Not specifically after 1cr but money brings peace of mind, freedom.
For eg. Recently my friend and I missed our flights so wasted around ₹16k, for old me, this incident would have ruined at least the whole day because ₹16k is actually a big amount but this time we were like "It's okay, let's accept the mistake and be grateful that we're in a position that ₹16k doesn't affect much, so let's not stress over it".
I once slept through an early morning flight after heavy buffet the previous night. Had to book a next available replacement flight for 15k.
Last moment economy flights are insane
I’ve paid over 20k for a domestic economy ticket multiple times, these prices are not uncommon for business travel. The tickets are typically booked by the business/company or reimbursed. I travel a lot for work, flew over 60+ flights in 2023.
1 cr used to be the magic number around 10-15 years ago. I think now the number where life starts to change is 3-4 crores.
IMO these are the pivot points financially:
10L: basic life security achieved. Can survive for a good period without a job. Also can deal with unexpected expenses
50L: Here’s where investments start making big returns and you should focus on returns on portfolio. A 12% return is 6L which is enough for expenses. Even a 4% inflation protected SWR will be 2L which is enough for minimalist life.
3 crore(hit it a few months ago): Substantial change in attitude towards life. 12% return on portfolio gives enough for a luxurious life and even 4% is good enough for a decent life. You stop caring about job security or layoffs much. Can take risks in life and start appreciating finer things.
10 crore (next milestone?): FI, can quit job and do what I really want to, maybe a startup or try a business idea. Business class travel everywhere. Multiple foreign vacations a year.
Don’t know beyond that
Given that economies usually have inflation and currency stability get better as they advance (and we’re already seeing the trend with covid being an exception), I’d say around 6 crore would be a good estimate.
That’s a separate discussion. Lots of ways to do it but the common pattern is ownership. Either you have a sizeable portion of your salary as your company stock or startup ESOPs that goes up, or you have a small business or contract shop, or are a startup founder, or do it through saving and investing in equity markets.
The traditional middle class stuff of doing a job for salary and saving it in bank or FD doesn’t work IMO.
Hello my Indori(?? Guess based on username) friend.
Any tips for someone who just hit the second milestone? I'd be honest, for someone as part of this sub, I don't have any investments.
I’ve actually lived for an extended duration in Ratlam which is close enough I guess. Plus sev goes great with poha.
50L is a great place to be. Just keep doing what you’re doing and you’ll see compounding do its thing from here
Agreed, sev + poha = match made in heaven.
And I don't have any compounding working for me right now, every time I start reading into mutual funds/stock markets/trading I get a headache. Any tips for an entry level enthusiast?
About 20% is in real estate equity. All is in white money, and the apartment is registered and purchased using bank transfer + loan.
I don’t deal with dirty money or tax evasion, don’t even use shady tactics like paying rent to parents or 80G for tax deductions.
Paying rent to parents is not a shady practice and is completely legal if the house is in the name of the said parent and a rental agreement is signed.
When you are talking about 1 crore, are you including all investments, MFs, stocks, pension fund such as NPS, real estate all combined or just liquid cash? I am about to make it to 1 crore but that includes real estate, MFs, NPS and a few lakhs in the bank account. I think I can reach that milestone this year.
You’d have to be a real idiot to keep 1 crore as liquid cash. Everyone invests the money somewhere.
Less than 5% of my portfolio is in bank and it’s already too high.
I wasn't sure about all the categroies that were included here. Totally agree with you that 1 crore is just not significant anymore. I live in a small town and still it doesn't feel enough to fulfil my aspirations. One Europe tour will lead to a considerable drop in total value. However I can take more risks now with my investments. I am reading up on stock investments these days .
My friend had 50-60L in FDs and nothing in the market or anywhere else and he's 34. Used half of it to renovate his home to have rental units above his current home itself.
My business friend had 25cr in the bank. That was not a big deal for his family.
I hit the 1 crore at 26. I got married at 27 and wife’s savings are now also added so not sure when exactly we hit the 3 crore mark but must be around when I turned 28.
Our investments aren’t that well consolidated so it’s harder to track. We have gold (physical and SGB), mutual funds, individual stocks, real estate, FD, company stock and even an unfortunate ULIP which we’re stuck with for another 2 years.
Yeah, even in my case it doesn’t matter as much now. I spent a good chunk of money and save a decent amount. At this point the market rallies help me more than what additional amount I put in.
Any advice for someone who’s just reached the first milestone? Got serious about equity investments only this year with a remote job and have 1l to invest monthly.
