MagicalHamster

Reached about 2CR! Still Feel Poor! WTH is Wrong!

Here is the break-up - Residential Plot we Just bought from our Indian Stock Selling - 90L Equity - 40L Crypto - 6L US Stocks - 26L Mutual Funds - 10L NPS and EPF - 22L Cash - 6L

I have not factored in inheritance of about 1CR which will be passed on to us in a long time but I don't want to count that as mine I want to pass that to my son... As that will be his not mine!

3.5 year back I had a educational loan of 17L and my Wife had Equity of 17L so basically we were at 0 at that time...

Nothing has changed at all for me... And I do not think even 10-20CR would change me too 😉 I am still a confused stupid... And will be forever ♾️

I have resigned from my current job as I was not satisfied.. I am looking out for more opportunities outside so that I can build the house with that money!

Even with 2 CR I don't think I have achieved anything ... I have a long way to go from here ☺️

13mo ago

Talking product sense with Ridhi

9 min AI interview5 questions

SqueakyWalrus

Student13mo

Not 2Cr even 20Cr you won't be satisfied.

First, think about what you want out of life, money is not (the only) goal.

SillyDonut

TCS13mo

💯

FluffyCupcake

Amazon13mo

Keeping the fire burning is good, but burning yourself in that fire can become madness. Kudos for hitting milestone.

SqueakyQuokka

Globallogic13mo

I like that line

BubblyBoba

Samsung13mo

Well said

SparklyKoala

Oracle13mo

Bhai kya clickbait title hai.

Happy that you've accomplished so much, congratulations for the goals, but seriously a lot of people may not even make that in their lifetime. And I am not even counting the downtrodden but like legit well earning but unable to save people (due to medical expenses let's say). Your post here has a clickbait title followed by a full flaunt without any usefulness into how you did it, what difficulties you faced or any advice you want to give. I don't want to ruin the joy of your milestone but please go to Instagram if you really want to flaunt.

Let's have better discussions...

MagicalHamster

Stealth13mo

Ok ... Will post soon on my strategy

SqueakyNugget

Flipkart13mo

I was happy with my first 20k. Was Same level of happy at 2L, 20L, 2cr and so on. I get my happiness from family and friends, good movies, music, books and learning. Most of it free only

Treat money like a video game. I’m a Mario. Collecting them coins.

SparklyJellybean

Axis Bank13mo

How old are you respected sir?

MagicalHamster

Stealth13mo

No sir bro 🤣 I am 33

SparklyJellybean

Axis Bank13mo

You are worth Rs 2 cr. You deserve a Sir prefixed to your name. 😅

WobblyBurrito

Unacademy13mo

No finance pro here, but Selling equity to buy plot is probably a very wrong decision. Always take loans, usually loan interest is lesser than what you make in equity. Never exchange lumpsum well invested money for fixed asset. Real estate yield is poor in India. If it's giving you more than the equity then it's good.

MagicalHamster

Stealth13mo

I used to think like that but when I went outside for window shopping for the plots in Delhi... I found out below things are happening -

There are underdeveloped spaces in Delhi which will appreciate more and in time it will be difficult to buy the plot to one's preference
Bank won't finance the loan until the Registry is done and paid for the property .. basically they won't approve loan on GPAs i.e General Power of Attorney and Delhi is full of GPAs only
The Real Estate will start to take off now for some time as power of consumption is going up in India and real estate is becoming scarce in Tier 1 cities ..
Gold, Real Estate will take off now as people have got more buying power.. Stock market will perform good but real estate and Gold will too...
Me and My Wife are planning to stay in this city for a longer term now.. may 5-10 years..
I hate Loan overall even if I would have had an option.. it just makes you wonder why the bank always get a cut of my salary..

Not a real estate Pro here ... But I want to have one house at least which will ours .. won't buy any other real estate after that ..

WobblyBurrito

Unacademy13mo

You said it yourself. Earning more than equity, that's good!

Of course, nothing can compensate for having your own house. Kudos on that! 🙂

But do evaluate your perception of loans, you just might be able to play it to your advantage in a lot of situations. 🙌

MagicalNugget

Linkedin13mo

You are doing fine OP.
I see the liquid part is pretty less % of NW.
This can only work if 1) you don’t foresee any big expenses in the near term 2) you consider the inheritance fund as an emergency fund.

No loan liabilities? Whats the plan to construct on that plot? That’ll be a big ticket item.

I am at (2x + then some) NW btw.

MagicalHamster

Stealth13mo

I have no Loan or Liability at the moment... Bought the plot from our Money alone... Planning to construction by the start of next year.. my estimate the construction cost should be from 50-60L..

Our Expenses our Less and can be managed without you touching our Investments..

The only big expense is the construction cost.. That is something which keeps me awake sometimes to be honest 🙈

MagicalHamster

Stealth13mo

Congratulations dude... On your NW .. Hoping you get to 10 CR soon... As I want to get there too... But hoping that won't change you or me once we get there 🙌

ZestyBagel

Swiggy13mo

2cr is nothing neither 20cr would be it is a non stop rat race that will eat your fucking life and at the rnd even 1000cr would not be worth it

GroovyBanana

Goldman Sachs13mo

What is stock selling?

MagicalHamster

Stealth13mo

I meant I had 90L in equity too which I sold to buy the plot

GroovyBanana

Goldman Sachs13mo

Yeah that's nice. Buying plot in tier 1 city or in tier 2 or 3 cities. Asking this because getting land in tier 1 is not that easy.

BouncyJellybean

Thoughtworks13mo

Congrats & f—k you(In Reddit terms).

In schooldays I wanted to make at least ₹40k/month and chill, now I’ve grown up to realise that it might not cover my 2BHK rent in a metro city going forward. 😢

I’m still chasing the ₹1Cr NW & I know by the time I’ll hit it the goalpost will move to ₹10Cr as flats will sell for ₹7-8Cr then. But this doesn’t mean we shouldn’t enjoy the time we have while being financially responsible.

TwirlyWaffle

Microsoft13mo

7-8 cr toh even mumbai market has not reached ..after certain peice point the city strtas to expand

BouncyJellybean

Thoughtworks13mo

bro, Bangalore rents will shoot up when it gets the metro city tag so more people will be inclined to buy properties and then the now selling ₹1-3Cr flat outside Bangalore will start selling at ₹5Cr and the now selling flat at ₹3-5Cr flat will sell at ₹7-8Cr.

The only way to become rich is to leave Bangalore and go back to a tier 2 city & buy a super luxury flat in the middle of the city at just ₹1Cr 🥹

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Reached about 2CR! Still Feel Poor! WTH is Wrong!

Talking product sense with Ridhi

How much wealth have you created yourself?

What's your net worth?

Net worths target and goals by age...

Reached 1cr net worth, 4.5yr out of tier 2.5/3 college. AMA

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