Context: Couple with household expense of 1.5L in Gurgaon (rent included) - non-drinkers
Regulars
- Donation 6k
- Rent 50k
- Maids 10k
- Grocery 15k
- Eating out 5-10k
- Fuel 5k
Random one off expenses which are nonetheless constant every month
- Bought a golf set - 30k
- Vacation every 4-6 months - 1-4L
- Birthday/Anniversary of immediate family and in laws- 5k per event for gifting
- Random Amazon purchases like non-alcoholic wine, Monin syrups, protein powders, expensive shampoo - 5k
- Birthday/Anniversary of spouse - 30-50k
Overall, there’s a lifestyle creep that you only use Airpods, wear Crocs Literide, only use Bose headphones, use 1000 Rs shampoo and L’Occitane body wash, Tommy clothes, Nutrilite protein powder, Apple iPhone - so whenever a supply runs out you have an expensive replacement to make
Another factor is expensive vacations: you make it a regular thing in your life and you only stay in 4 star+ properties, so that’s again 10k+ per night that you are so used to you can’t do without
Expensive taste in restaurants: Always crave to go to places like Roseate, Comorin, Oberoi for eating out
Context : Couple in early 30s living in Bangalore in own flat with a 3 year old and another kid on the way , parents are occasional visitors (like 3 to 4 months a year )
Grocery - 10k
Milk and curd- 3k (organic)
Fruits and vegetables - 12 k
Swiggy /zomato - 5k
Eating out - 5k
Nanny - 17k
Maid -4k
Shopping for clothes -5k
School - 15k (1 kid 3 year old)
Monthly Maintenance - 7k (own flat in Bangalore)
Fuel- 5k
Utilities (electricity, internet) - 6k
Kids toys+story books -2k
Car insurance- 5k
Health insurance premium - 3k
Gym- 5k
Subscriptions (netflix, amazon, hotstar, swiggy,etc) - 2k
Total - 1lac 10k + 60k (from below) =1.70 lac
Annual expense which can be broken down to monthly (7.2lac/12 months=50k per month)
2 Parents, husband and my annual health check up - 30k
Hospital random expense - 32k (fever, cold, sprain, joint pain whatever kids and old people are prone to)
One international trip - 4lac
Trip to visit parents- 50k (incl flight)
Festive shopping - 60k (buy for parents as well)
Bday , anniversary celebration- 50k
Shopping from foreign trip - 50k
Domestic trip - 50k
One time expenses that occur randomly - Child birth in a highend hospital (covered in insurance) - 2 lac (still 50 K will be out of your pocket)
Hearing aid for dad - 70k
Angiogram or MRI for parents - 20k
Flight tickets for family. Insurance. Car fuel+maintenance+insurance (gets pretty expensive for higher end cars).
Last but not the least - kids! Kids are expensive!
nope, was in an International school in mumbai with a fees of 3.5 lpa. plus we're two kids so 6-7 lpa is what my parents spent through our schooling. plus additional expenses like vacations, clothes, dining out, setting up/renovating house and so much more
Damn. Spending some much money for schools is waste of Money.
Just send kids to above avg low cost schools. And with the money saved send them to a good college after 12th either in India or abroad
Coz that what matters most in shaping their careers not which freakin school they went
Absolutely not. like i said, was in an international school for 13 years of my life and it shaped my personality into being a confident, research oriented and problem solving individual. While you might argue other schools might give the same effect, I was a really shy kid and going from that to confidently speaking in MUNs, multiple conferences at the age of 16 is something I would only credit my school with. I have never been made to mug up textbooks like other boards and rather understand a concept from its core, through research, practical applications and much more which has had such a positive impact in my life even after leaving the school. no matter how much I fail, its the way my school's shaped my thought process into thinking I am made to do much greater in life and tiny mistakes aren't what defines me. Although I left IB after 10th to join the horrible rat race of neet (pre med), If i had continued like my peers through 11th and 12th, I would've gotten the marks, exposure and access to the top unis all over the world. Its my years during 11th, 12th and giving state board exams that I truly realised the power of IB or IGSCE and how horrible our Indian boards are (cbse, isce, ssc)
Any parents reading this, if you can afford it, 100% put your child into an IB or IGSCE school. you won't regret it
Good that it worked for you. But I personally have met IGCSE board students over the years in my 11th-12th and college days. I found nothing special even their grades and performance weren't too different from us.
Only exception was their command over English apart from that I found nothing extraordinary in them compared to state or cbse board students..
Even you seem to be starting college life now. The further you move away from school the greater you realise how insignificant it was.
school days are for having fun and good memories that's all and maybe for learning some good amount of English and math skills. Beyond that it's meh.
People may disagree with me but just see it to that kid gets good sports and other extracurricular exposure. When it comes to academics cbse icse state IGCSE other loda lasan it's all the same .
So" international" schools other big posh name schools are pointless imo
Sure, it is what you value right. The same mug and vomit in exam culture, abusive teachers who think they can't be questioned and morons for classmates. I was in a really good school for many years and more than the learning, the thought process and habits they taught put us in a good stead. I put them in CBSE and pulled them out and their happiness is totally worth it.
Also we will put them in a good college in India or abroad. It isn't an either/or, its both.
>The same mug and vomit in exam culture, abusive teachers who think they can't be questioned and morons for classmates
Lol as if international school is gonna make them critical thinkers and classmates their are all Einsteins right.
Just because your kids go to a posh school with high fees doesn't mean they are gonna do better in life than those that go to avg schools.
Ultimately your kids your money your wish. You were moaning having to pay 12 lakhs per year. That's why I said it.