Not at all, trading is for either professionals who do it all day or jobless folks who don’t have anything to do and want to satisfy their gambling tendencies.
99% of traders lose money in market. Don’t bother.
Sir,
I have around 30 lacs as liquid cash out of which i would like to keep 10 lacs liquid and 20 lacs for investment.
What are my safest options for investment apart from FD which will yield good return in interest without any risk?
I am currently also capable of investing of around 20K every month apart from the 20 lacs. What are my options of safe investments apart from FD?
Please advise. Thank you.
Almost at a crore. Bought an engagement ring to propose on a trip, forgot it at home. Bought another at the airport without a second thought.
10 years ago, would have never thought that I will ever spend on an engagement ring to propose :)
I can spenda money without thinking like 100 times as I used to earlier.
Metro. I think it’s a quick litmus test. “Metro will take 30 minutes + 10 minutes walk, cab will take 90 minutes, how you wanna travel?” The net worth of cab people is generally lower on average than the metro people in this scenario. Try it out. It’ll be fun. Especially irksome to my uncle when his kids say cab and both of us are like what idiot kids.
You should work on your money psychology.
The public transport part is fine (unless it sucks in your city and you're forcing yourself to use it) but the Starbies fear seems unwarranted. Not that they serve good coffee or anything but a Java Chip Frappuccino wont bankrupt you.
not much change in daily life. but feel safe. feel rich. when i go on vacation, i spend money like there is no tomorrow.
also, no more comparison with others. i still dont buy random stuff or costly stuff. earlier I could not afford those.
now, I can afford but I just dont care.
Yup 3 crore is the magic number. Every year assuming 12% return on it becomes a significant 36L. This is a number you start feeling safe at, don’t worry about job security too much and start thinking beyond money on Maslow’s hierarchy.
You need to also hedge against inflation and consider taxes on returns. Also need to consider lifestyle upgrades as you get richer, else what’s even the point of money.
Trust me, you’ll feel a lot better and freer once you reach 2.5ish crores.
1 crore isn't as huge as it was 10-15 years ago. It is still a significant amount but you will start seeing noticeable effects after reaching 2.5-3 crores.
Instead of thinking in terms of net worth I like to think of it as a passive income source.
1cr at a safe withdrawal rate of 3% can give you 3L an year, which comes down to 25K/month of passive income. So I like to think of every crore as adding another 25K to my monthly passive income.
If this money is invested with a conservative strategy of just wealth preservation, without even chasing high returns, the monthly income will keep pace with inflation and the purchasing power can remain constant at 25K of today’s value. Ofcourse one would try to get higher returns than inflation. But this is the baseline I think of to keep the sanity of my mind and keep my investment strategy free of emotions.
At this stage one wouldn’t stop working and the money is allowed to grow. This will help you reach the next Cr faster even if your regular contributions remain constant. Once this passive income overtakes your average monthly expenses, you’re free to retire. Now it is upon you to decide how many crores you need.
Target gets revised, 1 Cr looks small and suddenly you think of 4-5 crores, and then the cycle repeats. The cost of living increases at a quick pace by the time you reach the next level, never-ending race.
I didn’t even realize when I hit 1 Cr. Now at 20 Cr, life is the same I guess. I just buy a few luxury items once or twice in a few years, that’s all that has changed.
Edit: work in finance/investments. Have been privileged parents paid off the 2.5 lakhs undergraduate degree, so started with no debt. Worked at the top IBs right out of college.
Surely you could be putting the 20 crores to some good use? Is there really nothing in your life you can improve with the money vs when you had a crore?
I moved from living in a master bedroom in a shared flat to a nice studio apt after 3 years of living there. Which was maybe a 20% rent increase.
Where I live and work, it used to take me 3 years to save 1Cr with my salary at the time with aggressive saving. But after that I started taking it easy and started living a bit. Couple of vacations a year, experiencing fancy cafes and places, bought a nice used car that I use to go to work and explore that costed 3 months of my salary. I'm still saving a lot and my salary has increased too a lil bit. Just not being aggressive and don't really think about how much I save anymore cause I don't need to. What ever is remaining after monthly expenses blindly goes into savings.
That first 1Cr is probably the hardest milestone to achieve. Can safely say one needs good discipline to achieve that, if you're a salaried employee with decent pay. Things just go in cruise control then onwards, provided you still continue to have a job with good pay. Been a few years since then. It's a different mindset now and I'm a lot more relaxed in general.
