How can you make your 1st 1Cr?
I’m looking to achieve FIRE, my figure is 8CR. Planning to accomplish it by 2030, I’m 27Yrs old today.
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Don't eat out, wake up at a 5am everyday, listen to finance bros 3h/day, take a small loan of 2cr from your rich parents, yolo in market/crypto, congratulations, you've "made" your first cr.
Source — generic financial publications' "success" story
How much is your networth currently, just asking for fun? Don't count your parental home btw.
Currently have ~56L in Zerodha Equity Portfolio
I have 62L in ESOPs. Do not count ESOPs in your net worth and feel happy. Such expectations will bring sadness when the real valuation kicks in. PS- if you think of taking a bank loan against even vested ESOPs as collateral, they are valued at 50% of their worth by them.
Imagine you're playing SimCity or Business Tycoon. Do you keep looking at the amount always and would you stop playing if you reach a certain target amount? If so, it's not a fun way to play the game, right? It's all fun till you make the first 1cr, then money doesn't make a big difference. Super rich Ambani also has to watch the same IPL final, same Netflix shows, almost the same iPhone. Not much difference. Don't waste time setting a monetary target. Instead imagine you have already attained FIRE and try to do stuff you would do then. Take sabbaticals, long vacations, start that business, etc.