Wednesday November 13, 2019
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Deepika’s Building, Mumbai Tower On Fire She’s Safe Though

After around five hours, the fire was brought under control

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fire prevention
In many cases, regular maintenance can also save you money on building insurance premiums. pixabay

Firemen succeeded in controlling a major blaze in the top floors of the 33-storey Beaumonde Towers after battling the leaping flames for nearly five hours and evacuating more than 90 residents here on Wednesday evening.

However, at least two firemen suffered from suffocation and were rushed to a hospital.

Bollywood actress Deepika Padukone, who lives in the same building on the 26th floor, tweeted that she was safe and expressed her prayers for the well-being of the firefighters.

“I am safe. Thank You everyone. Let us pray for our firefighters who are at site risking their lives,” she tweeted.

According to BMC Disaster Control, the fire erupted around 2.10 p.m. on the two uppermost penthouse floors 33 and 32, of the five-year-old building, sending thick black clouds of smoke billowing from the tallest residential tower in Prabhadevi area of Dadar west.

Later, after nearly three hours, the flames started spreading out on to the lower floors creating panic among the flat owners who include several celebrities, top share broker Anand Rathi and Amisha Vora, business and glamor world personalities besides Padukone.

Deepia Padukone
Deepika Padukone, flickr

More than two dozen fire-tenders, including sophisticated lifts and cranes, were deployed to fight the blaze and there no reports of any casualties so far.

After around five hours, the fire was brought under control and stopped from spreading to other lower or adjoining floors.

The fire emanated from the flat whose owners are currently abroad, but their residence has been reduced to ashes, according to some society members.

Padukone, who owns a four bedroom-hall-kitchen flat on the 26th floor was out for a shoot but her personal staff were among those who were evacuated this afternoon as a precaution.

There were conflicting reports whether the safety and fire-fighting equipment in the building were functional or not in the three-building complex constructed by Sheth Builders in 2012.

Local Shiv Sena legislator Sada Sarvankar also raised doubts over whether fire-safety norms had been complied or not for the building.

Also read: Deepika Padukone, Kangana Ranaut Turn up The Heat at Cannes 2018

Social media went viral with pictures and videos of the inferno shot from various close or distant locations, as the smoke clouds were visible at long distances downtown south and the suburbs, and the Bandra Worli Sea Link. (IANS)

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Millennials join FIRE Revolution to make more Savings but Retire Early

Realising that economic slowdown can hit them anytime, millennials in India have joined the global FIRE movement

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FIRE
FIRE (financial independence, retire early) believes in saving early, living in a financially-restricted regimen and keeping a substantial portion of its income aside in order to take control of things after retiring young. Pixabay

At 23, Bhopal-based Prateek Jain is the CEO of lifestyle startup Sttago and part of FIRE. By some smart saving and wise investment, he aims to retire by the age of 35.

His plan is simple: save early aggressively and invest wisely, cut down on expensive lifestyle and put a significant chunk of the income into instruments that will give timely returns towards his golden years.

He feels proud to be part of the global community of FIRE (financial independence, retire early) that believes in saving early, living in a financially-restricted regimen and keeping a substantial portion of its income aside in order to take control of things after retiring young.

“I want to experience life in its myriad forms rather than waiting for a seven-day family holiday in an entire year. I want to do things I am passionate about, and not be constrained by funds which most of us face in our golden years,” Jain told IANS.

The thumb rule is to spend only on bare, basic necessities and save the rest. “I spend on basics like fuel, food and simple living. One has to stop living a luxurious life in the initial years to enjoy later,” he said.

Gone are the days when young adults used to spend all their earnings in partying and shopping. Realising that economic slowdown can hit them anytime, millennials in India have joined the global FIRE movement.

It was popularised by husband-wife duo Kristy Shen and Bryce Leung, who decided to retire at 31 to traverse the world, and has now reached India.

FIRE
Realising that economic slowdown can hit them anytime, millennials in India have joined the global FIRE movement. Pixabay

FIRE is dedicated to a wishlist of extreme saving and investment that allows proponents to retire far earlier than traditional budgets and retirement plans would allow.

The idea of the movement was initiated by Vicki Robin and Joe Dominguez in their 1992 best-selling book “Your Money or Your Life”, and seconded by Jacob Lund Fisker in his 2010 book “Early Retirement Extreme”.

These works provide the basic template of combining simple living with income from investments to achieve financial independence.

FIRE is achieved through aggressive saving, far more than the standard 10-15 per cent typically recommended by financial planners.

Today, several young Indians are joining the movement, sharing their stories on various social media platforms and encouraging others to be part of the revolution.

Ashish Sawlani, 22, who is from Raebareli and working at a start-up in Gurugram, said the millennial revolution is a solid retirement strategy.

“It lays emphasis on the idea of ‘savings’, as our parents taught us. I am making use of this strategy and trying to cut down my daily expenses like travelling and ordering food online. I have shifted to public transport and I cook my own food. It is working for me,” Sawlani told IANS.

FIRE
FIRE is achieved through aggressive saving, far more than the standard 10-15 per cent typically recommended by financial planners. Pixabay

“I can’t see myself working at age 50 and still struggling for financial independence. I want a peaceful retirement as early as 40 so that I can enjoy the rest of my life,” he said.

Sarah (32), who owns a cafe in Old Manali, said, one cannot retire from what one loves to do.

But early investment planning for the long-term is the key, said Jain.

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“You need to invest in a business that earns money for you, even if you stop working after some years. Initially, you need to give everything you’ve got. Invest in mutual funds and assets which gives you passive income on a regular basis,” he suggested. (IANS)