"My mantra is simple—keep working, keep moving forward, and embrace what comes your way." - Nishant Kumar
In the ever-evolving world of finance and education, Nishant Kumar has carved a unique path as a mentor, educator, and content creator. His journey—from being a studious child with a passion for music and theatre to becoming a full-time financial educator—reflects dedication, perseverance, and a keen understanding of the financial world. As the founder of Fintax by Nishant and an instructor at Adda247, he has been instrumental in guiding aspiring professionals toward financial literacy and success. In this engaging conversation with DevikaMajumder, co-founder of Global Influencers Hub, Nishant shares his story, insights, and philosophies that shape his work.
DevikaMajumder: Hi Nishant, welcome to Global Influencers Hub. Here, we explore the journeys of social media influencers, and we’re excited to delve into yours. Let’s start from the very beginning—your childhood. How were you as a child?
Nishant Kumar: Well, as a child, I was quite studious, but I also had a creative side. I was passionate about music and theatre—I played the synthesizer and flute, and I actively participated in plays. At the same time, I performed well academically, maintaining good grades until about eighth grade. However, from ninth grade onward, I got a bit distracted, and my grades started slipping. Thankfully, I managed to catch up by the time I reached twelfth grade. So, I’d say I was an average student with a mix of academic focus and artistic interests.
Devika: That’s an interesting balance! Were there any subjects you were particularly drawn to?
Nishant: Initially, I was deeply interested in science, which led me to choose a science stream in my eleventh grade, focusing on chemistry, mathematics, and computers. My goal was to become a software engineer, so I even prepared for JEE and other engineering entrance exams. However, when I didn’t secure admission into a top engineering college, I decided to switch to commerce. That’s when I pursued a Bachelor of Commerce (B.Com) and eventually went on to complete my Chartered Accountancy (CA).
Devika: That’s quite a transition! How was your journey through Chartered Accountancy?
Nishant: CA is quite different from traditional degree programs—it’s a self-paced, open learning course. My B.Com was also from a distance learning university, so I only had to attend college for my exams. The first two levels of CA went smoothly, and I cleared them in one or two attempts. I also thoroughly enjoyed my three-year practical training, known as articleship. However, the final level of CA was quite challenging for me, and it took longer than expected to clear. Looking back, though, that struggle helped me connect better with students when I started teaching. Since I faced difficulties myself, I can now relate to and guide aspiring CA professionals more effectively.
Devika: That’s a great perspective! What are you currently focused on?
Nishant: Right now, I’m a full-time educator. I teach CA students at Adda247, covering subjects like business mathematics, logical reasoning, statistics, and taxation. I also run my own company, Fintax by Nishant, where I create educational content on stock markets and personal taxation. My time is divided between writing books, teaching students, and producing finance-related content.
Devika: That’s fantastic! What does financial freedom mean to you?
Nishant: To me, financial freedom is about working not out of necessity but out of passion, knowing that even if you don’t earn anything from it, you’ll still be financially secure. It also means walking into a store, picking up anything you want, and buying it without worrying about the price tag. Ultimately, financial freedom is about having the ability to pursue your dreams and passions without financial constraints.
Devika: That’s an insightful definition. When did you realize you had the ability to guide others toward financial freedom?
Nishant: It all started when a childhood friend approached me for investment advice. He was skeptical about stock markets, thinking they were pure gambling. I guided him through a small investment of ₹10,000, and within a year, he saw a 50% return. That was a turning point for me—it made me realize that I had a knack for financial education. This led me to establish Fintax by Nishant, where I create content to educate people about stock markets and personal finance.
Devika: That’s an incredible story! Between taxation and investment, which excites you more?
Nishant: Both are fascinating in their own ways. Taxation is like solving a puzzle—it’s all about legally optimizing your tax planning. Investment, on the other hand, is about strategic growth. If I had to choose one, I’d go with investments because I love the thrill of wealth creation and strategic planning.
Devika: That makes perfect sense! Do you have a personal investment strategy or philosophy?
