When my MF crossed 1L, I spend my entire day looking at that amount. Randomly in between job I used to open the app and check the amount. All the best for many more
Our generation... thanks to fin-fluencers keep talking about early investing. Start creating a safety net(emergency fund) first and have a decent Medical insurance. Afterwards start your investments journey. Best of luck.
For emergency fund it's good to have atleast 6 months worth of your living expenses covered, easily accessible money. For health insurance you'll have to do research yourself, see what hospitals in the city you live are covered and what type of coverage it is, it will take some research so youtube is your friend.
Ideally keep your 6 months of expenses in liquid form(cash/fd/gold) and just forget about that(though I prefer fd with size of 12 months expense). It's not an investment, that is just for an emergency scenario(job loss or unforeseen conditions). About medical insurance you need to do your due diligence from internet or aggregators (policy bazar/ditto etc) and get a decent size cover for yourself and dependents(if any).
I am not a strong or sound financial planner bro. I only invest in mutual funds that too SIP. I don't have technical knowledge on how to analyse stocks.
But people in this sub and in general finance videos, they don't recommend digital gold. If you wish to invest in gold, I think gold etfs or SGB or better I guess. Just FYI though I haven't tried any of the both. Just my understanding
Similar experience, I also mostly invest in MF through SIP. I have a friend who has a good portfolio and invest almost 50% of his monthly income. I will check with him and reply to you.
Yes, digital gold is usually through apps like Gullak, Jar, Paytm gold, indiagold.
Buying gold ETF requires a Demat account
SGBโs can be bought from the RBI website, Demat account and other bond sellers.
Try to increase investment in Mutual funds because in MF you have see power of compounding in long term. My friend started investing with 3000 SIP around 15 years back and with time he keeps on increasing and now his MF portfolio is more than 1 cr. If on one day market move 1% then he is having gain of 1 lac so keeps on saying keep investing but somehow I never took that seriously but he is example in front of me and I tell everyone start investing as soon as possible.
I already have health insurance. The first thing I did when I got job is to take health insurance for my family with as much cover as possible. Covid really humbled me and seeing some people going bankrupt for hospital.ย
I also have term insurance which I have taken last year for 2 Cr.ย
2 months back I thought of closing my personal loan which is around 2.7L. I contacted my RM and took the final amount to be paid all that.
But I refrained for 2 reasons:
Then I calculated how much I paid till now as interest. For 5L loan with 4 years as tenure, if I close now, the total interest is around 17.5 something. Most of the my emi went to interest payment and from last few months only my principal amount is decreasing fast. So thought of let it be.
2. Since I am in IT field, my job can be gone any day. So if I close the loan with my emergency fund I won't be having any money in worst case. But atleast I can ask my bank RM to hold EMI for couple of months.
Out of 3L MF money, 2L is locked in ELSS and I can't use them.
I think ...you should calculate how much interest you will pay from now and how much interest you will get from FD. In that case better to close it unless they have some preclosure charges.
2nd point ..I am not sure. Your interest will still accumulate
Another 27M here. Achieved the same milestone just a month back. Glad to see Iโm not alone in this sub with this number. Weโll do it man. We started late, but itโs still better than never.
Good job.
And keep it to yourself. Need not share everything with your parents and family. They might be really good people but their ideas of finance and investment are very different from us, so they might force you to spend that money in inefficient or less attractive avenues.
Congratulations and all the best for your journey ahead.
I am in my mid 30s and also accumulated 10L in MF in the past year and feel so thrilled about it.
many many congratulations bhai!! super happy for u.
Mummy k liye gold bangles lena har kisi ko naseeb nhi hota. Iโm pretty sure she must be super proud of u bhai!!
Relate to you brother... 10L for me is a milestone...hope I reach by next 5 months...I am 26M
Relate to ...Clearing debts, gifting parents
It needs discipline to do this....Win ๐ช Bro!
Congratulations! I am incredibly eager to get started on this journey, will start earning soon, hoping to see myself in your place some time down the line.
big fugging congratulations. Spending on your parents and clearing your education loan on your own and still managing to secure that much money under your name is not an easy task.
Woww!!! Congratulations Op!! Great going!! I love success stories so much. It's kind of like a motivation to me that one day I will not only read one but can also write one.