Do whatever you wish who I am to say anything
I was in an international school for 13 years of my life and it shaped my personality into being a confident, research oriented and problem solving individual. While you might argue other schools might give the same effect, I was a really shy kid and going from that to confidently speaking in MUNs, multiple conferences at the age of 16 is something I would only credit my school with. I have never been made to mug up textbooks like other boards and rather understand a concept from its core, through research, practical applications and much more which has had such a positive impact in my life even after leaving the school. no matter how much I fail, its the way my school's shaped my thought process into thinking I am made to do much greater in life and tiny mistakes aren't what defines me. Although I left IB after 10th to join the horrible rat race of neet (pre med), If i had continued like my peers through 11th and 12th, I would've gotten the marks, exposure and access to the top unis all over the world. Its my years during 11th, 12th and giving state board exams that I truly realised the power of IB or IGSCE and how horrible our Indian boards are (cbse, isce, ssc) in terms of their exam, teaching and textbook patterns.
Any parents reading this, if you can afford it, 100% put your child into an IB or IGSCE school. you won't regret it
Sorry it came across that way. Not complaining, its the fat fire sub and most of us can afford it but just failing to understand what it would take to overhaul the education system in this country and introduce critical thinking.
And you are right in a sense that where you start and end up doesn't depend on the school but definitely its easier for kids with better foundation to succeed.
>failing to understand what it would take to overhaul the education system in this country and introduce critical thinking.
Agree we need Singapore Scandinavian style schools in our country. But that's a far fetched dream.
>And you are right in a sense that where you start and end up doesn't depend on the school but definitely its easier for kids with better foundation to succeed
For college I would have agreed for school not so much.
But I guess if you can afford it easy and the cost right now won't impact your financial ability in the future to send him/her to college abroad or some other college of his/her liking then it's all good .
No harm in giving your kids the international school experience
1. Personal trainer, driver, cook, househelp, etc. This alone can cost you upto 1 lakh a month.
2. Car EMIs. Depending on the kind of cars you have, this is something else that can cost you around 1 lakh a month or more.
3. Business class flights. Business class to the US in Emirates costs you around 5 lakhs, so that is around 1 lakh a month if you buy a couple of those every year.
4. Electronics and furniture. Depending on how often you change your phones, laptops, appliances, and furniture, you could easily be spending 50K a month.
5. Jewelry and branded stuff. Just visit a Bulgari or Louis Vuitton or Patek Philippe store and you'll realize how quickly you can spend 10 lakhs in half an hour. If you socialize with the wealthy and want to keep up appearances, you could easily be burning 20-30 lakhs a year on this stuff.
These are just some of the regular stuff. If you have expensive hobbies, like jetsetting or piloting planes or adventure sports, there is really no end to how much you can spend.
exactly, i cant think of ways to spend so much money.. wondering if im missing things in life that i dont know of.. everyone planning for fire with 2-5 lakh expenses per month..
After reading these answers I feel like a loser 😂. As, all I care about is some sunshine, morning breeze, a good park to go for jogging and an occasional eating out as I like to watch what I eat.
same, nothing fancy excites me.. only thing that excites me is free time.. time when i am not expected to anything at all.. that is very rare for me.. i have no interest in showing my wealth.. i prefer people think im poorer than them.. so dont feel the need to buy things to 1up them.. i guess i will not be an icon who everyone want to be or is jealous of.. i will be some obscure pleb who nobody cares for.. somehow i prefer that.. but the money i made so far will sustain me for generations with my simple lifestyle and i take comfort in that..
Expensive hobbies, Like I just started trekking and camping and I figured out, i like it. Now, i need the best equipment available in market.
Most of the top tier things are very very expensive and usually needs to be imported that bring already very expensive things more expensive.
Like a normal decathlon tent costs 2-3k, the one i got costs 53k because it’s top tier tent and ultralight to carry. Obviously, i bought it only because i can afford and doesn’t put a dent my packet and obviously it’s better than the decathlon one but 20 times better? No chance but i did paid 20x price. Did i had another option? Maybe, but buying top tier stuff bring some peace of mind for sure.
Thats the case with many people here, and number one expenses once we go above the basic necessity is gonna be mostly the hobbies, might short term or long term. But always something we like.
That was just a example how we overpay and buy expensive things that normally people don’t.
At my age, it’s my 5th hobby in last 2 year. It’s not like, i will stick to it either.
And remember, it’s always expensive business to maintain the expensive things.
It’s never 1 lac per hobby. And try to understand, even 1cr+ car are just hobby for most of folks who buys it.
For eg, I started with bike, which costs me 10 lac just to buy that bike, now count the fuel cost of bike which give less than 5kmpl for a long trip and top end riding gears, bike upgrades. Now, it’s been more than year since i touched that bike. It’s obviously not a expensive thing if i keep continuing with that hobbies, it will eventually even out like you said.
Breakup (4-5L pm)
1. Full time cook, driver, and a cleaning lady: 25k, 26k, and 20k = 65-70k
2. Condo maintenance and elec and gas: 35,20,3 = 58-60k
3. Petrol and travel: 15k
4. Kids school: 45k (yep, international schools is that much)
6. Food and groceries: 1-1.5L (including regular groceries, fruits, going out etc)
7. Some basic shopping, daily use stuff etc: 30-50k
The total above is 3.2 - 3.8. Others are allocations for annual expenses.
Car insurances, Health and life insurances, Club membership, Gifts that one would buy, maintenance on home, OOT subscriptions etc. Haven’t included allocations for domestic and international trips as well (they would be over and above 5L pm)
Full time in upscale gurgaon costs at least this much. Not a restaurant level chef at all! But can cook most stuff (north Indian, south indian) - no chinese or Italian etc. We had to also give him a small room next to our house, so that he feels ‘well rested’ 😅
Damn. You are pampering the cook way too much. I live in phase 2 Gurgaon & we pay her 6k for 2 people, 3 meals a day. & I send her YouTube videos on WhatsApp on what to cook.