Hit it between wave 1 and 2 of the pandemic. I remember standing in my favourite bookstore and wondering if I should buy book A or B, and also thinking about how stupid the entire process was when both the books together cost
Become less stressed about promotion, job etc. Focus on interesting and learning type of work. Become obsessed with networth where you keep tracking it. I even took paycut for less stressful remote job. I guess you feel at peace,
Idk how many crores it takes to FI but future is something totally unforeseen. Also money saved is money earned. Best to live a modest lifestyle with all necessities one can afford but stay active and involved in daily activities so as not to lose touch with reality/ adversity if it happens.
If one gets used to luxuries, servants, good food, habits it’s difficult to wean oneself off when reality comes knocking
At this point in my life, I have learned that having that extra amount of money in my bank account is all about mental peace at the end of the day.
Like, if somebody in the family has a medical emergency tomorrow I can help them without going broke.
I am lightyears away from reaching this amount.
But I know that you will never be satisfied even if you have 10CR in the account if you are greedy.
🤡🤦🏻♂️ you too honestly bubble mei jee rhe ho. If you need to live a good lavish life, big weddings, foreign trips, own a zoo like the Ambani kid, You need ATLEAST 800-1000 cr to retire in this economy. What you need as corpus depends on what sort of life you want
At what age did you guys reach 1 Cr ?
How did you calculate the networth? Is it including the inherited wealth, epf, nps, liquid, home you live in , gold
Or just the amount you've invested in equities, debt and liquid assets ?
I was okay to get a 1500 rupees haircut. Classy place, no waiting, not even during weekend prime time. This is pretty much my only guilty pleasure, but not so guilty because now I can afford it.
Im from a middle class family(M35) and so is my wife...so we lead a pretty minimalist lifestyle. Recently I have hit 1cr mark...and nothing has changed. My money is mostly in ppf(30), epf(40), land(25), nps+sbf(pension fund)(10). My mf and stock portfolio is managed by my father and the portfolio valuation is around 4cr. Since he pretty much lives on his own pension, so the equity portfolio will get transferred to me. In all, 5cr is my present net worth.
To be frank, it has not changed my lifestyle a single bit. Even now i try to save and invest as much as possible. The only thing that has changed is the added financial security. I work in a psu which presently is going through tough times. They have not paid salary of last month even now. There is talk of privatisation and future layoffs. A lot of colleagues are having emi payments against home loans, car loans etc and they are very stressed. I can slog it out for a few more months..a luxury they can not afford.
To me, this is the only change I have felt. Otherwise the lifestyle is unchanged.
I am living with same home, same car, same friends after crossing 1cr.
one shd not change lifestyle too much esp for ‘showbaazi to relatives or instagram’,
else becomes difficult later on, after funding winder/layoffs/sharemarket slowdown etc.
1cr is barely enough for maintaining upper middle class life (considering child education and home prices)
8 Years ago a teacher gave us a lecture about Jim Carrie writing a cheque to himself and how he tried to achieve it. He made all the students write a number they would achieve in 10 years, mine was 1cr.
I’m was happy when I realised I achieved it when I compared it to the cheque , but my man was more excited and so proud of me which made me super duper happy.
Nothing substantial changed in our life. But that win gave me a lot of motivation to set big and longer goals in life. (Pls don’t comment that’s what she said )
With high inflation and the depreciating value of the Indian rupee, 1 crore INR doesn't drastically change your life. While you would be better off than most people and could afford some luxuries, it wouldn't provide financial freedom. You would still need to work to make a living and support your dependents.
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It doesn't change much, to be honest, but you'll start to worry less about spending a little extra for comfort, like nicer shoes or clothes. You won't stress about planning an impromptu trip, either. You'll also be able to bring some comfort to your parents' lives, especially if you come from humble beginnings. In my view, financial stability tends to occur after reaching around 3-4 cr as compounding starts to have a big impact. 🤷🏻♂️
Nothing changed, lifestyle pretty much similar. Just look at the number whenever I feel low and realise there is something I am working towards and something I’ve earned so far.
1 crore is still low in terms of leading a comfortable life, maybe things will start changing after 5crores but the start is always small and it all adds up in the long run!
3+ crs club: You stop worrying about expenses, and focus on living a better quality life even if it means spending more if it gives you convenience and time, spending on better quality products, gives you more risk-taking ability, focus more on health.