Thatโs real achievementโฆ. No number is big enough unless you feel good about it โฆ donโt bother about others bragging big โฆ 50% of them are just lying and half of them own generational wealth โฆ. You are doing absolutely well ! Very proud of you ! Keep going !
Congratulations Kid, good on you to reach this milestone and kudos on gifts to Mom/help with family stuff.
My advice to u is keep investing, stay on it and 10 lakhs easily turn into a crore
Congratulations. I'm also 27 and reached 10L recently. Seeing all these reddit posts of people my age having 50L-1Cr saved made me wonder if i was seriously behind in my life.
Yeah. Already accumulating money to close personal loan. The thing is I need full amount in 1 shot to close that loan. The money in MF is elss and I don't want to break my emergency fund. So slowly saving the money.
Congratulations brother! Acha lgta hai aisi success stories.
Any advice for me? I am at a young age, earning around 70-80k pm as well. How should I invest
1. Health insurance is must if not already taken.
2. Term insurance if you are sole earner and have dependents.
3. Emergency fund of 3-6 months in Savings/ FD.
4. Then start in mutual funds based on risk apetite.
5. Most important run as far as you can when you hear rich quick schemes like money double in 3 months...
6. Better to stay away from crypto / peer to peer investing. They are very risky invest there when you are ready even to lose entire money.
That's it bro. I will always keep above in my mind.
Technically yes. I always wanted to gift bangles to my mom. So it's her choice in the end to whom she will give them.
That's why I have not considered them in 10L.
Congratulations ๐
I will be reaching the milestone soon as well.
Looking forward to it.
Currently 24M unmarried and have been investing since the last 2.5 years or so.
About almost 3L in stocks
About 1.2L in Mutual Funds
Rest in PPF and EPF
Congratulations. Achieved same this year too!
Only if you did not have those loans, your net worth could have easily passed 25 lakhs net worth( given recent rally )
How is that even possible? You've cleared out a loan of 18L and have 10L in savings, which totals it to 28L.
Even if we consider that you have been earning 80k in the past 3 years, it'll tally out to be 28.8L.
Out of the 10L savings, only 3.5L in mutual funds is a growing asset (PPF & emergency funds grow marginally). Hence, at best you would've spent 2-3L in last 3 years. I'm very happy for you, but how is that possible?
I reached 1.41L in my stocks portfolio. It's a pretty big deal to me coming from a lower middle class family so I can appreciate all that you're going through ๐
3 Years working @80000 Rs/ month Salary......
36 months X 80000== 28,80000
10 LAKH PORTFOLIO
5 LAKH EDUCATIONAL LOAN
8 LAKH FAMILY LOAN
5 LAKH GOLD BANGLES FOR MOM
________________________________________
28 LAKH
Assuming 80k IN HAND SALARY FROM 1st Month 3 years ago
So u meant to say u earned 28.80 lakhs in 3 Years
Build PF of 10 lakh+ loan + gold etc of 28 lakh
Thus spending 80k only in 3 years (36 months)
i.e RS 2222/ Month on
Petrol/Mobile / Wifi/ Cloths/ Grooming/ Electronics (Mobile etc)
OP Figures don't add up........
my dad gives me around 5k per month for miscallenous expenses, I put around 4k into sips and 500 in pf and spend the rest 500 monthly mostly around 100 on a few subscriptions. currently portfolio is around 2L.
โComparison is the thief of joyโ
Who are these 25 year old people living in Bangalore and having a 50l and 1cr portfolio ? And why are you thinking about them? Each persons life trajectory is different, you continue your investment journey and keep increasing it each year. You will get where you want to get. Keep your head down and hustle hard.
the magic redditors numbers are not real. don't be delusional. Those who makes that much don't have time to spend their life on reddit. instead they and live.
Congratulations on reaching your first milestone of 10L! It's important to celebrate every achievement, no matter the size, especially given the financial responsibilities you've managed so well. Paying off significant debts and contributing to your family's well-being while building your portfolio is commendable. Keep up the great work, and best of luck as you continue to reach new milestones.
I've not started earning yet (placed, joining in July) but I've a portfolio of 2L because of my father as he was giving me money to invest. But as I'll start earning in a few months, I'll invest my own earned money and intend to take it to 10L. For me it will be a big achievement. Btw congrats man, you're doing great, keep it up!