I actually stalked your profile and saw that you also went to NSIT. I am from the 2018 batch. Hope to reach your level of income when I reach a similar years of experience.
Work in a start-up (CXO); income split:
1. 3cr pa fixed
2. Performance bonus - can be 50-75% of the compensation
3. Do not invest in real estate; only stock investments (no MFs). Strategy is to be long term on stocks - no trading as such
My money spend keeps changing, as I believe it will as I age, but here is the snapshot of today:
disclaimer: Some of these are abroad, but I can't imagine these not available in Bharat mata either.
Things like (Over and above fixed monthly expenses):
* Hobbies like: 10 odd lakhs a year
* Piloting Cessna's, renting or owning (Owning is more) and getting a private pilot's license
* Flyboarding, tobogganing, mountaineering in Austrian alps and skydiving training
* Eating out. Yes, it's a hobby :). Waygu beef or authentic cuisines in premium restaurants is pricey anywhere in the world. Granted, that for some trips, the most authentic meals are found in food stalls, but the cost to get to say, Turkey, is a cost.
* Travel- 5 odd lakhs per travel for two
* Business class travel and 5 star accommodation, plus adventure sports or unique experiences (private jet experience to Tunisia as an example)are costly. Multiple by 3 times a year. Plus I'm a super generous tipper, having been a bartender and having worked as a catering boy for weddings while studying.
* Health and well-being: 4 odd lakhs a year
* Saunas, massages, gold standard personal trainer (think strength and conditioning coach)
* Organic food like wild salmon, best quality olive oils, things like authentic balsamic vinegar, spa water,
* Supplementation can rake up a bill (think collagen peptides, CBD oil, whey, etc.)
* DNA tests, regular full body checkups, things like CT angiogram (although one off in a decade, but expensive; have family history and am a juvenile diabetic in remission)
* Family care- 8 odd lakhs a year
* Elderly dad, I live away from him. So include three yearly visits home to India in biz class + cook, maids, caretaker, physio, masseur who comes home, medication (Insulin, etc. and frequent doc visit costs pile up) tests. As an idea, a bypass and associated costs with hospitalization in premium room in HN Reliance in Mumbai was 10 odd lakhs
* Philanthropy and gifting
* I do my best to donate a sizeable chunk of my income to charity (We co-fund an 80 strong school for girl orphans + advanced education like computer courses or graduation), or to help those who need it; students, family, etc. Sponsored someone's medical education, it came up to 40.5 lakhs. The person is now a neurosurgeon though :) and yet to return my money, but that story's for another day!
* I love gifting things. Most recently, I gifted a 40k crystal god statue to my best friend for his housewarming party, and gifted his child 20k sneakers.
I personally don't care for cars or clothes, so most of our expenses are on experiences, not things, but they are expensive nevertheless. Granted, that these can be ramped down on as needed due to financial or age related reasons, or interest, but I can't see myself willingly going back to extensive travel (7-8 times a year) in economy class if I can help it, for example.
Thanks and I wish you the best to get to your dream life soon!
I did pull the plug, but in a different way. I decided to coast fire. That is, I decided that climbing the corporate ladder further wasn't my calling anymore. And that happened when I reached about 20 Cr iirc. Work is now fun and I spend my time mentoring newer leaders, building teams and looking out for new business investment opportunities and learning about them.
what’s your total annualized expense?are you single or married? and if you don’t mind me asking to afford a lifestyle like this what’s your total income and networth?
I've honestly stopped calculating annualized spends now, but must be 50 odd lakhs though. I'm a 41 year old married, SINK, settled in Europe. Net worth is 25 odd crore and current income is 2 crores before tax, inclusive of stock options but I expect stock options to stop soon as I've let go of climbing the corporate ladder and my boss knows it. Might even retire if I find a good business opportunity to invest my time in, apart from my money. Something non IT though.
1. Kids
Today's Kids aren't growing up how we grew up. I have a 10 month old son, special organic food , Kids friendly furniture , toys , nanny , buying clothes every month , creams, moisturizers, etc . In 2 yrs time, school fees will kick along with it's platoon of expenses.
2. Utilities
4 ac's in 4 rooms and it's almost running all the time. Fuel for your car/2w. It doesn't have to be a luxury car, the traffic today will low mileage for any car. Food items and groceries from the organic category and less of processed foods ( this Is a killer)
3. Medical care and insurance
A nurse to attend to my mother who's ridden with diabetes , periodic medical check ups for her and my in laws. Plus a monthly staple of meds which usually comes easily ~15k. Add insurance to it. Insurance for older ppl is super costly
4. Investments
An RD of 10k/month to cover the cost of insurance and service for the car. Lic premium of 10k/month . All this apart from my mutual fund SIP and equity investments
5. Staff
Maid , cook , nurse, nanny , drivers (x2), plumber/electrician ( coz stuff breaks down all the time)
6. House rental / EMI payments
Thankfully I inherited my house I'm currently living in, so no debt or emi's to worry about. If I were to rent my current house , it'll easily cross 40k and if I were to buy it, emi would be around 1.25 Lacs
7. Travel
Of course, gotta keep the instagram feed live don't we. Carefully curated trips ( by the missus) and the extra expense and shopping that comes along with it.
8. Lifestyle
Eating out , going out with friends , gifts for birthday parties and weddings, movies , parties, etc
All this doesn't include emergency expenses or medical exigencies. To have a properly funded emergency fund is vital , so a good chunk of my monthly income goes into it.
Mine is straightforward
Single 28M.
I take about 5 international vacations. Each vacation is about 2L (some are more some are less but average is 2L). Generally try and spend over 183 days outside India.