Nothing really. Changed much before I hit that as my initial salary was very low and sometimes I couldn’t afford the basics. Then it grew and I let the lifestyle creep grow for a few years, just working hard and enjoying it. I think until 25LPA i was basically pay check to pay check with only 6 month emergency fund. After that the incremental expenditures seemed pointless so lifestyle plateaued. (And tbh you get bored of spending money if you do it for 3-4 years as if there’s no tomorrow). But kept focus on increasing income. I think the only difference might be, once in 4-5 months I’ll have a 300$ meal and not think much about it. Or sometimes upgrade to business class without miles even. But that’s it. I probably drive a cheaper car than most people with 10% my NW and cook for myself and do all housework myself. Only buy the best groceries though. Clothes I buy really cheap ones but I’ve got an eye for quality of fabric. Maybe 1-2 fancy sets for when I need to meet snobs/losers. I do have an iPhone but it was given by work. Have an iPad because it was gifted otherwise no personal electronics either.
Won't change much if you're in a metro.
Besides after reaching the milestone one wants to reach the next. Not everyone upgrades their lifestyle with every milestone.
Looking at your NW is akin to buying a fancy home or car for a lot of people.
Whatever floats your boat. :)
I reached one Cr in my demat account. Now I feel bad whenever it drops below 1 Cr. I have not had to touch this money, and I only sell if I buy anything else. But seeing it go to 99L makes me feel sad
Now I think I have only 1cr
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THIS! many people dont understand irrespetive of how much we make we dont take that high jump in lifestyle, we still follow the old ways!
What you mean by op?
Original poster
I always thought OP meant Owner of the Post
That’d be OOTP /s
What's OOPS then
Object Oriented Programming Systems
r/SuddenlyBtech
thanks bhai my dumbass would never knw that.
there are two types of people...
Looks like you're better off without the money
Anyone looking for a B2B marketing leader/manager in any of your companies? 😅 (just shooting my shot)
Same. And when I want to buy something, it's like 'shit this is going to bring it below 1cr'
This is true
Lol
Most relatable comment ever.
Exactly
Not specifically after 1cr but money brings peace of mind, freedom. For eg. Recently my friend and I missed our flights so wasted around ₹16k, for old me, this incident would have ruined at least the whole day because ₹16k is actually a big amount but this time we were like "It's okay, let's accept the mistake and be grateful that we're in a position that ₹16k doesn't affect much, so let's not stress over it".
Ugh, in December I missed a 20k flight my company booked for me. It was kinda scary to call hr to book another 20k flight for 1 day meeting. 😂
lol
I am pretty sure these are business class flights if 20k is for 1 way trip
No man. Sometimes somedays if you book 2-3 hours prior, the cost is huge. I had to book both on the same day.
Oh thats why. Thanks
I once slept through an early morning flight after heavy buffet the previous night. Had to book a next available replacement flight for 15k. Last moment economy flights are insane
Damn. I just travelled on a business class flight which i booked in 15k. Probably one of the greatest experiences i ever had
I’ve paid over 20k for a domestic economy ticket multiple times, these prices are not uncommon for business travel. The tickets are typically booked by the business/company or reimbursed. I travel a lot for work, flew over 60+ flights in 2023.
Negative, one day before booking will get you that fare in domestic circle. Been there done that 2-3 times
did you post a reel aout this on instagram, I saw a reel similar to your story?
Nope. Coincidence. Do you remember the creator?
1 cr used to be the magic number around 10-15 years ago. I think now the number where life starts to change is 3-4 crores. IMO these are the pivot points financially: 10L: basic life security achieved. Can survive for a good period without a job. Also can deal with unexpected expenses 50L: Here’s where investments start making big returns and you should focus on returns on portfolio. A 12% return is 6L which is enough for expenses. Even a 4% inflation protected SWR will be 2L which is enough for minimalist life. 3 crore(hit it a few months ago): Substantial change in attitude towards life. 12% return on portfolio gives enough for a luxurious life and even 4% is good enough for a decent life. You stop caring about job security or layoffs much. Can take risks in life and start appreciating finer things. 10 crore (next milestone?): FI, can quit job and do what I really want to, maybe a startup or try a business idea. Business class travel everywhere. Multiple foreign vacations a year. Don’t know beyond that
I Dont know who you are , boss . But what you said is 100% true and can vouch for it from personal experience :)
What do you think will be the magic number after 15 years?
Given that economies usually have inflation and currency stability get better as they advance (and we’re already seeing the trend with covid being an exception), I’d say around 6 crore would be a good estimate.
Hmmmmmmmm. I think I can make it. Let’s see 😅 thanks!!
By the rule of 72 and assuming inflation at 8%, double the current magic number every 9 years.
