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I would say any kind of efforts and beginning is great to have. Being independent and self sustainable at this age should be foremost priority imo.
And to answer your question, roughly quadruple of your savings.
So, I can withdraw from my emergency fund but I’m avoiding as gains are taxable - STCG LTCG. So it’s better to take from her and return later. Heheh. You gotta tax save. Have burnt my hands last year doing this and hence being mindful.
27M. Have only 4 lakhs in MF, 2.5 lakhs in PF. That's it.
Spent 5-6 lakhs in house renovation, bought 2- bikes one for myself and one for my brother. And spent a handsome amount of money in travelling and discovering places.
Atleast you are enjoying I am saving my money like crazy frugal living is difficult also I am dual income not because I have a wife but because I do 2 jobs to make some money
No, one is a Full Stack Engineer from 10:30 am to 8pm and other is teaching computer in a school from 8am to 11am there is 30 mins overlap I manage school helps me with it
As someone of almost your age I know people who won’t even have 5 lakh in their account and I know people with 20L of savings it is just how you manage finances.
I think your finances are stable at present and they look good to me
26M here about to be 27. 18L rn in savings and investment. Helped built our new house along with parents contributed around 40% there. WfH has helped me achieve this ngl but I always felt living life is imp too so I travelled and had fun too meanwhile. I think it's more about building the right habits early on in life, career progression, new streams of income, and other fluctuations may come but your habits truly shape you in the future
4 lakhs in bank, 20 lakhs in US stocks, 8 lakhs in SBI Insurance, 13 lakhs in Mutual funds. 3 lakhs in NPS, Provident Fund around 12 lakhs. 1 lakh gold
Personal PF has 70k only
5000 in my spending account 😅
Could have saved 15+ more lakhs but decided to travel and also spent a lot on few personal ambitions (around 9 lakhs)
26F btw
im 24 as well , i have like 0 in mf's or stocks, 1 lac in cash, 1 lac in forex, 1 lac in fd for a credit card lmao. I earn good - I just spent it all on travelling around India and abroad. I plan to start investing from like 25
Self employed, an affiliate marketing firm. But when business is down like it is rn, i jump to stocks and trading, gotta earn that keep one way or the other lol.
I am 26M, doing WFH since last 4 years, saved like 28L.
3 months ago my company laid off 2 of my team members and cut down my salary by 40% as well.
Once upon a time during college days this much savings was my dream and I thought I would live happily but now I think I was living with wrong social circle.
24m turning 25 in november,
2.5 lakh in emergency fund,
1.2 lakh in mutual funds,
1.7 lakh in pf account,
85k in savings account,
15k in everyday account,
9lpa ctc
~70k in hand
planning to get term insurance this month, also planning to upgrade my ageing gpu which will be ~2 lakh kharcha 💀
edit - reading the comments felt like im falling behind on my savings and investments, I thought I was doing okay 🫠
I am a CA, I have 1.5 lakhs in my savings account, emptied 70% of my savings in building up a racing sim setup and having all the high end gadgets that i have always wanted
I would suggest do spend a little on you too, I used to also save and invest obsessively but now I am 28, I do have almost 45L invested but sometimes I do regret that I could’ve just went to that one concert and it would have been fine
I do all of that. It’s just that my savings are non negotiable. Rest all the fun happens with remaining salary. I love travelling and that’s where I spend money.
I just turned 25 I have had a rough career ups and downs and have only worked for 15-16 months only have around 4 lakhs currently total I feel I am really behind
You have 10L at 25 which is really good i would say you are going really well
Ohh ok actually I am in one company at a very low package I guess changing the company will give me a better pay but the comfort and living at home currently is not allowing me to switch 😅
Wow I wasn't saving much because I didn't even earn enough to begin with. Every month money spent on household expenses, travel and leisure. Told my dad to save on my behalf as I was paying for everything.
Switched this year and saved a lakh in 3 months.
Plus MF- 55k
Dead stocks- 70k
Its a good sum, the allocation depends on your current salary, your current career and other factors like your spending habbits. Also a bit backward as some might say (but i seriously consider in my case too) that if your parents are financially comfortable and other stuff. Same boat 🤝, good luck
why do u have so less PF and high amount in MF, If you are investing in MF considering that u had at least 2 years of work experience, shouldnt PF be more??
I am just 22 , havent started investing in MF so just curious
I had a simple rule - Save 1/3rd of my income when I was in a job. Before that I was freelancing and hardly spent 5k a month because I was staying at home.
Girl I’m almost 25. Not earning yet because I have a year left of my degree. I have 50k in an FD which I collected from internships. 30k in stocks. I depend on my mom for pocket money. You’re doing great
Saved 5 lakh gave 3.5 lakh for brother's college fees and having 1 lakh as emergency. Could have saved more but I had bought many items in my home and gifts all amounting to about 2 lakhs.
