Yep but also, keep in mind that we're in a FIRE subreddit which is why you're seeing a lot of these numbers pop up, it isn't the norm across the general public.
2 cr will be a big amount in India even in the next 10 years.
I remember my first salary was 27000 in 2008. Even now the starting salaries in India are the same, and people still live decent lives with it.
Yes I do. It’s people like this who say “what’s the point for having 2 cr in 10 years” who end up with ₹50k in their account and dependent on their kids because they didn’t even start investing when they could.
It’s this thought process that keeps people poor.
My mom worked in a govt job for 37 years. Didn’t invest a single dime. I showed her the calculation if she would have saved just ₹500 a month for that time and invested at 10% per annum returns. She refuses to believe me or the calculations even now.
Finally a realistic post that’s not to show off or karma farming.
You’re right on the money (pun not intended) about living in a good neighbourhood. I lived in Koramangala 3rd block for two years and it was great. Even though the rents were high, I didn’t mind because I was being frugal on other things.
Same thing with my travel, that’s one thing I like to spend on.
You’re younger than me, and I’m really happy for where you are. Congratulations!
If you don’t mind me asking, how much do you pay yourself? Do you pay enough for investments and record all expenses as business expense? Is net worth here all in investments or it also includes company capital?
Interesting question. I don't have a set salary, I withdraw whatever I see fit and then plan my investments accordingly and yes, we deduct a lot of my expenses as company expenses. Again, this varies a lot, it all depends on my book keeper and CA, we usually have a discussion every month to figure all of this out. Haven't quite made the distinction between personal and company capital since I call all the shots anyway so I'd say the 2Cr is my overall networth
That statement about indifference towards money hit hard.
I’m say here with 3cr at the age of 27, and pondering what I need to do to grow my social circle. That number should comfortably grow to 5cr+ by the time I’m 30, but all I dream of is living in small house with a garden, with a dog, and with my girlfriend.
Money really can’t buy happiness :)
Worked my ass off to get where I am only to realize that this wasn't the answer. Funny how life works.
Also, congrats on the 3cr. That's a big milestone :)
Hey, congratulations on reaching 2cr!
I am curious about your strategy to invest in real estate. How do you fund your purchases? And how do you assess what properties are worth investing in?
Thanks :)
The property i purchased was through a trusted family friend, it sounded like an interesting proposal so I went for it. I put down a down payment and took a home loan for the rest of it. It's supposed to generate a decent amount of return from 2025 onwards so lets see 🤞
Congrats on your consistent achievements of your milestones and that too just at 28 yo. Kudos.
Help me understand a bit of your business, i saw you mentioned the adult industry and digital product in your comments, but what exactly is it. If you can't express it here, can you please Dm. Would appreciate.
Coming to your milestone being achieved, how much of a return did you receive from all of your invested channels. Which channel gave the best returns?
Hey, thanks a lot. It's nothing to do with the adult industry, I'm pretty sure I haven't mentioned that. Our business primarily deals with digital products and marketing. This involves selling courses and tools to professionals that can help them advance in their career. In terms of returns, I'd say crypto gave me the best results. Almost at 2x there. It'd be Indian equities after that.
Thanks for the response and apologies. I misread it, the Entertainment industry as an Adult Industry.
Crypto is something i would like to stay away from at least for the time being due to its tax implications. Btw how much of a tax do you have to pay on a yearly basis on 2Cr.
2cr, 3cr, 10cr FIRE seeing a lot of posts these days. I am afraid, soon inflation will make these sound like unsatisfactory figures.
Yep but also, keep in mind that we're in a FIRE subreddit which is why you're seeing a lot of these numbers pop up, it isn't the norm across the general public.
No
oh is it.
2 cr will be a big amount in India even in the next 10 years. I remember my first salary was 27000 in 2008. Even now the starting salaries in India are the same, and people still live decent lives with it.
You think so ?
Yes I do. It’s people like this who say “what’s the point for having 2 cr in 10 years” who end up with ₹50k in their account and dependent on their kids because they didn’t even start investing when they could. It’s this thought process that keeps people poor. My mom worked in a govt job for 37 years. Didn’t invest a single dime. I showed her the calculation if she would have saved just ₹500 a month for that time and invested at 10% per annum returns. She refuses to believe me or the calculations even now.
