F(35) hoping to be FI by 2035. How does my planning look?
Preface: I'm single and not looking to get married. I work at Blr but plan to retire in Hyd. Only want to achieve FI not looking to RE.
I currently earn ~40 L (Non-engineering role). So, here is the breakdown of what I have accumulated thus far - Mutual funds - 25 lakhs (Invested 20) Stocks (blue chip) - 8 lakhs (invested 5) FDs - 20 lakhs ELSS- 10L House on EMI - Gonna cost me ~3Cr in next ~10 years. (My father is paying some and the flat is in a joint name)
Long term Monthly Expenses:
- Entertainment, subscriptions, internet: 5k
- Misc: 20k
- Groceries & other things house: 20k
- Food & Wine: 20k
- Gifts and Support to family: 30k
Net FI goal: the 3 Cr house and 3 Cr in savings. I plan to achieve FI in the next 10ish years.
And for anyone new to investing, please start EARLY. Do a strong SIP if you don't understand anything else yet.