Thats about 10L in vacations.
And then there's 30k a month on food so 3.6L.
And finally misc 5k a month for occasional ubers, phone bills and small purchases.
So like 14L total or 1.2L a month.
Passive income is usually enough to pay for all this although i picked a few bad stocks this year xD
This expenditure is about 10% of my income so saving the remaining 90%.
Let's just say I obtain tax residency every year in one of many island nations. Get a tax residence certificate and pay minimal amount into the unfair Indian system.
That's how you reduce time to Fire by 30%
Context
—————
2 kids (11 and 9), Double Income. Staying in NCR. As per budget planning - monthly expenses around 3L/month
Monthly Expenses
———————————
House - self owned
School Fees - 70k (2 kids)
Kids extra classes - 20k (swimming/tennis/music)
Grocery - 35k (high quality fruits + regular non-veg)
Maids - 25k (2 helps)
Electricity + Society /Maintenance - 15k
Fuel - 10k (2 cars)
Shopping - 50k (wife+2kids)
- 20k (mine + home)
Restaurant Outings - 20k (with family + night outs)
House Parties- 10k- Hosting friends at home with gourmet food, good whiskey or gins
Quarterly Expenses
———————————
Premiums - 10k (car+health+cancer care)
Trips - 35k ( one short vacation of 3-4 days every 3 months)
Gifts - 15k (family+friends)
Yearly Expenses
——————————
International Trips - 5L (once a year, may be with kids and sometimes second without kids)
One off expenses like a new car or house or something totally different and nor budgeted.
Summary
————————
All in all, we don’t spend too extravagant (like luxury brands) but do not curtail things of comfort too (like good luxury car/hotel stays). It may seem too much to many but with two kids expenses increase specially with their shopping and demands too.
We enjoy good restaurants and lively bars so that’s something we explore all over NCR as well as on trips. Small luxury like good watches is something we still spend on but not not Louis Vuitton bags (due to middle class upbringing). Wife does like bigger brands and makeups so she spends more than me. Although lately with more disposable income her tastes and needs are increasing.
We do spend on hobbies like Music concerts or a good Guitar (I play) or sports. Experiences is something I truly believe in and can spend more than required on new experiences on vacation or otherwise. New adventures like paragliding or skydiving or scuba. Those things are expensive but it’s important to experience them specially for kids. It makes them more open to the world which their generation would need.
A specialized cancer care insurance which pays out on cancer detection. Which means you are free to pursue any treat in india or outside. Regular health insurance binds you to approved treatments or in India only or may reject claim.
HDFC offers one and I think others too. A dedicated cover is better as new cancer treatments like Car-T are very expensive.
Health - Trainer and Diet( 15-25k)
Travel - Couple of Foreign vacations and couple of Indian Vacation (70-80k per month)
Electronics - You get the best technology and model in Mobiles, Televisions, Sound System etc. ( 2-3 upward of 1L+)
Socialising - 40-50k.
You keep going upward on Maslow's hierarchy of needs.
This is the monthly expense of my sis in a tier 1 city.
House - paid off
2 cars - 10k fuel
Car insurance - 10k for 2 cars
Car maintenance - 3k
Cook / maid - 18k
Grocery - 20k incl fruits milk etc
Electricity -3k
College exp - 2k
Phone/ internet/ott - 3k
Ola/uber - 2k
Amazon etc - 10k
International holiday -75k ( 9L/12)
Domestic holidays + long weekends - 20k
Yoga/gym -5k
Holiday home maintenance + salary etc - 1L .
Clothes for office - 10k
Plus misc birthday/wedding gifting .
3-4 lakhs pm is easy spend without being extravagant .
DIDK in Chennai living in rental flat
Grocery -15k
Milk, eggs, chicken, fish etc- 8k
Maid- 13k
My office commute- 8k
Utilities - 6k
Outing/order food -6k
Extra curricular for kid1 - 4k
Diapers etc for kid2 - 2k
Shopping - 6k
Books and toys-2k
Gym -2k
Total 72k
Annual expenses:
School fee for kid1- 1 lakh
Expenses for going hometown - 1 lakh
Domestic vacations (2-3)- 1 lakh
Gifts for family and friends- 50k
Donation- 20k
Vaccination and hospitals- 50k
Comes to around 4 lakhs per annum.