Nishant: Absolutely. I consider myself a risk-taker, but only when I fully understand the risks involved. I’m a conservative investor—I thoroughly research before making any investment decisions. For instance, I was recently considering investing in cryptocurrency. I had done nearly all my research and was just one click away from investing. But then, I stopped and asked myself—am I investing because I truly understand it, or just because everyone is talking about it? That moment of self-reflection made me step back. I firmly believe in sticking to an investment philosophy that aligns with my understanding and risk tolerance.
Devika: Now, what would you say to someone who’s fearful of investing in the stock market? What is your approach?
Nishant: If someone is fearful, it’s absolutely understandable. Even I was scared when I was opening my first DMAT account. I hesitated to share my PAN card and bank details online. So, I completely understand.
To someone who is hesitant, I’d say—start small. You can begin with just ₹100 or ₹500 a month, an amount that you won’t regret losing. Though, I can assure you, if you invest wisely, you won’t lose it. More importantly, invest in learning. That’s what I did—I spent a lot on authentic courses, webinars, and books on stock markets.
As you learn, you’ll develop your own investment strategy. Every book reflects the author’s mindset, and when you study multiple perspectives, you’ll find one that resonates with you. Start right away—maybe with an index fund like Nifty 50. The stock market is a whole new world, and once you step in, you’ll see how exciting it can be.
Devika: What are the top three mistakes you see beginners making?
Nishant: The first mistake is chasing stock tips. Many people message me asking if they should sell or hold a particular stock. I always tell them—don’t chase tips. The stock market isn’t a get-rich-quick scheme. It’s a long-term game. People lack patience; they want instant returns without putting in the effort to learn.
The second mistake is a lack of diversification. Some people put all their money into one stock, expecting it to make them rich overnight. That’s risky. Diversification is key to minimizing losses.
The third is unrealistic expectations. Many assume that investing will make them wealthy instantly. The market fluctuates, and patience is essential. If you’re not willing to wait, you’re setting yourself up for disappointment.
Devika: What are some tax-saving strategies that most people are unaware of?
Nishant: One overlooked strategy is Section 80GG. Salaried employees receive a House Rent Allowance (HRA), but self-employed individuals and freelancers can also claim rent deductions under this section.
Another is the National Pension Scheme (NPS). People can claim up to ₹1.5 lakh under Section 80C and an additional ₹50,000 under 80CCD(1B). This is a great investment for long-term financial security.
Another underrated strategy is forming a Hindu Undivided Family (HUF) for tax planning. This can help in income diversion and tax savings. Additionally, people should consider tax-efficient investments like Equity-Linked Savings Schemes (ELSS), which allow for tax exemptions up to ₹1.5 lakh while helping you build wealth.
Devika: Do you have a favourite underutilized tax deduction that people often overlook?
Nishant: Yes, one is Section 80CCD(2). If you talk to your employer, they can contribute a portion of your salary to the NPS, and you can claim deductions under this section. The best part? Even if you opt for the new tax regime, you can still claim this deduction, with a limit of 14% of your basic salary.
Devika: What are some common misconceptions about tax planning that hinder people from saving effectively?
Nishant: First, people think tax planning is a last-minute task. It’s not. It should be part of your financial strategy from the start of the financial year.
Second, many believe tax-saving instruments don’t offer good returns. That’s not true. ELSS funds, for example, offer tax benefits and good returns.
Third, people assume tax planning is only for the wealthy. In reality, even small tax-saving measures can help individuals across all income levels.
Devika: Suppose someone has ₹50,000 to start with. How should they allocate their funds?
Nishant: If I had ₹50,000, I’d allocate it as follows:
- ₹10,000 (20%): Emergency fund—this ensures financial security.
- ₹25,000 (50%): Equity mutual funds—I’m very bullish on these for long-term wealth creation.
- ₹10,000 (20%): Fundamentally strong growth stocks—blue-chip companies with high growth potential.
- ₹5,000 (10%): Self-improvement—investing in courses, books, and skill development.
Investing in yourself is crucial. The more you learn, the better your financial decisions will be.
Devika: What are your thoughts on alternative investments like real estate and cryptocurrencies?
Nishant: Real estate is a great investment, but it requires a large capital. Instead of directly purchasing property, one can invest in Real Estate Investment Trusts (REITs) to own fractional shares in real estate.
