Rs 10 lakh per month: Ambitious or achievable? Here's a reality check of your financial goals 

My spouse believes we need to earn at least Rs 10 lakh per month to live comfortably and support long-term goals like sending our children abroad for higher education. On top of my full-time work, I manage to earn an additional Rs 30K–Rs 40K per month. My savings are modest since I’ve only been earning properly for the past two years after completing my training. Here's where we currently stand financially:

Rs 10 lakh in mutual funds

Rs 3 lakh in stocks

Rs 80K in NPS

Rs 2 lakh in PPF

My long-term goals:

Own a Rs 1.5 crore house in 3 years

Buy a Rs 3 crore rental property in 10 years (yield is not the priority)

Allocate Rs 1 crore for our child’s foreign education in 15 years

Set aside Rs 50 lakh for the child’s marriage in 20 years

Start a playschool in 20 years—my personal passion

Achieve financial independence by age 55 (current expenses: ₹80K/month)

I need clarity: are these goals realistically achievable with our current trajectory, especially if my income drops to Rs 2 lakh per month in pursuit of a better work-life balance?

Advice by Akhil Rathi, Senior Vice President, Financial Concierge at 1 Finance

It’s great that you’ve clearly outlined your life goals—having both personal and financial milestones give direction and purpose to your efforts. Some of your goals, like securing your child’s education and marriage, planning for retirement, and owning a home, are essential and time-bound. Others, like starting a playschool or buying a rental property, are passion-driven and can be more flexible. Recognizing this difference will help you make practical financial decisions without feeling overwhelmed.

You’ve built a good foundation, considering your steady income phase began only two years ago. With around Rs 15–16 lakh already invested, you’re off to a decent start. However, some upcoming goals—like purchasing a house in three years or funding foreign education—will require focused and consistent saving. These goals are achievable if your income remains strong and you're able to maintain disciplined monthly investments. If those savings continue over the next few years, you can gradually tick off the bigger goals without too much pressure.

But things will change if your income drops to Rs 2 lakh/month for a better work-life balance. After covering household expenses, the amount left for investments would shrink significantly. Trying to work toward all your goals simultaneously at that point may cause stress or compromise your peace of mind. That’s why it’s important to prioritize. Focus first on the essential goals—your child’s education and your retirement. The rest can be adjusted in scale or pushed slightly ahead depending on how things evolve.

Right now, you’re in a good position to build momentum. Use this phase of higher income to front-load your investments into key goals. Start milestone-specific SIPs, track your progress yearly, and remain open to adjusting timelines as life unfolds. You don’t need to give up any of your dreams—just approach

them in a phased manner. If you stay consistent and intentional with your money choices, both your financial security and personal aspirations can be well within reach.