Pakistan-Born Man Earns Rs 1.7 Crore Per Year & Saves 75% Salary: Here's His Saving Strategy
If you are like many people who spend all their money on rent and other necessary and unnecessary things, you are not alone. You could take a cue from this Pakistani man living in the US who manages to save 75% of his salary. However, his method of saving money might not be the best approach for all.
Spending on lavish meals & trips, yet saving 75% of salary?
31-year-old Sal Khan has a job at a tech company in the US and makes about Rs 1.7 crore per year.?
Since 2022, he has invested in real estate and now owns four properties, which earn him Rs 6.6 lakh annually.?
However, he also spends money on lavish meals and costly trips.?
How does Sal then manage to save up 75% of his salary? It's quite simple, actually: he lives with his parents in Houston, so he doesn't pay rent.?
Parents said, stay with us?
When the pandemic struck and his lease ended in August of 2020, he made the decision to shift to his parents' home in Houston temporarily.?
Initially planning to secure his own apartment in the Houston area after a brief stay, his parents offered an alternative arrangement.?
Khan recalls his mother's words, "You can stay as long as you want."?
But transitioning to living with his parents as roommates required adjustments, which was a little difficult since he was used to a certain degree of independence as a young single man.?
However, Khan emphasises that he and his parents have gradually improved communication regarding boundaries and expectations.?
Regarding household expenses, Khan doesn't contribute to specific bills but he covers miscellaneous expenses such as the family's Costco membership, gasoline, certain medical expenses, and, on occasion, his father's property taxes.
Khan's parents, who are retired, sustain themselves using funds from the sale of their property in Pakistan, which also financed their residence in Texas.?
Khan has plans to move out eventually, but only after he has Rs 16.5 crore in assets, which he hopes will happen within the next five years.?
Then, Khan hopes to move his parents to his new home.? ? ?
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