Rs 10 Lakh Per Month: Ambitious Or Achievable? Here's A Reality Check Of Your Financial Goals 

My spouse believes we request to gain astatine slightest Rs 10 lakh per period to unrecorded comfortably and support semipermanent goals for illustration sending our children overseas for higher education. On apical of my full-time work, I negociate to gain an further Rs 30K–Rs 40K per month. My savings are humble since I’ve only been earning decently for nan past 2 years aft completing my training. Here's wherever we presently guidelines financially:

Rs 10 lakh successful communal funds

Rs 3 lakh successful stocks

Rs 80K successful NPS

Rs 2 lakh successful PPF

My semipermanent goals:

Own a Rs 1.5 crore location successful 3 years

Buy a Rs 3 crore rental spot successful 10 years (yield is not nan priority)

Allocate Rs 1 crore for our child’s overseas acquisition successful 15 years

Set speech Rs 50 lakh for nan child’s matrimony successful 20 years

Start a playschool successful 20 years—my individual passion

Achieve financial independency by property 55 (current expenses: ₹80K/month)

I request clarity: are these goals realistically achievable pinch our existent trajectory, particularly if my income drops to Rs 2 lakh per period successful pursuit of a amended work-life balance?

Advice by Akhil Rathi, Senior Vice President, Financial Concierge astatine 1 Finance

It’s awesome that you’ve intelligibly outlined your life goals—having some individual and financial milestones springiness guidance and intent to your efforts. Some of your goals, for illustration securing your child’s acquisition and marriage, readying for retirement, and owning a home, are basal and time-bound. Others, for illustration starting a playschool aliases buying a rental property, are passion-driven and tin beryllium much flexible. Recognizing this quality will thief you make applicable financial decisions without emotion overwhelmed.

You’ve built a bully foundation, considering your dependable income shape began only 2 years ago. With astir Rs 15–16 lakh already invested, you’re disconnected to a decent start. However, immoderate upcoming goals—like purchasing a location successful 3 years aliases backing overseas education—will require focused and accordant saving. These goals are achievable if your income remains beardown and you're capable to support disciplined monthly investments. If those savings proceed complete nan adjacent fewer years, you tin gradually tick disconnected nan bigger goals without excessively overmuch pressure.

But things will alteration if your income drops to Rs 2 lakh/month for a amended work-life balance. After covering family expenses, nan magnitude near for investments would shrink significantly. Trying to activity toward each your goals simultaneously astatine that constituent whitethorn origin accent aliases discuss your bid of mind. That’s why it’s important to prioritize. Focus first connected nan basal goals—your child’s acquisition and your retirement. The remainder tin beryllium adjusted successful standard aliases pushed somewhat up depending connected really things evolve.

Right now, you’re successful a bully position to build momentum. Use this shape of higher income to front-load your investments into cardinal goals. Start milestone-specific SIPs, way your advancement yearly, and stay unfastened to adjusting timelines arsenic life unfolds. You don’t request to springiness up immoderate of your dreams—just approach

them successful a phased manner. If you enactment accordant and intentional pinch your money choices, some your financial information and individual aspirations tin beryllium good wrong reach.

Published on: May 9, 2025 10:38 AM IST