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.
SoulfulLunch
Student
4 months ago
How much is your networth currently, just asking for fun? Don't count your parental home btw.
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.
Though many details are missing here, but if you’re looking to make 8 cr from 56L in 6 years. You need to grow money by 56% CAGR, some big multi-baggers are needed.
Also earning around 46L Base with 72L Esops across 4 yrs. Which might also grow in 6yrs.
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
In seriousness, you cannot achieve this from "investments" alone. The best thing you can do at 27 is skilling up focusing on increasing your take home pay.
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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.
