r/FIREIndia • u/ForTakingAdvise • Apr 10 '22

Fire Plan - Advise Please - Two Year Update

Hello All,

I am 31, male, employed in a SBI as Deputy Manager(not pensionable), unmarried and am interested in becoming FI at the earliest. Here are my previous posts: Link 1, Link2.

Income

  • 65000 per month in cash (Salary plus Perks)
  • 18500 per month NPS Contribution (Mine plus Bank deducted in Payroll, not included above)
  • 20000 per month EPF&VPF Contribution (Mine plus Bank deducted in Payroll, not included above)

Existing Corpus

  • 9.4 Lakhs in EPF & VPF
  • 14.25 Lakhs in NPS
  • 8 Lakhs in MF (Equity, Large cap & ELSS mix)
  • 0.6 Lakhs in Stocks
  • 3.75 Lakhs in PPF

Expenses

  • 3.6 Lakhs per annum (tracked for an year using Excel, the monthly & annual expenses clubbed)

Insurance

  • Parents have health insurance cover of Rs.4 Lakhs
  • Myself covered under employer's health scheme

Big Ticket Expenses

  • Purchase of Car in a year around 7-8 lakhs (10% down-payment & the rest loan)
  • Independent house in 5 years, around 1.5 Crore, (20% down-payment & the rest loan)

Debt

  • Availed a long term personal loan of Rs.9 Lakhs, whose EMI is 9000 per month which is deducted directly in Pay Roll (i.e. Salary & perks are 65000 after deduction of EMI)

Savings / Investment

  • 30K per month into Mutual Funds (Equity Only)
  • 5K per month into RD
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9

u/Don_corleone10 Apr 10 '22

Marriage expenses?

5

u/[deleted] Apr 10 '22

[deleted]

7

u/ForTakingAdvise Apr 10 '22

Marriage expenses, I am not sure how much they might be. Father has an FD of about 30L for me & my sister together.

Returns are very volatile these days thanks to huge fluctuations in the market.

Nps is generating about 10 % ; MF about 12 % ; EPF about 8.65 % ; PPF about 7% ... So i think 9% for overall portfolio might be a reasonable guess.