First Milestone Reached, 26M (1 crore Networth)

[dmscotland]

I've always had the stupid goal, non-specific goal of reaching a networth of 1cr before I turned 30.And finally, on this Saturday morning, it came sooner than I expected. I fully expect to lose this milestone after a couple days of market downturn, but nevertheless, still feels nice to see the numbers turn.

Just sharing because no one else cares about this except me. Call it a prideful vent.Also, if someone has any critical comments on the breakdown/asset allocation/monthly investment?

Breakdown (Assets):
Value

Mutual Funds
₹4,785,233.00

EPF
₹1,024,036.00

Savings Accounts
₹350,938.00

GOLDBEES
₹450,322.00

FD + RD
₹54,146.00

PPF + Post Office
₹462,320.00

Vested RSUs (Fortune 500 Company)
₹2,558,365.00

NPS
₹345,330.00

Credit Card Debt
-₹21,632.00

XIRR: 20.73%, All-Time Return: 15.46L

Breakdown (Mutual Funds):
Value

Navi US Total Stock Market FoF Growth Direct Plan
₹ 6,69,653

Parag Parikh Flexi Cap Growth Direct Plan
₹ 11,48,341

Parag Parikh Conservative Hybrid Growth Direct Plan
₹ 3,49,983

UTI Nifty Next 50 Index Growth Direct Plan
₹ 10,84,042

UTI Nifty 50 Index Growth Direct Plan
₹ 12,63,267

Motilal Oswal S&P 500 Index Growth Direct Plan
₹ 2,52,205

Motilal Oswal Nifty Midcap 150 Index Growth Direct Plan
₹ 9,893

Monthly Investment: 1.4L SIP in Mutual Funds, and ~23k in ESPP at 15% discount

Breakdown (Monthly SIP of 1.4L)
Value

UTI Nifty 50 Index Growth Direct Plan
60.0 K

UTI Nifty Next 50 Index Growth Direct Plan
30.0 K

Navi US Total Stock Market FoF Growth Direct Plan
40.0 K

Motilal Oswal Nifty Midcap 150 Index Growth Direct Plan
10.0 K

Edit: Adding Additional Information for common questions people seem to have.

Job Profile: Software Dev

Salary Progression: (Displayed stocks I'm listing are only for the amount vesting that year. Every pay cycle, we get a new stock grant, which gets divided into 4 years. So I’m adding up stocks vested in a particular year only, across multiple grants.)

Company
Year
Pay

Banking
1
15.5 LPA

Banking
2
17LPA

Technology
3
26LPA + 7500USD stocks

Technology
4
30LPA + 14500 USD stocks

Technology
5
34LPA + 23250 USD

Net Monthly Pay (after taxes, EPF & ESPP deduction(23k)): 1.55L - 1.6

Average Monthly Expenses: 20k - 40k (Savings are fed by intermitted performance cash grants/yearly bonuses, rather than only monthly salary)

Investment Timeline: I’d been reading and setting up my mutual fund and demat accounts in the final semester of college.

So, first month of my paycheck (at age 22), I’d hit the ground running with 70% going to index fund SIPs. Being invested and staying invested, was more important.

Expenses of setting up in a new city (rental deposit, travel, etc) were fed by scholarship money left over from college.

 

[highlyfavored85]

@dmscotland

I've always had the stupid goal, non-specific goal of reaching a networth of 1cr before I turned 30.

Us bro, us.

Although... you reached it sooner than me (I reached it when I was 27).

By 30, you will likely have 2x the amount... congratulations man, it takes a lot of discipline to get to that point.

 

[dmscotland]

@highlyfavored85 I’m barely a couple months away from 27, so not much sooner than you!

 

[highlyfavored85]

@dmscotland Regardless, it's a considerable achievement. I hope you give yourself a great treat for making it to the 8-figure mark in your 20s.

 

[devonmcknight]

@dmscotland Congrats and thanks for sharing!

I am at 7% of my 1 cr and I am 32! Haven’t been able to save that much.

I wonder what would be your salary that you could save that much!

 

[congthuc1203]

@devonmcknight I am at 2% of my 1 CR and i am 23

 

[jim333b]

@devonmcknight Not bad I am not alone

 

[matthewgrun]

@devonmcknight I'm 23 and at 15% of my crorepati dream.

 

[markum1972]

@devonmcknight I don’t have 2 pennies to rub together

 

[devonmcknight]

@markum1972 Try head and tails with one!

 

[markum1972]

@devonmcknight Can you demonstrate??

 

[beto2010]

@dmscotland Congo bro. 1st cr is the slowest, hope next will come sooner

 

[howru]

@dmscotland Ok fine

 

[geminikid]

@dmscotland Congrats man! What do you do for a living I am curious?

 

[dmscotland]

@geminikid First 2 were at a Bank, with no RSUs and mediocre pay and almost zero hikes.

Last ~3 years were at a Mid-sized Tech company, but a leader in their Industry niche. RSUs always did well, although never meteoric like a FAANG.

Most significant factor I'd say were the RSUs, and high savings rate right out of the gate from college. I was investing upto 70-75% into Index Fund SIPs the first month I'd a paycheck. And I never let it drop, all through the Covid Crashes, and Post Covid Rises and Crashes again.

 

[tours]

@dmscotland Omw to find a job that provides me RSUs fr

 

[dmscotland]

@tours Look for companies with small-medium headcounts. With moats that have lasted multiple economic cycles. Doesn’t matter if they don’t pay top of the line.

Much better to be above-average and steady than meteoric and trigger happy layoff machines like the FAANGs.

 

[tours]

@dmscotland Thank you!

 

[fodare]

@dmscotland Hi. I have been trying to get into such a company for a while. But how do you get into it? For such companies I never see any job postings, nothing in linkedin section of jobs or anything?

 

[dmscotland]

@fodare I got headhunted. I’d been upskilling myself for a while, so when the opportunity arose, I was able to crack it.