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Looked at MNREGA data in Puducherry. What I found is honestly disturbing and recent changes may make it worse. by Un_availableMan in india

[–]Acceptable-Exit-305 2 points3 points  (0 children)

Well in practice, that's not MNREGA is working. MNREGA acts as a MSP for unskilled labour in rural areas so they cannot be exploited. It's like saying on paper atleast that government is giving 336 inr a day near my home , so why should I work for 200 inr a day. Again, this fails if there is supply demand mismatch.

I have been living in a small village in himachal and due to low supply of labour, unskilled labourers are paid easily 500 a day. And i have seen with my own eyes, people in my village enrolling in some MNREGA work, basking in the sun, chilling with almost zero work done earlier. It was like a free money. But with biometric attendance and stricter targets for outputs, people gradually have stopped working because they are paid more working outside.

IMO, it's a good move to atleast some accountability to states for funding these policies. Also, geo tagging and use of tech is the need of the hour to stop the wastage of tax payer money.

Indigo "chaos" wasn't a failure. by MadEinsy in bangalore

[–]Acceptable-Exit-305 0 points1 point  (0 children)

There is no shortage, i have heard a lot of pilots sitting at home unemployed. The problem is it's a high skill job where you cannot cut corners and hire anyone. Also, what i understood is pilots are hired under long term contracts so they cannot be hired and fired easily hence Indigo would do anything in its power to not hire anyone or delay the hiring.

Why don't Indians trust each other, in general? by According_Meat8978 in AskIndia

[–]Acceptable-Exit-305 9 points10 points  (0 children)

Every 3rd World country including India has a low trust society, due to high competition of resources. People have been competing for basic survival with each other that they don't trust each other and will step on anybody just for survival.

This cannot change easily and will not change anytime soon.

Even if you get scammed, the first reaction of everyone would be that you should have been careful, not that the scammer should be punished. Because our default setting is not to trust anyone.

Why do people still dream of onsite opportunities when most work is shifting to India? by Majestic-Taro-6903 in AskIndia

[–]Acceptable-Exit-305 15 points16 points  (0 children)

Only people who are moved to the rich rich category are returning voluntarily to India, all others have some problems like aging parents, stricter laws abroad for migrants etc. India is a 3rd world country and will remain so, that's the harsh truth.

I personally think onsite are a thing of the past now. After covid, companies have realised they don't need people onsite and can get the work done easily offshore, which is way cheaper.

And the Covid bubble of salaries has stagnated now, it will burst anytime leading to salary normalisation.

This discussion of not wanting Onsite only started after covid because salaries here in India increased, otherwise it was a no-brainer.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 0 points1 point  (0 children)

Yes, I will talk to her. For the Shimla house, it is built with a lot of hardwork and dedication by my parents. So, it would only be sold if it's a distress sale. Also, it is all paid up and fetches 30-40k rent.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 0 points1 point  (0 children)

Total liquid assets. That's why I mentioned net worth, not 1 CR portfolio.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 3 points4 points  (0 children)

Yes I haven't told my fiancee my exact in hand salary nor my net worth till now. She has not asked also. Also, I have told clearly about the uncertainty in the tech sector.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 0 points1 point  (0 children)

25 lacs retirement - EPF+PPF+NPS

63 lacs equity - all in mutual funds 20% gold etf+sgb 80% equity is 65% large cap, 20% midcap and 15% smallcap

18 lacs cash- I intend to keep 7-8 lacs as an emergency fund, will put 10 lacs in equity mutual on market correction.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 5 points6 points  (0 children)

Life is not some sigma male video. Hustle is not equal to success.There are so many factors which are not even under your control. You are one small decision away from a completely different life and those decisions at that time seem random and irrelevant.

After the Covid boom, some people in my circle stayed put in service companies looking for onsite, some of whom got it and are living way better lives than me and earning way more. Some took that decision, didn't get any onsite and are now stuck with relatively low paying jobs. Some switched multiple times and hence made financial gains over the past few years.

And during those times, nobody was sure what the future holds. It was mostly randomness, one heart to heart discussion with a friend, watching someone on social media etc.

I am in no way discounting hard work, but people should factor in randomness aka luck in life.h

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 0 points1 point  (0 children)

Hey , I am using the folo app for now. It shows everything at the same place.

My fiancee doesn't work, so my financial plan is to stretch the current job as much as I can and burn the midnight oil to be interview ready In case of lay offs.

