Can I retire
Hey, I am 45 years old and working in IT. I have a stock portfolio of around 3 cr and other investments in ppf, fd etc of 1 cr. I have a loan free car and house in tier 2 city. I am planning to retire. Is my savings good enough for retirement
Easily. Buy some farm land and eat healthy food and enjoy worry free life. My plan is also to do the same
I think its way better than most of us. You can retire if you really want to.
Thanks for your suggestion guys, the only thing I'm worried about is the future cost of higher education for my kids. Since it's going to happen in the next 10-15 years I cannot anticipate the cost.
Kamlesh
Stealth
4 months ago
Homeschool them buddy, you'll be home anyways. Indian school system is shit, much better to homeschool these days.
no please. Kids learn a lot by interacting with other kids. The best answer is to make them join an average school with no strict attendance and teach them yourself after school instead of tuition
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I really want to know how did you plan to save so much ! Please guide me
Yes, you can retire easily. Talking based on personal experience. As long as you don’t get excited and start splurging money on business class trips or extravagant cars etc, you can have an amazing life with this corpus. Your 3 cr stock portfolio will take care of inflation as it will grow with economy. Good luck and welcome to early retirement. Also, keep yourself engaged by doing hobbies you love and see if you can monetise any of those hobbies - even better to have some kind of passive income from work you love
Do something tangible in free time as free time is not opulence its danger as it can also degrade us at the same time
All the best for your future 💫😇
How is investment of some part of total investments in gold as a hedge? Is it worth to keep something in gold just for case of emergency or need arises when stocks are going low or negative.
Fair point, currently invested in sgb but very less compared to overall portfolio both stock and non stock. Might increase in gold by investing more in sgb
how did you make this much corpus, must be financially disciplined? please do share some lights for us fellows with few years into IT
Live in the own home with annually expenses keeping under half of return from the portfolio. Keep investing rest.
I believe with 3 cr portfolio you can easily generate 30 lac a year with 10-15% tax. You have pf and fr also. A house and home. In tier 2 city it is way better. You can also earn with your portfolio and generate more income. Don't work in option future though.
FindingHorses
Stealth
4 months ago
Get a fixed fee only advisor, don't ask random people here
Whatsinthename
Stealth
3 months ago
Short answer- No
Education, health care and inflation is going to take away a huge chunk of your savings.
Could you care to elaborate more, I have medical insurance which i am planning to continue even after retirement. I am not sure about the future cost of higher education so maybe you can share more insight there. As far as inflation is concerned I believe it should be taken care of through my stock portfolio. Am i missing anything.
it depends on your current and future commitments like your children’s studies and marriage etc think about it.
MaverickManager
Stealth
3 months ago
Use retirement calculators to check for yourself.
Is your monthly expense in that tier 2 city going to be lower than 60K? If yes then you can retire as long as you don’t have any major expenses apart from the monthly regular expenses.
Higher education - save for that before you retire.
Insurance is a must for health related unexpected expenses.
No further upgrades in lifestyle possible. You should be okay with that. Otherwise keep earning
Besides finances you also need to think about how will you keep urself engaged and purpose driven .. if that’s also sorted - All the best
ericcartmanchan
Stealth
4 months ago
20-25x of annual expenses in low-medium risk equity portfolio + separate one time funds for those big education or other big event expenses is what you need to FIRE
