Meet Rohit Arora, General Manager at Jagran Solutions and a proud 1% Club member since 2023.
Though he’s financially secure today, things weren’t always this smooth.
He shares, “My investment knowledge came from my family. Schools and colleges don’t really teach us about money, so I relied on FDs, LIC policies, and, of course, real estate.”
This limited understanding led to many financial ups and downs.
Read on to discover how a few bad decisions trapped him—and how he and his family worked their way out. Edited Excerpts
Please tell us about your career journey
I started my career in early 2010 after completing my education. I started with a very basic job. Later on, I worked with various brands.
Except for the television industry, I am aware of how the rest of the media industry works.
When did you start investing?
After I started earning. I was only investing in Recurring Deposits (RDs). My salary was maybe Rs 15,000 or Rs 18,000. So I did an RD of like Rs 2000 a month or sometimes, and I kept on breaking.
What was the mistake you made in investing?
I had no long-term investment. Whether I do any FD or RD, I used to keep it for one year or two years. And then break it and spend it.
After marriage, we started focusing on long-term investment. Again, FDs and RDs were the only things. That was the kind of investment I have done till like 2016 or 2015. Thinking this was a safe approach.
What were the major financial decisions you made after your marriage?
I think in 2016, we decided to buy a home. Whatever we had saved, we invested everything in our house.
Till that time, we were staying in a rented place in Delhi. And our lifestyle at that time was also very basic. Our rent was around Rs 15,000 a month.
The new property was worth Rs 52 lakh and the loan amount was somewhere around Rs 39 lakh. And the EMI came to somewhere around Rs 35,000.
What were the financial issues you faced after buying a house?
In 2016, our house income was around Rs 1 lakh. That was the point where we started feeling the pressure of paying EMI. Our savings were completely exhausted.
And since we moved to a new place, there was some social pressure. We started exhausting our credit cards, taking loans on credit cards, in order to match up that lifestyle. For a good one or two years, we were in this mode.
And in 2017, we planned for our family also. So our daughter came into our life on 1st October 2017. We were ready for her, but things started getting downward financially because our daughter was premature.
She was in the ICU for 15 to 20 days.
Did you not have medical insurance for your baby?
We had insurance but a lot of payments were going from our end because it was unexpected that she would be staying in a hospital. So whatever savings we kept were exhausted.
Then I decided I should start looking for an upgrade in terms of a job. I got a good job with a salary hike.
Since we were already loaded with our expenses, that hike was somehow not helping to cover the debt.
Was social pressure still affecting your financial decisions?
Yes, in early 2018, I bought a sedan. We were not thinking about how we’d repay it. Somehow, I had to look for another job to satisfy those EMIs.
I’m talking about 2018 and 2019. Things were out of control and I got stuck into this credit card thing again.
Did credit cards help you manage your loans?
In order to close one credit card, I was taking a loan from another credit card. Then to close that I was taking a third credit card and then paying it off. So, this endless cycle, I got stuck into it completely.
I was hardly saving any money for a good three or four years. Nobody was there to guide us to walk out of this trap.
Then this 2020, the most stressful time for everyone, COVID came. It was a disaster for us.
How did COVID-19 affect your finances?
That particular phase, 2020 and 2021. My wife lost her job. I was on almost a 60% salary reduction. We didn’t feel the EMI stress at that time because all the banks were offering that restructuring thing.
So by the time in 2021, this whole second wave came in. At that time things started being difficult.
Banks said this is your restructured amount. Then it got really, really bad.
What measures did banks take to collect the loans?
All the bankers came home, disturbed our colleagues and family members, and harassed us in front of neighbours. They didn’t give us any solution. All those incidents got stuck in my mind.
Many people have taken wrong steps like suicide. Trust me, they pushed me to that limit. This whole thing that banks did was so, so sad.
But I told myself, “I’m not going to give up. I have my wife and my daughter to feed. They are my responsibility. I cannot just simply go and die. I have to fight back.”
How did you start paying them back?
I asked my family for help but they offered me a job at their local shop. They offered me a labourer-like job that pays Rs 20,000 a month.
I did six hours of labour work and then came back to complete my office stuff. I did this for a good six months. Trying to pay off my debts very slowly.
During this whole time, the harassment from banks never stopped. I could save only Rs 5,000 for my house needs.
But then 2021 second wave, I got hit with COVID and it got really bad.
How did you manage to pay off loans after being hospitalized for COVID?
I was in a hospital. We didn’t have any money to get treated. My wife posted on my social media, asking for money. A lot of my friends, colleagues, and clients generously helped me. We managed to collect Rs 18 to 20 lakh.
I was in the hospital for a good 10 to 15 days. Later my wife got COVID. My wife was with my daughter at home, fighting for COVID and fighting for me also.
We had medical insurance but most of the bills got rejected. The medical bill came to around Rs 11 lakh. I believe only Rs 3 lakh was reimbursed from the medical insurance. And my medical insurance was of Rs 20 lakh.
Out of the total contribution, we gave Rs 8 lakh for the medical bills, and whatever Rs 12 lakh was left, we saved half of the money to survive for one year, and the rest half I used to pay off the immediate credit cards.
Even when I was in the hospital bed, I answered bank calls. This is the kind of torture I have been through.
How did you stand back up after recovering from COVID?
After two months of recovery, I got a job, which was paying me a full salary. Also, my wife and I started our business.
We used to pick tea and sell it by our brand name. We started with like Rs 50,000 in investment, and now we are making good money. Simultaneously, I also started doing freelance work at night.
I remember it was December 2021 and it was time for a New Year Resolution.
I made a resolution for my life, that I would clear off these debts and I would secure the future for 20 years.
Did you accomplish your New Year’s resolution?
From 2022 to 2024, I managed to close six of my credit card loans i.e. Rs 20 lakh, three of my personal loans i.e. Rs 7 lakh, one car loan, and, you know, it’s just my home loan, which is still running.
And apart from that, I have managed to secure at least my coming 10-15 years.
The most shocking thing that happened to me was that my credit score went from 750 to 350 after paying it off.
But I decided that whatever the credit score is I will not take a loan.
Where did you learn about investing properly?
I started my investment by watching reels of Sharan and other influencers.
When I had a good chunk of money coming in, I knew I needed guidelines. Then in 2023, I took Sharan Hegde’s masterclass.
I liked the concept of how Sharan explained the investing process, the diversification of funds and everything. And then I took the membership immediately.
Right now, my salary is a passive income while my business income runs my family.
Also Read: Here’s How a Sustainability Analyst in Delhi is Aiming to Achieve Financial Freedom
What did you learn after joining the 1% Club?
After getting those lessons, I diversified my portfolio. Today, my family’s future is secure. Now, thankfully everything is on track.
Please share your portfolio details.
After joining the club, I now have a diversified portfolio.
I invest almost 70% of my salary. And I feel that SIPs limit me so I mostly go for lump sum investments.
We both are working day and night to keep the pace up. We want to reach our FIRE number in our late 40s.
What value has 1% Club added to your life?
Educating anybody about finance is a serious subject and the 1% Club has helped me a lot. I wish I had this knowledge in my college time. Also, I am really thankful to the Club as it completely changed my opinion about finance. I have diversified and secured my future.
Disclaimer: The above content is based on the information provided by Rohit Arora. The 1% News doesn’t independently verify non-public data reported by interviewees.