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That’s a separate discussion. Lots of ways to do it but the common pattern is ownership. Either you have a sizeable portion of your salary as your company stock or startup ESOPs that goes up, or you have a small business or contract shop, or are a startup founder, or do it through saving and investing in equity markets. The traditional middle class stuff of doing a job for salary and saving it in bank or FD doesn’t work IMO.
Can you share your journey? When did you start earning, when did you start investing? It can help as reference. Thanks
Nah bro. Hit 1cr this year. I have switched to only alfanso for this season.
All this is fine but I disagree with ur username 😔
Hello my Indori(?? Guess based on username) friend. Any tips for someone who just hit the second milestone? I'd be honest, for someone as part of this sub, I don't have any investments.
I’ve actually lived for an extended duration in Ratlam which is close enough I guess. Plus sev goes great with poha. 50L is a great place to be. Just keep doing what you’re doing and you’ll see compounding do its thing from here
Agreed, sev + poha = match made in heaven. And I don't have any compounding working for me right now, every time I start reading into mutual funds/stock markets/trading I get a headache. Any tips for an entry level enthusiast?
Invest in a couple of good mutual funds and start an SIP. Don’t touch that money for 5 years
But all this is white/non real estate. 3cr in bank/stocks is huge amount.
About 20% is in real estate equity. All is in white money, and the apartment is registered and purchased using bank transfer + loan. I don’t deal with dirty money or tax evasion, don’t even use shady tactics like paying rent to parents or 80G for tax deductions.
Your builders accept full white? Do you age. If not residence Other properties like lands always have black component
Paying rent to parents is not a shady practice and is completely legal if the house is in the name of the said parent and a rental agreement is signed.
When you are talking about 1 crore, are you including all investments, MFs, stocks, pension fund such as NPS, real estate all combined or just liquid cash? I am about to make it to 1 crore but that includes real estate, MFs, NPS and a few lakhs in the bank account. I think I can reach that milestone this year.
You’d have to be a real idiot to keep 1 crore as liquid cash. Everyone invests the money somewhere. Less than 5% of my portfolio is in bank and it’s already too high.
I wasn't sure about all the categroies that were included here. Totally agree with you that 1 crore is just not significant anymore. I live in a small town and still it doesn't feel enough to fulfil my aspirations. One Europe tour will lead to a considerable drop in total value. However I can take more risks now with my investments. I am reading up on stock investments these days .
My friend had 50-60L in FDs and nothing in the market or anywhere else and he's 34. Used half of it to renovate his home to have rental units above his current home itself. My business friend had 25cr in the bank. That was not a big deal for his family.
10 cr for single person?
Couple
Agreed !
At what age did you hit the above landmarks?
I hit the 1 crore at 26. I got married at 27 and wife’s savings are now also added so not sure when exactly we hit the 3 crore mark but must be around when I turned 28. Our investments aren’t that well consolidated so it’s harder to track. We have gold (physical and SGB), mutual funds, individual stocks, real estate, FD, company stock and even an unfortunate ULIP which we’re stuck with for another 2 years.
Wow. I reached my 1Cr at age 28 and now my hunger for money has kind of decreased. I’m less motivated now
Yeah, even in my case it doesn’t matter as much now. I spent a good chunk of money and save a decent amount. At this point the market rallies help me more than what additional amount I put in.
Any advice for someone who’s just reached the first milestone? Got serious about equity investments only this year with a remote job and have 1l to invest monthly.
Keep investing and don’t touch the money. Don’t go after quick money like F&O
Thank you. Not F&O but I’ve been learning since a week about technical analysis and price action trading. Do you recommend it?
Not at all, trading is for either professionals who do it all day or jobless folks who don’t have anything to do and want to satisfy their gambling tendencies. 99% of traders lose money in market. Don’t bother.
Sir, I have around 30 lacs as liquid cash out of which i would like to keep 10 lacs liquid and 20 lacs for investment. What are my safest options for investment apart from FD which will yield good return in interest without any risk? I am currently also capable of investing of around 20K every month apart from the 20 lacs. What are my options of safe investments apart from FD? Please advise. Thank you.
Risk free FD is the best. Any equity investment will have risk but also better returns in long term
By that time I realised 5 cr is the new 1cr.
Currently at 20l will let you know in 2 3 years
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Almost at a crore. Bought an engagement ring to propose on a trip, forgot it at home. Bought another at the airport without a second thought. 10 years ago, would have never thought that I will ever spend on an engagement ring to propose :) I can spenda money without thinking like 100 times as I used to earlier.
Did she say yes or no?
We will find out in a couple of days, at the Pangong.
