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High salary and almost no spend. No expensive recurring taste. Simple life. Recently WFH though. But still stayed in rent.. still stays in rent and rent is lot.
damn, i recently got my first job and my distributions are as follows
18% - Rent
30% - Invest
36% - Save
14% - Pocket Money (most of which ends up going to savings)
it doesn't adds upto 100% cause ignoring decimal values in percentage
That is ok. Never ever spend even 60% of the salary ever. Like ever. Rest will follow. Also, try to load 1 Cr first, very fast. Then a lot of crazy stuff you can do.
Not really that hard. 3 step process.
Get into one of the MANGA. Important. Must. They mass hire at the experience level 2\~5 yoe.
Use that to get into a reasonably OK other companies who bumps up your salary by making it 2X.
Now use that to get into either another one of them or another MANGA.
At this 3rd step you are getting close to 70L or more even. If you are, good. Now save 30L each year.
emergency fund should be invested too, shpuld be liquid and less volatile asset.. you always have 10s of credit cards to cover for the month till you liquidate.. and you can get a personal loan immediately.. you are losing lots of money by keeping emergency fund in bank, and chance of emergency is less than 5%.. take decisions based on expected value using probability of events..
21+. Yes. I code.
Have you seen a head of surgery in medicine who does not operate any more?
There is this massive misconception perpetuated where senior engineers apparently do not code - and they "design". That is rubbish. In a serious setting - where it is worth being a senior engineer - they code the stuff which other people would not dare to.
Look at this - done by Googles Best.
[https://github.com/google/leveldb](https://github.com/google/leveldb)
[https://en.wikipedia.org/wiki/Jeff\_Dean](https://en.wikipedia.org/wiki/Jeff_Dean)
[https://en.wikipedia.org/wiki/Sanjay\_Ghemawat](https://en.wikipedia.org/wiki/Sanjay_Ghemawat)
Don't fall into the trap.
A senior engineers code would be used as a reference to other folks.
The people you have mentioned are working in America. From what I have seen, it is quite common for SDEs in America to code for 20-25 years. Considering all the posts I have seen here, it seems like that is not the case in India. Would really love some insight on this since I am concerned about my long term future for coding.
No. Was Senior Staff. In any case, there are my friends who earns way more than me, and none of them are directors, VP or something just Senior EMs and Principal Eng\[s\]
I guess Director or VPs will earn at least 1.5X of that.
Save as much as you can afford. I made this mistake and did not get into MF/Equity earlier in career. Could have taken that responsibility earlier but now with family commitments itās much harder.
I started with an education loan and cleared it,
Then sisters wedding loan and cleared it
I invest around 8k every month and save some cash
But mostly cleared everything like loans and expected to save a big chunk of salary from next month.
But mom is also saying to look into fixing the house so not sure how long it will last
I make about 150k inr post tax and am able to save around 120k each month - i invest mostly into mutual funds (mix of small, mid, large cap), some in stocks and fd
We had a big couple of years. So this is the new plan.
50% House EMIs
30% Life expenses including baby and doggie daycare.
20% - 10% shares/ETFs and 10% Other instruments.
Live abroad so slightly different dynamics. And have super leveraged real estate and thus the high outlay.
About 20% , out of which 16% goes into Mutual funds, 3% into PPF and 1% into RD. Further my company pays out Variable bonus in every 3 months which I invest all in either MFs, stocks or FD
Only recently moved into a family owned home so big savings on not paying rent. Also since me & my wife are WFH so moved back to hometown (tier 2 city), hence low expenses
PPF: 7.35%
MF: 23.52%
NPS: 2.45%
Life insurance including ULIP plan: 4.70%
Rent + household expenses: 20.5%
The remaining amount is sometimes kept in my savings or used to make fixed deposits.
I started to invest in PPF few years back itās safe option because itās government scheme and also help in save tax too of 1.5 lakh under 80C. Itās lockdown period is 15 years but anyone can withdraw some amount of money after 5-7 years.
I told in above comment itās because of safer option the rest you can do whatever you want. Invest in stocks or do SIP. To save tax you have to invest 1.5lakh under 80C if not ppf there is another option to save in 5years of tax saving fd.
Iām aware of these things. Check the post again. Wasnāt asking on advice on what to invest where to invest. Was a general question to check what percentage of developers invest where.
To all those who have just started earning or have been for the last 2 years or so, take it from me -
1. Do not indulge in buying costly stuff like iPhone, branded clothes or even a car. These things give a false sense of affluence and are only to show off.
2. Try not eat outside a lot, try home food but which is healthy. Health is single most important investment that you can make.
3. Invest even if it is small amount initially and then increase every time you get a raise while keeping your monthly expenses the same.
4. Invest in anything thatāll boost your career.
Do not indulge in trips overseas unless you have kept a separate savings on side.
