I agree with most of the points mentioned here. I just want to add one more point: As an engineer you should always try to generate an alternate stream of income by building side projects that bring money. You might end up solving a real problem and start working on it full time — who knows! In India the cost of living is a bit low compared to developed nations. So, it is much easier to build things, monetize them and save more.
And +1 for the fitness tip! :)