Cryptocurrencies, on the other hand, are highly volatile. Unlike stocks, they don’t have intrinsic value or underlying assets. I invest only what I’m willing to lose in crypto and recommend others do the same. Read, research, and don’t blindly follow the hype.
Devika: Can you share any success stories from people who have followed your guidance?
Nishant: I’ve had clients who initially hesitated to invest, but after two to three years of disciplined investing, they saw their wealth grow significantly. One client panicked when his stock dropped by 10%. I advised him to stay patient, and after two years, his portfolio saw remarkable growth. The key takeaway? Mindset matters more than market fluctuations.
Devika: What advice would you give to young people just starting their financial journey?
Nishant: Start small but start early. Learn continuously, have a long-term vision, and set clear financial goals. Your goal could be higher education, a Euro trip, or even early retirement—define it and work towards it. Investing in index funds is a great starting point.
Devika: What role do personal financial habits like saving, budgeting, and expense tracking play?
Nishant: Financial habits are crucial. I remember when I was younger, my father always made me set a budget before shopping, which irritated me then, but now I understand its importance.
A great rule to follow is the 50-30-20 rule:
- 50% for needs (rent, bills, groceries)
- 30%for wants (entertainment, shopping)
- 20% for savings and investments
Tracking expenses is also essential. There are great budgeting apps like YNAB (You Need A Budget) that can help monitor spending. Paying yourself first—saving before spending—is another habit that leads to financial discipline.
Devika: Wow! That’s a wealth of knowledge. I hope our readers truly absorb these insights.I’m just mesmerized, and trying to take it all in.So, you’ve worked with thousands of people. What do you think is the one habit that prevents people from succeeding?
Nishant: Impatience and lack of consistency. These two factors stop people from making it big. It’s natural to want quick results, but success in any field, especially investing, requires patience and a long-term mindset. People also hesitate to invest in themselves, which is a mistake.
Devika: If you had to invest in just one stock for the next ten years, which one would it be? No pressure, we won’t hold you to it!
Nishant: Without a doubt, ITC. Most people associate ITC with cigarettes, but it’s much more than that—FMCG, hotels, paper, and so much more. It has a solid track record, and its diversified business model makes it a strong choice for long-term investment.
Devika: That makes sense! Now, let’s say you win a massive lottery—millions at your disposal. What’s your investment strategy?
Nishant: Let’s say I win $23 million—around 24 crore rupees. I’d immediately invest 20 crore in the Nifty 50 index and start an SWP (Systematic Withdrawal Plan). With a 12% return assumption, I could withdraw 15 lakh rupees every month for the rest of my life without depleting my investment. That’s more than enough to live comfortably. The remaining 4 crore? I’d go on a world tour!
Devika: Smart and practical! If you could have dinner with any investor, past or present, who would it be?
Nishant: Without a doubt, Warren Buffett. He has an incredible way of simplifying complex financial concepts. I’d love to have a conversation with him.
Devika: Have you come across any quirky investments that caught your attention?
Nishant: Yes! Recently, I read about people investing in rare wines and whiskeys. There’s even a proper wine index that’s been delivering good returns. Since they’re rare, their value appreciates over time. That was an eye-opener for me!
Devika: Interesting! Now, let’s talk about your social media journey. How did it start?
Nishant: I was initially associated with Groww, conducting sessions for students. Eventually, I decided to start something of my own. I had an Instagram channel dedicated to CS students, but I wanted to focus on investing and taxation, so I launched my new Instagram channel on July 1, 2023.
At first, I wasn’t consistent, but in 2024, I became serious about content creation. The audience has been incredibly supportive, and I’ve launched several courses covering stock markets from the basics. It’s been an amazing journey!
Devika: That’s fantastic! Have you had any memorable fan moments or interesting DMs?
Nishant: Absolutely. The comments on social media are mostly negative, but the likes, shares, and saves show real appreciation. One moment that stood out was when someone from Canada messaged me, asking for financial advice on selling their property and investing in Indian stock markets. That level of trust was truly humbling.
Rapid Fire with Nishant
Devika: That’s incredible! Now, let’s do a quick rapid-fire round. Stocks or real estate?
