Me 1:Are you out of your mind?
Me 2: No
Me 1: Why the hell do you want to pack placements?
Me 2: Placements is the 2nd option. When have I started putting that much fight for my second option?
Me 1: ok ok. What if you screw up the first option?
Me 2: Dude Ravikanth! Are you out of your mind? When have u started looking for options instead of fixing whatever is wrong with the first option.
Me 1: ohh ya true. hmmm
Me 1 and Me 2 agree on the same thing. I pack placements.Thats the story of my placements.
I wanted to start up from the time I heard the way start ups work. ohhh!! Wait! what? I am supposed to talk about "How much money do you want to live?". Ya ya ya I know. Please hold on- This is the primer :). I dont want you to be bored at the beginning of my blog post.
Its quite frightening and annoying to not sit for placements. Its a nice experience. I had fun not sitting :). At this juncture I started reasoning myself with those endless whys? (people who know me are supposed to smile at this point. if you know and if u dint, do it :P). So I decided to figure out how much money I would be needing.
What do you need for a comfortable living?
hmm. lets see.
6BHK(ya 6 bedroom house), One bike, One SUV, one convertible, a cook (to cook food for u), two servants to help you out at home.
What could be your monthly expenses?
Food - Rs.30,000(Fair enough?includes the cook salary)
Shelter- Rs.40,000(I have no clue what I am going to do with 6 bedrooms :P)
Clothing - Rs.20,000(should be ok)
Salary to both servants- Rs.15000(total)
Maintenance - Rs.25000(power,pay some insurance for yourself and stuff u want to insure)
So far its 1.3 lakhs. Let me make it 2 lakhs to be on safe side.
How much money do u think u will need for living like this for 100 years? 2lakhs*12months*100years= 24 crores. I need 3 more crores to buy what I started out with(the bike, house etc). This is the money I need now assuming i live 100 years. I already lived 20 years and I dont think I will more than 80 years. so 40 years are gone. It dropped down to 14.4 crores plus the 3 crores to start with. So its about 17.4 crores.
Ohh yes. I know I have not counted inflation. I have calculated the net present value.
This is a formidable target if you want to do a job and earn that much. No job pays u that much. Why put yourself through a job which does not help anyway?
This to me does not sound like an unbeatable target at all if you start up. I am not joking.I strongly believe it is not one for a lot of my friends. There are at least 20 ppl in my hometown who dont have a degree and have 100 crore worth of assets which they earned.
Why is liking your work so important? Whatever u do you eventually want to enjoy. Sadly work takes most of your time. Do you want to be happy most of the time and sad for a small amount of time (to start with) or the other way round?
There are some jobs which are fun to work and pay a lot but you don't feel satisfied with the work. The way they live is by conning themselves for their life. works for them :)
I want all three - fun, satisfaction, money :P some believe its not possible. I believe it is possible. Lets see :) cya!
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Which startup?
ReplyDeleteI am planning to start up in air conditioning. No way related to aero though :) I was looking for partners. Suddenly I got a rare offer from invention labs(a start up of our senior). They have a good engineering team and have seen the environment. Right now the plan is to team up with him. We are still talking though.
ReplyDeleteNice..all the best for your startup..
ReplyDeleteI think if you don't get married, you need just 20k to live a peaceful life.
Have you asked yourself whether you love refrigeration, air-conditioning etc. significantly more than something in Aero itself?
ReplyDeleteLOL! Now, when you put it that way, I feel so bad all my efforts are going towards getting a nice job :D Anyway, all the best for your start-up! - Jyo
ReplyDelete@Rakesh - I know what I actually love - coming up with new ideas and implementing them. Its not about aero or mech or elec. If you see the way i lived I always stuck to new stuff aero club, cfi (new places), new projects. You need huge investments for aero. I have to get my foothold now with other engineering branches
ReplyDelete@jyo - pleasant surprise. Actually you might get a job which pays that much but then u will always end up trading time and money. This is not something i look for.
@ Jayanth, Naveen, Rakesh Jyo - thanks for commenting :)
I guess i am the only guy around here who actually knnew you when you wrote only JEE with out any thought of a "second option".
ReplyDeleteWell you have not changed :). All the best with everything
i dont agree with u RAVI...
