While today’s youth plan to spend their first salary on partying, buying gadgets and travelling, a young man from Mumbai thought of something on the very first day of his job, which social media But it has created an uproar. The age of this boy is only 22 years, his salary is going to start from Rs 1 lakh per month, but retirement plans are already running in his mind. The young man has shared a post on Reddit, which is becoming increasingly viral. People are surprised to see the young man’s maturity or excessive worry.
The young man told on Reddit that he is going to join a job with a salary of Rs 1 lakh. But the surprising thing is that instead of waiting till the age of 30 or 40, he wants to plan his retirement on the very first day of his career. According to the young man, even a salary of Rs 1 lakh falls short in a city like Mumbai. He told that his monthly budget could be something like this.
‘Mumbai is very expensive, what will happen in 20 thousand?’
The young man told that Rs 30 thousand will go towards rent. Ration, electricity and transportation alone will cost Rs 20 thousand. I will send 30 thousand rupees to my family every month. In all, 80 thousand rupees were spent here. After this, only 20 thousand will be left in my hand, which I am thinking of investing. Even though a monthly savings of 20 thousand at the age of 22 may seem good to many people, but this boy also finds this amount very less. He says that this amount is very small considering Mumbai’s inflation and future economic freedom.
The young man asked people on Reddit, where and how should I invest this money? Should I build a big fund for retirement or skip the headache of investing and focus on increasing my income? Also read: Aslam Bhai’s wrath on the internet! This rickshaw puller speaks very fluent Spanish, not broken.
The young man’s post spread like wildfire in no time. Netizens are giving various types of advice which can be really useful to every working person. One user wrote, before investing, prepare an emergency fund of Rs 5 lakh. If you want, you can start SIP of Rs 18 thousand and Rs 2 thousand in emergency fund. Also read: Salary Rs 2.2 lakh, but zero savings! You will be shocked after seeing the budget of this Mumbai couple.
Another said, term insurance and health insurance should be taken immediately at this age. The premium will also be very low, which will save a lot of money in the future. Another user said, for now, focus on increasing your skills, so that the salary reaches from 1 lakh to 2-3 lakh. This will give you financial freedom in future. Also read: The faint of heart should not watch! The last hair-raising video of Yemen’s famous ‘Spider-Man’ goes viral
Disclaimer: This news is based on viral social media posts and reactions of netizens. TV9 Bharatvarsha does not independently verify the authenticity of any claims made in this post.
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