons-supervillain-hank-scorpio-2019-11">In 2019, Musk even jokingly agreed that he was actually Scorpio</a> in a tweet responding to discussions about a flamethrower he put into production via his business, The Boring Company.Parallels between Musk and Jackson's Valentine have also been made frequently, with memes comparing the pair being shared sporadically online for several years.Several Reddit threads over the years have made tongue-in-cheek comparisons between Musk and Jackson's character, <a target="_blank" href="https://www.reddit.com/r/movies/comments/39cvgq/is_elon_musk_the_real_life_version_of_the_villian/">sharing similarities between the pair.</a>Musk is even seemingly briefly mentioned in the movie, when Valentine speaks to someone called "E" on the phone to ask to borrow a satelitte.

Elon Musk's plan to implant chips into people's brains shares amusing similarities to a 2015 British spy movie featuring an eccentric billionaire played by Samuel L. Jackson

You Searched For "Budget 2015" and got 11 results

Budget 2024: Three things the insurance sector want from FM Sitharaman this budget.

Ira Alok Puranik

Budget 2024: More affordable housing, lowered rent TDS — here’s what will change for the housing sector this year

Ankush Banerjee

After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters

PTI

We gave our daughter $20,000 for a wedding, but she used it for a home down payment and paid for her own wedding. Everyone was happy.

Kelsey Vlamis

A couple who achieved financial independence and retired in their 30s shares their $280,000 a year budget raising 2 kids in San Francisco

Noah Sheidlower

I belong to middle class, understand their pressures: Sitharaman before Budget

PTI

Finance Minister & the other brains behind the Union Budget who are burning the midnight oil

IANS

Indie films take a hit post-pandemic says movie director Vikramaditya Motwane

PTI

Life insurers stare at 10-12% hit on top-line as Budget taxes higher premium products

PTI

I traveled to every country in the world without flying and survived on a $20 daily budget for 10 years. It was a nightmare.

Jordan Hart

Elon Musk's plan to implant chips into people's brains shares amusing similarities to a 2015 British spy movie featuring an eccentric billionaire played by Samuel L. Jackson

Pete Syme

Popular Keywords

Buying Guides