Nishant: Stocks!
Devika: Your number one investment tip in one sentence?
Nishant: Look at the long-term horizon and be patient.
Devika: The best financial decision you’ve made?
Nishant: Investing in myself and learning about stock markets.
Devika: One financial myth you love debunking?
Nishant: That stock market investing is gambling. It’s a myth!
Devika: If you could have a superpower, what would it be?
Nishant: Predicting stock prices! It would make investing and content creation so much easier.
Devika: What’s the most random thing you’ve bought with your earnings?
Nishant: An Oculus Quest 2. I always wanted a high-end gaming device, so I just went for it.
Devika: Your dream dinner date—billionaire investor, world-class chef, or an actor?
Nishant: Definitely an actor—probably Vicky Kaushal. His versatility in movies like Sanju, Sam Bahadur, and Uri is amazing.
Devika: You can only invest in one thing for a year—pets or gadgets?
Nishant: Gadgets, for sure!
Devika: If you could swap places with any celebrity for a day, who would it be?
Nishant: Probably an actor.
Devika: Your favorite way to spoil yourself after a financial win?
Nishant: Pizza!
Devika: If you could take a break from finance for a month, what would you do?
Nishant: I’d dive into filmmaking. I love movies and would love to learn about the craft.
Devika: What’s one piece of financial advice you’d give your 18-year-old self?
Nishant: Start investing in stocks as early as possible.
Devika: Funniest financial mistake you’ve made?
Nishant: I once invested in a penny stock based on a tip at a New Year’s party. Initially, it gave 70-80% returns, but eventually, the company got delisted, and I lost everything. Lesson learned!
Devika: If you wrote a book on financial freedom, what would the title be?
Nishant:Broke to Boss.
Devika: And if you wrote one about your journey?
Nishant:Nine Attempts Strong. It took me nine attempts to clear my CA final exams, and I think that journey deserves to be shared.
Devika: That’s a strong title! We’ll refine it, but the foundation is solid.Now, what about your life philosophy? What’s your mantra?
Nishant: Never say no to any work that comes your way. You see, it’s hard to sum up in just one sentence. But if I had to explain—whatever I thought I’d become, I never actually did. I wanted to be an engineer, then a Bollywood actor. I ended up being neither. And yet, the things I used to be completely against, I now do and enjoy. I never thought I’d get into stock markets—I was actually against it, thanks to movies portraying it as gambling. Yet, here I am. I never imagined I’d take up full-time teaching. But I do. I never thought I’d have two Instagram channels and create content like I do today. But I do. So, my mantra is simple—keep working, keep moving forward, and embrace what comes your way.
Devika: Looking back on your journey, is there something you would do differently?
Nishant: I would definitely start investing earlier. Also, since it took me nine attempts to clear CA final, maybe I would study harder. I knew what I had to do, but I let laziness and frustration get the better of me. Maybe if I had cleared my CA earlier, I could have started earning, investing, and building wealth sooner. But at the same time, I don’t have regrets. Every mistake teaches you something valuable.
Devika: Absolutely! That’s why I don’t like calling setbacks ‘failures.’ As long as you learn from them, they’re part of your growth. So, what’s next for you?
Nishant: Quite a lot of things! I’m currently working on multiple courses that I plan to launch in 2025. One is a trading course for complete beginners, which is ironic because I never thought I’d get into trading, but now I’m learning and practicing it myself. I’m also developing courses on tax planning, mutual funds, and futures & options. Besides that, I’m writing a book on the basics of stock market investing because I feel that practical, actionable steps are missing in most beginner-level stock market guides.
Devika: You mean like a step-by-step guide for beginners?
Nishant: Exactly! A structured guide that walks beginners through everything they need to know about investing.
Devika: That sounds fantastic. Any other exciting projects we should know about?
Nishant: These courses and the book are my main focus right now. But who knows? If an exciting opportunity comes my way, I’ll definitely consider it!
Devika: Wonderful! It was fabulous talking to you, Nishant.
Nishant:Thank you.
Devika: Thank you for your time. I really hope this conversation makes a huge impact on people.
Nishant: Thank you, Devika. It was lovely talking to you!