"Asset rich and cash poor", suggest what you would do if we were in my position. I need honest perspectives.
I would like to increase/improve our lifestyle, since I think we have significant wealth, but don't know how to.
No liquid assets (as stock, MF, bonds, cash)
Family of 4 (I'm younger son)
Annual income - 20 LPA (Me) + 25 LPA (Elder Brother) + 50 LPA (Father)
Gold - 4kgs ~4.5 cr worth (current market value 2026)
Land Estimated lower bound - upperbound, high variability according to proximal sale prices is
20cr (Lower Bound) - 40cr (Upper Bound).
Annual expenses : 20-25 Lakhs.
Questions :
What would you do in my situation?
How to diversify the portfolio?
Can we increase our annual expenditure? If yes till what, for optimal sustainability in the long term.
Should I liquidise assets and start a business?
The wealth is high but there is no passive income.
Could we fire?
How to setup passive income generators?
Could we sustain buying a luxury car (no car currently), luxurious house? If yes, what should be that calculation.
Habits:
We are very stringent on our spendings, but I would like to be more on the spending side, but within limits.
We live in a old poor looking house with very cheap interiors, a very middle class looking house.
Very financially illiterate parent who live on some ideal advices by taught by my grandparents.
No cars currently owned that are good (we own a ertiga)
Help me, with the right decisions, "I can't get my parents to meet a financial analyser", they think Im crazy/taboo, everytime I try bringing up wealth managment tips, I have got to convince them somehow. Im burning with frustration. Am I wrong?
Edit : We all 3 live in different cities (states) and miss each other, thats why I feel a need to restructure ourselves, without shooting ourselves in our foot.
Thanks in advance.