No Flashy Job Or Stock Investment, Yet Uncle Retires At 45 With Rs 4.7 Crore Bank Balance --Redditor's Post Goes Viral

A Redditor has shared in a post that his uncle retired at 45 with a bank balance of Rs 4.7 crore without inveting in any conventional instrument considered a couple of years ago.

New Delhi: A Redditor's post about his uncle's retirement at the age of 45 with a bank balance of Rs 4.7 crore has generated widespread discussion on the social networking site. The user claimed in his post that his uncle's impressive corpus was the result of a boring, decent-paying job rather than any fleshy job or business. 

The man posted on Reddit with the title, "He retired at 45 with Rs 4.7 crore." He said that his uncle didn't have a flashy job or business and never traded stocks. His uncle just had "a boring job that paid decently". 

The Redditor recalled that his uncle would advise him, saying, "You don’t need to earn more. You need to save early." He said that his uncle lived in a 2BHK for 30 years and never made any extra income. "He lived in the same 2BHK for 30 years. Rode a scooter. Vacations? Kerala once. He made no extra income. No side hustle. Nothing," the user wrote. 

The Redditor further said that his uncle invested in mutual funds. "But what he did was simple. Put 10,000 into a mutual fund in 1998. No one around him was doing that back then," he said. "A couple of years later, he started a 500 SIP. Whenever his salary went up, he increased it. 1000, then 2000, then 5000," he added. "By 2010, he was putting in Rs 20,000 a month," he said. 

The Redditor said that when his uncle retired at 45, he had a bank balance of Rs 4.7 crore. "When he retired at 45, I asked him how he pulled it off. He handed me his passbook and a sheet he printed from CAMS. The total corpus: 4.7 crore," he wrote.

The user said that his uncle still lives in the same 2BHK. "No upgrades. No show. But now he and my aunt are out travelling almost every weekend. Kids have no idea about his net worth," he wrote.

Netizens react

The post shared on Reddit received mixed reactions, with some saying saving more and retiring early is a good option and others saying that he wasted his life practically.

One user commented, "Thanks for the lesson bro,save more retire early!"

Another user said, "Guy is living my dream life . Never wanted flashy cars or house . Just wanted peaceful life."

"Money is important in today's world but mental peace is more important. And your uncle is a clear winner," said one user.

"I appreciate him saving money at an early stage, but not at the cost of compromising every stage of life. But good that he is free now and will be free rest of his life," said one user.

A user said, "He wasted his life practically. Lived like a convict in a jail. At 45 yrs, I don’t think he will have the same energy and conviction to live and enjoy the wealth."

"I would rather enjoy my 20-40”s more than i would want my 40-70”s peaceful. That’s peak years wasted in excessive frugality imbalance," said one user.