@jtmsavestheday Well done, that's perseverance right here. Did you work abroad or just in India?
My advice: nothing new
- Thread starter jtmsavestheday
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jtmsavestheday
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@jtmsavestheday thank you
jtmsavestheday
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highlyfavored85
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jtmsavestheday
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@highlyfavored85 Frankly I got my shit together in 2016. Until then apart from my primary home on loan, some RSU and a plot I didn’t have much. It takes 8 to 10 years of discipline with some luck to get here
highlyfavored85
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@jtmsavestheday apparently, being a techie helps
highlyfavored85
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@jtmsavestheday although I guess there's less hope for those who can't learn to code or get good at coding then, unfortunately. wouldn't you agree?
jtmsavestheday
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@highlyfavored85 I don’t know but being in a tech company helps. My boss for instance is a bcom + MBA. Great boss but not a pure techie
Also a friend runs hotel business and he is probably the richest of our group.
But I agree tech, there is lot of room
Also a friend runs hotel business and he is probably the richest of our group.
But I agree tech, there is lot of room
@jtmsavestheday What kind of hotel business?
jtmsavestheday
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@jtmsavestheday If you don't mind me asking, what is the designation of your boss?
medieval_lady83
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@jtmsavestheday How do u enjoy ur 20's when you are burdened to pay for the household ,barely surviving financially and zero money to spare on yourself ( gym, fun, games and trips)
I have wanted a pc for gaming since 8th standard...i really love video games....i am 25 now...Parents could not afford one so i never pushed for it... I am from assam so i got a intel Pentium laptop in 2014 from the government because i got 1st division... I am still using that... It's so old and laggy It can't handle gaming so i just do basic stuff.... Life sucks be it 20s or 40s
I have wanted a pc for gaming since 8th standard...i really love video games....i am 25 now...Parents could not afford one so i never pushed for it... I am from assam so i got a intel Pentium laptop in 2014 from the government because i got 1st division... I am still using that... It's so old and laggy It can't handle gaming so i just do basic stuff.... Life sucks be it 20s or 40s
jtmsavestheday
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@medieval_lady83 I am sorry to hear that. My version of fun was mainly to spend time with friends. It’s easy especially when your social circle is similar to yours. Some things of my 20s I relish:
1. Going on a jog with friends and registering and finishing 5k, 10k and half marathon
2. Eating chats, coconut water etc., with friends after long discussions
3. Playing online games, that is age of empires with friends. It used to be in one of our houses. Small house but we were alll generally ok with that
4. I invested in a bicycle paying 10k and I rode around 14k kms on that before I sold it off. It saved some money off commute, helped me make newer friends, a hobby that wasn’t much expensive but tons of memories. I even made a little commission (bicycle accessories) through referring folks buying bicycles
5. I did two amazing trips. Were very expensive at that time but best memory to this date:
One trip in 2011: cost 29k
Another trip in 2012: cost 32k
Numerous small trips where I used to spend around 5 to 10k every year
The years where I didn’t run or cycle I joined gym and didn’t enjoy. I am not very fit and I regret that
1. Going on a jog with friends and registering and finishing 5k, 10k and half marathon
2. Eating chats, coconut water etc., with friends after long discussions
3. Playing online games, that is age of empires with friends. It used to be in one of our houses. Small house but we were alll generally ok with that
4. I invested in a bicycle paying 10k and I rode around 14k kms on that before I sold it off. It saved some money off commute, helped me make newer friends, a hobby that wasn’t much expensive but tons of memories. I even made a little commission (bicycle accessories) through referring folks buying bicycles
5. I did two amazing trips. Were very expensive at that time but best memory to this date:
One trip in 2011: cost 29k
Another trip in 2012: cost 32k
Numerous small trips where I used to spend around 5 to 10k every year
The years where I didn’t run or cycle I joined gym and didn’t enjoy. I am not very fit and I regret that
tigersstory
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@jtmsavestheday need an advice here
i earn around 2.77 L per month ,
30M single
what amount should i allocate into SIPs ?
I dont have any financial commitments
Already have good health insurance (company + self)
already generated enough emergency fund (my current sal x 20 months) for the entire family (me , brother, mom, dad)
Now the only larger expense i see is marriage apart from that i dont have much to spend on .
my monthly expense is around 47k (including 20k rent )
and i save around 2.20L - 2.30L per month
i earn around 2.77 L per month ,
30M single
what amount should i allocate into SIPs ?
I dont have any financial commitments
Already have good health insurance (company + self)
already generated enough emergency fund (my current sal x 20 months) for the entire family (me , brother, mom, dad)
Now the only larger expense i see is marriage apart from that i dont have much to spend on .
my monthly expense is around 47k (including 20k rent )
and i save around 2.20L - 2.30L per month
jtmsavestheday
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@tigersstory You are in a great position. Congratulations on reaching this stage.
I am not a CPA and my recommendation is to talk to a few based CPA. It’s important for you to be comfortable while knowing what you are getting into.
Meanwhile start SIP slowly with index funds. Learn about mutual funds, exit load, expense ratio atleast and pick some. Coin by zerodha is a platform I use.
I am not a CPA and my recommendation is to talk to a few based CPA. It’s important for you to be comfortable while knowing what you are getting into.
Meanwhile start SIP slowly with index funds. Learn about mutual funds, exit load, expense ratio atleast and pick some. Coin by zerodha is a platform I use.
zashmaster
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@jtmsavestheday Thanks for the post.
There have been many comments that have focused on the networth, and the last para. But not much on point 1. Due to my interests, I have had access to many personal finance situation and have this to say, quite loudly.
Your NETWORTH is not a SIMPLE function of your AGE and INCOME. Yes a good income helps, but what matters more is the discipline and the right attitude.
YOUR NETWORH
There have been many comments that have focused on the networth, and the last para. But not much on point 1. Due to my interests, I have had access to many personal finance situation and have this to say, quite loudly.
Your NETWORTH is not a SIMPLE function of your AGE and INCOME. Yes a good income helps, but what matters more is the discipline and the right attitude.
YOUR NETWORH
jtmsavestheday
New member
@zashmaster Thanks this is a great summary. I didn’t mean to say that everyone will reach my net worth but I mentioned this to say it’s possible with luck and most importantly like you have mentioned financial literacy+ discipline+ luck
@jtmsavestheday Kudos for getting there man. Can you share details of your equity investment strategy? Did you do an SIP? What was the initial amount? Did you step up the amount? Was all of it in India or some of it abroad? What's your investment style now?
TIA
TIA
@jtmsavestheday How did u vet the agricultural land. How did u decide to buy it? Also RSU what exactly does a company mean when it offer $10,000 stocks with vesting period of 4 yrs. Will I get 10,000 dollars stock annually able to.cash in after 4 yrs?