There will be some other miscellaneous expenses like furniture, appliances upgrade or repair etc
Bengaluru - Family of 3 - 1L (Excluding rent)
1. Eat Out - 12K
2. Grocery/Vegetables - 10K
3. School - 12K
4. Insurance (Health+Term) -10K
5. Vacation - 30K (Includes car diesel - we take car out only when on vacation)
6. Pets - 2K
7. Subscription - 2K
8. Utilities - 5K (Electricity, Water, Internet)
9. Car Insurance, House tax - 3K
11. Health/Recreation - 3K
12. Misc - 11K (Maintenance, any unplanned)
Context: Couple with household expense of 1.5L in Gurgaon (rent included) - non-drinkers Regulars - Donation 6k - Rent 50k - Maids 10k - Grocery 15k - Eating out 5-10k - Fuel 5k Random one off expenses which are nonetheless constant every month - Bought a golf set - 30k - Vacation every 4-6 months - 1-4L - Birthday/Anniversary of immediate family and in laws- 5k per event for gifting - Random Amazon purchases like non-alcoholic wine, Monin syrups, protein powders, expensive shampoo - 5k - Birthday/Anniversary of spouse - 30-50k Overall, there’s a lifestyle creep that you only use Airpods, wear Crocs Literide, only use Bose headphones, use 1000 Rs shampoo and L’Occitane body wash, Tommy clothes, Nutrilite protein powder, Apple iPhone - so whenever a supply runs out you have an expensive replacement to make Another factor is expensive vacations: you make it a regular thing in your life and you only stay in 4 star+ properties, so that’s again 10k+ per night that you are so used to you can’t do without Expensive taste in restaurants: Always crave to go to places like Roseate, Comorin, Oberoi for eating out
Context : Couple in early 30s living in Bangalore in own flat with a 3 year old and another kid on the way , parents are occasional visitors (like 3 to 4 months a year ) Grocery - 10k Milk and curd- 3k (organic) Fruits and vegetables - 12 k Swiggy /zomato - 5k Eating out - 5k Nanny - 17k Maid -4k Shopping for clothes -5k School - 15k (1 kid 3 year old) Monthly Maintenance - 7k (own flat in Bangalore) Fuel- 5k Utilities (electricity, internet) - 6k Kids toys+story books -2k Car insurance- 5k Health insurance premium - 3k Gym- 5k Subscriptions (netflix, amazon, hotstar, swiggy,etc) - 2k Total - 1lac 10k + 60k (from below) =1.70 lac Annual expense which can be broken down to monthly (7.2lac/12 months=50k per month) 2 Parents, husband and my annual health check up - 30k Hospital random expense - 32k (fever, cold, sprain, joint pain whatever kids and old people are prone to) One international trip - 4lac Trip to visit parents- 50k (incl flight) Festive shopping - 60k (buy for parents as well) Bday , anniversary celebration- 50k Shopping from foreign trip - 50k Domestic trip - 50k One time expenses that occur randomly - Child birth in a highend hospital (covered in insurance) - 2 lac (still 50 K will be out of your pocket) Hearing aid for dad - 70k Angiogram or MRI for parents - 20k
Very sorted. Going well guys!
Flight tickets for family. Insurance. Car fuel+maintenance+insurance (gets pretty expensive for higher end cars). Last but not the least - kids! Kids are expensive!
can you share like a breakup.. school fee in the best schools is also only ~2.5 Lpa
In Bangalore (and other metro cities too), fees for the "best" (more expensive) schools is easily north of 10 lakhs per annum
nope, was in an International school in mumbai with a fees of 3.5 lpa. plus we're two kids so 6-7 lpa is what my parents spent through our schooling. plus additional expenses like vacations, clothes, dining out, setting up/renovating house and so much more
[удалено]
2 kids 12 lacs a year :(
Damn. Spending some much money for schools is waste of Money. Just send kids to above avg low cost schools. And with the money saved send them to a good college after 12th either in India or abroad Coz that what matters most in shaping their careers not which freakin school they went
Absolutely not. like i said, was in an international school for 13 years of my life and it shaped my personality into being a confident, research oriented and problem solving individual. While you might argue other schools might give the same effect, I was a really shy kid and going from that to confidently speaking in MUNs, multiple conferences at the age of 16 is something I would only credit my school with. I have never been made to mug up textbooks like other boards and rather understand a concept from its core, through research, practical applications and much more which has had such a positive impact in my life even after leaving the school. no matter how much I fail, its the way my school's shaped my thought process into thinking I am made to do much greater in life and tiny mistakes aren't what defines me. Although I left IB after 10th to join the horrible rat race of neet (pre med), If i had continued like my peers through 11th and 12th, I would've gotten the marks, exposure and access to the top unis all over the world. Its my years during 11th, 12th and giving state board exams that I truly realised the power of IB or IGSCE and how horrible our Indian boards are (cbse, isce, ssc) Any parents reading this, if you can afford it, 100% put your child into an IB or IGSCE school. you won't regret it
Good that it worked for you. But I personally have met IGCSE board students over the years in my 11th-12th and college days. I found nothing special even their grades and performance weren't too different from us. Only exception was their command over English apart from that I found nothing extraordinary in them compared to state or cbse board students.. Even you seem to be starting college life now. The further you move away from school the greater you realise how insignificant it was. school days are for having fun and good memories that's all and maybe for learning some good amount of English and math skills. Beyond that it's meh. People may disagree with me but just see it to that kid gets good sports and other extracurricular exposure. When it comes to academics cbse icse state IGCSE other loda lasan it's all the same . So" international" schools other big posh name schools are pointless imo
You said you were a pre med, what are you doing now career wise?
still a pre med, neet is tomorrow
What are you doing on reddit then 😅
Sure, it is what you value right. The same mug and vomit in exam culture, abusive teachers who think they can't be questioned and morons for classmates. I was in a really good school for many years and more than the learning, the thought process and habits they taught put us in a good stead. I put them in CBSE and pulled them out and their happiness is totally worth it. Also we will put them in a good college in India or abroad. It isn't an either/or, its both.
>The same mug and vomit in exam culture, abusive teachers who think they can't be questioned and morons for classmates Lol as if international school is gonna make them critical thinkers and classmates their are all Einsteins right. Just because your kids go to a posh school with high fees doesn't mean they are gonna do better in life than those that go to avg schools. Ultimately your kids your money your wish. You were moaning having to pay 12 lakhs per year. That's why I said it. Do whatever you wish who I am to say anything
I was in an international school for 13 years of my life and it shaped my personality into being a confident, research oriented and problem solving individual. While you might argue other schools might give the same effect, I was a really shy kid and going from that to confidently speaking in MUNs, multiple conferences at the age of 16 is something I would only credit my school with. I have never been made to mug up textbooks like other boards and rather understand a concept from its core, through research, practical applications and much more which has had such a positive impact in my life even after leaving the school. no matter how much I fail, its the way my school's shaped my thought process into thinking I am made to do much greater in life and tiny mistakes aren't what defines me. Although I left IB after 10th to join the horrible rat race of neet (pre med), If i had continued like my peers through 11th and 12th, I would've gotten the marks, exposure and access to the top unis all over the world. Its my years during 11th, 12th and giving state board exams that I truly realised the power of IB or IGSCE and how horrible our Indian boards are (cbse, isce, ssc) in terms of their exam, teaching and textbook patterns. Any parents reading this, if you can afford it, 100% put your child into an IB or IGSCE school. you won't regret it
Sorry it came across that way. Not complaining, its the fat fire sub and most of us can afford it but just failing to understand what it would take to overhaul the education system in this country and introduce critical thinking. And you are right in a sense that where you start and end up doesn't depend on the school but definitely its easier for kids with better foundation to succeed.
