If base is 53, then you will get around 310000 per month take home. ±10k based on your declaration like hra, lta, etc. 
 No suggestions advice on your other questions

Interesting numbers. With new tax regime I am assuming it gets a bit lower

Staff Engineer

I have 60 base and get about 3,30,000 as take home after taxes ? 
 How did you arrive at 3,10,000 take home ?

Engineering manager

Software Engineer

It’s not too late to sort out your finances.  
 You need to however have a good clarity on your monthly expenses and future goals.

Hi, how much would the 53 lakhs CTC inhand income be? as well as your advice on establishing retirement finances and investing for children's(2 kids) schooling. Taking into account that at forty ye...

Welcome to Salary Discussion's Private Community

Hi, how much would the 53 lakhs CTC in-hand income be? as well as your advice on establishing retirement finances and investing for children's(2 kids) schooling. Taking into account that at forty years old, I am the sole breadwinner for my family and have never saved any money.

Post tax in-hand salary & FIRE

Solution architect

Post tax in-hand salary & FIRE- Grapevine

Welcome to Personal Finance's Private Community

Hi everyone,

The year end is here. It was a great year for my FIRE journey and I thought I'll share an update with you all.

With few days left in 2023, I've crossed 2.65 CR in net worth after touching 2 CR in May this year.

Here's the breakup:

Direct shares: 1.7 CR (this was the major driver of growth),
ELSS: 0.06 CR,
Company shares: 0.06 CR,
Real Estate: 0.4 CR (while it is between 42-45 now, keeping this unchanged from May),
EPF: 0.34 CR (interest for last year kicked in),
NPS: 0.06 CR (investing because I'm in 30% bracket, getting 14.8% xirr here),
SGB: 0.03 CR

The driver for growth has been a high saving rate.

In 2023, i've added 29.5 lakhs in equity, about 2.5 lakhs every month. 6 lakhs in company shares (US listed). The EPF and NPS savings are on top of this. My target was to save 36 lakhs in equity overall, and it's done! Targeting the same for next year. I'm aiming to cross 2 CR in equity before July 24.

Another change I did this year is that I've moved away from active advisory. I get the stock ideas from Twitter discussions, analyse them fundamentally and take bets based on the charts. I'm quite confident of my charting skills with max drawdown of 25-30% but upside of multiple x. I could capture 2-3 2x this year with sizable investment in them. I got this confidence after i could take my wife's account from 11 lakhs to 20 lakhs in about 2 years.

While the next year can be a huge bull run if BJP wins, I'm still trying to diversify. I'm planning to add a real estate of about 75 lakhs by paying 10%. This will help me leverage as well. The rental yield is the property is approx 5% and calculations show that I'll have to only pay 40-45% of the EMI and rest will be covered through rent. This should bring my equity exposure down from the current 65% to less than 50%. In this I'm trying to diversify and leverage while not denting my current equity corpus.

Suggestions welcome to make this FIRE journey better!

Thanks!

Crossed 2 CR and 2.5 CR in the same year

Project manager

For those who are planning for FIRE. Share your-

1) FIRE net worth
2) Target age to achieve FIRE
3) Current age and YOE
4) Current network

FIRE

Product Manager

Welcome to IT Company Discussion's Private Community

Is 1 crore enough to retire ? What’s your view ?

The FAANG and unicorn employee salaries for even 2-7 YOE engineers is quite insane compared to the average Indian employee pay in other sectors of the economy.

The average SDE2 at these companies makes 50+ lakhs per year in compensation (not “CTC” but real money) The average SDE3 makes 80+ lakhs which is frankly insane.

What are you guys doing with all that money?

FAANG & unicorn folks, what do you do with all that money?

Analyst

What should be the savings number for FIRE?

Just want to know what your current net worth is (including house, -debt) and what is your target saving for you to not earn anymore?

e.g. 2.25 lacs in hand means 3.3 lacs per month/40lacs per annum before tax, implying at a 4% withdrawal rate, you need 10 crores of savings.

What is your target saving number for you to be Financially Independent and freely pursue your hobbies.

Product Marketing Manager

How much do you plan to accumulate to retire and at what age? What kind of monthly income will let you retire peacefully?

What is your retirement golden number

Product Owner

So, Ive spent over 13 years in IT. Saved 1.2 cr in FDs, NPS,PPF,PF and mutual funds. Around 15 tola gold il that Inbougt. I am tired and I want to quit and be a full time mother. But my husband is unwilling to support me financially and I carry my own expenses till date. Is the corpus enough to support my 6 year childs education? I am considering separating from my husband because of toxic abuse. Just want to make sure that my childs future is secure if I quit now.I just need a break to enjoy motherhood, managing work and child both together has effected my mental and physical health. I am willing to work 1 more year if required, post which I want a slow peaceful life. Please advice. No real estate till now, its difficult to for me to do all the paper work and house hunting alone.

Can I quit with 1.2 cr savings at 35?

By plan, I mean 
- After what networth you want to FIRE?
- By what age you think you’ll achieve that Networth?
- How are you going to build that networth?
- What are you going to do after you FIRE?

Those who want to FIRE, what’s your plan?

Founder

1. Real estate (invested value)
2. Liquid cash
3. Other Investments (invested value)

The wealth should not be inherited.

I'm 30. No house, 10L in cash and 5L in mutual funds. No inherited weath.

How much wealth have you created yourself?

I’m starting my first job this month, CTC-14L
I’m not sure but assuming I’ll get 80-90K in hand
Considering the job is in mumbai, the rent and other expenses would be high considering it to be 40-50K (pls tell how much it should be at max) 
Also how much taxes will I be paying and how to save it max
I really need your help, how do I start investing? Can I put all in Small cap MF, what would you advice? What should be the split between Stocks and MF, and in MF how much in which categories? 
Also it would be great if you can recommend the best 2-3 MF in your portfolio in each categories, and 5-10 stocks for Stock SIP for long term
Thank you so much 😭

First Salary Investing and Tax Saving| Really need your help

Welcome to Software Engineers's Private Community

Coming from Middle class family, I have hardly seen any investment strategy or advice from my parents. But to all youngsters, please start investing early in your career, rather than pushing for new home & expensive cars, iPhones. Don’t need to invest in stocks & trading but start a step-up SIP with 500₹ Small Cap MF, that will support you in long term.

Post tax in-hand salary & FIRE

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