[Milestone] Crossed 1 cr networth

[lovemygod]

@followgodnotman His goal is 4LPA, not LPM

 

[followgodnotman]

@lovemygod Got it..my goal is 4l pm

 

[brennenstuhl]

@revots Is that 5 cr in today’s base because it will be like 2 cr in today’s money.

 

[mrdean36]

@brennenstuhl Duh, his savings rate is 20L a year, he will save 4cr in 15years without inflation adjustment.

 

[theendwasin70ad]

@brennenstuhl Look at his savings rate. By 42 he would have more than double of that easily

 

[revots]

@brennenstuhl 5cr is based on future's base. I came up with this number when I started this journey around 2020. My pay is good at that time but not great as now and this seems to be the realistic target. Value is low as I assumed I will settle back in my native where monthly expenses are low.

 

[hoanphamkhong1]

@revots After any cross there net worth 1cr, they can easily grow up faster.
And congratulations for this achievement.

 

[tiffy420]

@revots Congratulations OP

 

[abison]

@revots Which tool you are using for tracking these?

 

[revots]

@abison Excel. Calculating expenses using Closing and opening bank balance.

Another excel to track the investments.

I also use Indmoney to track all income and axio for expenses (auto tracking from sms)

 

[angelar]

@revots Congratulations OP!!

Are your company stocks public?

 

[revots]

@angelar Thanks, yes, it is public

 

[godismyprovider]

@revots First of all big congrats to OP.

I did some math for myself to compare your consumption to mine as I share same goal like you.I really wanted to ask you how you saved on rent, electricity and on major expenses header as in my case they alone crosses your TOTAL PER MONTH CONSUMPTION figure.

And are you not taking up any kind of Insurances - say health or something.

 

[revots]

@godismyprovider Thanks, till mid 2020, I stayed with my friends on sharing basis (bachelor home). Overall expenses on rent and all utilites were low due to it between 4k to 8k based on number of persons sharing. For next two years, I was in hometown due to covid. After post covid, I stayed in 1 BHK house for 8k rent. (rent was less due to post covid). Electricity bill were less as in my place, first 100 units had no fee. My personal electricity bill were around 100 for 2 months.

Recently, I moved to a bigger home (rent 19k). Electricity bill was still around 100 for 2 months. I have to see how it goes during summer months.

Electricity bill at my native is around 1000 rs for 2 months.

I started an insurance for 36k premium per year at 2016 based on mother's advice. At 2019, I surrendered this and started the term insurance. I am paying 2 insurances my family started for them long back. (10k premium pa). Health insurance I have only the office provided one for now. I have to look into it.

 

[jryoung74]

@revots Congratulations

And hence, bigger income doesn’t mean bigger savings

 

[veronm144]

@revots Why earn if you are being this frugal.

I have literally seen two generations of family members who saved saved and saved and then became too old and sick to enjoy anything and later regretted not spending on themselves and creature comforts.

 

[revots]

@veronm144 I like and enjoy the work I do. Good pay is an additional reward.
I get what you are saying . Actually I am doing things I enjoy, expenses were low as they are not materialistic in nature.

 

[abdulmasih]

@revots Congratulations

 

[willy_b]

@revots Congratulations OP!

 

[kaykennz]

@revots Congrats OP