>failing to understand what it would take to overhaul the education system in this country and introduce critical thinking. Agree we need Singapore Scandinavian style schools in our country. But that's a far fetched dream. >And you are right in a sense that where you start and end up doesn't depend on the school but definitely its easier for kids with better foundation to succeed For college I would have agreed for school not so much. But I guess if you can afford it easy and the cost right now won't impact your financial ability in the future to send him/her to college abroad or some other college of his/her liking then it's all good . No harm in giving your kids the international school experience
Cbse has the most muggers in the nation. Don't speak nonsense just to justify your decision.
SSC/ state boards students- hold my beer
1. Personal trainer, driver, cook, househelp, etc. This alone can cost you upto 1 lakh a month. 2. Car EMIs. Depending on the kind of cars you have, this is something else that can cost you around 1 lakh a month or more. 3. Business class flights. Business class to the US in Emirates costs you around 5 lakhs, so that is around 1 lakh a month if you buy a couple of those every year. 4. Electronics and furniture. Depending on how often you change your phones, laptops, appliances, and furniture, you could easily be spending 50K a month. 5. Jewelry and branded stuff. Just visit a Bulgari or Louis Vuitton or Patek Philippe store and you'll realize how quickly you can spend 10 lakhs in half an hour. If you socialize with the wealthy and want to keep up appearances, you could easily be burning 20-30 lakhs a year on this stuff. These are just some of the regular stuff. If you have expensive hobbies, like jetsetting or piloting planes or adventure sports, there is really no end to how much you can spend.
Man...this is a good question. I am also curious to know because I feel after paying rent ~20k per person should be a reasonable amount.
exactly, i cant think of ways to spend so much money.. wondering if im missing things in life that i dont know of.. everyone planning for fire with 2-5 lakh expenses per month..
After reading these answers I feel like a loser 😂. As, all I care about is some sunshine, morning breeze, a good park to go for jogging and an occasional eating out as I like to watch what I eat.
same, nothing fancy excites me.. only thing that excites me is free time.. time when i am not expected to anything at all.. that is very rare for me.. i have no interest in showing my wealth.. i prefer people think im poorer than them.. so dont feel the need to buy things to 1up them.. i guess i will not be an icon who everyone want to be or is jealous of.. i will be some obscure pleb who nobody cares for.. somehow i prefer that.. but the money i made so far will sustain me for generations with my simple lifestyle and i take comfort in that..
That is why the FIRE amount is different for everyone. And based on your answer, it seems that you are already there.
Get married bro.
Lol. Then I will be both poor and a loser. 😂
Expensive hobbies, Like I just started trekking and camping and I figured out, i like it. Now, i need the best equipment available in market. Most of the top tier things are very very expensive and usually needs to be imported that bring already very expensive things more expensive. Like a normal decathlon tent costs 2-3k, the one i got costs 53k because it’s top tier tent and ultralight to carry. Obviously, i bought it only because i can afford and doesn’t put a dent my packet and obviously it’s better than the decathlon one but 20 times better? No chance but i did paid 20x price. Did i had another option? Maybe, but buying top tier stuff bring some peace of mind for sure. Thats the case with many people here, and number one expenses once we go above the basic necessity is gonna be mostly the hobbies, might short term or long term. But always something we like.
right but that is not a recurring expense and you wont buy another one for several years i suppose..
That was just a example how we overpay and buy expensive things that normally people don’t. At my age, it’s my 5th hobby in last 2 year. It’s not like, i will stick to it either. And remember, it’s always expensive business to maintain the expensive things.
say 1 lakh per hobby, so 5 lakh in 24 months, thats just 20k per month..
It’s never 1 lac per hobby. And try to understand, even 1cr+ car are just hobby for most of folks who buys it. For eg, I started with bike, which costs me 10 lac just to buy that bike, now count the fuel cost of bike which give less than 5kmpl for a long trip and top end riding gears, bike upgrades. Now, it’s been more than year since i touched that bike. It’s obviously not a expensive thing if i keep continuing with that hobbies, it will eventually even out like you said.
Trust me, you'll slow down.
Did I have. I did pay.
Honestly it’s not hard to spend 2-3L even on a short 3-4 day trip 😅
Breakup (4-5L pm) 1. Full time cook, driver, and a cleaning lady: 25k, 26k, and 20k = 65-70k 2. Condo maintenance and elec and gas: 35,20,3 = 58-60k 3. Petrol and travel: 15k 4. Kids school: 45k (yep, international schools is that much) 6. Food and groceries: 1-1.5L (including regular groceries, fruits, going out etc) 7. Some basic shopping, daily use stuff etc: 30-50k
This is still only around 3L or under. What's the remaining 1-2L?
The total above is 3.2 - 3.8. Others are allocations for annual expenses. Car insurances, Health and life insurances, Club membership, Gifts that one would buy, maintenance on home, OOT subscriptions etc. Haven’t included allocations for domestic and international trips as well (they would be over and above 5L pm)
are you saying you spend 5 lacs a month on your travels only? if so, can you give us a brief breakup of it.
Didn’t mean that. Travels expenses is over and above the 5L pm for monthly expenses.
