How am I doing financially?
IT professional, 35M. 240K take home per month.
20K rent. 50K monthly household expenses 65K EMI towards plot. 5 more years of EMI pending 20K SIP across 4 different MFs. Invested 2 lacs only till now as I started SIP from Jan 2024 only. 10K Chit fund 12K RD for next year's school fees
No FDs. No emergency funds.
Bro where do you live at 20K ? And this amount doesn't add upto 240K. And we don't use K in India. Also depends on your net worth. Equity contribution is too low. Hope plot pays for that
If the sip is 20k*4 then it adds up
That's prolly what he meant anyways
Must be hebbala af
@BraveSimba honestly if you ask me it's not good you are doing terrible at 35 my friends have atleast 1-2 cr networth even who who could not get 60% in college semesters.
Even am not doing well but shared you what I feel bro just don't take it by heart
You are doing good. But have emergency funds. It's very important
I think you can reduce some expenses here.
Here is my calculation.
My salary 55k married
8000 Rent,
4000 Household Items
12500 investment in gold.
10000 Emergency fund saving.
8000 Sending to family.
And still I save some 5000 every month. Which I purchase some Jewellery items.
Approx 3L in hand 1.5L loan emi 50k mf sip 30k emergency fund 70k - rent, food etc