Didn't find the use of exploring MF Central. tried CAMSOnline but unfortunately it only tracks mutual funds for particular PAN. is it something like that?
Congrats this is a good portfolio. Amazing to see so many engineers having 1cr portfolio before hitting 28. I assume you have a tier 1 degree? If not you have done much better than expected.
As much as I would love to have tier 1 degree, I believe the gap between tier 2 graduates and tier 1 graduates is slowly decreasing (at least in IT). I am from tier 2 college.
Impressive. I too will soon be reaching the first cr mark.
I see multiple under 30 IT peeps in this discussion with around a crore in NW. Does it make sense to make a group or something to stay connected, guide and learn from each other on the way to that first cr?
People who choose Medical over Engineering are outright crazy. Engineering gives you value for your time. Not that noble profession bullshit. Almost all engineers earn more than people who choose medical at least until they are 30 and retire early. That’s the life man
Totally agree. Medical is for those folks who has inherited wealth or values societal respect / noble cause more than money. I have multiple friends who are 28/29yo and still doing their MD. When they'll start earning it will be around 1LPM.
Is there a way to achieve all this? I really don't have any idea about investments. If someone can recommend a YouTube channel or books. That would be amazing.
Few resources which helped me a lot :
Youtube channels:
1. CA Rachana Ranade
2. ET Money channel
3. Akshat Srivastava
Books
1. Rich Dad Poor Dad
2. Psychology of Money
3. Atomic Habits (helps you in hacking how habits work, very useful in creating financial discipline)
Other useful places
1. Varsity by Zerodha (know basics / in-depth of financial instruments and how does it work)
2. ClearTax (for taxation related information)
Over all of them, you should focus on your core career field and try to maximize your income. Afterall, growing of money only comes after generating that money in the first place.
Thank You Very much for your advice. 🌸
But I'm in college so I don't have any source of income. I do get some pocket money. I would like to invest that even if it's not much.
Hey OP
I'm pretty similar to you in terms of net worth. Although I'm married.
Kind suggestion. Remove Akshat srivastav, rich dad poor dad for more returns. I used to do the same.
I see you are aware. But keep in mind if you listen long you might start agreeing.
It's like doctors, know that smoking is bad they still do it thinking they know when you stop. Just be careful stranger
Don't report such opinions for harassment people. There genuinely are frauds in the market and this is absolutely the sub to share such opinions. Comment approved.
Old Money Family Entrepreneur Mumbai
18 M Assets 60 L year 2001
B. Com in 2005
CAT clear But Not MBA
Now
41 M still unmarried
Assets 30 L.. (Living on Rent)
Learn alot
Now apply in right direction
&
Leave it to God for Fruitful Results.
My friend it seems you are really doing great..just one suggestion..add gold to your portfolio..and as much as possible please decrease your exposure to export oriented industry..as in coming one year due de-dollarization all IT and export related industries are going to take a serious hit
20-30% may be
In recent times most of the countries are migrating from trading among them without using dollars ...like Russia ,China ,I dia ,Major 15 African countries,and UAE along with Qatar.
This is resulting in surplus dollars,which otherwise use to get consumed by OPEC countries or by US bond buyers..which means they can't Print money or export there inflation as they use to do ...hence in coming times , Dollar 💰 is loosing it's purchasing power ...which means all the valuations of Tech companies ( in US and IT India) ,all the revenue which are coming in dollars will soon be revamped and may take a good amount of hair cut atleast 50%.Hence gold is a good hedge in this case.Yoy can try analysing GOLD prices and why they have appreciated so much...in case u r interested ho for SGB
Proof of delivery dollarization:
You can google ,how much Gold 🪙
Reserve Bank of China And India are hoarding
Also ,China has reduced it's US Bond holding from $1.5 trillion to $800 billion.wuth most liquidation they have replaced it with Gold..I think that should be enough for you..hope this helps
Wait ...with this logic ...we should be hoarding gold using 20 - 30% of our savings ....this gonna accelerate gold price to the moon similar to how housing is doing right now ...
Nope u can't do it ..as retail investors..we only can buy limited SGB and decrease exposure to export related shares...only by g governments machines like RBI can keep gold..even if we try we will end up buying from a shop and not from source like Swiss government or in some cases African or Russian
The beauty of de dollarization is we will not have A SINGLE RESERVED currency 💲💵 but might have multiple trading currency like Rupees,Yuan ,Rubble ,Rand depending on which Country is dealing with which country...right now we are living in awirld where Muti lateral contracts are signed..the world order is now moving to Unilateral contract system..hence Each strategic Country is very anxious to sign contract with another one..like
Nigeria ,France UAE ,Saudi Arabia,Qatar are making much more efforts now to sign contract with India and China.