ReplyDelete'start up'doesnt mean dat u have to do dat at the very beggining of ur career ..
let me xplain..if u see someone on karizma and get fascinated(its quite common) . gettin a bike itself wont do da work dude..its also imp dat u shud drive it well .so i think firstly learnin a bicycle wud be better ....
ur ideaz r superb but to implement dem in a better way i think u need experience and 2 years of job wont spoil ur valuable tym but adds a lot to ur beautiful career...
anywayz i find it so good coz one needs guts 2 do this ..and u r doin..
all da best
kool ra. if its air conditioning i ve some ideas to suggest. catch me up some time. i guess u already know wat i know (knowing how u think,;-)).
ReplyDelete@namputo- how come u stopped blogging?
ReplyDelete@Srikanth-when you start up u dont do it alone. If you want experience get a guy with experience into the team.
@Teza- Hi ra. long time no conversation. I guess u might already know what i am thinking :)
Quite convincing RaviKanth... Great calculations, thanks to your math work.. But what fascinates me is that such a great excerpt lacks the inclusion of growth in life.. You've always thought to be sufficed with your handful of pleasures (house etc.. etc..) Better think of having a positive slope in your life graph..
ReplyDeleteAll the best for your start up.. You'll be great dude..
you have a bigger YES to your first option than to even consider the second option. i am awed to know that jee was your only option. i appreciate your guts !!
ReplyDeletethe calculations are very impressive :P now i can direct ppl with dilution between job and start up to your blog for clarity as to how much money they can earn !:)
all the best, get going :)
Dude. Weak assumption. You forgot expenses for your wife and kids. Also, seeing your lifestyle, you'll probably spoil your kids, which means you'll have to pay through your nose for their college degrees. Add all that cost also.
ReplyDelete@Amrut-
ReplyDeleteLets see
1)none of the expenses will increase by a large amount. You could add another 20k but that is still under 2 lakhs
2) your life style does not spoil kids. Its your character which spoils kids. This is almost always the case.(You cant be unethical and ask your kids to be truthful). For instance, Dad gets a phone call when he is tired. He asks his wife to tell the caller that he is not at home. Kid watches - infers u can lie if u want :). The dad complains that his kid lies :)
There is another problem. Same motivations wont work for dad and son. Dad comes from a poor family and thinks money is extremely important. Kid does not think that way. You cant motivate the kid asking him to work for money. You need to show different motivation. Most parents fail at that.
Well I am probably talking like a vetaran parent :P. Thats my side of argument.
College degrees? I dont think so :) IIT Education was not costly to me. This expenses are bearable. But may be you could add a few crores. Lets say 25crores? what say?
I say that even 1.3/2 lakhs per month is not sufficient. You seem to be happy with the idea that 2 lakhs is sufficient probably because you are spending much less now. When you actually are spending 2 lakhs per month, I am sure you would want to spend even more.
ReplyDeleteCalculations are fine when you consider the things are going to be constant!! but dont you think within coming 60 years of your life a lots of things are going to change and cost wise you may need a lot of money, you never know when you may get some situation where you have to pay someone a huge amount ( for example you consider some police case) . My objective here is not to tell you the negative aspect of thinking but what I mean is the "Uncertainty Principle of Life." Whatever option you choose either going for a job or a career where you can earn 100 crores . The objective has to be more clear. Then you put options considering their pros and cons. Yes, there has to be a trade-off between money, the work profile what you do and but for a creative mind you don't need to have a lot of money. Personal opinion is that you live life as it comes but at that moment try to make the best out of it and try to make a platform for coming life but not for whole life. Dont take the fun out of the uncertainty!! Its good if you go for some other career option but make sure you always keep enjoying that, if at some other point of time in your life if you feel money is no more your priority, dont be afraid of quitting from there and I believe you will never be afraid in doing so!! Right way of living a life but dont forget to live the life to make that money!! All the Best!! :)
ReplyDelete@ autumn glaze
ReplyDeleteIn ur 2yrs of work ex u will lose all the creativity u had and there will be nothing much that u gain. Either go for a start up or be an entrepreneur after ample exposure to corporate world.
