Posted On
10/16/2020
6:24:15 PM
by
QQ
Dear, great achievement. Do you have any income from any of the above investments? Those 2FDs are ok, good enough for future emergencies. How about the income from those properties? If you have enough money for your daily life in India, means you''re a well settled man. If not make an investment for a minimum of 50k to 70k per month.Stop worrying and thank to God for what you have now.
|
Posted On
10/16/2020
6:49:48 PM
by
Azeem
You did not mentioned your age but I am assuming between 35-40.I am 34 years old. Worked for 10 years.
Presently, my break up is as follows:
Around INR 16 lakh in PF (I will not touch this amount till retirement)
INR 2 lakh in PPF (15 years lock in)
INR 9 lakh in pension fund (Can touch only after retirement)
INR 2 lakh in FD (Emergency Fund)
INR 1 lakh in savings (Day to day expenses)
That sums up to INR 30 lakh in liquid assets which is not much considering that i have worked my ass off for 10 long years. If you spend lavishly, you will save nothing. If you spend responsibly, then just see the power of compounding.
Other assets:
INR 7 lakh car (loan fully paid)
Flat (Present loan outstanding about INR 15 lakh).
Hence, present liabilities: Rs 15 lakh
Thus, 30 lakh liquid assets minus 15 lakh liabilities i.e Presently I have 15 lakh INR (If i repay my loan with my funds). I consider myself lucky that I am not in the negative zone
Now you decide who is in better position.
|
Posted On
10/16/2020
9:57:24 PM
by
Ajnabi
I spent 20 years in Kuwait and If I calculate all my assets it won''t be more than 1 crore. I don''t have any regrets but I am happy that I fulfilled all my responsibility ( siblings studies, sister marriage etc)
I am only worried how will I survive in India with just 1cr assets in hand if I have to.
|
Posted On
10/17/2020
12:13:03 AM
by
Indian
The most important thing is we should Thank GOD that we are alive. We have become greedy for money and Wants never end even if u have 10 crores. Greediness is giving us diseases which is worst then having money. So count everyday as a blessing.
|
Posted On
10/17/2020
12:17:10 AM
by
Advisor
@Indian preaching is good but it won''t fill ur and ur loved ones stomach. For that we need money and to fullfill all their dreams you need lots of money. Try to live here without money and see what happens.
|
Posted On
10/17/2020
1:39:05 AM
by
Me
So how many years did you spend working? That seems like quite a bit of savings you got there.
60lakhs would easily generate 30k per month, which would be enough to live hand to mouth for 2 people in India, depending on which city you live in.
Given present situation of real estate in India and the present earnings of expats in kuwait, it becomes impossible to own a flat in a decent location in India.
I''ve been working for about 8 years and have just saved up about 26 lakh. I''m living a pretty frugal lifestyle in Kuwait, but of course, not compromising on comforts.
I really doubt if I will be able to reach a savings of 1cr in the next 10-15 years, as I have to start a family, and assuming a yearly increment of 10%, I might just reach 50lakh by the time I''m 35-40.
Investing 26lakh in anything apart from gold and FD is not the wisest thing to do, given present happenings in the country. It is just sitting here in the bank collecting dust.
Any tips what I can do to grow it here in Kuwait?
FDs returns here are pathetic.
|
Posted On
10/17/2020
9:01:43 AM
by
Jeetu
I am a 30 years and 3 days old Indian. I joined my job at the age of 20 and I have now exactly 10 years experience.
I have done the bank transfer of 37 lakhs to my parents account till now. Using that they constructed a 1700 sq foot floor area house at my hometown and utilized some for the sibling education.
I am married and live with a small kid & non working wife.
I have no savings currently :(
I have 10 lakhs in my PF account.
I have 19 lakhs in my NPS account & it''s locked till retirement age.
That is all my savings and I have no plan to buy a land/property as I am comfortable with the rented house at my working city.
I bought a 9.5 lakhs worth of car with ready cash after my savings few 3 years back and I am still using that and I have no plan to change the car aslo because car is not an asset and it is a liability.
Now I am saving towards my sibling marriage and I need a year to save for that.
After that I am planning to start my own savings. Let us see how my life after a year.
With my current situation I can not even face the medical emergencies that is why I have taken 10 lakhs health insurance as well for my parents andy family.