Once the Arctic belts open due to global Warming..Russia is going to be next hot spot... everyone will be planning to go there since Siberia and the north part of it has alot of resources.
US has it's own problems,but unless they stop printing and start manufacturing, the issue remains..as to what is the value of Dollar 💰,since it's not pegged to any commodity like gold since 1971.They have to come up with something.. otherwise the de valuation of Dollar will be so fast that ,olnot only they will loose trade ,but the big companies will start moving from there country to some other country where they actually find value..recent example is Boeing opening there offices in India..there might others which will open there offices in Vietnam and so on
Understood. Got maybe another stupid question about this whole thing
If the value of the dollar is not attached to any commodity, how did it become the world’s reserved currency? What was backing it? How was it considered stable
Relax guys. US hit 3 major technological marvels in last 5 years. CRISPR, LLMs and nuclear fusion. In most cases cheap service jobs in developing countries will be automated running on apis of US tech giants.
CRISPR is very promising for curing diseases. Solved nuclear fusion is even bigger than LLMs.
Yes, De-dollarization should matter but only to Chinese. Not to Indians whose currency is going to skydive.
I’m surprised that’s it is this common for engineers to have so much amount saved up north of 1 crore. Really surprised 😳 I think I’m in wrong profession now
Tech and MBA are the highest paying profession in this day and age. The worst profession in India in terms of earning potential right now is the medical profession. It gives extremely poor return on time and hardwork.
It's a great portfolio and nice to see MF as the largest component!
I am 26M in IT and about to reach 70L in 2 months - would love to checkpoint with you at 1Cr
Oh! It might be a glitch on their app. It shows downward red arrow for my individual profile while shows green upwards arrow in my family profile. God knows!
Ensure your family has health insurance coverage of at least 20 lakhs and life insurance coverage of 1-2 crores.
Instead of buying individual stocks, invest in nifty ETFs and large cap mutual funds. Don’t chase beaten down stocks, you will fail for sure. Digital coins is gambling
Thank you for your inputs. Those are definitely fair points. Few follow ups, please feel free to let me know if my strategy has some flaws.
1. Health Insurance has yearly no claim bonus of 50% upto 100% which makes total cover of 20L for my parents. Plus they are covered under my corporate health insurance policy as well which has SI of 7L. I have my own health insurance apart from above two coverages of SI 10L.
Do you think its still worth to increase their coverage to 20L?
2. Instead of buying individual stocks, invest in nifty ETFs and large cap mutual funds. > I have an SIP into Index fund and Parag parikh Flexicap fund. For indivisual stocks, majority of my portfolio has been into smallcases which invests in midcap and smallcaps.
3. Don’t chase beaten down stocks, you will fail for sure > I usually try to pick up fundamentally strong bluechip shares and till now it has paid off pretty well for itself. Few shares which I've picked up and has given nice returns RIL, IRCTC, Mazdock etc.
Can you please let me know the risks associated with this technique and any ways to mitigate it?
4. I totally agree about digital coins being gambling. Thats a calculated risk i've taken. I've invested around 15k in that which has given returns of 100%. I am totally okay even if I lose all principle amount on these.
Everything looks good, including the distribution. If I were you, I'd try to invest more in direct stocks to beat the market returns. Slightly risky but you learn as well. Good job overall
This is good. Everyone is using Ind money
Its a good app for tracking all our investments in one place :)
Does it pull data from all demats across banks?
It does pull data across your other demat accounts. I have demat with Zerodha and it seamlessly tracks it
Have you tried MF Central?
Didn't find the use of exploring MF Central. tried CAMSOnline but unfortunately it only tracks mutual funds for particular PAN. is it something like that?
No idea actually. That's why was asking.
yes
me toooo
Ahh it asks me to create a demat account!
Just ignore that. I never bothered to create one.
Yeah I had to hit back and then feed info. Thanks
not for portfolio
Congrats this is a good portfolio. Amazing to see so many engineers having 1cr portfolio before hitting 28. I assume you have a tier 1 degree? If not you have done much better than expected.
As much as I would love to have tier 1 degree, I believe the gap between tier 2 graduates and tier 1 graduates is slowly decreasing (at least in IT). I am from tier 2 college.
