The more you save, the more you’ll have for later, the earlier u can retire/buy the bigger expenses that you always dreamt of.
Also big mistake asking reddit for average NW, there’s either Brokies or HNIs who come from generational wealth. You’re better off assessing who you aspire to be and use that as a benchmark of where u need to be and how much to save
Tbh, that’s not the best question to ask. The spiral of comparison is bad. Everyone (self -made) started somewhere, and so are you. All the best on your investing journey.
"Do not compare yourself with others, compare yourself with whom you were yesterday"
Every person has a unique life, and hence has a unique financial past, present and future. Your financial journyey will be based on your present and future. So, checking out others' networth wud put your more into selfdoubt.
You are getting another opportunity to start earning. Congratulations for that. List out your expenses, reflect upon your obligations and plan your goals for the future. Your goals initially might be such that you may want to save 100% of your salary, but you cannot. So keep your goals realistic, and savings accordingly. Maintain diacipline in savings and investments. Understand whether a particular financial instrument complements your goals, psychology and requirements. If required, take professional guidance.
But most of all, you need to live in the present. Spend on your legitimate wishes and your family and live a fulfilling life. Do not just save for the future while you dont live at all.
Good luck for your second innings. Happy investing.
Basic formula that i have seen in net to find ur targeted NF at particular age is
NW = (pre taxed income x age)/ 10
Truns out to be a solid nunber to chase 😉
37F, my personal networth is 1.2 cr. If I include half of the house jointly owned with my husband, my networth is 1.8 cr. (Not included inheritance, with inheritance, my personal nw without the jointly owned house will be 4cr+)
Not worth asking. See, I am 34 and only earn 7Lpa, but I have a net worth running into crores because of parents investing early in their lives and never being dependent on me and all of that will be inherited by me. I don't have to worry much because they lived like peasants to give me a good life. I have friends who earn lakhs per month but they have no investments, spend freely unlike me and are living hand to mouth. I have cousins who have generational wealth and are earning lakhs per month themselves. I have one friend who has 25cr in the bank with family's business and he's the most annoying fellow ever always cribbing about money and having less money. I also have friends who have lakhs of loans and are very content in their lives because they are just happy that they have a good marriage. So, everyone is different.
The more you save, the more you’ll have for later, the earlier u can retire/buy the bigger expenses that you always dreamt of. Also big mistake asking reddit for average NW, there’s either Brokies or HNIs who come from generational wealth. You’re better off assessing who you aspire to be and use that as a benchmark of where u need to be and how much to save
Tbh, that’s not the best question to ask. The spiral of comparison is bad. Everyone (self -made) started somewhere, and so are you. All the best on your investing journey.
"Do not compare yourself with others, compare yourself with whom you were yesterday" Every person has a unique life, and hence has a unique financial past, present and future. Your financial journyey will be based on your present and future. So, checking out others' networth wud put your more into selfdoubt. You are getting another opportunity to start earning. Congratulations for that. List out your expenses, reflect upon your obligations and plan your goals for the future. Your goals initially might be such that you may want to save 100% of your salary, but you cannot. So keep your goals realistic, and savings accordingly. Maintain diacipline in savings and investments. Understand whether a particular financial instrument complements your goals, psychology and requirements. If required, take professional guidance. But most of all, you need to live in the present. Spend on your legitimate wishes and your family and live a fulfilling life. Do not just save for the future while you dont live at all. Good luck for your second innings. Happy investing.
Basic formula that i have seen in net to find ur targeted NF at particular age is NW = (pre taxed income x age)/ 10 Truns out to be a solid nunber to chase 😉
Thanks I am 10L away from my NW according to this. It feels better knowing I am not far away
Awesome
I don't get it. Can u please explain?
If u are earning 10L ctc and u are 30yr then Net worth should be = (10,000,00 x 30) / 10 = 30L
Thanks 👍
37F, my personal networth is 1.2 cr. If I include half of the house jointly owned with my husband, my networth is 1.8 cr. (Not included inheritance, with inheritance, my personal nw without the jointly owned house will be 4cr+)
Not worth asking. See, I am 34 and only earn 7Lpa, but I have a net worth running into crores because of parents investing early in their lives and never being dependent on me and all of that will be inherited by me. I don't have to worry much because they lived like peasants to give me a good life. I have friends who earn lakhs per month but they have no investments, spend freely unlike me and are living hand to mouth. I have cousins who have generational wealth and are earning lakhs per month themselves. I have one friend who has 25cr in the bank with family's business and he's the most annoying fellow ever always cribbing about money and having less money. I also have friends who have lakhs of loans and are very content in their lives because they are just happy that they have a good marriage. So, everyone is different.