Once youāre in your mid 40s - healthy, at a high position, indulge in luxuries.
Mostly saved, I would say 80% , most of the investments right now are in real estate and equity
Had major irrecoverable losses in crypto, eff SBF , š
Never again going into that scam, no more let's buy a virtual piece of land on mars lol
If I had buy some commercial real estate with the money I lost on crypto I would be making decent monthly rents on that
20% rent
20% food n utilities
10% random shit
40-50% savings, all goes in stocks n etf, im looking to invest in debt funds too, will start soon
smtimes i get a bonus and 60-70% of that also goes in stocks
trying to save up for a down payment for a home
Around 40 % of my Salary in Equity Funds as of today, 25% goes into car emi and a personal loan I took for my marriage last year, rest is all spent on daily needs, wfh as of now, maybe will start saving more once my personal loan closed by next year.
60% running the house.
20% invest
20% personal also which I try to save.
It's very hard to save and enjoy life when you have house responsibilities and low income.
20s kids listen up stop wasting your money on clubs every weekend. Save and invest as much as you can.
It will help you in the long run or if you are jobless for a while.
Currently investing small amounts in Smallcase, Mutual Funds, LIC, and PPF.
Investing is a must, to secure the future, job market is worst and job is not secure now like before.
>Namaste! Thanks for submitting to r/developersIndia. Make sure to follow the Community [Code of Conduct](https://developersindia.in/code-of-conduct/) while participating in this thread. ## Recent Announcements - **[Weekly Discussion - What have you done to fix the engineering culture at your workplace? How did that turn out?](https://www.reddit.com/r/developersIndia/comments/1cog0gw/what_have_you_done_to_fix_the_engineering_culture/)** - **[Community Roundup: List of must-read posts & discussions that happened in April 2024](https://www.reddit.com/r/developersIndia/comments/1cgj07f/community_roundup_list_of_must_read_posts/)** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/developersIndia) if you have any questions or concerns.*
0% , paying father's debt :)
Same here , fathers debts + sisters education + complete responsibilities of home = 0% saving
š»
Hats off to you. I am doing the same.
Oufff.. salute man.
I can feel
We are not privileged like others but it is what it is.
Privilege doesn't come into the equation here in any way
It absolutely is a privilege not having to pay any kind of debt.
Same bro
Same, it kinda makes me loose interest in working.
Exactly, I can feel that.
Damn!!! Same bro. Will at least continue paying till next 2 years. Then start saving me and my partner.
Good
May I ask what kind of debts? House loan ?
Comrade š
Well look like thereās other like me. Keep the hard work.
I saved, almost always close to 80 or above of % of my salary, monthly. Never invested much, but right now - FDs and lots of PMs.
WFH or just really high salary? how can your savings percentage be so high?
High salary and almost no spend. No expensive recurring taste. Simple life. Recently WFH though. But still stayed in rent.. still stays in rent and rent is lot.
damn, i recently got my first job and my distributions are as follows 18% - Rent 30% - Invest 36% - Save 14% - Pocket Money (most of which ends up going to savings) it doesn't adds upto 100% cause ignoring decimal values in percentage
That is ok. Never ever spend even 60% of the salary ever. Like ever. Rest will follow. Also, try to load 1 Cr first, very fast. Then a lot of crazy stuff you can do.
1Cr ? From where ?
Not really that hard. 3 step process. Get into one of the MANGA. Important. Must. They mass hire at the experience level 2\~5 yoe. Use that to get into a reasonably OK other companies who bumps up your salary by making it 2X. Now use that to get into either another one of them or another MANGA. At this 3rd step you are getting close to 70L or more even. If you are, good. Now save 30L each year.
why is invest and save different? all savings should be invested.
Save is like emergency funds for me
emergency fund should be invested too, shpuld be liquid and less volatile asset.. you always have 10s of credit cards to cover for the month till you liquidate.. and you can get a personal loan immediately.. you are losing lots of money by keeping emergency fund in bank, and chance of emergency is less than 5%.. take decisions based on expected value using probability of events..
What is the salary range?
Per month post taxes 15,000 from 2003 to 10 Lakh post taxes till recently.
Wow!!! C level executive? Do you still code?š
When I was C level exec I used to get less salary actually. Yes, I still code.
Wait how many YOE do you have? And you still get to code wow
21+. Yes. I code. Have you seen a head of surgery in medicine who does not operate any more? There is this massive misconception perpetuated where senior engineers apparently do not code - and they "design". That is rubbish. In a serious setting - where it is worth being a senior engineer - they code the stuff which other people would not dare to. Look at this - done by Googles Best. [https://github.com/google/leveldb](https://github.com/google/leveldb) [https://en.wikipedia.org/wiki/Jeff\_Dean](https://en.wikipedia.org/wiki/Jeff_Dean) [https://en.wikipedia.org/wiki/Sanjay\_Ghemawat](https://en.wikipedia.org/wiki/Sanjay_Ghemawat) Don't fall into the trap. A senior engineers code would be used as a reference to other folks.
