If retired, why to even live in Blr? Better to move somewhere else

I'm gonna do the same as OP. My reason: Been in cities all my life

Software Developer

You would need a lesser amount to retire in tier 2 cities

Product management

Retire with at least 3 Cr, property and secondary income sources when you do retire

Software Engineer

Here is the BARE minimum
- 60L emergency fund
- 1 Cr for your child's education (not a fancy education)
- 1x decent home: 1.25 Cr
- Savings to travel and eat outside: 1.5 Cr
- Another 1 Cr for all the basics

So my guess is that minimum 5 Cr invested into good vehicles giving you 7% returns each year.  

Feel free to debate me on this.

What should be the savings number for FIRE?

Product Manager

What should be the savings number for FIRE?- Grapevine

Welcome to Personal Finance's Private Community

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

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?

Founder

How much monthly savings we can consider decent in Bangalore

Saving

Software Test- QA

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?

Analyst

I make 50k now @chennai, got a Bangalore offer for 13LPA, got another one here for 10.5LPA. I need to pay 40k for my home, but I don't pay rent here. While I really want to move to Bangalore, I'm wondering if 13LPA is enough for my monthly 40k + rent + food + other day to day stuff. I know it's vague but I'm just want to know if I can or should I keep pushing for an higher package

I'm new here, lmk of there a grapevine post "tax"

Help me plan my options

started 

2014 : business development executive 
Salary : 7500

After almost a decade of hustle , achieved 1cr goal 🎯

Sales Leader

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

What is your preferred approach for safe keeping your savings?

How much would you allocate for emergency fund?
How much would you allocate for investment (shares/mutual funds/ gold/ bonds)?
How much would you allocate for dead assets (property/ land)?

Savings break-down

Solution architect

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

Product Owner

What is the biggest expense, how much do you save and how much do you invest

How much do you save per month?

Welcome to Office Gossip's Private Community

What is Your Fire Number? Honest Answers only 🙏

Basically want to know how you guys strategise and manage spending. 
Few questions to make this easier
1. Are you single/married?
1.5 Do you have impulsive spending issues?
2. What’s the spending + investment + necessities + savings split?
3. Are y’all targeting “FIRE” or just winging it?

Been making this much for a while now, married too, zero generational wealth. Somehow we’ve got very bad financial discipline and manage to save only under a lakh per month in Bangalore. Feel we should be doing better :/

Folks making >5Lpm, how to live?

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?

Operations Manager

Monthly bills + Rent + Savings + Investment + Shopping + etc

If your salary is ₹ 1 lakh (100k) pm, how would you spend it?

Welcome to Software Engineers's Private Community

How much inhand income for a couple is good enough to lead a decent upper middle class life in Banglore…..
Looking at the overpriced real estate and exorbitant rents and school fees for kids, young people these days are really worried about getting married.

Married people please share some insights…..

My def of Upper middle class life for a new couple…

1. 2bhk in a gated society or decent standalone building.
2. Gym and healthy life style 
3. Movies / concerts / events twice a month 
4. One 2-day and one week long tour in a year 
5. A decent car (something like nexon / breeza) 
6. Able to invest a lil bit for retirement.

How much would be required for leading such a lifestyle ?

How much money is enough money 💵 ??

Analytics Manager

[Serious Question]
Folks who have been working from sometime now, how much savings/investments should one have in terms of their YOE/AGE. TIA. Absolute numbers are appreciable.

What should be the savings number for FIRE?

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