Viraj Khatavkar
October 2020 Personal Net Worth Update

What this update is about?

I have seen many people from the USA's personal finance community who share their personal net-worth updates every month. Surpisingly, these people are not high earners. They simply follow the basic rules of living below the means, save a lot, and invest in appreciating assets. Reading their monthly progress inspired me a lot when I was getting started to think about financial independence. Unfortunately, I haven't seen anyone in the Indian community do the same and be transparent. This moment motivated me to think about why shouldn't I start being open about it? Eventually, I decided to go ahead and post my monthly update every month. Even if one person gets inspired to start on their journey towards financial independence by reading about my progress, I'd be satisfied with this blog's purpose.

October Update

Before going into the details, here are some of the abbreviations:

  • Equity Assets = Stocks + ELSS + Equity Mutual Funds
  • Debt Funds = Liquid + Debt Mutual Funds
  • Cash = Total balance in savings + current account + FD/RD
  • Other Assets = Small Loans given to friends & family
  • Liabilites = Pending principal on my personal loan

Total net-worth = (Equity Assets + Debt Funds + Cash + Other Assets) - Liabilities

House / Car

I don't own any house or car. I stay in a one-bedroom apartment with my parents. Once I get married, we'll move to a bigger house on rent. My goal is to buy a home in 5-8 years.

I don't own a car as well. I'll buy a car when I can pay it without a loan, and all my liabilities are totally paid off.

Financial Goal

My goal is to be financially independent by the age of 38. I want money, not to spend it but to have a choice! The freedom to decide whether I want to work or not. The freedom to spend enough time with my family, watch my kids grow up, to not miss their life just go by and having the option to spend time on my hobbies like reading, cooking, or fun projects.

More on this topic:

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I’m on Twitter, @virajkhatavkar

If you have feedback, feel free to write me at viraj@virajkhatavkar.com. I guarantee I'll read it, and likely will respond.