₹ 7 lakh salary, ₹ 82 lakh savings: Why this 29-year-old Indian engineer still moonlights | Today’s news
An Indian software professional revealed that he earns around ₹7 million per month for working two full-time IT positions. Despite his high income, he is said to be constantly worried about financial security and the impact of artificial intelligence on the labor market.
In the personal finance podcast Fix Your Finance, hosted by mutual fund advisor Anshuman Sharma, 29-year-old Rohit said he spends 16 hours a day working for two companies – one during the day and one at night.
“I work for two companies – one during the day and one at night,” Rohit said, adding that one of the jobs is for a US-based company.
Explaining why he still works such long hours, Rohit said that his family’s financial problems during his childhood still affect him.
He recalled that his brother had to give up his education to continue his studies.
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“Only one person could study… so my brother taught me. It’s like a burden for me that if I can’t do it, it’s like a family failure,” he said.
Rohit said that sense of responsibility remained with him even after his earnings increased.
Fatherhood, buying a house and fears about artificial intelligence add to the pressure
Rohit said becoming a father brought new financial responsibilities.
“I became a father… my family asked me to buy a car,” said the Indian employee.
Soon after, he bought a new car and bought a ₹85 lakh”>2BHK flat ₹85 million. Although he now earns a high salary, he is still worried about the future due to the rapid development of artificial intelligence.
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“The thing is, I do IT work and you know, AI is booming,” Rohit said. “I mean, if something went wrong, my income just went down. How am I going to handle that?”
It has ₹82 million savings but still feels insecure
During the interview, Rohit shared details about his investments and savings.
“I hit 70 crore yesterday in my mutual funds, 2 crore in stock market and yes 10 crore in FD,” he said.
His savings are quite around ₹82 lakhs, but said his future monthly expenses are likely to be between ₹1.3 million and ₹1.4 million. Once he gets possession of his flat, he expects to pay the home loan EMI ₹60,000, along with car EMI ₹28,000.
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Responding to his concerns, Sharma asked, “You have 4 years of your expenses saved up in your assets. What is this stress?”
The goal is to save ₹7-8 million before the slowdown
Rohit admitted that his busy schedule leaves him with very little personal time.
“It’s very rare that I give time to people and everything. So in that situation I want to go out,” he said.
Asked by Sharma if he would consider quitting one of his jobs to improve his work-life balance, Rohit said he had set a financial goal before taking that decision.
“In the next 5 to 6 years, I want to save up to 7 or 8 crores. Then I will just leave the job and continue only my work in the US,” said Rohit.
