Own a house worth 3.5 Cr which is on rent Have a home loan of 2 Cr outstanding balance Have cash of about 0.8 Cr, Shares and NF of about 0.5 Cr and PF of about 0.3 Cr.
Have also gifted my parents property worth 1 Cr
This is both a post of happiness and need guidance to grow this to 15 Cr in the next 6 yrs (so I can retire in peace)
considering you mentioned 15cr in 6 years.
Apart from heavily investing from your salary, I would suggest to reduce your cash component. 80L seems to much of cash, keep around 12 months of emergency fund (including EMIs) and rest you can invest.
Not sure if it’s for the security purposes, but to me cash seems too much.
Real estate is hit or miss for me, I would suggest you to take more risk on small cap stocks/mfs.
If I were in your place id have shares and mf worth 50% of net worth. That will take care of your growth rate at around 15% per annum. Break it up into 50% large cap and 50% small cap since you have a reasonably high risk taking ability. Taking 3 cr to 15 cr is 2.5 doubles. So that's atleast 10 years away at 15%. The good thing is that you're earning and adding to corpus. The bad thing is that your split of the corpus is skewed towards real estate which might only give you around 7% best case.
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FIRE kar lo aap
Preface: I'm single and not looking to get married. I work at Blr but plan to retire in Hyd. Only want to achieve FI not looking to RE.
I currently earn ~40 L (Non-engineering role). So, here is the breakdown of what I have accumulated ...
What are your net worth targets and goals by age? Here's mine:
25: 10L ✅ 30: 50L ✅ 35: 1.5 Cr 🟡 40: 3 Cr 🟡
I’m looking to achieve FIRE, my figure is 8CR. Planning to accomplish it by 2030, I’m 27Yrs old today.
