Highly agree with this. The efforts you would put in for preparing yourself will wont make a dent in long term. But this time where you have job security and mentally free will never come back.
My friend, you doing good. Adjust according as things fall out from the plan.
But here are few observations -
Short answer: Avoid car and increase investments, rest looks good for a happening life....enjoy it.
Long answer:1. Getting a car might not be the best financial decision. In a city like Bombay it can also be mentally exhausting to drive in such traffic.
2. Bumping up savings could help but not at the cost of living life in your early years. Having money to enjoy with your partner/friends holds higher value than putting it in a 7% FD and sitting alone at home.
3. Investments:
3k investments is very less to be honest. You have to start the magic of compounding at the early stage of life, hence adding a bit more could boost your savings substantially in the future. Try aiming it towards 15-25k per month depending on how happening life is during each month.
Further, instead of keeping savings in your bank account replace it with FD (unless you need that money in coming 1.5 years).
Also, you could be better off to not count bonus as your income for this financial planning as it will help you be more conservative.
Have fun!
But here are few observations -
Short answer: Avoid car and increase investments, rest looks good for a happening life....enjoy it.
Long answer:1. Getting a car might not be the best financial decision. In a city like Bombay it can also be mentally exhausting to drive in such traffic.
2. Bumping up savings could help but not at the cost of living life in your early years. Having money to enjoy with your partner/friends holds higher value than putting it in a 7% FD and sitting alone at home.
3. Investments:
3k investments is very less to be honest. You have to start the magic of compounding at the early stage of life, hence adding a bit more could boost your savings substantially in the future. Try aiming it towards 15-25k per month depending on how happening life is during each month.
Further, instead of keeping savings in your bank account replace it with FD (unless you need that money in coming 1.5 years).
Also, you could be better off to not count bonus as your income for this financial planning as it will help you be more conservative.
Have we made the communication channel or should I send out a discord server?