The owner of Rs 9,000 crore lives in a rented house, considers buying a house as a wasteful expenditure, gave a mantra to save money

highlights

Zerodha founder Nikhil Kamat lives in a rented house.

Said- Investing money in an expensive house is a wasteful expenditure.

Money can be saved by living in a cheap rented house.

Zerodha's co-founder Nikhil Kamath is the owner of Rs 9000 crore but he does not have his own house. Nikhil Kamat is against investing in real estate property. He still lives in a rented house. Recently, while giving his views on money and property, he has said something for the people living in metro cities. He has said that there is no real wealth in Bengaluru. Here people have paper money. Here people have earned paper money by working in tech companies. Tech companies don't have cash, so you just think you're making money.

Talking about this in detail, Nikhil Kamat said that property rates are very high in cities like Bengaluru. The prices of houses and offices and interest rates are also beyond limits. There is no logic behind such high prices. For this reason he prefers to live in a rented house. He believes that it is better to live in a rented house than buying an expensive house in a big city.

Zerodha founder lives in cheap rented house
Zerodha Founder Nikhil Kamat says that he lives in a rented house whose rent is very low. He says that buying a house requires a lot of capital and the returns are also not good. Nikhil Kamat also said that his thinking about buying a house is not going to change at the moment.

Had left studies after 10th
While talking about his first job, Zerodha founder Nikhil Kamat said that he had left studies after 10th. After which he started working to earn money. His first job was for Rs 8,000 and he used to sell accidental health insurance. He told that at that time he was only 17 years old and felt very good with the money in his hand. However, seeing his friends becoming doctors and engineers after studying, he also felt regretful about leaving studies.

Parents' worries had increased
He told that his parents were very worried because of his decision to leave his studies and take up a job. He didn't expect much from me. I come from an educated South Indian family. There was pressure on us to be successful like the children of our relatives. Despite this, my parents had faith in me and handled the situation well.

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