How much you earn in the absolute doesn't matter.  There are plenty of high earners who aren't wealthy and plenty of mid-earners who are wealthy. 
  
 What matters is what you do with that money.  Investment percentages, instruments you choose and your expense budgets when you work and without. 
  
 The current tribal wisdom is $1 mil + Own house to stay in + No liabilities on children. Mileage will vary with terrain.

First part of your post gives me hope to retire fast. Leaving frugally to the extreme alone can give the hope to retire/work on one's own terms irrespective of earning potential

Investment Manager

Sales Manager

Folks, what is your definition of ideal salary that can allow you to retire at age of 45 with enough wealth to fulfil your wishes of travelling, buying house, etc.

Welcome to Personal Finance's Private Community

Building Wealth

Finance Operations

Building Wealth- Grapevine

By plan, I mean 
- After what networth you want to FIRE?
- By what age you think you’ll achieve that Networth?
- How are you going to build that networth?
- What are you going to do after you FIRE?

Those who want to FIRE, what’s your plan?

10 crore 
 - current 7 crore  
 - will reach there in 1 year  
 - currently 37 yo and 1 kid  
 - will focus on teaching, coaching and freelance consulting

Growth Manager

Founder

How much money do you need to retire at 30? Lol

Retirement

Program Manager

How much do you think is enough?

It's usually never enough for a lot of people and life is bound to throw a lot of curveballs along the way (for better or for worse), but what's the first figure that comes to your mind at which you feel "okay, if I work for X more years and amass this much money/net worth, I can comfortably hang up my boots and retire"?

Additionally, how far along are you in achieving this goal?

I've noticed that a common trend is that a lot of folks, for all their future planning, still don't have enough (or as much as they would like) long-term clarity about what they're working towards and how much more and was hoping this sort of discourse could help bring better awareness.
P.S. - I fall in that category as well, fortunately or unfortunately.

What's your retirement corpus goal?

Software Engineer

Welcome to Fintech India's Private Community

Age 30, married, expecting to be alive till 80
50 L in cash
Own house & car (no plan to sell any of them)
No kids, no loans, no expectations, just basic life
Nothing from family

Excel calculation is hinting yes :)
But need practical advice

Can someone retire with just 50 Lakh in hand at 30.

You can't have the same car for 50 more years. 
  
 Your house will need pieces of renovation in the next 50 years. 
  
 Your body parts will start crumbling in the next 50 years.  
  
 Inflation will continue to eat your money in the next 50 years. 
  
  
 So no way you can survive with 1L per year for the two of you.

For those who are planning for FIRE. Share your-

1) FIRE net worth
2) Target age to achieve FIRE
3) Current age and YOE
4) Current network

FIRE

Product Manager

https://www.instagram.com/reel/C6iQennNxyG/?igsh=MTF3OWQ5bnNjbWJyYQ==

What is the ideal amount you can retire with?

What is your retirement plan? I found 25X annual saving rule for developed economies where inflation is stable. 

Any thoughts on this?

Retirement planning

Project Manager

I’ll go first. 

1. What kind of investor are you? 
I am an opportunity investor, and I do buy good stocks whenever they are in reasonable valuations. Below are my monthly numbers. 

2. Where’s the majority of your investment portfolio ?
I have three RE investments and one of them has loan. And I’m planning to buy a property in Goa or HP. 

3. What’s your monthly investment breakdown?

1.7L/ Month (approx) 

60k - SIP (mutual funds)
60k - stocks (smallcase, us stocks using vested) 
30k - as opportunity fund, this is transferred to a different bank account 
10-20k - for experimental investments in crypto, nfts, and some trading. This is a new segment and I don’t have much experience in this and that’s why starting small here. 

4. Anything else you want to share? 

I am learning to invest on a daily basis. Reading, videos and podcasts are my sources. Some of my tops picks are Whiteboard finance (Marko), My first Million and Smart Passive Income, finance with Saran, and Akshat Shrivastava.

Where and how much are you saving/ investing per month?

Consulting Director

Welcome to IT Company Discussion's Private Community

Is 1 crore enough to retire ? What’s your view ?

How much money do you think a man need to save till 35 so that he does not work for money after that in Bangalore living a decent lavish life like 3BHK flat, 2 kids going to very good school, wearing branded cloths and shoes, partying over weekend etc. You can expect wife is not working.

Just curious to mnow your thought

Software Developer

How much do you plan to accumulate to retire and at what age? What kind of monthly income will let you retire peacefully?

What is your retirement golden number

Investment Banking Associate

Product Owner

What are you earning for ? Is it concrete or something vague that one day you will need this amount or something? Is it more than you or your family needs?

Or are you just a sheep like me ?

Do you know what you are earning for ?

What are you earning for ? 
  
 To meet existing cost of living, 
 have runway for 5+ years, 
 medical emergency fund, 
 house, 
 car, and 
 seed fund for my business. 
  
 Is it concrete or something vague that one day you will need this amount or something? 
  
 Targets are known and quantifiable. So, yes, concrete at the moment. 
  
 Is it more than you or your family needs? 
  
 Not really. 
  
 At the current pace, it will take numerous years before I meet my current targets. 
  
 Or are you just a sheep like me ? 
  
 You are not a sheep. 
  
 You are a hero, waking up each morning, doing something productive and adding their bit to the world.

Growth And Strategy

Senior Software Engineer

How to be Finacially free with 17k salary  🤣

How much should one earn or invest by the age of 31 (considering he'll turn 31 in 2032) to be able to retire from corporate and live a good life?

Earnings to retire from corporate.

How are the people on GV creating their wealth.

What would you recommend someone to who has barely started in corporate and can hustle to build wealth(not just earn salary) so that you can have the option to retire by, say, 40.

Speak from experience, there is a difference in doing vs witnessing others. Need something that can be done daily/weekly/monthly(discipline).

I know about usual investments like MF, Equity,etc and even Physical and Mental Health. Do you have something you can add to it?

Building wealth early on?

Referring to the FIRE thread from a few days ago. I don’t understand the people who aim for 25CR as their retirement target. 

The truth is very few are realistically going to get to 25 CR by 40 or whatever your FIRE age is. I don’t doubt you can get there by 60 at all. 

But that’s just how the career pyramid is stacked. 25 at 40 is hard. Accepting this is realizing that one of the important aspects of retiring early is being realistic with the end goal. 

Just my 2 cents

Building Wealth

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