Age 35, India. ₹37L in Mutual Funds + Equities, ~₹48L including EPF & NPS. No house, currently living on rent — am I on the right track?
I am 35 year old and have been investing since 2022 with the goal of building a long term financial security.
Posting this mainly to get some honest feedback and motivation from people who are investing for longer.
I currently don't own a house and staying in rent. I own a car and bike. Additionally, I have one personal loan of 95k.
Invested Total: 26.07L
Current Total:31.13L
I know there is some overlap especially among mid and small cap mutual funds. I am going to continue investing only in one small cap, midcap, flexi, and one large eventually.
Equities: Invested Total: 5.50L and Current Total: 5.92L.
I have exited from RBL Bank and Suzlon and moved those stock values to HDFC bank, Infosys, BEL and PFC.
Overall Financial Position:
Mutual Funds - 31.4L
Cash in hand - 12L (6L emergency fund + 6L for opportunity cash for future investments)
Equities - 5.95L
NPS - 1.75L
EPF - 8.96L (Including pension share).
SSY - 7.5L current balance.
Personal loan outstanding - 95k.
Current Target after my monthly expenses.
75,000/month --> Mutual funds + equity.
12,500/month --> SSY.
5,000/month --> NPS.
30,000/month --> EPF. (Both employee + (employer + pension))
10,000/month --> Savings for opportunity cash.
What I am looking for?
At 35, am I reasonably on track?
A lot of people around me believe buying a house should be priority. According to them, I can convert my rent as EMI and buy a house. But, I am not convinced that taking a large home loan simply because "rent is wasted money" is necessarily the best financial decision.
I would like to hear from people who chose to rent and invest instead of buying a house.
I am not looking for stock/mutual fund tips. I am more interested in feedback on the overall portfolio, allocations, Rent vs buying a house, and any mistakes or risks I may be overlooking.
Would appreciate brutally honest feedback from people who have been through this stage already.
Edit:
Take home salary 2,15,000 per month. (Including 30k EPF)
Dependents: Wife and Daughter.
Monthly expenses - 50k per month. (Excluding annual school fee for daughter).