The 27-year-old software engineer, who earns ₹5 lakh a month, is worried about the future due to AI. Afraid of losing his job, he is making large investments in gold and shares to secure his family.
“I am earning a lot, but I am still not rich.” This is what a 27 year old software engineer, who earns Rs 5 lakh per month, has to say. He fears that due to Artificial Intelligence (AI) the software job market will completely change in the next five to six years. Due to this concern, he is investing heavily in hard assets like gold and shares before leaving his job so that he can secure the future of his family.
accounting of money and investment
This young man has told about his financial condition on the famous social media platform Reddit. He told that he and his 23-year-old wife have a total of gold coins worth Rs 15 lakh, American shares worth Rs 7 lakh and fixed deposits (FD) worth Rs 3 lakh. Apart from this, the family also has gold worth about Rs 70 lakh. The special thing is that he has no debt. They live in their parents’ house and do not have their own car or home.
Expressing concern, he wrote, “I want to build wealth for the long term. There is a danger of many big jobs being lost in the next 5-6 years due to AI. So my aim is to create a safe net worth of at least Rs 3 to 4 crore in the next few years.”
Fear about the future of the tech sector
He told that both he and his wife are software engineers, but the changes taking place in the IT sector are giving him sleepless nights. He said, “I know we come in the top class in terms of monthly earnings. But my biggest concern is future stability. All the big consulting firms and service-based IT companies will collapse in the future. Believe me, even Software as a Service (SaaS) will not last long.”
People’s opinion and advice on social media
This post went viral on social media and people gave various opinions and advice on it…
One user advised not to depend only on American stocks, invest money in the Indian stock market also. To this the engineer (OP) replied, “The value of rupee is continuously falling, so I am not a fan of Indian stocks.”
Another user said, “You are only 27 years old, have no debt and have a net worth of more than Rs 1 crore. In my view, you are already rich. If rich means Rs 50-100 crore, then this is not possible with just a job, for this one has to do business.”
A third user expressed courage and said, “Both of you are still very young. Don’t worry so much, stay calm and enjoy life. Invest wisely with the help of a good financial advisor.”
Another user cautioned against investing too much in gold, “Focus on increasing your earnings. You already have a lot of gold, so it is not sure whether it is right to invest in more gold or not. If you are considering jewelery as an investment, then be mentally prepared to convert it into cash in the future.”