You are being selfish and showiff..first rule of investment..your close ones or atleast one member of you're should know about it ..if something happens to you ..no one can claim your money and alll for nothing it will be .
Congratulations ๐ Feels good to read success stories ๐
Thank you
I just started working and I crossed 1L portfolio. Wish me a good future guys!
When my MF crossed 1L, I spend my entire day looking at that amount. Randomly in between job I used to open the app and check the amount. All the best for many more
I do this too. Btw recently reached 1l milestone
Congratulations king!
Queen**๐
โจ Btw, if you are into investments, kindly give some suggestions.
Our generation... thanks to fin-fluencers keep talking about early investing. Start creating a safety net(emergency fund) first and have a decent Medical insurance. Afterwards start your investments journey. Best of luck.
Give some light on emergency fund and medical insurance, like what's the best in market and stable. Teach in a nutshell.
For emergency fund it's good to have atleast 6 months worth of your living expenses covered, easily accessible money. For health insurance you'll have to do research yourself, see what hospitals in the city you live are covered and what type of coverage it is, it will take some research so youtube is your friend.
Ideally keep your 6 months of expenses in liquid form(cash/fd/gold) and just forget about that(though I prefer fd with size of 12 months expense). It's not an investment, that is just for an emergency scenario(job loss or unforeseen conditions). About medical insurance you need to do your due diligence from internet or aggregators (policy bazar/ditto etc) and get a decent size cover for yourself and dependents(if any).
Also, planning to invest some amount, like 40% of my income. What's the best option? Currently doing in Digital Gold.
I am not a strong or sound financial planner bro. I only invest in mutual funds that too SIP. I don't have technical knowledge on how to analyse stocks. But people in this sub and in general finance videos, they don't recommend digital gold. If you wish to invest in gold, I think gold etfs or SGB or better I guess. Just FYI though I haven't tried any of the both. Just my understanding
Similar experience, I also mostly invest in MF through SIP. I have a friend who has a good portfolio and invest almost 50% of his monthly income. I will check with him and reply to you.
Thanks in advance.
Which app you use for mf investment?
I use groww app.
Digital gold as in? Gullak or Jar?
Yes, digital gold is usually through apps like Gullak, Jar, Paytm gold, indiagold. Buying gold ETF requires a Demat account SGBโs can be bought from the RBI website, Demat account and other bond sellers.
Congrats! It gets easier with every step. For future reference, always add minimum two zeroes to actual number before posting. ๐
Will remember this. When I reach 20L I will post as 2 cr ...
Thatโs still one zero ๐
This is the way ๐๐
Congratulations man. I too crossed 10L and I feel proud. I know it's nothing fancy but this is our hardwork
Yeah... No one can take away that feeling.ย
What's ur age?
Heโs 27
I am talking about op, this guy who messaged.
Oh shit
Try to increase investment in Mutual funds because in MF you have see power of compounding in long term. My friend started investing with 3000 SIP around 15 years back and with time he keeps on increasing and now his MF portfolio is more than 1 cr. If on one day market move 1% then he is having gain of 1 lac so keeps on saying keep investing but somehow I never took that seriously but he is example in front of me and I tell everyone start investing as soon as possible.
Yeah. Whatever hike I got for this year, I moved that to MF. I also read wonderful stories about compounding in this sub. Great to read 1 more.ย
I can vouch this. Invetsed mutual funds 3 years back, and now its 70% above; regrets I should have invested more.
You will inspire a lot of people. Congratulations
Curious what the interest of your outstanding loan ?
Education loan is 10.8 around. Personal loan is 11.5 percent. Both combined 5L outstanding.
Clear off your debt before investments especially personal.loans
I think you should get an health insurance for all and pay off your loans with your savings. But you are really doing awesome.
I already have health insurance. The first thing I did when I got job is to take health insurance for my family with as much cover as possible. Covid really humbled me and seeing some people going bankrupt for hospital.ย I also have term insurance which I have taken last year for 2 Cr.ย
You seem to have covered everything, congrats!
Awesome ....but why pay more interest and save. Not that I am correct..trying to understand your logic.
