@tempfunny Alright. I'll look into it. I'm not looking for money to fund my entire study. I just want to have a cushion. I'll go for loan if I go at all. Thank you!
What am I doing wrong?
- Thread starter duffy44
- Start date
foreversteel
New member
@duffy44 So what amount would you quantify as substantive?and are you planning to FIRE in the US? Or coming back to India for retirement?
Based on the information you've given:
A. Your savings rate currently is roughly 25% of your salary, considering you don't pay for rent or food you can try improving.
B. If you want to have better returns on your portfolio you will have to expand more on Small or Midcap MFs which come with higher risks.
C. In my experience, if you're not in Tech or in business the RE part of your goal is difficult to achieve especially if you're going to immigrate to the US and start from zero at 32, it only gives you only 13 years of earnings. Not trying to deprecate your dream, just setting realistic expectations.
Based on the information you've given:
A. Your savings rate currently is roughly 25% of your salary, considering you don't pay for rent or food you can try improving.
B. If you want to have better returns on your portfolio you will have to expand more on Small or Midcap MFs which come with higher risks.
C. In my experience, if you're not in Tech or in business the RE part of your goal is difficult to achieve especially if you're going to immigrate to the US and start from zero at 32, it only gives you only 13 years of earnings. Not trying to deprecate your dream, just setting realistic expectations.
@foreversteel Yes. I came here for a reality check as well. Thanks for broadening my view.
@duffy44 The goals you have picked are wrong. You can't do study abroad and FI both with this salary. Prioritize one.
- If you want to study abroad, do it NOW. Keep in mind you have to take loan (assuming your parents can't sponsor you), and its not guaranteed you will get a job (especially in US). Though you will have 3 year visa to payback loan still if you are from STEM field. If you want to do it later, invest in funds like Liquid, Short term bonds i.e., stay away from any kind of equity. 3 years is too small a time frame for equity exposure.
- If you are dropping 1st one and focusing on goal 2, go aggressive (in fact all in) in equities and used EPF and PPF for your debt part of portfolio. Equity funds seems alright, just keep liquid fund as your emergency corpus (6-12 months of expenses). You will be better off focusing your time and effort in increasing your salary.
@duffy44 Tbh and with sufficient recent past information of US tax system, student debt is no. 1 trap .
Pls refer to Robert kiyosaki once you finalise with study visa.
Imo it's mindful decision to enter US through company exposure itself .
Hope you make a right decision. Considering your struggle so far.
Pls refer to Robert kiyosaki once you finalise with study visa.
Imo it's mindful decision to enter US through company exposure itself .
Hope you make a right decision. Considering your struggle so far.
@dibongsus Cool, will read up on it and take an informed decision
ladyeulaelie
New member
@ladyeulaelie If you're missing your mum, you should visit her 
@rtlxshare Financial Independence, Retire Early
@duffy44 Your investments are extremely diversified. I'd invest in an actively managed fund with good historic returns and low AUM, than so many investments.
Also, do you have insurance? It's quite important to have insurance in case life decides to fuck with you.
I understand that 3L is a savings account for your dad, but if your dad is not using it, have a realistic conversation with him about whether he really needs the money or not? 3L is enough to deal with most emergencies before deploying capital from other sources. You don't have to keep giving your dad 20k every month if he's not going to use it.
Also, 15k travel a month is extremely high for your salary, in my opinion. You might need to revaluate your spending habits.
The more you save now, the lesser debt you'll have to take, and the less pressure you'll be under for the repayment.
Also, do you have insurance? It's quite important to have insurance in case life decides to fuck with you.
I understand that 3L is a savings account for your dad, but if your dad is not using it, have a realistic conversation with him about whether he really needs the money or not? 3L is enough to deal with most emergencies before deploying capital from other sources. You don't have to keep giving your dad 20k every month if he's not going to use it.
Also, 15k travel a month is extremely high for your salary, in my opinion. You might need to revaluate your spending habits.
The more you save now, the lesser debt you'll have to take, and the less pressure you'll be under for the repayment.
@cuicui The more you save now, the lesser debt you'll have to take, and the less pressure you'll be under for the repayment.
Exactly what I am aiming for currently. I think the 20k per month to my dad is a mental thing for him. He feels safe and secured that his daughter is taking care of the family. But as he has his own pension, he doesn't touch that. I actually don't want to touch the 4L FD because that's my emergency fund kind of a thing for now. 3L I don't want touch it either. So, total 7L I want to keep with family, emergency or otherwise. Currently 50K in MF, I'll cut down on other expenses and try some side income and increase this part maybe.
Exactly what I am aiming for currently. I think the 20k per month to my dad is a mental thing for him. He feels safe and secured that his daughter is taking care of the family. But as he has his own pension, he doesn't touch that. I actually don't want to touch the 4L FD because that's my emergency fund kind of a thing for now. 3L I don't want touch it either. So, total 7L I want to keep with family, emergency or otherwise. Currently 50K in MF, I'll cut down on other expenses and try some side income and increase this part maybe.