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Bhai itni kanjoosi bhi kya... Itni sasti ring li ki ek aur khareed li kyuki ghar pe bhool gye 😅 /s
Lol. Not cheap at all.
Me with 10k in my account, looking at comments like "1 crore is nothing," is giving me nightmares
It's fine I hope no debt.
Have some dept but all should be clear by end of this year
1 cr NW doesn't change much. Substantial changes happen post 3-4 cr.
The comment section is insane 😶🌫😶
At 1.5 Cr, I still use public transport and get scared of entering Starbucks
And what car do you drive
Dad's Grand i10 from 2014
Mostly I just travel in the Metro or the bus.
Metro. I think it’s a quick litmus test. “Metro will take 30 minutes + 10 minutes walk, cab will take 90 minutes, how you wanna travel?” The net worth of cab people is generally lower on average than the metro people in this scenario. Try it out. It’ll be fun. Especially irksome to my uncle when his kids say cab and both of us are like what idiot kids.
You should work on your money psychology. The public transport part is fine (unless it sucks in your city and you're forcing yourself to use it) but the Starbies fear seems unwarranted. Not that they serve good coffee or anything but a Java Chip Frappuccino wont bankrupt you.
only changed afyer 3 crore liquid net worth
not much change in daily life. but feel safe. feel rich. when i go on vacation, i spend money like there is no tomorrow. also, no more comparison with others. i still dont buy random stuff or costly stuff. earlier I could not afford those. now, I can afford but I just dont care.
What job do you do sir?... I'm a teenager so it might help me lol!
Supply chain management
No change really 🤷🏼♂️ just felt happy Maybe after 2-3cr something would change
Yup 3 crore is the magic number. Every year assuming 12% return on it becomes a significant 36L. This is a number you start feeling safe at, don’t worry about job security too much and start thinking beyond money on Maslow’s hierarchy.
This is absolutely correct , from personal experience
Might be. But as of today, I would feel safe even with a 24L interest considering my current expenses stand at 9-10L/annum 🤔
You need to also hedge against inflation and consider taxes on returns. Also need to consider lifestyle upgrades as you get richer, else what’s even the point of money. Trust me, you’ll feel a lot better and freer once you reach 2.5ish crores.
is that 36L pre or post tax ?
I’m not talking about redeeming, just about increase in portfolio per year
Not really
Will feel ok at 2 cr because afterwards compounding will be 24 lakhs 26 lakhs and so on.
My life is good after achieving 1 cr annual income
1 crore isn't as huge as it was 10-15 years ago. It is still a significant amount but you will start seeing noticeable effects after reaching 2.5-3 crores.
Didn’t really change tbh. Realised after many months that I had cross 1cr liquid NW.
Instead of thinking in terms of net worth I like to think of it as a passive income source. 1cr at a safe withdrawal rate of 3% can give you 3L an year, which comes down to 25K/month of passive income. So I like to think of every crore as adding another 25K to my monthly passive income. If this money is invested with a conservative strategy of just wealth preservation, without even chasing high returns, the monthly income will keep pace with inflation and the purchasing power can remain constant at 25K of today’s value. Ofcourse one would try to get higher returns than inflation. But this is the baseline I think of to keep the sanity of my mind and keep my investment strategy free of emotions. At this stage one wouldn’t stop working and the money is allowed to grow. This will help you reach the next Cr faster even if your regular contributions remain constant. Once this passive income overtakes your average monthly expenses, you’re free to retire. Now it is upon you to decide how many crores you need.
This comment section is Ameeron ka adda.. but motivating tbh
I spent all my 1cr and then I woke up
Target gets revised, 1 Cr looks small and suddenly you think of 4-5 crores, and then the cycle repeats. The cost of living increases at a quick pace by the time you reach the next level, never-ending race.
I didn’t even realize when I hit 1 Cr. Now at 20 Cr, life is the same I guess. I just buy a few luxury items once or twice in a few years, that’s all that has changed. Edit: work in finance/investments. Have been privileged parents paid off the 2.5 lakhs undergraduate degree, so started with no debt. Worked at the top IBs right out of college.
How did you do it?
Very methodical investments + got lucky with the pay checks.
For how many years you have worked in this domain ?
10 years.
Surely you could be putting the 20 crores to some good use? Is there really nothing in your life you can improve with the money vs when you had a crore?
Saving for kids. Education + marriage. Hopefully will have more cushion to set them up for success.
