India beat Pakistan 5-3 : This Isn't a Rivalry Anymore
Pakistan tried hard but they were not able to match quality wise. They have energy and youth but quality leaves a lot to be desired.
India vs Pakistan is becoming boring in all sports. Rude Australians are better for rivalry.
I am 38 married with a kid. Wife is earning well and saves well, around 1 lakh per month. She doesn't intend to bear household expenses though. Only some lifestyle expenses for herself.
I quit recently due to toxic work culture after I switched last year.
Both my parents are alive but they live in my hometown. They have their own savings. They keep their money etc separate and I like it that way.
I live in a tier 2 city (state capital). My monthly family expenses are 1 lakh. This covers everything. Expenses are not going to rise for next 10-12 years unless some major tragedy happens.
My savings -
PPF+NPS+EPF+FD - 30 L
Stocks and MF - 50 L
Gold (coins and pieces) - 15 L (not including wife's anything)
Property - 1 flat worth 1 crore in hometown
Share from ancestral stuff - 50L (might not get as wife wants to buy house in current city and this money will be used as down payment)
My last salary was 1.5 lakh from which I saved 50k approx every month apart from forced savings like epf ppf nps etc.
I have a side hustle which averages 50k per month income which I can do long term.
My questions -
Can a person in my situation even think of retirement?
Too many unexpected events can happen in life, how do people take care of them? Insurance?
Considering I have so many liabilities & uncertainties, doing lots of insurances like life, health and maybe some others, should I build a large corpus and set it aside instead?
I graduated in 2013 from an old IIM. After a long journey, I am now running my own recruitment business. My last corporate stint was HR Head. For last 12 years, I have taken minimum 300 unique interviews each year. So, I have a huge dataset of graduates in multiple streams - science, engineering, commerce, arts, business, etc. and from ages 20 to 40.
AMA.
My free advice (not ragebait)
Approx 10% Graduates from all top IIMs from 2005 to 2026 batch are currently jobless and this number will sustain and has sustained for long now.
And this number doesn't include underpaid ones and those who joined PSU or govt sector. Also, it doesn't include large numbers who are running solo firms, individual consultancy type small scale and unstable business.
MBA is primarily for good looking, smooth talking and cunning people. And no, the course won't teach you any of these. And yes, all 3 skills are mandatory. So, don't run blindly after an MBA. Life can get really tough.