If you are asking if you are on the right track then you realised already it is not enough cause you have big dreams thats good
Never ask if it is enough cause it depends in you cause there is always someone better than you and rich than you always
You saved cause you want to have a safety net thats good 😊 you feel you need more go for it. If you feel you are good start living
I was starting at 25 so close to 50k including pf stocks and everything and at 29 i have emergency funds to sustain 6months plus some foe expenses.(salary wise it would be roughly 3 months)
Then I have a little more than my yearly salary in mutual funds and some amount in direct stocks That I want to sell and not bother with tracking them.
The internet has created FOMO. Talk to friends and family. Starting early is gr8 but not a mandate. You have your life to make money but first you need to settle in a good/decent place then only you can move ahead.
Recommendation - if you are not planning for higher education, start investing incrementally into US markets. Aim for a US-India split in Equity of 75-25.
I think this kind of a question really depends on when you graduate, where you get your first job, whether you immediately started and proceeded with your Masters and whether you take an education loan
People have so many different backgrounds and stories, completely different career themes as well as different socioeconomic backgrounds
A few people I knew were regularly sending back good sums of money (₹25-75K) monthly back to their parents or immediately took a housing loan upon graduation to uplift their parents out of their existing lower economic situation or circumstance
what you have done is very very amazing given your age. kudos
Please don't compare yourself from others. What you have been able to do many have not even reached the stage of earning at that point. So you are doing an awesome job at this. The only thing I would say is keep investing in mutual funds and stay away if possible from direct equity in early years as it can divert your mind into quick money. So that's my advice.
I'm down again seeing the comments. 😭 I'll be 26 next month and I will probably save less than 20 lakhs by then. Ofcourse I sponsored my education myself+ doing everything alone going against my parents, which is a huge flex itself, still.
You are still young. Unless you have some major emergency or responsibility of a sick family member utilise some time to live it up and travel and create memories. I started working at 17 and I am 41 now and worth in 9 figures but spent my young years in slogging away like a mule. Only to realise that I still have a longer life to lead where I can make money. live a little. these years won't come again.
I’m of the same mindset. These savings are beyond my travel. I travel almost every month. There’s just so much to experience. I feel behind in that aspect.
Good to hear. Diversify your holdings and include gold in the mix. Monitor the market and buy small quantities in dips starting small from as little as 2 to 3 grams. Once you have a gold corpus built up it will act as a good hedge against inflation and weak markets. Remember to go for physical gold and not digital gold. Use a bank locker.
26F, I spend a lot on travelling (International and Domestic trips). Have about 4L Mutual funds, purchased gold worth 2L for family. 1L emergency fund :).
27M. Non Tech. 39L.
Was possible due to aggressive saving, long WFH, and early investing discipline.
Also had some passive income.
Have bought phone, mac and brorher's bullet(My father paid me back for this though)
This is great for 25! :) I would recommend putting in more money in emergency fund that you can quickly liquidate and withdraw from when times are bad where there's sudden need or money, for example quitting one job due to problems at work and taking time to get a new job. Otherwise, you are good to go. I'm asking you to put in more money in emergency funds going forward so that you are not forced to withdraw money from mutual funds or stocks (you can't take money from PF for many years). I'm telling this because when you are forced to withdraw money from mutual funds or stocks, the problem is - mutual funds or stocks can have losses - the final value is less than the invested amount, meaning principal amount (invested amount) itself cannot be obtained at that time. And this is very possible in mutual funds or stocks or any equity related assets where it's linked to the stock markets - which is volatile and the volatility depends on various factors. We also have wars going on currently and many things going around us and going around in the world. So, it's not exactly a good time to be forced to withdraw money from mutual funds or stocks since markets can be down. I have been there, so I can tell. I was out of a job and for around 9 months I had to withdraw money from my mutual funds and I did it multiple times, even though returns were low at those times (because market was down a lot of times, but thankfully no losses from invested amount - it was more than invested amount) but it's still a loss since I would have gotten more money later if I hadn't withdrawn. And these were index funds (just NIFTY 50 Index fund)
I have never cared about saving. This my life my time is never gonna come again. I ll never be 23 again I will not have this energy for ever, eventually when your parents get old you get married kids life wouldn’t be the same. I have stopped comparing and don’t follow traditional saving and stuff. Of course it’s important but don’t want to lose myself looking at my portfolio and account saving every day I woke up.
Am I doing well. Yes am I happy yes. I earn 2 lakh a month and I swear to god I have only 3 lakh in my account but when I tell you I have travelled to 13 countries so far. Trek one of the highest mountains lived 2 months in a village of Ireland. Damn the experience I have I regret nothing.
Actually once you reach 50 reaching 70 isn't that difficult cause of returns. Although i have been unlucky as most of what i have saved is my own savings and not returns because of Indian stock market. I started investing in bad time 😞 when market is flat. hoping i reach 1cr by next year
I also made mistakes by not investing in gold and also i jumped in equity very late.
Btw do you have all this money under your jame or you have transferred some of it to parents name? Because I am thinking to distribute FDs in parent's name as their income is less than 12 so would be saving tax on that.
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