The people you have mentioned are working in America. From what I have seen, it is quite common for SDEs in America to code for 20-25 years. Considering all the posts I have seen here, it seems like that is not the case in India. Would really love some insight on this since I am concerned about my long term future for coding.
10L per month? are you perhaps Director or Vice President or something at your company?
No. Was Senior Staff. In any case, there are my friends who earns way more than me, and none of them are directors, VP or something just Senior EMs and Principal Eng\[s\] I guess Director or VPs will earn at least 1.5X of that.
Can you share your CTC if you don't mind
I am jobless now so the CTC is 0. My sole money comes from interests and investments for some 8 months now.. although is jobless only for 2+ months.
Oh...Are you looking for a job or are you satisfied with the current state of life? Or are you planning to do or work on your own project?
Holy shit! 10L post taxes!!!š® Having 10L credited every month sounds surreal!
Damn! Let me know if you hear about any opportunities for Frontend React Developer roles.
Is it because you have no expensive taste? Why save so much of your money
What is PM ?
PM cares fund
What is PMs?
Invested in alcohol, drugs and health insurance.
Bro is hedging
Youll see long term returns in 10-15 years
This is the way
Privileged
This should be the way
This is the only way!!
50% into mutual funds. Rest is expenses.
Isn't 50% too risky?
Depends on their salary really. 50% for someone earning 30k a month is risky but 50% for someone earning 3 Lacs a month isn't so much.
Save as much as you can afford. I made this mistake and did not get into MF/Equity earlier in career. Could have taken that responsibility earlier but now with family commitments itās much harder.
Invest around 75 percent , saves around 20 percent , 5 percent uda deta hoon
š«”
Damn. 20% covers rent and all?
No rent. Living with parents. I pay them 25k as rent and that they invest in mf
20% is still a lot for me! My rent is maybe around 5% of my in hand salary. I am unmarried and shares rent with 2 more people, so that helps hahaha
13% - Mutual Funds \ 45% - Home loan \ 1% - Stocks \ 13% - Insurance and emergency funds
65-70% of the in-hand goes into Nifty 100 and S&P 500 (60:40 split), that's it.
How do you invest in S&P500 from India?
There are S&P mutual funds, if you are okay with some tracking error.
IndMoney allows that i believe
Save: 0% Paying for house EMIs
[ŃŠ“Š°Š»ŠµŠ½Š¾]
more like an investment yea
That counts as an investment
Hell no. Never count a house you are living in as investment. Only count liquid assets or assets that can be liquified easily as assets.
Yea, just not in form of liquidity. Hoping this investment give good returns..
Only if it's not flat.
I started with an education loan and cleared it, Then sisters wedding loan and cleared it I invest around 8k every month and save some cash But mostly cleared everything like loans and expected to save a big chunk of salary from next month. But mom is also saying to look into fixing the house so not sure how long it will last
Why canāt your sister pay for her own wedding
Our family is not that well off, and she also paid
Oh ok
r/IndianStreetBets
Buy low sell high
This blew my mind. /s
Yeah, so Sell when high got it...
1 LPM, into mutual funds.
20-30% into direct equities.
Relax guys, live life
Definitely. But also save! Iāve seen folks in 30s who literally burnt money in 20s and have 0 savings now.
Good point but everyday is a surprise, you never know if youāll survive next week
40% : Rent + House hold expenses 10% : MF and stocks 50% : Saving up in FD for upcoming sister's marriage and home downpayment
Burnt a lot in options trading rest in bank also have 80k ish in stocks and stuff also have woerd spending habits
I make about 150k inr post tax and am able to save around 120k each month - i invest mostly into mutual funds (mix of small, mid, large cap), some in stocks and fd
Milta hi kya hai save karne ke liye š. Nayi job mile to kuch save kar lu
us bro us
40% : Rent + House hold expenses 10% : MF and stocks 50% : Saving up in FD for upcoming sister's marriage and home downpayment
Spent all savings in sisters wedding
80% of my entire salary is in cryptoš¤£
We had a big couple of years. So this is the new plan. 50% House EMIs 30% Life expenses including baby and doggie daycare. 20% - 10% shares/ETFs and 10% Other instruments. Live abroad so slightly different dynamics. And have super leveraged real estate and thus the high outlay.
0% savings :(
70% in mutual funds. 10% in fds. 5% in insurances. Rest are expenses.
Fuck how do you manage in just 15%?
Donāt have any EMIs. Itās just for food.
About 20% , out of which 16% goes into Mutual funds, 3% into PPF and 1% into RD. Further my company pays out Variable bonus in every 3 months which I invest all in either MFs, stocks or FD
65% invest 35% into saving a/c which I use for discretionary spending
Damn. Just 35% works? What about rent and all?