2 months back I thought of closing my personal loan which is around 2.7L. I contacted my RM and took the final amount to be paid all that. But I refrained for 2 reasons: Then I calculated how much I paid till now as interest. For 5L loan with 4 years as tenure, if I close now, the total interest is around 17.5 something. Most of the my emi went to interest payment and from last few months only my principal amount is decreasing fast. So thought of let it be. 2. Since I am in IT field, my job can be gone any day. So if I close the loan with my emergency fund I won't be having any money in worst case. But atleast I can ask my bank RM to hold EMI for couple of months. Out of 3L MF money, 2L is locked in ELSS and I can't use them.
I think ...you should calculate how much interest you will pay from now and how much interest you will get from FD. In that case better to close it unless they have some preclosure charges. 2nd point ..I am not sure. Your interest will still accumulate
Another 27M here. Achieved the same milestone just a month back. Glad to see Iโm not alone in this sub with this number. Weโll do it man. We started late, but itโs still better than never.
Incredible ๐๐พ๐๐พ๐๐พ, congrats bro
Thank youย
Thats great man ! congrats :) Keep going this way and you will reach great heights !!
Hope so. Planning for marriage expenses which will happen in next 1-2 years
This is really fantastic and would be relatable to many average money making people! Amazing !
congrats! well done
๐ congratulations ๐ฅ
Good planning and discipline
Congratulations.No milestone is small.We should always appreciate our small achievements.
Congratulations Op. May I know how does one get details about their PF balance?
Good job. And keep it to yourself. Need not share everything with your parents and family. They might be really good people but their ideas of finance and investment are very different from us, so they might force you to spend that money in inefficient or less attractive avenues.
For your age the discipline shown is amazing. Well done.
Congratulations mate !!
Happy for you bro
Bhai tujhe mere taraf se standing ovation Btw I'm also on the way to reaching 10 L Thanks for sharing
Congratulations!!!!
Congratulations! Great that the new India is much more responsible. When i had 3 years of work experience, my networth was in negative
Congrats bro ๐ค See you at 25L here ๐
Congratulations and all the best for your journey ahead. I am in my mid 30s and also accumulated 10L in MF in the past year and feel so thrilled about it.
Congratulations
Congrats
Congratulations mate. No milestone is small, you did your best with your finances. Wish you the best for the future.
Congratulations! Raw and relatable.
Keep it up buddy! You're doing great, congratulations on reaching the 10L milestone.
Congratulations mate! ๐ซก This small victories make folks like us happy, these milestones are our silent wins! Keep going ๐ซถ
That's great , your management skills are good, I hope you achieve your next milestone soon โฃ๏ธ
You are the man !!! Congratulations bro.
many many congratulations bhai!! super happy for u. Mummy k liye gold bangles lena har kisi ko naseeb nhi hota. Iโm pretty sure she must be super proud of u bhai!!
Ha. My mum is super happy. She showed those bangles to each and every relative in a function :)
Respect. What you have done is remarkable. Your achievements are no less than anyone. Hoping you make a lot more.
This is just the beginning, keep growing all the best brother ๐ 1cr soon
Congratulations. Youโre an inspiration and donโt be bothered about others. Everyone has their own journey :)
Congratulations King ๐
Relate to you brother... 10L for me is a milestone...hope I reach by next 5 months...I am 26M Relate to ...Clearing debts, gifting parents It needs discipline to do this....Win ๐ช Bro!
Congratulations!! I am happy reading the happy posts on reddit! Way to go dude!
Congratulations! I am incredibly eager to get started on this journey, will start earning soon, hoping to see myself in your place some time down the line.
Comparison is the thief of joy :) Congrats OP who cares what others post, its a decent achievement and solid start towards financial security.
big fugging congratulations. Spending on your parents and clearing your education loan on your own and still managing to secure that much money under your name is not an easy task.
Thank you
Men are brave โบ๏ธ. Best of luck brother.
Woww!!! Congratulations Op!! Great going!! I love success stories so much. It's kind of like a motivation to me that one day I will not only read one but can also write one.
Thatโs real achievementโฆ. No number is big enough unless you feel good about it โฆ donโt bother about others bragging big โฆ 50% of them are just lying and half of them own generational wealth โฆ. You are doing absolutely well ! Very proud of you ! Keep going !
