How am I doing financially and what can I improve?
City - Bangalore, both Software Engineers My salary - 48LPA Wife’s salary - 30LPA In hand salary both - 4L per month Yearly bonus - 8L Monthly expense - 1L Rent - 35k Car EMI - 16k Other expense - 50k Investments - Monthly SIP - 1L Stocks - 50k Remaining 1.5L saved in account for big investments and emergency Current assets and portfolio - MF and stock - 20L PF - 15L Land value - 1.3Cr Flat - 1.6Cr Term insurance - 3 Cr Health insurance - 10L
This is utopia. You have achieved the peak mode. Enjoy life, go on international trips every quarter. Play a lot of sports. Take care of your health. Keep winning. You are the reason why the next gen will take up IT jobs. Kudos amigo 👏
Compared to how much you earn , amount invested in mf and stocks is too less I would say.
DigitalMajdoor69
Stealth
2 months ago
same this platform will go to shit in few years
I am not eligible to comment as I am not worth even 50% of you. (Currently)
Unknown_
Stealth
2 months ago
Me reading with 25k stipend 🥲🥲🙂
Not much I believe.. paying 7.5 interest on active loan and just 3L remaining, I can earn more interest by investing
If you wanna save up for a major investment, doing an RD might make sense instead of bloating up your savings account. Most major banks are offering 7.1% return for >12 month duration.
Also, some other info that impacts decision making here:
- do you get any rental yield from the flat
- do you have any EMIs to pay for the real estate you've bought
- do you plan to have kids in the near future
- any major upcoming expenses like international trips, vehicle purchase, further studies like MBA, MS etc
Akaza
Stealth
2 months ago
Which car do you own?
Jav_bud
Stealth
2 months ago
Do u regret not going to usa
Do u think u could have saved more/less there.
I'm 24 and am contemplating Ms on loan
Hey, I have stamped H1B with me still valid for 1 more year. I am not interested in going to US. To point saving in US is a myth you can earn less and have far better lifestyle and access in India than in US. If you both are earning in India it’s never a good option to travel at all
MS on loan is not a something I would prefer just to get into US. It will take few years to close all your loans and come back to positive side financially. US was craze 10 years back, I know many of my friends who are willing to come back to India because of the lifestyle
Are u in Bangalore? Where did u get a flat for 1.6 Cr? Also how many bhk is it
I invested in prestige city 3 years back on 3 bhk costed 1.15 which is now around 2cr but on lower note I am considering it 1.6cr
Everything is frigging great. Need to increase the health insurance cover
Rakz
Stealth
2 months ago
Did you get the flat and land for all cash or was it inherited?
Little confused as even 1lakh SIP for 10yrs won't get you 3 crores.
I took loans but closed it already .. and 3 cr is not the invested amount it’s current market value
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