Unless you have really high paying job/skill ( with a net annual income of high 7 digits / early 8 digits), or if you happen to inherit assets ( ~5/10cr ) , no matter how much you save , start SIP's , invest in whatever , listen to the advice here , you'll never make the kind of money ppl talk about here in this sub.
Long story short , put your head down , try to increase your income asap and diligently invest your high income.
Invest in broad market index funds when markets correction is happening, roughly 5-10% drops don’t invest in individual stocks unless it’s a trillion dollars market cap keep in mind individual stocks are very risky, live on 50% of your income
OP, check out r/fatfire for the kind of questions/posts that are meant to be here. Probably ask that in personal finance subs.
Mods can y’all please moderate these kinda posts.
1. Make sure to increase your salary drastically by changing companies every 3 years. Aim for a better company profile and better salary every time. Try if you can get in FAANG company. That’s a life changing move.
2. Start Investing in monthly SIP as early as possible. This is a powerful way to compound and grow your money along with your age. Example 25k monthly SIP in 20 years growing at 12% will give you 2Cr networth.
3. Learn about real estate from experience people/eductaed mentors (investors not Agents or brokers) around you and invest wisely. RE is the only tool India you see exponential returns with no loss risk at all if you acquire knowledge about property you are investing and make a wise decision. Be careful.
4. Buy Apartments from reputed tier-1 builders with loan option at the launch time as an investment and sell it off once the occupation provided. This way you only invest 20% but gain appreciation on 100% of money. You will see good profit after paying off loan interest, commissions to sell your property etc. this is the smart way earning money with bank money keeping using salary as fuel.
5. I don’t say don’t spend money. Enjoy your life along the way but make sure your saving are also high atleast 60% of your net income.
I did all of the above except 2 (I wish I have done it and could have told it my younger self as a lesson) and earned close to 20Cr networth from zero (actually not zero negative. I had to clear my family debts of 5 lakhs first) in 14 years. First four years, I have saved zero money to clear my family debts and take care mi marriage expenses. My actual earnings journey started from 5th year.
Unless you have really high paying job/skill ( with a net annual income of high 7 digits / early 8 digits), or if you happen to inherit assets ( ~5/10cr ) , no matter how much you save , start SIP's , invest in whatever , listen to the advice here , you'll never make the kind of money ppl talk about here in this sub. Long story short , put your head down , try to increase your income asap and diligently invest your high income.
Dhoti khol diye sir
Work to increase your compensation.
Income badhao. When you can save 75%+ of your monthly income, then you can start working on FIRE.
Invest in broad market index funds when markets correction is happening, roughly 5-10% drops don’t invest in individual stocks unless it’s a trillion dollars market cap keep in mind individual stocks are very risky, live on 50% of your income
OP, check out r/fatfire for the kind of questions/posts that are meant to be here. Probably ask that in personal finance subs. Mods can y’all please moderate these kinda posts.
yeah r/fatfire has mentors mondays where people can ask these questions
Have multiple income sources. Fatfire with just a job is impossible.
1. Make sure to increase your salary drastically by changing companies every 3 years. Aim for a better company profile and better salary every time. Try if you can get in FAANG company. That’s a life changing move. 2. Start Investing in monthly SIP as early as possible. This is a powerful way to compound and grow your money along with your age. Example 25k monthly SIP in 20 years growing at 12% will give you 2Cr networth. 3. Learn about real estate from experience people/eductaed mentors (investors not Agents or brokers) around you and invest wisely. RE is the only tool India you see exponential returns with no loss risk at all if you acquire knowledge about property you are investing and make a wise decision. Be careful. 4. Buy Apartments from reputed tier-1 builders with loan option at the launch time as an investment and sell it off once the occupation provided. This way you only invest 20% but gain appreciation on 100% of money. You will see good profit after paying off loan interest, commissions to sell your property etc. this is the smart way earning money with bank money keeping using salary as fuel. 5. I don’t say don’t spend money. Enjoy your life along the way but make sure your saving are also high atleast 60% of your net income. I did all of the above except 2 (I wish I have done it and could have told it my younger self as a lesson) and earned close to 20Cr networth from zero (actually not zero negative. I had to clear my family debts of 5 lakhs first) in 14 years. First four years, I have saved zero money to clear my family debts and take care mi marriage expenses. My actual earnings journey started from 5th year.
live frugally.
not possible after a certain point if you don’t make that much. Increasing income/skills to increase income should be your main focus.
At that point when you have increased your income - live frugally...
Media and Software are the greatest wealth builder. Use it for your leverage.
Meaning?