Am i okay financially - 31 M
Hi , This is 31 M. Working from last 9 years. Educated from tier 3 college on loan and from very very humble background. Sole earner of the family from age of 22.
Currently working in MSFT from 2 years ( Around 65-70 LPA) Before this i was at around 40-45 LPA for around 3 years Before that i was at around 16-18 LPA for 2 years Before that it was very negligible salary for 2 years
Current Assets - 1.5 cr ( Mutual funds + PF + RSU’s) Own home - Bought by me 1.5 years back ( Bought in around 1.1 cr - Current value around 1.5 cr , Home loan around 50 LPA)
I have my wedding in july so i will take out money around 30-35 lakhs from my savings , so total i will have after that will be 1.1-1.15 cr and at the age of 32 i will have 1.5 cr again( After adding this years savings)
My partner also work and have 30 LPA package Am i on the road to become financially free/secure at the age of 40. I am targetting around 35-40 LPA collective annual saving after marriage
I think that i have saved less as i should have at this age despite working very very hard. As i told i have grown up very poor so the fear of going back to those times haunt me and i am very worried sometimes that what i have and i am not good enough
Help me out !!
You need at lest 80-90 CR in savings. By this time you must have travelled 40+ countries. Atlist 50+ CR house. And many more. You’re not even at the average my friend. Work hard.
At least a 100cr emergency fund you need now..
Show off post
This is too low... Wtf have u done... U r in 30s and saying 1cr is my savings... People at 25 get 1cr package...work hard... Don't stay in msft and binge ur time
Brother stop looking for validation on the internet and live your actual life.
If you're smart enough to earn 60Lpa you're smart enough to already know whether you're on track to retire at 40 or not.
Not looking for validation. But you are out there to diss people
I understand money is very important and it gives freedom. But, The moment you posted this it means you are still not happy with your life. It’s not too late to choose spirituality or enjoy very very tiny things in life.
Just remember one thing,
“No matter how much you earn or save, You will always want more.”
You are right about enjoying small moments in life . I am trying to do that. I dont believe in religion/ spirituality much
I wouldnt look at the house as a financial asset, while the rates for first hand sales continue to rise, unless you are in specific localities or have land to sell, apartments are not selling for much more than what they were bought for by buyers.
Its not an apartment. Its house built on own land in tier 2 ncr town
You'll prolly find a more constructive response from one of the FIRE subreddits.
Also the post reads like you are comparing yourself to others around your age. You should crunch the numbers (you'll find more info on the FIRE subreddits about this) about what you'll need the money for and whether you have enough. That should give you some peace of mind or something to work towards.
