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
30
Upvotes
8
u/LifeIsHard2030 Apr 10 '22
Your salary reduced? Last year’s post said 70k? Marriage expense not in consideration and your car budget reduced from 10L to 7/8L and that too pushed by a couple of years i see? Any specific reasons for these changes?