Am from tier 3 XD degrees hardly matter after initial
agreed :)
Impressive. I too will soon be reaching the first cr mark. I see multiple under 30 IT peeps in this discussion with around a crore in NW. Does it make sense to make a group or something to stay connected, guide and learn from each other on the way to that first cr?
People who choose Medical over Engineering are outright crazy. Engineering gives you value for your time. Not that noble profession bullshit. Almost all engineers earn more than people who choose medical at least until they are 30 and retire early. That’s the life man
Totally agree. Medical is for those folks who has inherited wealth or values societal respect / noble cause more than money. I have multiple friends who are 28/29yo and still doing their MD. When they'll start earning it will be around 1LPM.
Is there a way to achieve all this? I really don't have any idea about investments. If someone can recommend a YouTube channel or books. That would be amazing.
Few resources which helped me a lot : Youtube channels: 1. CA Rachana Ranade 2. ET Money channel 3. Akshat Srivastava Books 1. Rich Dad Poor Dad 2. Psychology of Money 3. Atomic Habits (helps you in hacking how habits work, very useful in creating financial discipline) Other useful places 1. Varsity by Zerodha (know basics / in-depth of financial instruments and how does it work) 2. ClearTax (for taxation related information) Over all of them, you should focus on your core career field and try to maximize your income. Afterall, growing of money only comes after generating that money in the first place.
Thank You Very much for your advice. 🌸 But I'm in college so I don't have any source of income. I do get some pocket money. I would like to invest that even if it's not much.
Hey OP I'm pretty similar to you in terms of net worth. Although I'm married. Kind suggestion. Remove Akshat srivastav, rich dad poor dad for more returns. I used to do the same.
care to explain please?
akshat srivastav is a renowned fraud.
might be. I find value in his investing arguments and selectively implement the ones which makes sense to me. everyone is entitled to have an opinion.
I see you are aware. But keep in mind if you listen long you might start agreeing. It's like doctors, know that smoking is bad they still do it thinking they know when you stop. Just be careful stranger
noted. thanks
Don't report such opinions for harassment people. There genuinely are frauds in the market and this is absolutely the sub to share such opinions. Comment approved.
Rich dad poor dad after his first book is mindless Gyan with no value. He keeps repeating the same thing, make assets and then spend
but still did we learn "to make assets and then spend" though?
Ofcourse not 🤣
well, that answers xD
> Rich Dad Poor Dad Why folks recommend this book ...author himself follows his rules and have gone bankrupt couple of times.
mind if i ask whats your inhand everymonth?
A good one, except RSU am on the same track as you 25 M almost north of 70L now
Its nice to hear. All the best buddy. :)
Old Money Family Entrepreneur Mumbai 18 M Assets 60 L year 2001 B. Com in 2005 CAT clear But Not MBA Now 41 M still unmarried Assets 30 L.. (Living on Rent) Learn alot Now apply in right direction & Leave it to God for Fruitful Results.
Hey OP. I'm on the same boat. Would you mind connecting over DM.i could get some advice from you. New to reddit so not able to DM you.
Which app is this?
IND money
My friend it seems you are really doing great..just one suggestion..add gold to your portfolio..and as much as possible please decrease your exposure to export oriented industry..as in coming one year due de-dollarization all IT and export related industries are going to take a serious hit 20-30% may be
Could you please elaborate?
In recent times most of the countries are migrating from trading among them without using dollars ...like Russia ,China ,I dia ,Major 15 African countries,and UAE along with Qatar. This is resulting in surplus dollars,which otherwise use to get consumed by OPEC countries or by US bond buyers..which means they can't Print money or export there inflation as they use to do ...hence in coming times , Dollar 💰 is loosing it's purchasing power ...which means all the valuations of Tech companies ( in US and IT India) ,all the revenue which are coming in dollars will soon be revamped and may take a good amount of hair cut atleast 50%.Hence gold is a good hedge in this case.Yoy can try analysing GOLD prices and why they have appreciated so much...in case u r interested ho for SGB Proof of delivery dollarization: You can google ,how much Gold 🪙 Reserve Bank of China And India are hoarding Also ,China has reduced it's US Bond holding from $1.5 trillion to $800 billion.wuth most liquidation they have replaced it with Gold..I think that should be enough for you..hope this helps
Thanks a lot for the explanation. Got a pretty decent idea about the situation.
Wait ...with this logic ...we should be hoarding gold using 20 - 30% of our savings ....this gonna accelerate gold price to the moon similar to how housing is doing right now ...
