15 Years, 15X Corpus: a CAs Debt-Free Journey

Published on / By M. Pattabiraman Twitter: @pattufreefincal

Published: June 14, 2025 at 6:00 am

In this edition of the reader story, “If I were to describe my financial journey in one line, I’d say: It’s been a life of ordinary beginnings, supported by extraordinary people, and driven by quiet persistence.”

About this series: I am grateful to readers for sharing intimate details about their financial lives for the benefit of readers. Some of the previous editions are linked at the bottom of this article. You can also access the full reader story archive.

Opinions published in reader stories need not represent the views of freefincal or its editors. We must appreciate multiple solutions to the money management puzzle and empathise with diverse views. Articles are typically not checked for grammar unless it is necessary to convey the right meaning and preserve the tone and emotions of the writers.

If you would like to contribute to the DIY community in this manner, send your audits to freefincal AT Gmail dot com. You can publish them anonymously if you wish.

Please note: We welcome such articles from young earners who have just started investing. See, for example, this piece by a 29-year-old: How I track financial goals without worrying about returns. We also have a “mutual fund success stories” series. See, for example, how mutual funds helped me achieve financial independence. Now, over to the reader.

I qualified as a Chartered Accountant at 21, but my story began at 17 when I stepped into articleship. While most teenagers were exploring college life, I attended VAT audits and nervously prepared tax files I could barely interpret.

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One of the earliest money lessons I absorbed came from watching my father’s struggles with debt. He ran a small business that faced repeated setbacks, and the stress of repaying loans shaped my thinking from a very young age. That experience made me deeply cautious of borrowing, and it’s why I have consistently chosen a minimal or no-debt path throughout my journey.

My family couldn’t afford my education, so my uncle stepped in and made it possible. There was negative inheritance and family loans to be paid off, but there was an opportunity, and I was determined not to waste it.

After the 10th standard, I moved to Pune with one bag and a head full of hope. I knew no one, but the journey through professional education, guided by generous mentors, helped me find my way.

In 2011, I qualified and started my practice after a short stint in employment. The salary I used to get was modest and not enough to repay inherited loans and support my family simultaneously. So I had no option but to take up whatever work came—Excise, Service Tax, VAT—that slowly built a foundation. By the time GST came in, I was already deeply rooted in indirect tax. Some call it vision—I call it luck.

Being a professional differs from being salaried — cash flows are not linear, and client fees are often received in parts, not monthly. This adds a layer of uncertainty, and planning becomes even more critical.

Nearly 15 years later, I’ve built a modest but stable financial base—enough to cover about 15 times my annual expenses (15X). My investments in equity, debt, precious metals, and liquid funds offer peace rather than pomp.

Today, at age 35, I live with my wife, son, specially abled sister, and dependent parents—six of us—in a fully owned, debt-free home. My wife also actively helps me with office work, ensuring I can manage professional responsibilities more efficiently. 

I began tracking markets seriously in the 2014 Bull Run. I never found multibaggers or timed entries. But I stayed consistent. Regular investments, staying below means, and a deep respect for simplicity have been my compass.

I owe a lot to the learning from Freefincal, Subramoney, and other thoughtful voices on Twitter. These platforms helped me see beyond noise to value asset allocation, risk, and behavioural discipline.

Charlie Munger’s quote about avoiding “ladies, liquor, and leverage” stuck with me.

My current allocation:
– 40% equity, mostly passive and some PPFAS
– 25% in gold and silver ETFs
– 25% in debt, including PPF
– 10% liquid, for contingency

I’m still learning, still building. I don’t consider myself “settled,” but I feel secure, not from extraordinary returns but measured decisions and quiet guidance from generous communities.

Reader stories published earlier:

As regular readers may know, we publish a personal financial audit each December – this is the 2024 edition: Portfolio Audit 2024: The Annual Review of My Goal-Based Investments. We asked regular readers to share how they review their investments and track financial goals.

These published audits have had a compounding effect on readers. If you would like to contribute to the DIY community in this manner, send your audits to freefincal AT Gmail. You can also publish them anonymously.