Analyst

Software Engineer

40 age for early retirement is ambitious but you may need 25cr if your today’s package is 50+

Healthy FIRE target by 40 is 5 Crores. Anything more is on the ambitious end

UX/UI Designer

Business Development Manager

Growth Manager

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...

Welcome to Personal Finance's Private Community

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

Confused by 25 CR FIRE targets

Confused by 25 CR FIRE targets- Grapevine

When I was younger, 1cr felt like a dream. When I got there, the goalpost moved to 3cr. Those I know who are already at 3cr net worth, are now chasing 5cr. And those at 5cr, claim 10cr is the target... 

Is there a cliff at which more people are content with where they are vs those who aren't?

How much is enough?

Investor

Is FIRE the latest obsession because people have no other passion in life? Is it because they have aced school, college, High package(due to recent surge in salaries) and now don't know what is the next mission in life?

One argument is that they want freedom to do great things, but as I see the drive to do great things comes when people are put in constraints and difficulties. Not when they have freedom..

Why is everybody chasing FIRE?

Everyone wants Fire because they understand all that hustling and work for your passions is bullcrap and chilling and enjoying life is a much better alternative.

Founder

Product Manager

The FAANG and unicorn employee salaries for even 2-7 YOE engineers is quite insane compared to the average Indian employee pay in other sectors of the economy.

The average SDE2 at these companies makes 50+ lakhs per year in compensation (not “CTC” but real money) The average SDE3 makes 80+ lakhs which is frankly insane.

What are you guys doing with all that money?

FAANG & unicorn folks, what do you do with all that money?

Giving 34.2% directly and 18-28% indirectly to gormint. My biggest expenses by a country mile.

Security Engineer

Hi everyone,

The year end is here. It was a great year for my FIRE journey and I thought I'll share an update with you all.

With few days left in 2023, I've crossed 2.65 CR in net worth after touching 2 CR in May this year.

Here's the breakup:

Direct shares: 1.7 CR (this was the major driver of growth),
ELSS: 0.06 CR,
Company shares: 0.06 CR,
Real Estate: 0.4 CR (while it is between 42-45 now, keeping this unchanged from May),
EPF: 0.34 CR (interest for last year kicked in),
NPS: 0.06 CR (investing because I'm in 30% bracket, getting 14.8% xirr here),
SGB: 0.03 CR

The driver for growth has been a high saving rate.

In 2023, i've added 29.5 lakhs in equity, about 2.5 lakhs every month. 6 lakhs in company shares (US listed). The EPF and NPS savings are on top of this. My target was to save 36 lakhs in equity overall, and it's done! Targeting the same for next year. I'm aiming to cross 2 CR in equity before July 24.

Another change I did this year is that I've moved away from active advisory. I get the stock ideas from Twitter discussions, analyse them fundamentally and take bets based on the charts. I'm quite confident of my charting skills with max drawdown of 25-30% but upside of multiple x. I could capture 2-3 2x this year with sizable investment in them. I got this confidence after i could take my wife's account from 11 lakhs to 20 lakhs in about 2 years.

While the next year can be a huge bull run if BJP wins, I'm still trying to diversify. I'm planning to add a real estate of about 75 lakhs by paying 10%. This will help me leverage as well. The rental yield is the property is approx 5% and calculations show that I'll have to only pay 40-45% of the EMI and rest will be covered through rent. This should bring my equity exposure down from the current 65% to less than 50%. In this I'm trying to diversify and leverage while not denting my current equity corpus.

Suggestions welcome to make this FIRE journey better!

Thanks!

Crossed 2 CR and 2.5 CR in the same year

Project Manager

Ask those influncers whats will you do with your life after FIRE. Assuming target completed at 35yrs of age then what? And even after that what will you do with the money. Keep in bank or stocks to be passed on to "no one" after you or just maybe taken up by banks and govt and home taken up by land encrochers. Life is not at end after FIRE. FI is good so you can protect your family but when you "killed" your family tree itself to achieve FIRE what did you acheive ,for whom, for what? Good for show offs maybe but internet fame is limited till there only no one is there for you on ground. Empty  4 walled rooms being cat/dog "moms" all have been already experimented in west and now being tried to replicate here. 
They want us to stay poor by selling us the lifestyle they are living though the money they got by selling the courses. The logic they applied maybe worked at that time but does it guarantee the same logic will work in next 10 yrs and if thats true why not they themself buy all those assets with all that money  will get 100 bagger in next 10 yrs themselves.
I can continue the same with their rent vs buying home logic but maybe keep it up for another day.

Finfluencers and their fuc*ed up logics

Software Developer

Welcome to Indian Startups's Private Community

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 years in his hometown in Ranchi.

Debt free - family house in Ranchi and married with no kids - single income. 

Isn't the amount very small/too risky? Considering anything can go wrong in future and you should work really hard in 30s to avoid that as much as you can.

What's your opinion? 

Ps. He is also active here and I took permission to ask this question here

Is this new normal?

That dude has understood life, i’m 25 will do the same

Operations Manager

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

If yes, what are the main driving factors? If no, what helped you realize FIRE is not for you?

How many of you are planning for FIRE?

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?

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

Welcome to IT Company Discussion's Private Community

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

Hello folks. While I'd like to remain anonymous very much, here's what I can share about myself.

1. Working in consumer finance.
2. Love personal finance and helping people out with it.
3. Have published 10,000+ pieces of financial content in the mainstream media.
4. Wrote a best-selling book on money management. It was No. 1 on Amazon once upon a time. 
5. Lately been appearing on TV regularly for personal finance discussions.
6. Saved like crazy through my 20s and 30s, brought two apartments; have an 8-figure net worth mostly thanks to my mutual fund investments. It's not much but it's hard-earned.
7. My unrealised aspiration is travel and I'm working on it now.

No, I'm not selling anything. No commissions, no referral links, no finfluencing. 

Just want to talk, exchange ideas, and learn from you all. Maybe I'll feature you in my next book. :)

Ask me anything.

Confused by 25 CR FIRE targets

Discover More

Personal Finance on

by Blair Everett

Swiggy

How much is enough?

Personal Finance on

by Kalan Hyrum

Stealth

Why is everybody chasing FIRE?

FAANG on

by Kendall Lee

Goldman Sachs

FAANG & unicorn folks, what do you do with all that money?

Personal Finance on

by Coy Vernon

Accenture

Crossed 2 CR and 2.5 CR in the same year

Personal Finance on

by Aaron Hyrum

zopper

Finfluencers and their fuc*ed up logics

Indian Startups on

by Aaron Gabriel

Stealth

Is this new normal?

Personal Finance on

by Dezi Lee

Healthy

FIRE

Personal Finance on

by Isaiah Carmden

Self Employed

How many of you are planning for FIRE?

Personal Finance on

by Anise Olive

Stealth

What's your retirement corpus goal?

Personal Finance on

by Anise Dean

Founder

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

IT Company Discussion on

by Matilda Denver

Salesforce

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

Personal Finance on

by Anise Lee

Stealth

Let's talk money habits.