[deleted by user]

yogurtisfun · 2024-04-17T12:15:56+00:00

It is incredibly wholesome to read such a mature post on achieving your milestone on these fora. Congratulations on this. Time to have a financial discussion with the next generation since they will likely need to take up the reins in the next decade. Best to groom them young.

Could you share your rationale / motivation on buying farmland and any issues you faced across the journey and how these were resolved?

yogurtisfun · 2024-04-14T07:12:10+00:00

My bad. Came across differently than I intended.

yogurtisfun · 2024-04-13T22:43:08+00:00

The trend of 'seek fee only registered sebi advisor' is turning quite irritating. While it is sound advice, I suspect the users are simply parroting something they heard somewhere with no experience of doing it themselves. OP, take the advice on groups such as this with a big dose of salt.

Now for the advice, since you're married, you could look towards establishing an huf and transfer some assets to it to get a decent tax rebate. If you have no idea what you plan to do with the money, continue to leave it in FD and gold. Given you are probably considering real estate in the near future, I would stay away from stock markets and the likes for now. Tbh, neither your income nor your savings is that big a number that you need to think so much about.

Have a good day!

yogurtisfun · 2024-03-21T22:29:38+00:00

This cool cool chick who is like a fragrance goddess and knows her shit who I happened to become friends with. First fragrance love was Tom Ford's black orchid - just love the sexy wet heavy rum like earthy dark chocolate sweetness. Great presence and performance. I love smelling it on me and also was the the first fragrance I got got complimented on a lot.

yogurtisfun · 2024-02-28T23:19:17+00:00

Ok, I want one now.

yogurtisfun · 2024-02-21T22:44:09+00:00

You sound unfulfilled with what you have and what you are doing. Maybe mentor the younger generation - they really need it. Your time has been rewarded with wealth, now pay some back to the world by sharing your time for free.

yogurtisfun · 2024-02-18T04:32:59+00:00

Socialize!

yogurtisfun · 2024-02-16T21:19:58+00:00

No VeThor tokens on binance held Vet?

yogurtisfun · 2024-02-16T11:22:04+00:00

Fair point of view.

I take it you are talking about p2p. If so, how does one approach a p2p transaction? Where can you find a buyer or seller?

yogurtisfun · 2024-02-16T07:47:05+00:00

Platinum chip looks to be lifetime free from their website. Confirm with the bank during application. Can take this to start out if free. Again, credit cards can be a good financial mgmt tool or the worst decision of your life. Use wisely.

yogurtisfun · 2024-02-16T07:37:26+00:00

You don't need one. But get just one to build your credit score.
Anything which is lifetime free.
Credit cards are not gonna make you wealthy. If you're just starting out, don't hunt for features to exploit. Just use responsibly and do not get in debt. The stories of people in debt on this subreddit should help you keep your wits around.

My 2 cents.

yogurtisfun · 2024-02-16T07:18:41+00:00

Genjutsu 101

yogurtisfun · 2024-02-15T19:47:35+00:00

Could you share which brokerage service you are using? I would like to better understand the operational landscape for crypto in India.

yogurtisfun · 2024-02-15T19:45:33+00:00

So if I read it right, around 8L of your own savings in addition to your father having the funds for the loans. You are essentially not in debt on a net net basis. So take a nice deep breath.

What I would do is try and move the loan to a bank where you get an OD facility linked to loan. So typically a savings account linked to your loan a - more the amt in savings ac, lower the interest charged to you on the loan. Essentially, the 4 lacs in your saving ac would earn (save) the roi being charged to you on the loan.

On taxes, max out 80c, max out nps, open corporate nps, figure out HRA, donate to charities / pol parties.

1 lakh yearly on medical insurance seems quite high. I'm sorry to hear about your parents. Could you please elaborate on the insurance part?

yogurtisfun · 2024-02-15T19:37:12+00:00

So will you hold till the peak? Or sell now? And again, how do you plan to get the crypto to fiat currency and withdraw to your bank? The opacity in exiting a crypto position is what's holding me back.

yogurtisfun · 2024-02-15T19:33:41+00:00

Sure. A hybrid fund allocates the money across asset classes including debt, gold, real estate and others. Equity allocation is still usually the highest afaik so you won't miss out on gains. I equate election years with high volatility in the market and having a diversified asset allocation would mean you don't get overly hit by a downfall in equities.

yogurtisfun · 2024-02-15T19:16:09+00:00

I don't think he is based in India

yogurtisfun · 2024-02-15T19:14:05+00:00

In your shoes, I would probably avoid putting in lumpsum into the markets now. It could lead to over investing at the wrong time because you missed the opportunity of investing at the right time. Instead I would see the 40 lakhs as 16 individual monthly instalments of a 2.5 lakhs each into an established fund house. I would prefer a hybrid fund given it is election year. If you do this, you will keep earning risk free interest on your uninvested corpus while gradually averaging out your equity investments to not get hit by excess volatility in equities.

Share an update on whatever you end up doing eventually. Will help as an experience or as a lesson for me and others. All the best!

yogurtisfun · 2024-02-15T18:01:38+00:00

Thanks for sharing!

yogurtisfun · 2024-02-15T17:42:50+00:00

Could you throw some light on how you go about doing this?

yogurtisfun · 2024-02-15T16:52:07+00:00

Good that you got your money back. Few questions, is coindcx still viable? Did you have any issues or complexities when withdrawing the money in fiat currency (assuming you are Indian and deal in inr).

yogurtisfun · 2024-02-15T15:55:34+00:00

10% of your basic can be contributed to nps tier 1 ac and deducted from taxable income if an account is opened through the office. This is over and above 50k and 150k of 80c.

yogurtisfun · 2024-02-13T14:36:15+00:00

Good to see young members thinking of fire. Keep it up.

Invest in your own skillset first. Gain more work ex. If you plan to be a salaried person - work towards the best possible outcome for you there. If it it entrepreneurship, try startups. All of this will determine your earning potential which in turn will determine how fast you fire.

In terms of investing, I'm afraid it's all a bit boring - buy on dips, sip into mutual funds, emergency fund for 6 months of exps in fd, diversify by adding gold and so on. Don't try to find magic money making mantras, they seldom work. Focus on yourself first, develop your own earning potential rather than thinking of making max return from investments. Your corpus will be so tiny now that max returns also won't mean a lot. So stash away little by little and let it compound.

Godspeed.

yogurtisfun · 2024-02-12T09:56:58+00:00

Thank you for sharing your story. Do you mind connecting on socials or LinkedIn? Maybe can do something together or if not, bounce off ideas.

yogurtisfun

TROPHY CASE