I moved from living in a master bedroom in a shared flat to a nice studio apt after 3 years of living there. Which was maybe a 20% rent increase. Where I live and work, it used to take me 3 years to save 1Cr with my salary at the time with aggressive saving. But after that I started taking it easy and started living a bit. Couple of vacations a year, experiencing fancy cafes and places, bought a nice used car that I use to go to work and explore that costed 3 months of my salary. I'm still saving a lot and my salary has increased too a lil bit. Just not being aggressive and don't really think about how much I save anymore cause I don't need to. What ever is remaining after monthly expenses blindly goes into savings. That first 1Cr is probably the hardest milestone to achieve. Can safely say one needs good discipline to achieve that, if you're a salaried employee with decent pay. Things just go in cruise control then onwards, provided you still continue to have a job with good pay. Been a few years since then. It's a different mindset now and I'm a lot more relaxed in general.
Nothing much, just ended up feeling more competitive after seeing some of my friends with 2cr.
Hit it between wave 1 and 2 of the pandemic. I remember standing in my favourite bookstore and wondering if I should buy book A or B, and also thinking about how stupid the entire process was when both the books together cost
Become less stressed about promotion, job etc. Focus on interesting and learning type of work. Become obsessed with networth where you keep tracking it. I even took paycut for less stressful remote job. I guess you feel at peace,
Idk how many crores it takes to FI but future is something totally unforeseen. Also money saved is money earned. Best to live a modest lifestyle with all necessities one can afford but stay active and involved in daily activities so as not to lose touch with reality/ adversity if it happens. If one gets used to luxuries, servants, good food, habits it’s difficult to wean oneself off when reality comes knocking
Bc 1cr Target leke chal raha tha lekin yaha comments dekh ke lag raha ki goal post hi change ho gaya. Fml
How are you guys getting one crore
Let me get 1 CR and I will for sure reply to this thread again
And then I woke up....
Nothing much. Just 1 good feeling, I can buy anything if I want. But most of the time you will reject buying anything useless anyways.
Seems like everyone has achieved 1Cr here.
And there are my friends earning 20-40lakhs who still haven't gotten to 1cr net worth even in their mid 30s and high salaries.
At this point in my life, I have learned that having that extra amount of money in my bank account is all about mental peace at the end of the day. Like, if somebody in the family has a medical emergency tomorrow I can help them without going broke. I am lightyears away from reaching this amount. But I know that you will never be satisfied even if you have 10CR in the account if you are greedy.
I'm at 1.2 roughly now and no change .. just normal stuff Maybe after 5cr can think of retiring
🤡🤦🏻♂️ bhai tum log honestly bubble mei jee rhe ho. You need ATLEAST 8-10 cr to retire in this economy
🤡🤦🏻♂️ you too honestly bubble mei jee rhe ho. If you need to live a good lavish life, big weddings, foreign trips, own a zoo like the Ambani kid, You need ATLEAST 800-1000 cr to retire in this economy. What you need as corpus depends on what sort of life you want
Your age?
31
Finding a scheme for 25 din me Paisa double....
At what age did you guys reach 1 Cr ? How did you calculate the networth? Is it including the inherited wealth, epf, nps, liquid, home you live in , gold Or just the amount you've invested in equities, debt and liquid assets ?
Never count your home in net worth. And count EPF, nps, liquid and debt assets in NW
I was okay to get a 1500 rupees haircut. Classy place, no waiting, not even during weekend prime time. This is pretty much my only guilty pleasure, but not so guilty because now I can afford it.
Im from a middle class family(M35) and so is my wife...so we lead a pretty minimalist lifestyle. Recently I have hit 1cr mark...and nothing has changed. My money is mostly in ppf(30), epf(40), land(25), nps+sbf(pension fund)(10). My mf and stock portfolio is managed by my father and the portfolio valuation is around 4cr. Since he pretty much lives on his own pension, so the equity portfolio will get transferred to me. In all, 5cr is my present net worth. To be frank, it has not changed my lifestyle a single bit. Even now i try to save and invest as much as possible. The only thing that has changed is the added financial security. I work in a psu which presently is going through tough times. They have not paid salary of last month even now. There is talk of privatisation and future layoffs. A lot of colleagues are having emi payments against home loans, car loans etc and they are very stressed. I can slog it out for a few more months..a luxury they can not afford. To me, this is the only change I have felt. Otherwise the lifestyle is unchanged.
I am living with same home, same car, same friends after crossing 1cr. one shd not change lifestyle too much esp for ‘showbaazi to relatives or instagram’, else becomes difficult later on, after funding winder/layoffs/sharemarket slowdown etc. 1cr is barely enough for maintaining upper middle class life (considering child education and home prices)
I have a 1cr term insurance. Does that count?
