1 week ago
Engineer Builds Rs 1.03 Crore While Supporting Two Homes
Mayuresh Jadav started working in 2013 with a salary of Rs 9,800 a month.
He sent much of his early income to help his family.
In 2017, he began investing Rs 2,500 every month in a mutual fund.
As his salary increased, he increased his investments too.
His employer contributions helped his EPF grow to Rs 32 lakh.
He also bought a home in Pune, but he gives its rent to his parents instead of keeping it.
Mayuresh lives in a rented home in Thane because buying there would be expensive.
He now has about Rs 1.03 crore in financial assets and hopes to become financially independent.
Mayuresh Jadav, 35, has built about Rs 1.03 crore in financial assets while supporting his retired parents.
His Pune 2 BHK earns around Rs 28,000 in monthly rent, which he sends entirely to his parents in Nashik.
He started investing with a Rs 2,500 monthly SIP in 2017 and gradually increased it to around Rs 70,000.
His corpus includes Rs 40 lakh in mutual funds, Rs 32 lakh in EPF, and about Rs 10 lakh each in US stocks and emergency funds.
Now debt-free, he rents in Thane for Rs 38,000 monthly and is weighing flexibility against buying another home.
- Who
- Mayuresh Jadav, a 35-year-old engineer, along with his retired parents and wife.
- What
- Jadav built about Rs 1.03 crore in financial assets while using rent from his Pune property to support his parents.
- Where
- He grew up in Nashik, owns a 2 BHK in Baner, Pune, supports his parents in Nashik, and currently rents in Thane.
- When
- He began working in 2013, started his first SIP in April 2017, and reported reaching this position at age 35; the article gives 2026 figures for his income and property value.
- Why
- His wealth grew through rising income, increasing SIP contributions, EPF accumulation, loan repayment, and sustained saving while meeting family responsibilities.
Rent-and-flexibility case
Buy-and-certainty case
Monthly housing cost
Rent-and-flexibility case
Renting costs Jadav Rs 38,000 a month currently and avoids taking another large home loan.
Buy-and-certainty case
Buying a home could require an estimated EMI of Rs 75,000 to Rs 85,000 monthly, but would provide ownership and greater housing certainty.
Financial trade-off
Rent-and-flexibility case
Renting preserves flexibility and avoids projected interest payments of roughly Rs 93 lakh to Rs 1.06 crore on a potential 20-year loan.
Buy-and-certainty case
Buying could protect against future rent increases, which Jadav fears may eventually approach Rs 1 lakh a month.
Timing and family needs
Rent-and-flexibility case
Jadav is inclined to wait because he and his wife have no children yet, so their future housing needs may change.
Buy-and-certainty case
A property could offer stability as family needs develop, though the article presents this as a decision he has not yet made.
Key facts
- Financial assets
- About Rs 1.03 crore
- Current monthly SIP
- Around Rs 70,000
- Pune property
- 2 BHK bought for about Rs 57 lakh; valued at around Rs 75 lakh
- Monthly rent sent to parents
- Around Rs 28,000
- Current residence
- A rented flat in Thane costing Rs 38,000 per month
- Largest asset holdings
- Mutual funds: Rs 40 lakh; EPF: Rs 32 lakh
- Reported monthly take-home
- About Rs 2 lakh, with roughly Rs 80,000 invested before EPF
Quotes
Mayuresh Jadav
Engineer and salaried investor featured in the article
“I want to build enough wealth to eventually have financial independence and flexibility, a point where working becomes a choice rather than something I absolutely need to do.”
financialexpress.com
“Just because someone you know recommends a financial product does not mean that it is right for you.”
financialexpress.com
Sources
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