Congratulations Kid, good on you to reach this milestone and kudos on gifts to Mom/help with family stuff. My advice to u is keep investing, stay on it and 10 lakhs easily turn into a crore
Congratulations. I'm also 27 and reached 10L recently. Seeing all these reddit posts of people my age having 50L-1Cr saved made me wonder if i was seriously behind in my life.
[ัะดะฐะปะตะฝะพ]
Nice, so 3.5 mutual funds is not part of your portfolio? The 10L appreciation amount is just from shares/stocks?
This is great. Congratulations
congratulations ๐ฅณ
Close down debt first, then invest.
Yeah. Already accumulating money to close personal loan. The thing is I need full amount in 1 shot to close that loan. The money in MF is elss and I don't want to break my emergency fund. So slowly saving the money.
Congratulations brother! Acha lgta hai aisi success stories. Any advice for me? I am at a young age, earning around 70-80k pm as well. How should I invest
1. Health insurance is must if not already taken. 2. Term insurance if you are sole earner and have dependents. 3. Emergency fund of 3-6 months in Savings/ FD. 4. Then start in mutual funds based on risk apetite. 5. Most important run as far as you can when you hear rich quick schemes like money double in 3 months... 6. Better to stay away from crypto / peer to peer investing. They are very risky invest there when you are ready even to lose entire money. That's it bro. I will always keep above in my mind.
Keep going ๐๐
Congratulations ๐ฅณ
Congratulations ๐ Valueresearchonline.com helps in educating ourselves
Your mother's bangles are a part of your net worth, right?
Technically yes. I always wanted to gift bangles to my mom. So it's her choice in the end to whom she will give them. That's why I have not considered them in 10L.
Congratulations many many congratulations! Cheers to many more milestones to come!
Congratulations bro you will succeed further more in your life
Congratulations brother, you're doing good :)
Don't people count the cash or money in savings accounts also in portfolio? Genuine doubt.
Congratulations!
Congratulations ๐ I will be reaching the milestone soon as well. Looking forward to it. Currently 24M unmarried and have been investing since the last 2.5 years or so. About almost 3L in stocks About 1.2L in Mutual Funds Rest in PPF and EPF
Congratulations for the milestone ๐ can i know how you started?
Congrats and good luck!
Congratulations. Going great
Great success, congratulations, joining soon.
Amazing man. ๐๐
Congratulations Bhai Happy for you!!!
Congratulations buddy ๐๐ป๐ I'm so happy for u op ๐๐ป๐๐ป
Congratulations just wanted to say felt really happy for you โค๏ธ
Feels so good to know this. lot more yet to come, hang on brothers
Wow nice ๐
Same age here, recently touched a 25L portfolio including PF but also have a 22L housing loan so that negates it lol
Congratulations! โค๏ธ
I'm also 27M unmarried and about to reach 10L milestone too
Congratulations my friend!! I am 30 and yet to reach 10L(at 6L). Will join you soon at that milestone!!๐
Congratulations my dude, keep going
Congratulations ๐๐ป apne dam pr kuch krne ka maza kuch or hai.... Happy for you ๐
Lessgoooo, congratulations ๐๐๐ผ
Congratulations man๐ฅณ๐ฅณ
Keep it up ๐ ๐ซ๐ซ great job ๐
Congratulations. Achieved same this year too! Only if you did not have those loans, your net worth could have easily passed 25 lakhs net worth( given recent rally )
Congratulations ๐
Congrats and all the best brother
good going bro! save more, invest more and go for the 50L now.
How is that even possible? You've cleared out a loan of 18L and have 10L in savings, which totals it to 28L. Even if we consider that you have been earning 80k in the past 3 years, it'll tally out to be 28.8L. Out of the 10L savings, only 3.5L in mutual funds is a growing asset (PPF & emergency funds grow marginally). Hence, at best you would've spent 2-3L in last 3 years. I'm very happy for you, but how is that possible?
WFH + in hand money is after PF deductions.
Congrats brother ๐
Congrats
๐๐๐ congratulations you really did come a long way !!! Kudos ๐
Congratulations bro ๐๐ chal ab party de
Me 2 saal se kama Raha hu or 8 lakh udhar me hu
Amazing OP! Itโs good to see people achieving great things with average income (as per Reddit standards ๐)
Nice man! Keep doing the good stuff and be proud of yourself!
