ZoomyBurrito

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

ZoomyBurrito · 2024-01-02T15:34:39.631125+05:30

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?

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?

12mo ago

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BouncyPickle

Stealth11mo

8 cr. have a kid
By 48-50 I want to retire and travel the world

WobblyNugget

Stealth11mo

Travelling is overrated. People influenced by instagram videos are mostly color graded to make it look really cool.

Travelling is not for everyone and mostly a tiring process. The videos we watch makes it look very easy.

JumpyMochi

Accenture11mo

I agree to some extent . Now i feel like going to places away from people, that too for a while , just for few day break. foreign vacation seems like waste of money, when we have a lot here in india.

ANYWAYS IT'S A Personal choice...

SparklyBagel

Stealth11mo

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

PeppyBanana

Athenahealth11mo

How did you reach there? Earned in dollars 💵?

WigglyPenguin

Stealth11mo

could you please tell us a bit about how you gained a corpus of 7cr till now ?

CosmicLlama

Stealth11mo

FIRE is the corporate equivalent of every kid's dream of becoming a fighter pilot.
For 99% of salaried employees it will never happen. It will happen at 58 or at 50 when they fire them and they cannot find an equivalent job.

WobblyNugget

NetApp11mo

I read that by 45 we can't work in IT

QuirkyMochi

Nokia11mo

Surprised the low numbers being presented here. Sustaining a lifestyle with a corpus which lasts for a larger period of non earning years is very very costly. My calculations for retiring at 55 itself requires 14crs for 25 more yrs.

ZoomyCoconut

National Australia Bank11mo

Have tried calculating using swp?

JazzyPenguin

Linkedin11mo

Care to share why you think it would take 14cr?

WigglyBanana

Stealth11mo

I don’t plan on retiring early specifically. But the goal is to make as much as 15Cr and then can pursue purely passion projects.

I think I’ll achieve this by 45. I’ll build that networth through ESOPs (I know 🤡)

QuirkyMuffin

Stealth11mo

Na, it makes sense. ESOPs in a good business which you helped build esp. if you had joined in when they were at the 50-100cr revenue range will get you your FIRE funds fast.

And this is even better if its a business in the so called boring fields like ITES and/or component manufacturing.

Because these firms start paying out dividends by the time they get to 500cr -1000cr which can happen in 5-10 years with a decent business plan.

So not only does your net worth increase you get goos dividends as well.

All of the above is my personal experience and basically my plan for FIRE.

WigglyBanana

Stealth11mo

Makes a lot of sense!

But traditional companies: how will you get in such a business early and have enough stake? Especially given I may not have experience expertise or connections

I’ve always thought of startups in this context

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Are you considering 72L esops of razorpay as your own networth? 🤔🤔

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