32 M - networth touched 8 figures in FY 2024

[mythofan13]

2012- Zero networth
2024- eight figures (1.2 cr to be exact)

Living in a tier three city. Low cost of living. Only major recurring expenses is online lectures and classes and purchasing books. Working in a psu bank currently. Before joining work was freelancing.
Saving rate after necessary expenses is 80%

Looking to reach 2 cr or even more by 2029.
Is it possible with investment of around 60k/ month.

 

[nicktxdad]

@mythofan13 Good for you. My networth is 80 lacs plus my house . But am 45

 

[daveinvain]

@nicktxdad Good for you as well. Well done!

 

[achonda2000]

@nicktxdad What's your job?

 

[highlyfavored85]

@mythofan13 An 8-figures net worth in a tier 3 city should get you the absolute best kind of life there is. Congratulations.

 

[demarcus507]

@highlyfavored85 Nah man - money (at least just 8 figures) can't do much for quality of life in tier 3 cities with the constant power cuts, lack of water supply for days on end, difficult to adopt the highest quality products due to lack of authorised servicing, constant struggle in finding high quality blue collar workers, and so on.

Probably with the fuck you kind of money in 9/10 figures, these problems also go away.

 

[highlyfavored85]

@demarcus507 Fuck you money is 9 figures now? Shit, gotta level up my game man.

 

[chrismarklee]

@mythofan13 Remind me again, is this sub only for boasting or is there an option to discuss about other aspects of 'personal finance' too?

 

[jossystephan]

@chrismarklee Mods should ban boasting posts.

 

[mythofan13]

@chrismarklee Please read last line of the post.

 

[warriorchild82]

@mythofan13 Maybe add /s

 

[benziebbj]

@mythofan13 Your last line doesn't really add value.
Some bg on how you reached the milestone and your responsibilities are necessary for people to respond.
What do you do for a living?

 

[shenanigansandtoast]

@mythofan13 Roj utho nahao Reddit open karo apna dil jalao
Apne aap ko koso fir so jao
Btw M 36

 

[mythofan13]

@shenanigansandtoast If I can then you definitely can. If the only thing I learnt in all this is to be consistent with investments

 

[christiancosmos]

@mythofan13 tell your investment strategy??

 

[mythofan13]

@shenanigansandtoast If I can then you definitely can. If the only thing I learnt in all this is to be consistent with investments

 

[hong9335]

@mythofan13 Bot reply

 

[joe2]

@mythofan13 Congrats man.
That is a great achievement. You plan to invest around 35L by 2029. So that would bring the sum to 1.55L

Normally it is said that it takes around 15 years to double your money in ultra low risk investments. Going by that, you can easily expect 30% gain in your current portfolio i.e. 36L

So that should bring the total sum to 1.86. Not to mention the growth that will happen for 35L which you will invest.

So imo, around 1.9-1.95 Cr is easily achievable and 2cr is realistic as well.

 

[drobertj31]

@joe2 Doubling in 15 years implies 4.8% rate of return, rich is lower than inflation... I know you said "ultra safe" but still it's very low

 

[nicktxdad]

@mythofan13 Networth includes real estate also usually?