I have 6 acres of agricultural land, another 13 years old house, a plot current worth of 40 lakhs from my father
|
Posted On
10/17/2020
12:07:28 PM
by
JOSE
You can invest 50 lakh in mutual fund such as banking and PSU fund that will give you 10% yearly which will be 5 lakh and about 41,666/- per month . I think that is enough for a small family that have their own house to survive . The balance money you can again keep 5 lakh for emergency , rest 45 lakh you can put in various government bonds , govt .treasury , see if you can buy a small plot of land etc.... i think it should be ok to survive. the only thing is that you will have to live a sober life without drinking , partying , over spending ...
|
Posted On
10/17/2020
3:41:50 PM
by
Amit
@Jose I don''t agree puting money in MF is a wise decision. I have made some investment in MF in 2018 since then I don''t see it has gone above 5% profit sometime it goes in negative hence one cannot depend on mutual fund income.
|
Posted On
10/17/2020
4:27:18 PM
by
investor
@Amit- Did you put the money in a mutual fund or in a ULIP scheme (with Insurance)? There used to to be high commission for ULIP earlier, which could have eaten into the profits. Anyway, please advise the exact scheme. While mutual funds sometimes give very poor returns, on a average they do better than bank FD rates. MFs are of different types and the investment should depend on your risk appetite.
|
Posted On
10/17/2020
7:23:29 PM
by
Ji
I agree completely with Amit. Don''t even think about mutual funds. I have personal experience. Moreover I know investment gurus made huge loss from MF''s & stock markets. If you really want to make some profit invest in US stocks.
|
Posted On
10/18/2020
9:17:41 AM
by
Ash
Hello Anonymous,
1st of all , you have achieved pretty good .
about as far as reinvesting matter - don''t invest in mutual funds as of now ( or put small percentage) ..... and invest in varied financial tools instead of one. goal should be steady monthly income.
further , you have not mentioned staying part / rents to be paid monthly .
also as rightly mentioned by someone ... take health insurance for family.
You can start some small startup on your agricultural land to be occupied and for monthly earnings ...
All the best!!
|
Posted On
10/18/2020
9:32:33 AM
by
Clever Ass
Dear,
Start to cultivate something on your agricultural land. In less than 2 years there is going to be severe crisis. At that time if you cannot afford food, it will be catastrophic. Even i too have agricultural land, I have planted tapioca there. It will give me steady food supply for a year during which I can cultivate something else. When food is taken care of, most of your expenses can be fitted into your revenue from your FDs.
Think smart live smart
To others.........no need to cry out how much you have earned or saved. Nothing will be of use if you die today. Stop crying start thinking wise
|
Posted On
10/18/2020
11:24:15 AM
by
Amait
I worked 40 years in kuwait. Children got married. Brought two appartment for children. I build my house. Now I have 50 lakh Rs. in FD. I am leaving kuwait this month. I am going to use my capital money (50 lakh) and live. I am 60 years old. I may live maximum 10-15 years. I think i can survive living with my 50 lakh Rs. I have no experience in investing. If any possibility, I don''t mind investing 25 lakh in some short term investment. Can someone help me. BTW my expected average expense will be 30-40 k monthly. Please advice me.
|
Posted On
10/18/2020
8:34:11 PM
by
indian expat in kuwait
i am in kuwait since 20 years and in late 50s age bracket. from day one i have family. my wife is working. our combined salary was never in 4 digits. i used to work part time to manage expenses. i maintain an average car. have 2 kids. managed to educate them in USA and they are settled (not yet married). suffered a lot financially during my stay in kuwait.
my financial position and assets as below;
1. own flat (loan fully paid). need to pay Rs. 3000 per month as maintenance charges.
2. FD in India- 65 lacs
3. MF investment- Rs 18 lacs till date. investing Rs. 50,000 per month. i take services of a financial planner. i have zero knowledge in investment world.
4. Cash in Kuwait- approx. 20,000 KD (equals Rs. 45 lacs). don''t wish to tell why i keep this much cash in kuwait.
5. Income- getting Rs. 3000 per month as pension from matured LIC pension policy till i die.
since 5 years I was getting 4 digits salary which gave me some financial security and good savings but during the corona period, i was laid off. nowhere to go in this age, i accepted a job which is of not my liking and at 40% of what I used to get. wish to remain in this job for 1 year then go back to india.
expecting to live another 20 years. i spend wisely, need based and tight fisted. looking at the amount that i have, i feel it is not sufficient to live next 20 years. except interest i don''t have any other income. i hear people in kuwait easily made crores of rupees and they are living a very comfortable life.
|
Posted On
10/19/2020
8:39:12 AM
by
js
I think..here people cannot help you much, because few greedy ,few innocent,few time pass,very few share their approach but it may not fit for you. So go to a good financial adviser.Becarefull they are like private doctors. They will try to earn on us,but no option. what i understand from financial advisors is ,,,we have to invest money in different sources like some portion in shares,some portion in mutual funds,govt bonds,fixed deposits ,PPF or NPS ,gold,realestate. Percentages i think finacial advisor suggest you by their experience & they consider your age also and other your liabilty..If not go to you tube gather information for month and invest with your own risk.
|
Posted On
10/19/2020
12:24:09 PM
by
TT
BETTER INVEST IN SHARE MARKET NIFT 50 STOCK ONLY, SWING TRADE OR INTRADAY
|
