I'm at 92 Lacs (32M, 30F)

Thank you Grapevine for this community. So excited to find a space for talking about this.

1 Cr includes MFs, Stocks, FDs, ELSS, PPFs, Bonds, Gold. (Thank you COVID for the Amazing returns!)

Our FIRE goal is 6 Cr + a good house by the time I'm 42.

Major Variables:
- My wife wants to do Blr but I come from Belgaum, a house & lifestyle there would be much cheaper there
- Kids. That might stretch the goal to 8 Cr. Schools etc again much cheaper in Belgaum

Post retirement:
- Considering some light freelance projects to keep the money coming but majorly
- Fitness & Traveling for me
- My wife want to teach underprivilaged kids in NGOs

Isaiah Lee

Flipkart

3 months ago

(Its belagavi isnt it?) Well, 2 things i will say is people from Mysore trying the same regretted it because lost opportunities and growth will start looking significant if you move to tier 2. However spot on on savings and quality of life in Belagavi. Other one is not to discourage you or anything sir, 1cr at 32? People are earning lot lot more. 2-3 yoe grads get 50 lpa now. If thats ur plan maybe u will be fine more or less but u will lag behind peers and also give less to the future generation than you possibly can. So not a point of discouraging am just on the side of being against FIRE. That's a very irresponsible term imo especially for a developing nation like us. I got mom working even at 62, dad can't super walk properly but still works at 67, and we have no dearth of money either.

Kalan Nadeen

PayPal

3 months ago

I plan to move there only after achieving FI. I don’t have expectations to make even half of what I can make in BLR. Yes, there are kids making 50 LPA a year. It’s not a race with them. I want to achieve RE, take it easy and explore hobbies, get fit. Who knows what the inflation is like going to be in BLR because of them. Belagavi ftw

Aaron Lee

Stealth

3 months ago

Pretty good response. Congrats on your FIRE journey. Just curious, What's the belgaum vs belagavi tussle? Now, are we getting triggered if people are taking names of cities which were perfectly reasonable but changed because of pseudo nationalistic sentiments? If so, need to add it to the list.

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Kalan Denver

Deloitte

3 months ago

People ridiculing only 90L or 1 Cr at 32 need to get a reality check. May not be FIRE level but it's good going for this age. For freshers earning 50L with 2 YoE, longevity of career is a question mark.

Jordon Denver

Microsoft

3 months ago

And FYI everyone is comparing total comp with savings. Someone getting 50L will get on hand much lesser after paying Modi govt their cut. On top of it reduce the expenses and you are left with some savings. Here OP has 92L savings which is good.

Kendall Dean

Deloitte

3 months ago

Don't understand the relevance of modi govt here. Were the taxes lesser during MMS or Sonia rule? We need to accept that we're living in a socialist utopia for masses who feel that it's ok to milk salaried class like us. Total comp of 50L is jackshit if you don't have generational wealth and need to start with a car purchase. Many high earning fire peeps live a sub - par lifestyle lke a hostel guy with excessive spends on travel/food/tech

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Jordon Nadeen

Amazon

3 months ago

Congratulations 🥂 I often wonder if it is really possible for someone from a lower middle class family (now upper) and from a tier 3 college But I hope I am able to achieve it some day! (22F)