FIRE
For those who are planning for FIRE. Share your-
- FIRE net worth
- Target age to achieve FIRE
- Current age and YOE
- Current network
Talking product sense with Ridhi
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No Fire have to work till possible
- Target: 8 cr
- Till i am able to work
- 31 , 9 YOE 4)10 lakh
- 10Cr
- 40
- 32, 10 YOE
- 3Cr
How are you planning to save 90+L per year???
3Cr is invested and should become 5.5Cr base case by the time I am 40. Mix of FDs and Equity MFs. That leaves 3.5Cr to be saved over 9 years (rest will be covered by investing what we save incrementally) between me and my wife. We limit our spending to 1lac/month so 35-40lacs/year should get saved
16 cr liquid
45
31 10
6.24 cr in home 1.4 existing loan, 60l equity
10Cr 38-40 31, 8 YoE (Masters Grad) 2.1Cr ... Already pretty much FI in the sense that i take long breaks between jobs and dont ever have to "work" at places that don't motivate me or have challenges and learnings for me. And "RE" for me will likely still involve working in tech itself in bigger moonshots, not really interested in quitting and farming or staying at home and whatnot
Explain why 10/15 etc as a multiple of your planned expenses. Add some thoughts on:
What about the education and life events of your kids?
What about replacement cars every decade or less?
How about health insurance and safety net for major illnesses post FIRE?
What about travel budgets post FIRE?
Add all as annual exp = X and state your absolute goal as nX.
PS: not in the FIRE game, just trying hard to stay employed. ;-)
I don't u understand why people want to retire early unless they hate their work.
I can code till my last breath. In love with computer since my dad built a PC on his own when I was 10 YO.
In short, you may want to work but jobs should be available post 45-50. Lots of youngsters who can do the same job for less.