Is this new normal?

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

Seems pretty amusing about folks talking about this and that crores. People need to get out of their cocoon and maybe try and understand how the vast majority of the population lives. Most people atleast in this country will not have a total corpus of anything close to 1 crore even at the end of their life, and a lot of them will have happy lives. Money is important, but let's not make it so important that we forget to smell the coffee

Please encourage him to do this, he has understood the purpose of his life in some way

3cr is too less, I hope he has great insurance coverage and proper portfolio management! anyways I would kinda prefer atleast 50Cr consider my lifestyle n spend rate, living minimalistic is kinda not my likes and I think there is nothing wrong.. Avg politicians retire with 150Cr

In one of Ravi Handa's FIRE podcast, a financial advisor had the number of 6 CR for a family of 3 with one child living in tier 1 city. 6 CR is reasonable. Considering no kid and tier 2 city, 3 cr should be just about OK.

Minimalistic living :) we all value different things in life. Whatever floats ur boat, go for it. Future or past is not worth thinking about

Doesn't even have kids. 3-5 cr is more than enough for a couple and parents.

All of this is based on the idea that he will continue to have the 33lpa job for the next decade if he's not interested in advancement. With the advent of AI, dev salaries are going to come down - the free lunch is basically over

He is smart, you will keep chasing

For me, I’m chasing 8cr which seems reasonable enough to provide good passive income to live comfortably. This is excluding any inheritance that I will gain. If I take 10+ years to reach that amount, will have to increase the number by a 3-4cr. Struggling to figure out what is the best way to reach 8cr in the next 8-10 years. Salary is currently 34, which is likely to increase but I still don’t think it’ll be enough to reach the goal in the target time. Suggestions to reach the goal within the target timeframe would be appreciated, and questions are also welcomed.

I am more interested in knowing how did he decide to not have a kid, it's a tough decision which is irreversible if he wants later

At 35 now. Can say that the dude is right. Keep your wants limited and 3cr corpus excluding house should be sufficient for 99% of people in India.

I am 35 and I make more than 1 Cr a year and I have net worth of almost 8-10 Cr. I am telling u this, so u know I am talking with context I am married and don’t have kids Here are 3 things I strongly feel today 1. There is absolutely nothing more important than your health and happiness. I am averse to working more than 8 hrs a day, unless I am doing something I genuinely love. Give time to ur health 2. Spend time with ur family, ur parents, ur loved ones. Travel the country. I take 3 vacays a year 3. Don’t give up on financial planning. Save money, invest in the right places, try a side hustle if u want to. A rainy day can always come but slogging 30 yrs is not necessarily gonna prepare u for it

What's wrong? His life his rules

He can survive on 10k per month, 3cr is huge

Since he has his own house and Ranchi is not a metro city, IMO that would be enough for him. I believe he also would be having some investments which would give him returns and/or would have invested in schemes like SWP to get regular income from the time he retires. If not then also the corpus would be fine IMO.

How was he able to amass 3cr in just a decade, given that his current income is around 35lpa and assuming he likely began with a much lower income?

3 cr is more than enuf. You can live a good modest lifestyle on the earnings and will still have enough to grow. A side gig for timepass will help a lot even if the amount earned is small. Think tuitions or career guidance. Some % of portfolio dedicated to active investment can also generate good returns. Health is covered by insurance. Otherwise hardly any emergency? It all depends on what your lifestyle is, my lifestyle went through a bell curve, now its so basic I can survive on 25k a month in Mumbai. Given that my food and living is taken care of already.

I am planning exact same life. Specially with no Kids. Not sure when I'll achieve it. But I want to travel little more. So that's a plan I am having.

FIRE is not a new concept. Before industrialization, a small but considerable part of the population were in control of few assets, and they lived off the returns on the assets. They spent most of their time chilling and put minimal efforts to sustain their returns on said assets. The FIRE movement reintroduces the same concept. The better part about this is that it paves a way for those without generational wealth. Also, it doesn't mean that you don't work after achieving "FI", it just means that you don't chase things like you won't be able to put food in your mouth if you don't. Think about it. Would you be kissing your superiors' ass if you were making twice your paycheck as rental/dividends/some other kind of passive income.l?