@Ravikanth
I am wondered to see why people are so carried away with the rubbish figures u mentioned only to show a large amount there. Anyways, when u are going for a start-up, it sud be driven by passion. It doesn't mean that one sud not consider money but there sud be a balance. When u r passionate in doing something just go with it. If money is ur aim, failures in some cases may demoralize u. Whereas, passion always keeps u driving. Though u mentioned some figures here, u seem to be passionate too (evident from u not sitting for placements). Wish u all the luck in ur journey!
Great idea dude. But, are you sure that you want 1.3 or 2 lakhs for a comfortable living? you need to think more about what you mean is comfort.
ReplyDeleteThere are 2 options. "Be happy with what you have" or "Go for the thing which makes you happy."
@everyone and Ajay in particular - point taken. The whole idea of me doing this calculaiton is just to project an order of magnitude of the money one would be dealing for a certain life style. i dont think I have done a bad job. Thank you for wishing me luck
ReplyDelete@Nesh- I like your uncertainity funda :)
@Shashank - As usual you have your style in your answers :)
ya, in first year you wanted to app in aero
ReplyDeletesecond year, you wanted to become a pilot by taking pilot training ( u estimated the cost to be 5 lakhs) i remember and talking to profs about it.
said ur parents were ok with it.
Then, i think u converted to mtech --- dont know why?
now, u want to start up bcoz 100 guys in ur town have 100 crore assets now!
i dont know what u want the next year?
u want to be a movie actor so that....?
- Guess me, i know u well!
Very objective! I'm sure a start up will give you the experience that 10 years of job may not give. I'm confident you come out successful (not necessarily money-wise :) ). Be happy with what you have or go for things that make you happy.. watever it is, be happy!
ReplyDelete@anonymous -
ReplyDeletenice trip. I still want to app(not right now). I still want to learn flying. There is a flying school in Florida where u can learn flying in 1 month - fast track. As it stands it costs 8 lakhs. It is just that now I dont want to fly all the time :P. It is just that I dont have money to own a plane to fly one if I dont become a professional pilot I know why I converted to mtech :P. I dont want to earn 100crores because 100 guys in my town have it :P. movie actor - hmmm - nice idea let me think about it.
you sound a lot like sampath.
@pratyu - Thank you :) How is boston? Dont give me the temperature!
@everyone - I cant believe I am getting so many comments for my first post! I will pinch myself - ouch its real!
Only 1 thing to be said: Amount of money needed to live comfortably varies hugely from person to person. A homeless guy would be happy with 5000 rupees per month, a poor family would be happy with 20000 per month, you apparently will be happy with 2 lakhs per month. The correct logic for a happy life seems to be loving what you do, rightly said. Cheers!
ReplyDeletePS: I bet you could capture all the photos of yours on the top of your blog by taking a 1 sec video and taking screenshots.
-Anonymouse :P
@Anonymous -
ReplyDeleteReveal urself :P(as if u would do if I ask :)). I have already explained I was just trying to give a financial perspective of long life! Its not my life. I dont know if I will want to be filthy rich after some time :P
"Plan everything and you will miss all the fun" is my fundae. obvly urs is different but nice try .By the time you think you have earned enough(though ppl never think they have earned enough),your interests will definitely change and you will have more issues to consider(your kid might ask you to fit an elephant in a bottle :P)which makes your schedule very tight.So dont think too much.. just do whatever you feel like doing. Dont live a calculated life.
ReplyDelete@anonymous - I agree with you but I need one clarification. Where is the plan? I dont think I have made one :) I only chose a direction
ReplyDeleteYou know, there IS a reason why everyone in the world does not choose a start-up as their first career option...
ReplyDeleteEver heard of a little concept called risk? It has sunk many wannabe entrepreneurs, capable and clueless, and it has the potential to sink you too, if you don't play your cards right.
hehe. Ya heard of it :) want to see how risk feels like.
ReplyDeletewat u tld wrks out in an optimistic situ .. wt abt da other phase... anyway u proved ur love towards maths... gud one..
ReplyDeleteI appreciate your guts to take life bang on and jump into a start-up. Where there is satisfaction, money doesn't matter at all.
ReplyDeleteGood luck 4 a successful venture!