I'm 28 and I've managed to achieve a net worth of 50 lakhs while working in customer service, so I thought I'd share my story because people often say it's tough to build wealth with an average job
I started working in 2019 in a customer service role with a salary of around 32k per month, and today I'm earning about 75k per month in the same company, after COVID my role went remote which helped me save even more, career wise I know customer service isn't considered a great long term career path, but I couldn't afford to leave my job to do an MBA because I had to support my parents, one thing that helped me a lot is that I'm a low spender, my dad takes care of most household expenses and we don't have expensive dreams or lifestyle expectations, so I used to save and invest almost 90% of my salary, especially when I started getting good incentives at work, today my net worth is roughly 50 lakhs, my takeaway from this journey is that wealth is not just about how much you earn but how much you save and invest, now my next goal is to use this capital to start a business because I know that long term growth probably won't come from customer service jobs
It's a commendable achievement, but not many people can relate when your biggest money saving tip is to stay with family and let your father handle household expenses, not everyone has that advantage
Saving and investing 90% of your income is a big deal, it's not easy to do
Can you give us some insights on how you got into that job and how you got promoted, what's your current role, and what does your net worth look like
Just an idea, can you try for a more strategic job internally, being in customer support has advantages if you can move to marketing, product, or sales role
Congratulations on achieving your goal
Do you own a bike or an expensive mobile, 90% saving is incredible, I don't know man, I want to live and it demands money, I'm about to start and I don't have a good idea
This is not a realistic scenario, depending on your parents for every expense when you have a comfortable salary is just not cool after a point, I stay with my parents too but I pay rent which I count as an expense and pay for all my stuff and sometimes for household expenses too
Hey, bro, I'm in a similar situation as you, can I DM you to talk more about it
Dude, you're saving 90% only because your dad is paying for everything, so spare us the lecture, it's not like you're living in the real world
The math isn't adding up for me, could you please clarify, you said you had to support your family, so with an average earning of 50k, 10% expense is 5k, how can someone live off 5k in this economy, additionally even if that's possible, 45k * 12 * 6 is 32L, so your investment must have returned over 50% in the last 6 years, what was your investment strategy, lastly COVID gave an advantage of work from home for 2-3 years, so what about rent before and after that