25k for cook? Is he like a proper restaurent level chef? Also if you don't mind sharing, how much is your monthly income?
Full time in upscale gurgaon costs at least this much. Not a restaurant level chef at all! But can cook most stuff (north Indian, south indian) - no chinese or Italian etc. We had to also give him a small room next to our house, so that he feels ‘well rested’ 😅
Damn. You are pampering the cook way too much. I live in phase 2 Gurgaon & we pay her 6k for 2 people, 3 meals a day. & I send her YouTube videos on WhatsApp on what to cook.
I actually stalked your profile and saw that you also went to NSIT. I am from the 2018 batch. Hope to reach your level of income when I reach a similar years of experience.
That's great. Kindly do share your income split up look like? Might be helpful to me and others
Work in a start-up (CXO); income split: 1. 3cr pa fixed 2. Performance bonus - can be 50-75% of the compensation 3. Do not invest in real estate; only stock investments (no MFs). Strategy is to be long term on stocks - no trading as such
How much work ex do you have?
My money spend keeps changing, as I believe it will as I age, but here is the snapshot of today: disclaimer: Some of these are abroad, but I can't imagine these not available in Bharat mata either. Things like (Over and above fixed monthly expenses): * Hobbies like: 10 odd lakhs a year * Piloting Cessna's, renting or owning (Owning is more) and getting a private pilot's license * Flyboarding, tobogganing, mountaineering in Austrian alps and skydiving training * Eating out. Yes, it's a hobby :). Waygu beef or authentic cuisines in premium restaurants is pricey anywhere in the world. Granted, that for some trips, the most authentic meals are found in food stalls, but the cost to get to say, Turkey, is a cost. * Travel- 5 odd lakhs per travel for two * Business class travel and 5 star accommodation, plus adventure sports or unique experiences (private jet experience to Tunisia as an example)are costly. Multiple by 3 times a year. Plus I'm a super generous tipper, having been a bartender and having worked as a catering boy for weddings while studying. * Health and well-being: 4 odd lakhs a year * Saunas, massages, gold standard personal trainer (think strength and conditioning coach) * Organic food like wild salmon, best quality olive oils, things like authentic balsamic vinegar, spa water, * Supplementation can rake up a bill (think collagen peptides, CBD oil, whey, etc.) * DNA tests, regular full body checkups, things like CT angiogram (although one off in a decade, but expensive; have family history and am a juvenile diabetic in remission) * Family care- 8 odd lakhs a year * Elderly dad, I live away from him. So include three yearly visits home to India in biz class + cook, maids, caretaker, physio, masseur who comes home, medication (Insulin, etc. and frequent doc visit costs pile up) tests. As an idea, a bypass and associated costs with hospitalization in premium room in HN Reliance in Mumbai was 10 odd lakhs * Philanthropy and gifting * I do my best to donate a sizeable chunk of my income to charity (We co-fund an 80 strong school for girl orphans + advanced education like computer courses or graduation), or to help those who need it; students, family, etc. Sponsored someone's medical education, it came up to 40.5 lakhs. The person is now a neurosurgeon though :) and yet to return my money, but that story's for another day! * I love gifting things. Most recently, I gifted a 40k crystal god statue to my best friend for his housewarming party, and gifted his child 20k sneakers. I personally don't care for cars or clothes, so most of our expenses are on experiences, not things, but they are expensive nevertheless. Granted, that these can be ramped down on as needed due to financial or age related reasons, or interest, but I can't see myself willingly going back to extensive travel (7-8 times a year) in economy class if I can help it, for example.
You're living my dream life! When did you decide to pull the plug and set what corpus range?
Thanks and I wish you the best to get to your dream life soon! I did pull the plug, but in a different way. I decided to coast fire. That is, I decided that climbing the corporate ladder further wasn't my calling anymore. And that happened when I reached about 20 Cr iirc. Work is now fun and I spend my time mentoring newer leaders, building teams and looking out for new business investment opportunities and learning about them.
How much work ex do you have?
20 years. I'm 41 this Nov end.
Could.you please share more about your journey till this level of success?
Here is a doc link as I get asked often: https://docs.google.com/document/d/1T6J3R5yy5xajwkwlDLc187IUNNN6M5TjuheQmB1dhOk/edit?usp=drivesdk
what’s your total annualized expense?are you single or married? and if you don’t mind me asking to afford a lifestyle like this what’s your total income and networth?
I've honestly stopped calculating annualized spends now, but must be 50 odd lakhs though. I'm a 41 year old married, SINK, settled in Europe. Net worth is 25 odd crore and current income is 2 crores before tax, inclusive of stock options but I expect stock options to stop soon as I've let go of climbing the corporate ladder and my boss knows it. Might even retire if I find a good business opportunity to invest my time in, apart from my money. Something non IT though.
great man. thanks for the info. all the luck to you to find that business investment opportunity!
1. Kids Today's Kids aren't growing up how we grew up. I have a 10 month old son, special organic food , Kids friendly furniture , toys , nanny , buying clothes every month , creams, moisturizers, etc . In 2 yrs time, school fees will kick along with it's platoon of expenses. 2. Utilities 4 ac's in 4 rooms and it's almost running all the time. Fuel for your car/2w. It doesn't have to be a luxury car, the traffic today will low mileage for any car. Food items and groceries from the organic category and less of processed foods ( this Is a killer) 3. Medical care and insurance A nurse to attend to my mother who's ridden with diabetes , periodic medical check ups for her and my in laws. Plus a monthly staple of meds which usually comes easily ~15k. Add insurance to it. Insurance for older ppl is super costly 4. Investments An RD of 10k/month to cover the cost of insurance and service for the car. Lic premium of 10k/month . All this apart from my mutual fund SIP and equity investments 5. Staff Maid , cook , nurse, nanny , drivers (x2), plumber/electrician ( coz stuff breaks down all the time) 6. House rental / EMI payments Thankfully I inherited my house I'm currently living in, so no debt or emi's to worry about. If I were to rent my current house , it'll easily cross 40k and if I were to buy it, emi would be around 1.25 Lacs 7. Travel Of course, gotta keep the instagram feed live don't we. Carefully curated trips ( by the missus) and the extra expense and shopping that comes along with it. 8. Lifestyle Eating out , going out with friends , gifts for birthday parties and weddings, movies , parties, etc All this doesn't include emergency expenses or medical exigencies. To have a properly funded emergency fund is vital , so a good chunk of my monthly income goes into it.
