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?

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?

Anybody able to achieve FIRE or about to achieve FIRE, how did you achieve your target? What strategies you have implemented and steps taken?

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!

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

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.

Started working in 2017 (Graduation: Tier 2 College) in hand salary: 28K per Month. Worked for 2.5yrs, had big dreams, didn’t knew what to do, how do I 10x my salary, saw my manager 40yrs old earning 25LPA in the same company. Realised I don’t want to do this for the next 20yrs and the reach at 25LPA. Started preparing for UPSC (wanted to make it big) realised within 6 months, this is not my cup of tea, appeared for MBA entrance, cleared the exam joined Tier 1 MBA, post MBA: 25LPA + XX Esops in next two years at 1.2Cr CTC inc ESOPs. Before 2030 plan to achieve FIRE with 8Cr networth. By 2040 make it 100Cr and retire. Chill at beach with beer in hand and two other friends. What’s your story, do share those goldmine inspirational stories!!

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..