Rate my portfolio and advise

[andrew767]

I'm 28M and married, started working from Jan-2020 (Approx. 4 years and 4 months). The savings i have done as of now

Mutual Funds - 17.8 L (93% Equity, 7% Debt)

Stocks - 4.5 L

EPF - 13.1 L

NPS - 6.7 L

PPF - 1 L

SGB - 1.2 L

I want to be financially free ASAP (not to wait for monthly paycheck). I feel little proud (inside) as i have saved close to 50 L, But at the same time i'm doubtful whether i'm going right track.

1. Am i on right track with my savings & asset allocation ?
2. How many years it might take for me to financially free at this pace continued ?

 

[lahyormie]

@andrew767 Nice savings. Good to Nice job right?

 

[lahyormie]

@andrew767 BTW, increase more in mutual funds

 

[andrew767]

@lahyormie Sure, will try do that

 

[sab]

@andrew767 You must have an excellent salary. For better advice on becoming financially free (and retiring early), head to one of the FIRE India subReddits for help.

 

[andrew767]

@sab I have a decent starting salary. But, growth is very minimal. Sure, will head to one of FIRE related sub. Thanks

 

[boopie]

@andrew767 You saved fairly well in EPF, how did you? Did you intentionally increased the PF amount?
Also, we both graduated and started job together so I can really feel you regarding this paycheck stuff. But i guess we still have next 7-10 years to really get independent.
I would recommend increasing Sip in MF more now. Stocks are good, but make timely exits if those are thematic stocks

NPS , i am bit concerned about keeping so much into it. As per my understanding that's not much beneficial as it restricts you to take out entire money etc , rather you can keep those money in equity too and get timely SWP later. Again, it's just my thought and you can disagree.

 

[andrew767]

@boopie My EPF deduction is naturally high as my basic + da component is more and it’s major part of my salary. VPF I might have hardly done some 30k each in starting 2 years (just to reach 1.5 L cap of IT saving)

Yeah, I’m also thinking to increase MF SIP.

NPS part is compulsory for me (it includes both mine and employer contributions). NPS part I feel okay, as anyhow I always select 75% equity (max. Possible) in it and it makes me confident even if I committed a blunder with MF/Stocks forceful selling