Hello All,
I am 28 years old and I have been working as a software engineer since past 4 years. I have a very good salary and when I see online that people with similar income as mine have way more savings, it gives me financial anxiety.
I am sharing a rough look at my income progress, major expenses, and current net worth breakdown below.
I humbly request you to go through it and suggest what I am doing wrong.
I want to reach 1 crore in 2 or 3 years, is it possible? I will heavily invest in MFs, etc going forward.
CTC:
Jan 2020 to Oct 2020: 15K Per month
Nov 2020 to Sep 2021: 10 LPA ( ~ 65K inhand pm)
Sep 2021 to Dec 2021: 20 LPA (~ 1.4L pm inhand)
Jan 2022 to Dec 2022: 21.6 LPA ( ~ 1.4L pm inhand)
Jan 2023 to Dec 2023: 27 LPA (~ 1.7 L pm inhand)
Jan 2024 to Dec 2024: Yet to find out but probably +20%
Major Incurred expenses:
(WFH ended)
Currently portfolio:
(I also have a car, do I include it in net worth?)
I also have 16 lakhs in RSUs as well, 25% vesting each year. I would vest 4 lakhs of it end of this month (pre tax)
I am 28 years old and I have been working as a software engineer since past 4 years. I have a very good salary and when I see online that people with similar income as mine have way more savings, it gives me financial anxiety.
I am sharing a rough look at my income progress, major expenses, and current net worth breakdown below.
I humbly request you to go through it and suggest what I am doing wrong.
I want to reach 1 crore in 2 or 3 years, is it possible? I will heavily invest in MFs, etc going forward.
CTC:
Jan 2020 to Oct 2020: 15K Per month
Nov 2020 to Sep 2021: 10 LPA ( ~ 65K inhand pm)
Sep 2021 to Dec 2021: 20 LPA (~ 1.4L pm inhand)
Jan 2022 to Dec 2022: 21.6 LPA ( ~ 1.4L pm inhand)
Jan 2023 to Dec 2023: 27 LPA (~ 1.7 L pm inhand)
Jan 2024 to Dec 2024: Yet to find out but probably +20%
Major Incurred expenses:
- 17 Lakh car (4 lakh given by father) (Taken 10 lakh loan)
- TV and Entertainment unit: 2 Lakh
- Phone and watch: 1.7 Lakh
- Family expenses: 2.3 Lakh
(WFH ended)
- Rent 15500, now 17K since diwali
- Maid+cook 3000 per month
- Electricity: 1-1.5 K per month
- Car EMI: 20,638 PM since April 2023
- Car fuel: 15K PM since April 2023, before this I used uber which costed way less
Currently portfolio:
- Mutual Funds: 13,11,392
- Equity: 1,35,982
- Demat: 1,51,716
- Open future positions: 3,89,544
- Bank: 5,69,499
- PF: 6,12,891
(I also have a car, do I include it in net worth?)
I also have 16 lakhs in RSUs as well, 25% vesting each year. I would vest 4 lakhs of it end of this month (pre tax)