Celebrating Financial Independence With Bounce’s CEO, Vivekananda Hallekere: What are His Hacks at Building Wealth?

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In the previous chapter of, ‘Celebrating Independence with Wint Wealth’, we had a candid conversation with Indiagold’s founder, Deepak Abbot. Today, we converse with Bounce’s CEO Vivekananda Hallekere.

 

Bounce is an idea like no other, which in a way has revolutionised the Indian transport and logistics industry. In this one-on-one conversation with Vivekananda, we ask him interesting questions regarding investing, the debt market and his smartest financial decisions.

 

Let’s begin.

1. What was that one financial problem you aspired to solve when you founded Bounce?

 

We were dabbling with a lot of ideas, like working with luxury motorcycles in USA and then we decided to start something with cycles in India and then we initially started a luxury bike rental service, called WickedRide, afterwhich, Bounce took shape.

 

2. When Indians think of debt, it’s usually just FDs and RDs, or they take a complete detour and invest in equities. However, there are debt avenues which gives decent returns. Why is there such a big gap?

 

I think the main problem is that nobody speaks about where to invest.

 

The saving culture is different in India. When we think of putting money aside, it’s more towards putting money in a jar at home! I think that mindset has to change.

 

Equity is spoken about a lot. Everyone knows that equity is high risk – high reward and people either want to put their money in equity or they don’t want to at all.

 

Alternate assets are not given as much coverage. Even news reports spend so much time talking about equity. I think investors should look at proper allocation of assets.

 

Another thing I would like to highlight here is that there is always a bit of mistrust when it comes to financial advisors, because they somehow feel that advisors have vested interest, however, people should understand that there are advisors who will manage your portfolio in the right way for a certain sum.

 

But I think now, with the advent of technology, things are better.

 

3. Since we are talking about financial freedom, what do you think has been your smartest investment? And you can include your own start-up!

 

hahaha, I have actually never thought about it that way!

 

Investment includes two things, time and money. And your time matters. You have to invest your time in the right things. And again, returns is of two types, one is the joy you get from it and the other is for materialistic gains.

 

Looking back I feel like quitting my job and growing my own start-up has been the best decision of my life and it has been a nice journey so far!

 

4. When we talk about debt instruments, how important do you think it is for an investor’s portfolio, keeping in mind market fluctuations

 

While I answer this, I don’t know how much exposure I have to debt. But I do put my money in liquid funds.

 

It’s all about time and understanding. We need someone to guide us to allocate our savings. I don’t think I have done a great job at this (chuckles).

 

And I also have fixed deposits and the reason why I started these fixed deposits was because I didn’t want to touch that money. It probably doesn’t even beat inflation, but I do have a couple of FDs!

 

I also invest in start-ups. I have invested in extremes, but maybe not in the best way!

 

And the reason is lack of education. As an individual I don’t know what kind of bonds I should be investing in, right? And I’m well connected. And if I’m not doing it right, I’m pretty sure a lot of others aren’t doing it right either.

 

5. What is that one financial concept that you think Indians need to be free from to make more wealth?

 

I don’t know if it is right or wrong, but because of credit cards, you tend to overspend. It keeps you in a loop. Being stuck because of overspending, impacts a person’s life overall.

 

Also, Indians don’t understand IRR assets. they don’t look at IRRs when they look at easy EMI plans. I think this affects their overall wealth creation.

 

Also, savings is underrated today. I think savings is not spoken about much and also, an investment can only happen if you save.

 

6. What is financial freedom to you?

 

Financial freedom is an extremely easy thing to talk about, right?

 

If you can do whatever you want, it is financial freedom. If you can follow your passion or desires without having to worry about doing something you don’t like, then you have financial freedom, but let me remind you, this is a subjective concept.

 

Thank you!

 

P.S: Follow this space for more such interesting interviews from our ‘Celebrating Financial Independence Series’!

 

 

 

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