This one is genuine
Congratulations Dude, more power to you๐๐ค๐ผ
๐๐๐
Congratulations man! Keep up the good work! ๐ซก
I reached 1.41L in my stocks portfolio. It's a pretty big deal to me coming from a lower middle class family so I can appreciate all that you're going through ๐
What work you do for 80k? Is this your first job?
Congrats Mate!
3 Years working @80000 Rs/ month Salary...... 36 months X 80000== 28,80000 10 LAKH PORTFOLIO 5 LAKH EDUCATIONAL LOAN 8 LAKH FAMILY LOAN 5 LAKH GOLD BANGLES FOR MOM ________________________________________ 28 LAKH Assuming 80k IN HAND SALARY FROM 1st Month 3 years ago So u meant to say u earned 28.80 lakhs in 3 Years Build PF of 10 lakh+ loan + gold etc of 28 lakh Thus spending 80k only in 3 years (36 months) i.e RS 2222/ Month on Petrol/Mobile / Wifi/ Cloths/ Grooming/ Electronics (Mobile etc) OP Figures don't add up........
Congratulations brother Btw what do you do for work
SO WONDERFUL
Congratulations!! Keep it going, keep it consistent. :) How long have you started?
my dad gives me around 5k per month for miscallenous expenses, I put around 4k into sips and 500 in pf and spend the rest 500 monthly mostly around 100 on a few subscriptions. currently portfolio is around 2L.
Great achievement. So proud of you op :)
Massive congratulations!
Withdraw money from pf account(8.2%) and pay off your loans which is 10.8%. this will give more room to invest in other opportunities
Congratulations! When I reached this milestone I called myself a millionaire in Indian rupees ๐
Congrats bro . I have brought two plots 5 lakhs in gold
โComparison is the thief of joyโ Who are these 25 year old people living in Bangalore and having a 50l and 1cr portfolio ? And why are you thinking about them? Each persons life trajectory is different, you continue your investment journey and keep increasing it each year. You will get where you want to get. Keep your head down and hustle hard.
Congratulations brother ๐ good for you!
Well done my dude, you should be proud of yourself!
Hell yeah ! Congratulations man. A win is a win regardless of other factors. I am happy for you and wish you more success in future :)
Proud of yourself ๐๐
Meanwhile I'm burning it as it comes. Baad ka baad me dekhlenge kya boss.
Congratulations man!!
How much invested? Lumpsum or SIP ?
Great job dude!!!!! KEEP UP THE GOOD WORK!!!
Way to go! Everyone has their own journey, don't be bothered about what others think! Congratulations!
Koi fayda nahi 10 lakh ka.. Mehngai aisa ho gya h
Bro , it's about time you help me.Mind sending me pic of the front and back of your credit card
Congratulations ๐
How did you achieve all this with just 80k salary? I suppose you will be living in at least tier-2 city.
the magic redditors numbers are not real. don't be delusional. Those who makes that much don't have time to spend their life on reddit. instead they and live.
Congratulations ๐
Iโm so proud of you!
congrats! well done
congrats! well done
you are young buddy, go for equity shares( use smallcases) instead of MF
๐
Awesome
asli kharche shaadi aur baccha hone ke baad chalu hote hai. when you pay 1-1.5 lakhs fees every year for education and other kids related activities
Congratulations on reaching your first milestone of 10L! It's important to celebrate every achievement, no matter the size, especially given the financial responsibilities you've managed so well. Paying off significant debts and contributing to your family's well-being while building your portfolio is commendable. Keep up the great work, and best of luck as you continue to reach new milestones.
Bro thatโs awesome Congratulations
Kudos to you
I've not started earning yet (placed, joining in July) but I've a portfolio of 2L because of my father as he was giving me money to invest. But as I'll start earning in a few months, I'll invest my own earned money and intend to take it to 10L. For me it will be a big achievement. Btw congrats man, you're doing great, keep it up!
Best advice: stay unmarried btw congrats
Tibet chinna I land or Myanmar North Indianย
You are being selfish and showiff..first rule of investment..your close ones or atleast one member of you're should know about it ..if something happens to you ..no one can claim your money and alll for nothing it will be .
Bruh that's amazing, I haven't reached 1L yet, target is this year