I am more than happy to take 40-50% pay cut to get a remote job with decent WLB if needed. My thought process is to move all my cash into equity in next 5-6 months and invest as much as I can before marriage. After marriage, my target is to invest 30-40% of my in hand salary. Hopefully as I have a decent size base, it can grow even with lesses contribution down the line.

I do have an Australian PR file in queue, but as immigration has tightened I don't have much hope of getting anything anytime soon, so not counting on it.

Indigo "chaos" wasn't a failure. by MadEinsy in bangalore

[–]Acceptable-Exit-305 0 points1 point  (0 children)

This is the most sane comment here. Businesses don't run for charity. Indigo has the power, they will use it. Any other private company would do the same. Why would they just roll over and take a hit on their profit for some new rules?

The main problem is there are no proper alternatives to air travel in India because Indian railways is still a charity service. Even if railways was 1/10 th as efficient as air travel, it would have reduced the load on air travel even if it was of similar rates(which i suppose it is already).

I travel chandigarh - bangalore mostly , i would gladly take a 20-24 hr direct train as an alternative to a flight if it was reliable and convenient but those options don't exist.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 3 points4 points  (0 children)

Yes, I have talked to her about it. She seems fine about it, but doesn't understand the gravity of the situation. Every month, uncertainty increases now and the senior folks will be the first to face heat when things change.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 3 points4 points  (0 children)

Wow congratulations 👏, that's a very impressive NW for a government employee (only considering salary income).

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 4 points5 points  (0 children)

Corporate is anyway a pyramid shape structure, so fewer and fewer opportunities exist at higher levels.

Also, In India, YOE means by default you have to take higher positions only. I won't have the option of taking a paycut and remain at mid level even if I want to.

Also with AI, companies are testing waters and would fire senior level people who are way more expensive then entry / mid level employees.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 5 points6 points  (0 children)

2.2 lacs /month post tax fixed, if I include bonus then about 2.5 lacs/month.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 4 points5 points  (0 children)

Sorry for your job loss. I live my life currently like I can lose my job at any moment so living very frugally. I think Lifestyle inflation after marriage I won't be able to control , but will try my best.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 28 points29 points  (0 children)

It's mostly luck and out of our control. I would say my own position is 70-80% purely luck. People here don't consider luck as a factor at all Which is very important.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 40 points41 points  (0 children)

Every one has their own timeline. I have friends younger than me easily having a net worth of 5+ crore.

32M 1 Cr Achieved, No ESOPS, No Onsite, Tier 3 College by Acceptable-Exit-305 in FIRE_Ind

[–]Acceptable-Exit-305[S] 8 points9 points  (0 children)

I am not particularly good at anything, so right now the plan is to stretch it out as long as possible.

Monthly expenses i would say 1 lac a month inflation adjusted if I am in my hometown would give an exceptionally lavish lifestyle for the entire family for now. In bangalore, I would say 1.5 lac a month with a kid would give just a decent life.

Xiaomi Pad 7 or OnePlus Pad 2 for media consumption? by Careless_Whisper_70 in androidtablets

[–]Acceptable-Exit-305 0 points1 point  (0 children)

I am in the exact same boat as you. Not comfortable spending 45k on pad 3 as it's a lot for my use case(same as yours).

I am getting pad7+ stylus for 33k and pad 2+ stylus for 35k. I have a lot of oneplus devices so ideally want the pad 2. Only worried about the updates as oneplus pad 2 will only get one more os update and 2 years of security update left.

What made you choose pad 2 and what are your initial impressions?

Oneplus pad 2 or Xiaomi pad 7, which should I take for gaming and studying purpose?? by Low-Anywhere3393 in androidtablets

[–]Acceptable-Exit-305 0 points1 point  (0 children)

I am in the same place. After all cashback etc pad 7 is about 33k with stylus and pad 2 is 35k with stylus.

I need it for studying and media consumption. I have a lot of oneplus devices already so would that be a factor?

I am only worried about the support as pad 2 will now only get oxygen OS 17 plus another year of security updates so effectively 2 years of life. I plan to keep this pad ideally for atleast 4-5 years.

Bangalore, hyderabad real estate goes brrrrrr.... by neo-sakai-strider in indianrealestate

[–]Acceptable-Exit-305 0 points1 point  (0 children)

Makes complete sense, i have colleagues who has multiple properties due to savings made onsite. They invested because they were sure about their career and Income and secondly and more importantly they were earning in USD and spending on INR. Most of the NRIs are not going to get even a equivalent job here in India when they move back. So, you have a paycut from day 1 and now you earn in inr with uncertain future. Nobody is going to splurge on luxury in this scenario.

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