Reached 1M USD networth in India 🇮🇳
Milestone crossed 1M USD combined networth (~9.15Crore Household Net-Worth) 46 M (Software Engineer/Founder) + 37F Wife (Lawyer) + 1 Kid (3 Year Old) based out of Delhi.
So last week me and my wife finally reached this milestone, >1M USD networth. Here is our portfolio. I hope people here can recommend what I should do next.
This chart was made by our Wealth Manager.
Rough Net Worth Breakdown:
- Provident Fund and National Pension Scheme (EPF + NPS): 1.1 Cr
EPF: 75L NPS: 35L
- Savings Account and Fixed Deposits: 20 L
Savings Account: 12L Fixed Deposits: 8L
- Mutual Funds (MFs): 3.8 Cr (Breakup Below)
Index Funds: 25% Mid Cap: 15% Contra: 10% Small Cap: 20% Flexi Cap: 30%
- Fixed Income: 1.3Cr
FDs: 50L (Spread in segments of 5L across 10 banks) NCD/Bonds: 80L
-
SGB (Gold): 80L
-
Crypto: 46L
Bitcoin: 35L Solana: 6L XRP: 3L other cryptos: <1L
International Investments: 1.49Cr QQQ: 30L NVDA: 32L AAPL: 28L AMZN: 33L GOOGL: 26L
We may get a good inheritance in the future, ~8Cr from my parents + ~15Cr from my wife's parents, but we are not planning on that.
Our primary goals are education for our kid(+planning another 1), their marriage, 2x vacations a year(1 domestic+1 abroad), a decent lifestyle, and a good car(we have a SKODA Slavia right now, planning an SUV as we are extending our family).
Please share your financial journey and any advice, we look forward to reading your comments.
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Wow. Congratulations man. Tell us more about what seniority, what kind of company you're at.
Also, 23 Cr inheritance? You must already have been very well off.
Worked as a Software Engineer all my life. Then got laid off during early 2010s to start my own business. Then there was no looking back. My parents made their wealth quite late in life when the business started to take off. This was excellent as they made several sacrifices when I was a kid and they couldn't afford any toys for me and by sister. My wife's grand parents were industrialists and owned coal factories up north.
How did you meet your wife?
Dude, i am 33 M - i reached 1mn $ networth 2 years ago without counting my wife or parents wealth.
Congratulations on reaching the club, If you ask me, it is less about getting there sooner when reaching there at all is a big deal. Havent counted my parents wealth in this yet.
Also, me and my wife are a team. We have combined accounts and shared access to investments. That is a call we both took. She has been with me throughout my ups and downs and so have I. To me it will always be our money and we don't have a concept of personal accounts.
We take every month to account for last month expenses and how we budget for next month. This helps us invest a larger quantity for a shared future rather than the solo approach YOU have highlighted for yourself.
To each his own.
23 cr in inheritance, ypu were fucking reach earlier too . Thankfully you didn't write a sob story on how you are 'self made'
No one cares about that. Money is money and money is green. You wouldn’t care if it was generational or self made.
We made our own money. 23Cr is only what we expect as inheritance and haven’t received it yet.
This is really insane. Tells you a lot about getting rich is a slow game and it takes time to get there.
You are 42 and your wife is 37, do you find it difficult to plan another kid at this age?
It was made very slowly by a ton of financial discipline. Yes we do plan on having another kid. We had opted for cryogenic preservation in our early 30s, so it shouldn't be impossible but yes it is difficult.
Our first kid was due to assisted fertility and we did face some minor issues. We did end up opting for our cryo preserved samples.
Wow I can only dream of this without making any financial mistake. Did u ever do any mistake or got scammed? What’s the rationale behind spreading FDs in segments of 5L?
Congratulations dude! This is awesome - financial discipline at its best! Zero real estate? Any particular reason?
I came here to ask the same question, my guess most part of their generational wealth would be from Real Estate and hence no significant investment from OP maybe
We are firm believers in not owning a home until we are set on a location for the next 10-15 years. We have lived and worked from 5 major cities in India over the last 20 or so years.
Interestingly you didn’t mention anything about a house? Do you own one or you didn’t count it in NW?
Don't own one. We are firm believers in not owning a home until we are set on a location for the next 10-15 years. We have lived and worked from 5 major cities in India over the last 20 or so years.
And how about your stake in your startup? You said you are a founder?
Congratulations.
What is your field of work? How was you path like? As in your NW when you were 25, 30, 35 etc?
It would be hard to estimate N/W at specific ages but when me and my wife got married, we started tracking combined net worth.
SDE all my life and then founded a company: background
Nice. You did not count the company value in your networth? Did the company contribute a lot towards the growth of your wealth? Most of us struggle with accumulating money by salaries.
We just bought a MG Hector Plus, you can consider that or the top variant Safari.
Also congratulations, that is amazing ! Please share a post for young people to start their financial journey and what to do and what to avoid.
I could personally use some statements to live by, and you seem a perfect human for that.
Give me some gyaan please.