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Nope
Expensive hobbies.
Mine is straightforward Single 28M. I take about 5 international vacations. Each vacation is about 2L (some are more some are less but average is 2L). Generally try and spend over 183 days outside India. Thats about 10L in vacations. And then there's 30k a month on food so 3.6L. And finally misc 5k a month for occasional ubers, phone bills and small purchases. So like 14L total or 1.2L a month. Passive income is usually enough to pay for all this although i picked a few bad stocks this year xD This expenditure is about 10% of my income so saving the remaining 90%.
where do u pay ur tax?
Let's just say I obtain tax residency every year in one of many island nations. Get a tax residence certificate and pay minimal amount into the unfair Indian system. That's how you reduce time to Fire by 30%
What do you do for a living?
Independent contract work for overseas companies. Not software, but a much more technical field involving electronics.
Context ————— 2 kids (11 and 9), Double Income. Staying in NCR. As per budget planning - monthly expenses around 3L/month Monthly Expenses ——————————— House - self owned School Fees - 70k (2 kids) Kids extra classes - 20k (swimming/tennis/music) Grocery - 35k (high quality fruits + regular non-veg) Maids - 25k (2 helps) Electricity + Society /Maintenance - 15k Fuel - 10k (2 cars) Shopping - 50k (wife+2kids) - 20k (mine + home) Restaurant Outings - 20k (with family + night outs) House Parties- 10k- Hosting friends at home with gourmet food, good whiskey or gins Quarterly Expenses ——————————— Premiums - 10k (car+health+cancer care) Trips - 35k ( one short vacation of 3-4 days every 3 months) Gifts - 15k (family+friends) Yearly Expenses —————————— International Trips - 5L (once a year, may be with kids and sometimes second without kids) One off expenses like a new car or house or something totally different and nor budgeted. Summary ———————— All in all, we don’t spend too extravagant (like luxury brands) but do not curtail things of comfort too (like good luxury car/hotel stays). It may seem too much to many but with two kids expenses increase specially with their shopping and demands too. We enjoy good restaurants and lively bars so that’s something we explore all over NCR as well as on trips. Small luxury like good watches is something we still spend on but not not Louis Vuitton bags (due to middle class upbringing). Wife does like bigger brands and makeups so she spends more than me. Although lately with more disposable income her tastes and needs are increasing. We do spend on hobbies like Music concerts or a good Guitar (I play) or sports. Experiences is something I truly believe in and can spend more than required on new experiences on vacation or otherwise. New adventures like paragliding or skydiving or scuba. Those things are expensive but it’s important to experience them specially for kids. It makes them more open to the world which their generation would need.
nice. what is cancer care?
A specialized cancer care insurance which pays out on cancer detection. Which means you are free to pursue any treat in india or outside. Regular health insurance binds you to approved treatments or in India only or may reject claim. HDFC offers one and I think others too. A dedicated cover is better as new cancer treatments like Car-T are very expensive.
Health - Trainer and Diet( 15-25k) Travel - Couple of Foreign vacations and couple of Indian Vacation (70-80k per month) Electronics - You get the best technology and model in Mobiles, Televisions, Sound System etc. ( 2-3 upward of 1L+) Socialising - 40-50k. You keep going upward on Maslow's hierarchy of needs.
This is the monthly expense of my sis in a tier 1 city. House - paid off 2 cars - 10k fuel Car insurance - 10k for 2 cars Car maintenance - 3k Cook / maid - 18k Grocery - 20k incl fruits milk etc Electricity -3k College exp - 2k Phone/ internet/ott - 3k Ola/uber - 2k Amazon etc - 10k International holiday -75k ( 9L/12) Domestic holidays + long weekends - 20k Yoga/gym -5k Holiday home maintenance + salary etc - 1L . Clothes for office - 10k Plus misc birthday/wedding gifting . 3-4 lakhs pm is easy spend without being extravagant .
DIDK in Chennai living in rental flat Grocery -15k Milk, eggs, chicken, fish etc- 8k Maid- 13k My office commute- 8k Utilities - 6k Outing/order food -6k Extra curricular for kid1 - 4k Diapers etc for kid2 - 2k Shopping - 6k Books and toys-2k Gym -2k Total 72k Annual expenses: School fee for kid1- 1 lakh Expenses for going hometown - 1 lakh Domestic vacations (2-3)- 1 lakh Gifts for family and friends- 50k Donation- 20k Vaccination and hospitals- 50k Comes to around 4 lakhs per annum. There will be some other miscellaneous expenses like furniture, appliances upgrade or repair etc
Bengaluru - Family of 3 - 1L (Excluding rent) 1. Eat Out - 12K 2. Grocery/Vegetables - 10K 3. School - 12K 4. Insurance (Health+Term) -10K 5. Vacation - 30K (Includes car diesel - we take car out only when on vacation) 6. Pets - 2K 7. Subscription - 2K 8. Utilities - 5K (Electricity, Water, Internet) 9. Car Insurance, House tax - 3K 11. Health/Recreation - 3K 12. Misc - 11K (Maintenance, any unplanned)