@servant7ofthelord Will be bringing it down to 1000 now
Is it possible to reach 1 cr by 30 ? I have financial anxiety
- Thread starter khristine
- Start date
rosebraclet
New member
@khristine How is your growth so drastic? Whats your tech stack
@khristine A fellow software engineer this side.. just curious that how is your salary increasing so much every year. Are you switching after every 6 months or so?
@aimeejmpr My last switch was win sep 2021, after that it has been appraisals
@aimeejmpr Maybe he listed the appraisals in the same companies
@aimeejmpr What is your ctc?
@aimeejmpr I’m also the same experience as you
@aimeejmpr Yeah bro
hetherington
New member
@khristine 1 Cr by 30 is mostly unlikely at this point, but it doesn't matter. What matters the most is your discipline in investments. It may not seem sexy and give the instant gratification, but it does generate wealth over the long term.
The question you need to ask yourself is, do you really want/need to have such financial targets, like 1 Cr by 30, 2 Cr by 33 etc, Are you ok with cutting down on your expenses for that(looking at some of the expenses mentioned, spending is not wrong as long as it's within one's limits and it gives the satisfaction and happiness or if it's a necessity). Need to maintain the right balance. Other option is working towards earning more salary, but it comes at its own cost.
I have similar goals, and to a good extent I have been able to balance between my wants and savings and cutting down/avoiding expenses wherever possible, and I have reached one of my targets and planning towards meeting the remaining. That is the case with many others too. So it is definitely possible.
And also adding your current monthly investing strategy will help people to guide you.
The question you need to ask yourself is, do you really want/need to have such financial targets, like 1 Cr by 30, 2 Cr by 33 etc, Are you ok with cutting down on your expenses for that(looking at some of the expenses mentioned, spending is not wrong as long as it's within one's limits and it gives the satisfaction and happiness or if it's a necessity). Need to maintain the right balance. Other option is working towards earning more salary, but it comes at its own cost.
I have similar goals, and to a good extent I have been able to balance between my wants and savings and cutting down/avoiding expenses wherever possible, and I have reached one of my targets and planning towards meeting the remaining. That is the case with many others too. So it is definitely possible.
And also adding your current monthly investing strategy will help people to guide you.
digitalgoth
New member
@khristine Are you married? If not the expense will go up, unless your wife is working. Only suggestion is to save as much as possible with discipline and not fret over numbers. Live your life and enjoy the little things, go travel the world when you are young.
@khristine In one line, in the next 5 years if you cross 50 L in CTC and save at least 30 L per year, it is highly doable, else not.
@khristine Then you are at the else branch.