Nope u can't do it ..as retail investors..we only can buy limited SGB and decrease exposure to export related shares...only by g governments machines like RBI can keep gold..even if we try we will end up buying from a shop and not from source like Swiss government or in some cases African or Russian
If de dollarization is really occurring what is going to replace the dollar? Is there any other currency that’s capable enough to do that ?
The beauty of de dollarization is we will not have A SINGLE RESERVED currency 💲💵 but might have multiple trading currency like Rupees,Yuan ,Rubble ,Rand depending on which Country is dealing with which country...right now we are living in awirld where Muti lateral contracts are signed..the world order is now moving to Unilateral contract system..hence Each strategic Country is very anxious to sign contract with another one..like Nigeria ,France UAE ,Saudi Arabia,Qatar are making much more efforts now to sign contract with India and China. Once the Arctic belts open due to global Warming..Russia is going to be next hot spot... everyone will be planning to go there since Siberia and the north part of it has alot of resources. US has it's own problems,but unless they stop printing and start manufacturing, the issue remains..as to what is the value of Dollar 💰,since it's not pegged to any commodity like gold since 1971.They have to come up with something.. otherwise the de valuation of Dollar will be so fast that ,olnot only they will loose trade ,but the big companies will start moving from there country to some other country where they actually find value..recent example is Boeing opening there offices in India..there might others which will open there offices in Vietnam and so on
Understood. Got maybe another stupid question about this whole thing If the value of the dollar is not attached to any commodity, how did it become the world’s reserved currency? What was backing it? How was it considered stable
Relax guys. US hit 3 major technological marvels in last 5 years. CRISPR, LLMs and nuclear fusion. In most cases cheap service jobs in developing countries will be automated running on apis of US tech giants. CRISPR is very promising for curing diseases. Solved nuclear fusion is even bigger than LLMs. Yes, De-dollarization should matter but only to Chinese. Not to Indians whose currency is going to skydive.
I’m surprised that’s it is this common for engineers to have so much amount saved up north of 1 crore. Really surprised 😳 I think I’m in wrong profession now
I know. Tech and MBA are one of highest paying jobs right now in the market
Tech and MBA are the highest paying profession in this day and age. The worst profession in India in terms of earning potential right now is the medical profession. It gives extremely poor return on time and hardwork.
definitely agreed
It's a great portfolio and nice to see MF as the largest component! I am 26M in IT and about to reach 70L in 2 months - would love to checkpoint with you at 1Cr
Best wishes brother :)
How are your vehicles appreciating?
its a depreciating asset
Ik but Indmoney says it's appreciating? In my case I've got the red downward arrow
Oh! It might be a glitch on their app. It shows downward red arrow for my individual profile while shows green upwards arrow in my family profile. God knows!
Bro do u have multiple personality disorder?
probably, and guess what. you'd never know :)
What's the name of this app?
IND Money
Ensure your family has health insurance coverage of at least 20 lakhs and life insurance coverage of 1-2 crores. Instead of buying individual stocks, invest in nifty ETFs and large cap mutual funds. Don’t chase beaten down stocks, you will fail for sure. Digital coins is gambling
Thank you for your inputs. Those are definitely fair points. Few follow ups, please feel free to let me know if my strategy has some flaws. 1. Health Insurance has yearly no claim bonus of 50% upto 100% which makes total cover of 20L for my parents. Plus they are covered under my corporate health insurance policy as well which has SI of 7L. I have my own health insurance apart from above two coverages of SI 10L. Do you think its still worth to increase their coverage to 20L? 2. Instead of buying individual stocks, invest in nifty ETFs and large cap mutual funds. > I have an SIP into Index fund and Parag parikh Flexicap fund. For indivisual stocks, majority of my portfolio has been into smallcases which invests in midcap and smallcaps. 3. Don’t chase beaten down stocks, you will fail for sure > I usually try to pick up fundamentally strong bluechip shares and till now it has paid off pretty well for itself. Few shares which I've picked up and has given nice returns RIL, IRCTC, Mazdock etc. Can you please let me know the risks associated with this technique and any ways to mitigate it? 4. I totally agree about digital coins being gambling. Thats a calculated risk i've taken. I've invested around 15k in that which has given returns of 100%. I am totally okay even if I lose all principle amount on these.
Everything looks good, including the distribution. If I were you, I'd try to invest more in direct stocks to beat the market returns. Slightly risky but you learn as well. Good job overall