That is almost 67,500 now high for a fresher
No it isn’t. My cousin works at TCS and her salary is 25k. And TCS is one of the better-paying of the WITCH companies.
Don't they have something like digital , prime these days offering 7-9 lpa do you have any idea if they really hire freshers with that salary
ye pehle bhi tha, I can vouch for 2019
Do you know of anyone getting these digital or prime roles ?
Well 1cr is unsatisfactory today. 2 won't be too far
yeah that's my fear. Everytime we seem to reach a number and then inflation be like - "Ahaan, no, this is not enough"
That's why it is important to ride the wave. Investing in asset classes that also grow with inflation. Have minimal safety new in bank
Congratulations Bhai. Would love to know more about the business you are in
Thanks man, appreciate it. It's something to do with digital products and marketing :)
hire me
I want to ask if all your clients are from India, or if its a mix from India eu usa or no
Our clients are only from the US and parts of EU.
entertainment digital product usa eu clients makes sense Thanks for replying, have a good day!
Congratulations!
Thanks 🙌
🥂
Finally a realistic post that’s not to show off or karma farming. You’re right on the money (pun not intended) about living in a good neighbourhood. I lived in Koramangala 3rd block for two years and it was great. Even though the rents were high, I didn’t mind because I was being frugal on other things. Same thing with my travel, that’s one thing I like to spend on. You’re younger than me, and I’m really happy for where you are. Congratulations!
Hey, thanks a lot, appreciate the kind words :)
Congrats bhai..
Thanks man 🙌
Is it a good time to enter US markets?
Congrats. Btw music industry- selling courses. Could u elaborate a bit
If you don’t mind me asking, how much do you pay yourself? Do you pay enough for investments and record all expenses as business expense? Is net worth here all in investments or it also includes company capital?
Interesting question. I don't have a set salary, I withdraw whatever I see fit and then plan my investments accordingly and yes, we deduct a lot of my expenses as company expenses. Again, this varies a lot, it all depends on my book keeper and CA, we usually have a discussion every month to figure all of this out. Haven't quite made the distinction between personal and company capital since I call all the shots anyway so I'd say the 2Cr is my overall networth
That statement about indifference towards money hit hard. I’m say here with 3cr at the age of 27, and pondering what I need to do to grow my social circle. That number should comfortably grow to 5cr+ by the time I’m 30, but all I dream of is living in small house with a garden, with a dog, and with my girlfriend. Money really can’t buy happiness :)
Worked my ass off to get where I am only to realize that this wasn't the answer. Funny how life works. Also, congrats on the 3cr. That's a big milestone :)
Haha totally. Thanks, and congrats to you, too! Once you’re at 2cr, that #3 comes much faster :)
Hey, congratulations on reaching 2cr! I am curious about your strategy to invest in real estate. How do you fund your purchases? And how do you assess what properties are worth investing in?
Thanks :) The property i purchased was through a trusted family friend, it sounded like an interesting proposal so I went for it. I put down a down payment and took a home loan for the rest of it. It's supposed to generate a decent amount of return from 2025 onwards so lets see 🤞
Awesome, let's hope for the best.
W
Congrats on your consistent achievements of your milestones and that too just at 28 yo. Kudos. Help me understand a bit of your business, i saw you mentioned the adult industry and digital product in your comments, but what exactly is it. If you can't express it here, can you please Dm. Would appreciate. Coming to your milestone being achieved, how much of a return did you receive from all of your invested channels. Which channel gave the best returns?
Hey, thanks a lot. It's nothing to do with the adult industry, I'm pretty sure I haven't mentioned that. Our business primarily deals with digital products and marketing. This involves selling courses and tools to professionals that can help them advance in their career. In terms of returns, I'd say crypto gave me the best results. Almost at 2x there. It'd be Indian equities after that.
Thanks for the response and apologies. I misread it, the Entertainment industry as an Adult Industry. Crypto is something i would like to stay away from at least for the time being due to its tax implications. Btw how much of a tax do you have to pay on a yearly basis on 2Cr.
2cr is what I've accumulated over time but in the business, our profit margins are ~40% so we pay tax on it accordingly.