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Hi All,
Persistent Systems is giving 10% variable on gross annual CTC. HR says you would receive minimum 70% of variable pay every month and remaining 30% will credited once a year at the end.
Does anyone has idea on this? Can I believe this and include 70% variable in my take home
Persistent Systems Limited
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Rising Star
You are too young to worry about these aspects. Just start a SIP of 5-10K, or whatever small comfortable amount, and continue with that for a few yrs, and then think about this issue. Enjoy your life!!
No need to be worried. You can start now. Better late than never. Start by investing in SIP/MFs in amounts based on your convenience.
Not my intention to brag here. I have saved around 70+ lacs and I'm 26 too
@larsen and toubro No, I was just lucky because I had no educational loans since my dad was able to pay for my college himself.
Chief
M27:
Nothing! only pf and 1.75 lac FD.
I had almost no savings(very low pay) until 25-26 too. Lock down and job switch helped. I have saved 20L now.
You pay must increase as you are more experienced now. All the best
Instead of how much I saved. I'll share what we can do!! Let's say your take home is 70k and unmarried!! Strictly save 50% of it which is 35k, keep it in small cap mf which you can expect 12%, and I'm under assumption you might stay for a company for 2 years so sip amount will come to 9.5lks
After switching your company you may get around 1lk take home and this time save 60% strategy(assuming you'll be married and your wife contribution will be there). This time your initial investment 9.5lk which is from previous 2 years and now sip of 60k monthly. So after 2 years urs will be 28.8lks.
After switch I can assume 30% hike which you'll may get 1.3lk take home and if possible increase saving to 10% so then 70% sip which comes around 90k sip. After one year you'll be 30+ and your value will be 43.8lks..
If you could invested early this numbers would reached to 1cr !!!
Under assumption 14lpa is fixed so 14lpa/14 = 100000 approx is ur take home. Out of that ur car loan usually people should not exceed 30% of their take home (as per financial thumb rule) so around 30k will be ur cut from take home and for a couple with decent life style with rent and groceries 40k will be sufficient, entertainment and shopping let it be 10k per month so total exp is 80k so you only left with 20k. Strictly do sip from now and try to improve your skill set and switch job also increase your sip amount. Never too late !!! Hope ur wife will get job soon and will contribute to saving !!
Note if your doing PKG/14 you'll be mostly getting amount after taxes
I am 23 and I have bought a plot worth 30 lakhs with my savings, loan and parents savings
29M, 6 yoe.
Right now 25L in cash, some of that with parents. Apart from that I've invested 30L in real estate last yr. Zero debt.
NW this yr - 90L with no debt.
In 1 yr I'll have 1.3 Cr worth real estate, atleast 30L in liquid, some 10L in gold, 18-20L in Adobe stocks, all after taxes & wedding expenses (expecting 18-20L wedding expense).
NW would easily be 1.7-1.8Cr after 1 yr 🙂, with some 30L property loan. Not counting wife' s assets if I get married.
PS : This is all from my own money, not much from parents.
2 lakhs and 33 thousands only.
🥹
Maybe 2LPA and i am 32
Around 35 includind epf but i am 30
Same for 90% public
Around 25+ Lakh including plot, stocks, lic, sips, pf
1crs including Vila and BMW .
Bro, BMW is not an asset, it's a liability.
Im 28 and I just started my career after an MBA! I spent all my before MBA savings in mba 😥
Lets see how thing goes from here!
I thought I was the only 26 YO without savings. I was merely earning 35-45k (still do) and did save around 30-40k once only for my mom to donate half of it to temple. And since then I was done saving. I would have been happy if she used it on herself. Jab khud ka paet nahi bhar raha toh charity karne ki kya zarurat.
At 26 I had no savings, but no debt as well. Had just started working.
Now 28, have 5L in savings and 5L in FD. Looking for ways to start investing more but afraid of the share market.
26 bought property worth 50 lakhs (15L paid by father and 17.5 lakh debt home loan) and 8+ lakhs in account 1.5lakhs in ELSS and looking forward to start a small medical shop in 2 months that will pay my EMI
I am 27. And have 3.5 lacs in MF & Direct stocks, 2.6 lacs in debt instruments (savings account+ RD) , 2.5 lacs in PF. Saving 40k/month now. Lets see what happens next.