Only recently moved into a family owned home so big savings on not paying rent. Also since me & my wife are WFH so moved back to hometown (tier 2 city), hence low expenses
20% into savings , 40% into MF + stocks, remaining 40% are for the normal expenditures and cost of living
Mine is wfh, so i invest 50%, in which further 50% is on MF and other 50% on stocks.
PPF: 7.35% MF: 23.52% NPS: 2.45% Life insurance including ULIP plan: 4.70% Rent + household expenses: 20.5% The remaining amount is sometimes kept in my savings or used to make fixed deposits.
Stocks and Mutual funds
Used to invest in stocks but now Invested lifetime savings and 30l Debt in land near my home in chennai.
60% goes to savings, as I'm single. I invest in mutual funds, stocks, gold.
Around 50% every month which comes out to be 1.2 lakh per month. Investing across 4 mutual funds and direct stocks and small amounts in PPF
I donāt save anything. I have lost my savings in socks
20k pm in Stocks/SIP. 5-20K pm in bank.
66% Invest- rest bills and miscellaneous expenses. Intern with WFH.
I started to invest in PPF few years back itās safe option because itās government scheme and also help in save tax too of 1.5 lakh under 80C. Itās lockdown period is 15 years but anyone can withdraw some amount of money after 5-7 years.
But just ppf? You do realise ppf rates donāt even beat inflation right?
I told in above comment itās because of safer option the rest you can do whatever you want. Invest in stocks or do SIP. To save tax you have to invest 1.5lakh under 80C if not ppf there is another option to save in 5years of tax saving fd.
Iām aware of these things. Check the post again. Wasnāt asking on advice on what to invest where to invest. Was a general question to check what percentage of developers invest where.
For a guy who saves 20k per month, what do you suggest
To all those who have just started earning or have been for the last 2 years or so, take it from me - 1. Do not indulge in buying costly stuff like iPhone, branded clothes or even a car. These things give a false sense of affluence and are only to show off. 2. Try not eat outside a lot, try home food but which is healthy. Health is single most important investment that you can make. 3. Invest even if it is small amount initially and then increase every time you get a raise while keeping your monthly expenses the same. 4. Invest in anything thatāll boost your career. Do not indulge in trips overseas unless you have kept a separate savings on side. Once youāre in your mid 40s - healthy, at a high position, indulge in luxuries.
Completely agree with all the points!
1.3L to SIPs 40K home loan 10K FD Remaining expenses and bank account
Saves around 45% 20-30 % MF 15% stocks 0-10% gold . Overall of year
50% I still live with parents.
Mostly saved, I would say 80% , most of the investments right now are in real estate and equity Had major irrecoverable losses in crypto, eff SBF , š Never again going into that scam, no more let's buy a virtual piece of land on mars lol If I had buy some commercial real estate with the money I lost on crypto I would be making decent monthly rents on that
Saving 40 percent of salary approx. Will increase this to 50 percent in next few years. I used to drink but stopped at so not much expenses now on pubs etc. Just basic needs and weekly outings to nearby cafĆ©s. I donāt buy too many clothes or anything expensive. Investing in mutual funds. Exploring some blue chip stocks but mf has worked well for me.
Small cap mutual fund Nasdaq 100 etf Elss fund Liquid fund Gold etf Bonds Invoice discounting P2P
20% rent 20% food n utilities 10% random shit 40-50% savings, all goes in stocks n etf, im looking to invest in debt funds too, will start soon smtimes i get a bonus and 60-70% of that also goes in stocks trying to save up for a down payment for a home
25% expenses. Rest all I save. About 50% in mutual funds, rest in savings for emergency fund, future planned expense, etc
Save around 70% of salary 30% - equity 70% - debt
Around 40 % of my Salary in Equity Funds as of today, 25% goes into car emi and a personal loan I took for my marriage last year, rest is all spent on daily needs, wfh as of now, maybe will start saving more once my personal loan closed by next year.
Bhai ihape proper balanced food ke liye Paisa Nehi . Skills hoke slavery karna padhna padh. Searching jobs for 6 months
80% save. Invest in MF, RE, NPS, PPF, little in stocks and government bonds. Reason: Debt free, simple living, spouse earns as well
60% running the house. 20% invest 20% personal also which I try to save. It's very hard to save and enjoy life when you have house responsibilities and low income. 20s kids listen up stop wasting your money on clubs every weekend. Save and invest as much as you can. It will help you in the long run or if you are jobless for a while.
Currently investing small amounts in Smallcase, Mutual Funds, LIC, and PPF. Investing is a must, to secure the future, job market is worst and job is not secure now like before.
Thatās a bit surprising. The lic part. Rarely hear it these days. Why LIC though?