By plan, I mean
8 cr. have a kid
By 48-50 I want to retire and travel the world
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.
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...
10 crore
How did you reach there? Earned in dollars 💵?
could you please tell us a bit about how you gained a corpus of 7cr till now ?
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.
I read that by 45 we can't work in IT
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.
Have tried calculating using swp?
Care to share why you think it would take 14cr?
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 🤡)
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.
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
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 j...
If yes, what are the main driving factors? If no, what helped you realize FIRE is not for you?
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 ...
Are you considering 72L esops of razorpay as your own networth? 🤔🤔
Hey, I am 45 years old and working in IT. I have a stock portfolio of around 3 cr and other investments in ppf, fd etc of 1 cr. I have a loan free car and house in tier 2 city.
I am planning to retire. Is my savings good enough for ret...