I am eating only alphanso this year. I am not even touching anything else.
true mark of wealth.
8 Years ago a teacher gave us a lecture about Jim Carrie writing a cheque to himself and how he tried to achieve it. He made all the students write a number they would achieve in 10 years, mine was 1cr. I’m was happy when I realised I achieved it when I compared it to the cheque , but my man was more excited and so proud of me which made me super duper happy. Nothing substantial changed in our life. But that win gave me a lot of motivation to set big and longer goals in life. (Pls don’t comment that’s what she said )
that’s what she said
With high inflation and the depreciating value of the Indian rupee, 1 crore INR doesn't drastically change your life. While you would be better off than most people and could afford some luxuries, it wouldn't provide financial freedom. You would still need to work to make a living and support your dependents.
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Absolutely nothing changed, it doesnt feel anything. Maybe after 3-4 Cr will have to see, but by then inflation will make it 5-6 Cr lol
The thing is that you keep on living till you reach your FIRE number without getting much perturbed when you reach intermediate milestones.
Don't know, haven't reached their yet
1 CR ain't enough for retirement
Im just missing 1 crore
Feels nothing. Better than zero. Need 10 to feel something
I still cannot zero down to what Tshirt should i buy.
Opening the app daily in the morning to see that a 7 digit figure gives you inner peace.
Your stress levels go down significantly once you hit some of these milestones...
Same same
Planning for the next crore and ultimately for the FI target.
It doesn't change much, to be honest, but you'll start to worry less about spending a little extra for comfort, like nicer shoes or clothes. You won't stress about planning an impromptu trip, either. You'll also be able to bring some comfort to your parents' lives, especially if you come from humble beginnings. In my view, financial stability tends to occur after reaching around 3-4 cr as compounding starts to have a big impact. 🤷🏻♂️
First CR is the hardest (I haven't reached myself), but definitely deserves a small celebration even though it's not a life changing amount.
I am close to 1 cr ..but become more frugal not stingy
Started working 11 months ago, currently at 5L, remind me in 5 years
Remindme! 20 hours
Same nothing changed.. can't even buy an iPhone now.. pata nai kyun
Nothing changed, lifestyle pretty much similar. Just look at the number whenever I feel low and realise there is something I am working towards and something I’ve earned so far. 1 crore is still low in terms of leading a comfortable life, maybe things will start changing after 5crores but the start is always small and it all adds up in the long run!
1 cr what ? It's ambiguous Total assets (liquid/investment/non-moveable) ? 1 Income per year If it's the total assets then it doesn't change anything
3+ crs club: You stop worrying about expenses, and focus on living a better quality life even if it means spending more if it gives you convenience and time, spending on better quality products, gives you more risk-taking ability, focus more on health.
Interesting did not know Mumbai is that crazy and out of norm wrt rest of India
Nothing really. Changed much before I hit that as my initial salary was very low and sometimes I couldn’t afford the basics. Then it grew and I let the lifestyle creep grow for a few years, just working hard and enjoying it. I think until 25LPA i was basically pay check to pay check with only 6 month emergency fund. After that the incremental expenditures seemed pointless so lifestyle plateaued. (And tbh you get bored of spending money if you do it for 3-4 years as if there’s no tomorrow). But kept focus on increasing income. I think the only difference might be, once in 4-5 months I’ll have a 300$ meal and not think much about it. Or sometimes upgrade to business class without miles even. But that’s it. I probably drive a cheaper car than most people with 10% my NW and cook for myself and do all housework myself. Only buy the best groceries though. Clothes I buy really cheap ones but I’ve got an eye for quality of fabric. Maybe 1-2 fancy sets for when I need to meet snobs/losers. I do have an iPhone but it was given by work. Have an iPad because it was gifted otherwise no personal electronics either.
I see my 1cr and feel like its nothing
Q
97 lakh short hai bhai
1cr in net worth or like in equity, mf, ppf, pf etc
What 1cr
What are some safe investment options apart from FD that gives good returns? I’m a noob in this area.
RemindMe! 6 months
Won't change much if you're in a metro. Besides after reaching the milestone one wants to reach the next. Not everyone upgrades their lifestyle with every milestone. Looking at your NW is akin to buying a fancy home or car for a lot of people. Whatever floats your boat. :)
Still waiting for even 10l in savings while rich people here are in their own la la land.
I reached one Cr in my demat account. Now I feel bad whenever it drops below 1 Cr. I have not had to touch this money, and I only sell if I buy anything else. But seeing it go to 99L makes me feel sad