₹9 crore at 32? SIPs helped. So did loans and family
Would you have clicked this article if the headline was:
"₹9 crore net worth at 32? #SIPs helped. So did #Loans, #Family support & a major #Assumption"
Probably not.
His Assets breakup -
- ₹2.56 crore in MFs, with a SIP of ₹1.5L per month
- ₹4.7 crore estimated property value
- ₹1.8 crore in other Financial assets
Sounds impressive, but let's dig deeper -
How did the ₹2.56 crore MF corpus get built?
His salary was ₹4.5L in 2017, ₹18L in 2020 and ₹40L in 2022.
With a SIP of ₹1.5L, assuming 12% returns, it would take roughly 8 years to reach ₹2.56 crore.
So he would have had to start investing around 8 years ago, when his salary was definitely much lower than ₹1.5L per month!
Numbers don't match!
And then there is the house, his biggest asset!
Bought for ₹2.5 crore in 2021, with ₹50L from his parents and a ₹2 crore loan.
So literally, he paid nothing from his pocket!
Today, he estimates it at ₹4.5–4.7 crore.
Possible?
A property's real value is ultimately determined by what a willing buyer will actually pay for that 'specific' property.
Not the builder's latest price. Not the price at which the neighbour sold his flat.
So take that 'assumption' with a lot of salt!
And his wife, a senior IT professional, contributes significantly to household expenses.
So, a significant portion of 'his' earnings could go towards investments.
Most of us react to headlines and rarely read the complete article.
#Clickbait is the latest trend!
Sad to see even premium business publications behaving like #influencers!
I genuinely hope the person has the assets he claims.
Because he ticks all the right boxes in Personal finance (Consistency, no lifestyle inflation, not running after the best funds, etc).
Maybe the article misses the extra investments he forgot to mention!
For those feeling left out or demotivated after reading the headline:
There is always a story behind the number.
Sadly, most of us don't have the time to look for it.
We are headline warriors!
We form perceptions from the opening line!
#MoneyMinusNoise
Don't just consume financial headlines.
Read the complete article.
Question the numbers.
Understand the context.
I help simplify Personal Finance, Taxation, and Credit Card decisions by bringing in practicality.
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