How do people at age 25 have 1 cr in mutual funds, I'm 27 M with no savings planning to do mba
Mostly the pay that they have joined at would be significantly higher than other people’s.
Also 1cr by 25 isn’t a normal thing. even staying home with 0 expenses doesn’t mean money starts compounding by 200%.
So, I wouldn’t advise you to compare yourself with a very small subset and then end up doing something irrational.
30M - total saving is 10 k Living in rented house
Ay man don't participate in the rat race you are where you're supposed to be , experience life and die that's all we're here for 🫡
Yeahh mann.. Everyone has different background different experience different priorities... At the end, only thing matter is doing justice with our Responsibilities and being happy with ourself. 😊
Getting lucky with crypto, getting high salaries straight out of IITs, just smart investing with discipline.
There are so many ways.
At 25 you will have been working for 4 years. Probably promoted after 2. Saving 25lpa is possible if you make a lot and live at home
Pls elaborate on the 'so many ways part'
Bro, live your life to fullest, I earn but also I love to do shopping, going out on trips, etc. Just keep some funds for emergency and then your are good. I bought car, bike everything which keeps me happy. I don't care about increasing my portfolio. Every month I just focus on keeping aside 30 percent of my salary for emergency and enjoy with rest salary.
One of my friend had alot of stocks, mutual fund or what not. 6 months back he died of heart attack. Still their family members are running after banks or what not to find his savings and trying to recover from banks. Don't know if they will be able to succeed or not. So don't worry bro just enjoy your life.
What about saving for Retirement ?
Most people do UG by 22, now if you have done from a good college, you get a good CTC from day-1, 30-40 LPA is not uncommon in Indian IT. Combined with frugal lifestyle and investment strategy.
Were you unemployed past 5-6 years ?
But which company pays ₹ 30 - 40 lpa to a fresher ?
I don't know in your field but in tech - plenty.
Almost 20 companies off the top of my head are paying this and more to freshers.
Microsoft
Apple
Attlassian
Google
Meta
Walmart
PayPal
Netflix
Uber
Intuit
Then there are some who pay around 25~
Dell
Oracle
Hp
NetApp
VMware
On and on
This is impossible without all the below.
- Born Rich with pocket money or Extremely high package for first Job.
- Fairly rich parents paying the education fees (no education loan)
- No Responsibilities (expect savings of course)
If you are not enjoying this privilege, work hard and try to provide your kids this privilege. That's it. No use of comparing age and net worth.
If you have no debts, and you don't have any financial burden it's possible. But say if you are the first one from your family, it's highly unlikely
Why is this something that bothers you? Most folks who reached that value in lower salaries, have reached by saving almost majority of their salary into these investments.
They could have multiple reasons in doing so, they arent wrong and neither are you if you didnt save much.
Stop worrying so much about what others are doing and see if what you want to do brings joy in your life.
