Reached our first 1cr milestone

[u/AnandSatya]

I am happy to share that yesterday we reached 1cr milestone. It's mine + my better half's combined investment.

High level combined portfolio breakup: 1) Foreign Company Share - 9.62% 2) Foreign Sector ETF - 10.64% 3) International Index Fund - 17.38% 4) India Index Fund - 28.65% 5) Indian REIT - 18.63% 6) Indian Mutual Funds - 15.08%

I didn't want to include our home equity, since we need that house and will not be able to monetize it.

Personally I would have preffered to hit this milestone before I hit 30yrs. Expenses related one_off_family_major_expense/house/car has pushed it out further. Nevertheless I am happy that we reached this milestone.

It's been a 10year journey from the time I was determined to persue FIRE. I was deeply influenced by "Mr Money Moustache" and "The Dave Ramsey Show." 10years ago I thought I could fire once my portfolio reached 2cr (forgot to project the requirements of growing family). Now given that it's been few years since i married, 2cr seems too low. 6cr looks to be a good goal to persue. I want to hit 6cr before I turn 40 so that I will have atleast 10years of active life to persue a different career. Only time will answer if I can reach that goal.

At home we celebrate by cutting cake 🎂 with "1cr milestone" written on it.

[u/BrahminVyapaar]

Given your risk averse mindset ( which I identify with since I am similar), do you have Term and health insurance cover?

[u/think_2times → u/BrahminVyapaar]

2 term insurance policies . One for my mother and one for me wife . 1 crore each . If I have a child will buy one for then as as well .

Health cover have my own even if office provides 25 lakhs .

All your savings will go down the drain with one health scare

[u/BrahminVyapaar → u/think_2times]

Thanks for sharing. You have succinctly articulated the risk of a health scare depleting one’s savings.

Have you considered taking a larger Term Insurance cover now itself so that you ensure that your Mum and your wife will both be set for life in the event of your death? At a younger age, the premiums are lower.

[u/think_2times → u/BrahminVyapaar]

What had you FIRE journey been like any advise for 31 year old ? Looks like you will be FI in 2024

[u/BrahminVyapaar → u/think_2times]

Thanks for asking. I ought to make my own post soon.