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
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.
You can retire provided you keep doing some random stuff on the side to bring in money. Even if not much, something.
Yeah, whole idea is to exit the cycle of finding job, not liking it, quitting/lay off, cycle repeats ...tired of so much uncertainty all the time.
After working for 4 years, still not feeling financially secure.
And worst of all...work from office, changing cities for damm unstable jobs/paycuts, etc etc.
My plan is to buy 1 house and 1 shop and that's it. Shop already bought. Once I get house, end of work.
50 lakh at 30 is NOT a huge amount for the rest of your life. If you moved to a small town then maybe yes, you can live a low profile life.
But even there, you can’t ignore the costs of medicine in case you fall sick.
Wait, let me do some math, its much easier that way.
Lets say you planning to use this amount till 60. So you have 2 people to feed for 30 years.
Every year you can spend only 1.6 lakh.
Every month it is 13,300 rs between two people.
Now, ignoring all the inflation that is happening, let’s say the costs remain the same for 30 years.
You have mobile bills, fuel/commute,clothes, Gas cylinder, food, basic toiletries and make up.
Also other occasional things like visiting relatives, doctor visits and maybe some furniture update/renewal, vehicle repair and home repair (painting and stuff)
I mean you probably can manage all these things in 13k month today. Its not impossible because people do survive on 13000 a month even though with a very very plain life. But pretty sure in your 50s with more doctor visits, no children to take care of you and costs of things rising it will be impossible or at least not a life you can get if you keep working at google for a few more years.
50L will give some returns also why are we not talking about that.
At 7% it will give you 3.5 lakh a year. Im not sure if tax/tds whatever will be deducted.
Let’s say you get all of it and get to spend 30k a month without disturbing your 50 lakh.
Seems ok ok and in kind of equilibrium, but we are ignoring inflation like air resistance here. It is still a very dicey situation. One mistake/unexpected spending, and the whole setup spirals down south.
Would definitely not recommend if you have another choice.
Average inflation in India is around 4-5%
My parents say they could go out and buy the whole groceries and ration for 5 rupees when they were young. That was nearly 50 years ago. You could buy lands for thousands of rupees. And look at the situation now.
Govs usually keep inflation rates slightly positive because economy and whatever. So 50 L will not be a huge amount in next 30 years.
Can someone retire with 1cr - invested in FD and stocks..having own home ..no debt ..annual expense - 5 lakh..
Just met a dear friend with 10+ yoe and earning 33L per anam.
He doesn't want to get promoted or salary hike as he is getting enough as per need and wants to have good WLB. He is accumulating a 3cr corpus and planning to retire in 10...
That dude has understood life, i’m 25 will do the same
