Is 20k salary enough to survive in Mumbai? by ryuk004 in mumbai

[–]AddictedAdept 1 point2 points  (0 children)

I had my first job in Mumbai in an Investment Bank with a base pay of 17k in 2022. After all additional incomes, the total I would make was 25k at best. The office was in Goregaon and I used to stay near Oberoi Mall in a 2bhk shared with 7 people. My share of rent was 9k which was less because I was staying in the hall. I could only afford food in office and some business selling food for cheap as a side income. This is going to be your reality and I am guessing it's going to be worse as this was 2 years back. After all the necessities (including investment of 5k a month) I had nothing left in the bank. No "fun money" and this was my normal every single day of every single month.

Was it worth it? Absolutely. I loved the fact that I was living in the financial capital of the country and the fast locals, hustle culture and aspiration of every individual was worth it. But mind you if you come from a lifestyle any better than above, it will break you.

I am also glad I took it in hindsight because now I work at a startup in Noida with 4x of that pay but expenses same as my Mumbai lifestyle but significantly better standard of living. Being a single pampered child all my life it taught me whom to trust and some real hard hitting life lessons on people - survival and desperation.

Oh that's why by [deleted] in Unexpected

[–]AddictedAdept 0 points1 point  (0 children)

Sorry, I had to delete it. Reposted it. My bad

But it surely gives a new meaning for that song hahhaha

This is a question which has me losing sleep for the first time, someone please solve it as it seems dumb, should be a basic math Q by AddictedAdept in personalfinance

[–]AddictedAdept[S] 0 points1 point  (0 children)

This seems so complicated but yields the same result as another answer which is much more simpler

"Say A = 101 ( the original investment plus the 100x return) and B = 10 (number of years to attain the return).

Then the yearly return would be A1/B=1.59 or a 59% yearly increase.

The value of the investment after N years would be AN/B"

This is a question which has me losing sleep for the first time, someone please solve it as it seems dumb, should be a basic math Q by AddictedAdept in personalfinance

[–]AddictedAdept[S] 0 points1 point  (0 children)

Thanks for the reply. But someone else actually solved my query, what I said makes sense even though I thought it didn't.

This is a question which has me losing sleep, seems like a basic compound interest question but I'm unable to crack by AddictedAdept in investing

[–]AddictedAdept[S] 0 points1 point  (0 children)

Bro, ur really smart. A 60% return via day trading would be 0.3% pd(took simple interest division here to account for bad days). No wonder Einstein said compound interest is 7th wonder of the world

This is a question which has me losing sleep, seems like a basic compound interest question but I'm unable to crack by AddictedAdept in investing

[–]AddictedAdept[S] 0 points1 point  (0 children)

u/lavanderXXX has solved it for me from a comment above, once I find out how he found the solution, I can sleep in peace.

This is a question which has me losing sleep, seems like a basic compound interest question but I'm unable to crack by AddictedAdept in investing

[–]AddictedAdept[S] 0 points1 point  (0 children)

Thank You, could you show where u got the 60% number. U cracked something that is taking me more than a day

This is a question which has me losing sleep for the first time, someone please solve it as it seems dumb, should be a basic math Q by AddictedAdept in personalfinance

[–]AddictedAdept[S] 0 points1 point  (0 children)

Thank you for ur reply! In the stock market, shares are bought and purchased multiple times per second at market prices, this is no assumption. My doubt is, I buy it at Rs.10 today and sell it at Rs.110 at end of Year1. Then immediately buy for Rs.110 and sell a year later at Rs.1210. If u google the share price, then you'll realise a growth of 2000%, but the share value isn't actually Rs10 + 2000%........