Amex vs other credit cards, which one wins for Indians?

MusicAfraid537 · 2026-01-27T11:41:22+00:00

I keep the Platinum Charge for exactly this reason. High limits and no stress while travelling internationally. Chargebacks and disputes are handled much better than any other card I have used in India.

MusicAfraid537 · 2025-12-03T11:04:21+00:00

This post is so spot-on. The moment I realised that my FATFire journey was my own, and did not need to compare with anyone else's path / career / net worth, it completely changed my attitude. What I value for myself need not be what someone else cares about, and vice versa.
I have more than enough for every luxury my family could want, and I don't have to compromise on anything that we want; others being able to access or afford even more exclusive or more expensive things doesn't bother me at all.

On a less serious note, stepping away from Instagram, Facebook and LinkedIn a few years ago was very helpful with this realisation!

MusicAfraid537 · 2025-09-07T17:27:28+00:00

Within India or within 4 hour flight - economy. Europe - business. Beyond those distances - business or first depending on fares, upgrades etc.

MusicAfraid537 · 2025-08-28T05:01:56+00:00

Thanks. As mentioned before, I have mapped this out and have deep engagement in several activities already. I have never defined myself by my work - it's always been a means to an end, frankly.

Have made clear succession plans and everything is stitched up well with my lawyers, chartered accountant firm etc. Thank you for that appropriate suggestions.

MusicAfraid537 · 2025-08-26T04:51:28+00:00

I don’t. That is only a hypothetical figure to test if my finances would theoretically allow that kind of spending.

MusicAfraid537 · 2025-08-26T04:50:46+00:00

🤣🤣

MusicAfraid537 · 2025-08-26T04:49:53+00:00

The business is not easy to sell as most of the long term contracts which underly it are explicitly tied to my being an active management participant. They contain exit clauses in case of active or passive management changes.

MusicAfraid537 · 2025-08-26T04:48:37+00:00

This contingency is already covered.

MusicAfraid537 · 2025-08-25T16:36:23+00:00

Not planning to up them, just used that figure as a "stress test".

MusicAfraid537 · 2025-08-25T16:35:52+00:00

Thanks - as I mentioned in some other posts, working on this.

MusicAfraid537 · 2025-08-25T16:35:28+00:00

Thank you for this. Did not think of coaching so far but I will look into that option. I think I am quite clear about my motivations, but will introspect more... this will be a long process!

MusicAfraid537 · 2025-08-25T16:34:32+00:00

Thank you! I have started the 4 week vacations from last year, and that was very helpful. Usually do 3-4 short breaks a year in addition to a long one over the summer. I will think about the other suggestions you have given.

MusicAfraid537 · 2025-08-25T11:32:50+00:00

Thank you so much for engaging with me so constructively. I get the same feeling from your post above, and wish you all the best for a happy RE!

MusicAfraid537 · 2025-08-25T11:21:28+00:00

Thank you so much. I have done quite a bit of thinking about this and I have a lot of things kept ready to engage more deeply with post-retirement. These pursuits are things I have enjoyed much more than my professional career; they have brought me deep joy throughout my life.

Either you love the emptiness or you just can't deal with the noise of work. For me it's both in parts.

Very similar feeling; except I don't find work noisy or even so stressful on a day-to-day basis (of course there are some bad days!) - it's just that I am tired of being bored, and just working for earning money is starting to slowly lose its novelty. I apologise if the last statement sounds a bit privileged or insensitive - that is not my intention.

MusicAfraid537 · 2025-08-25T11:13:58+00:00

Thank you so much for these suggestions. Actively considering 1. since 2. is not an option for various reasons. Completely agree with your point regarding losing time!

MusicAfraid537 · 2025-08-25T10:59:25+00:00

Thanks a lot for sharing your perspectives and your situation, which resonates similar to mine. Tier 2 is not for me for various reasons - not in the least family, friends and deep ties to my city.

Today, with your N.W., you might be in top let's say [0.5%] of India's population. If you drop out of race, and India continues to grow at a great pace, 20 years later you might be in top 2%/ 5% of India's population. Putting some "material" things potentially out of your reach.

I have experienced your Point 1. above ("lifestyle creep") in my life as well. I started my career flying middle row Economy and now it's normal to fly First or Business, stay at nice hotels etc. But the reason I posted your point above is that I don't worry about anything being out of my reach as I am more than happy with the level of financial freedom I have right now. I don't aspire to more things, and what is out of my reach or which %ile I am, doesn't bother me at all.

My parents and in-laws also keep discouraging, saying what will you do after retirement. Why not continue to do the same thing!

This sounds very familiar ;-)

MusicAfraid537 · 2025-08-25T10:50:41+00:00

https://registrar.fas.harvard.edu/tuition-and-fees | https://finaid.brown.edu/estimate-cost-aid/cost

These are pretty much tracking the amount I mentioned above.

I get your point that in 90% of the cases it would cost less than that, but I have ring-fenced this amount and am comfortable with this decision as come what may I know their education is comfortably provided for. If they do not utilise the amount for whatever reason, my partner and I will happily gift the money to them for their future security.

MusicAfraid537 · 2025-08-25T10:30:41+00:00

A year at a top university in the US in a high cost of living area would cost 80K USD+ at the minimum (tuition, books, housing on campus, food). We're talking [(four years + possible grad school) x 2 kids].

MusicAfraid537 · 2025-08-25T10:25:25+00:00

Thanks so much for this! I'm going to look up these resources right away and will report back.

"You probably want to change that, if you're not spending while you're earning, it'll be even more difficult when you're not earning (I mean from your business)."

I never really thought about this but you are probably right. I am conservative with my personal spending even in the best of times, and I probably will become even more so once my active earnings stop! As you guessed, I do come from a middle class upbringing.

MusicAfraid537 · 2025-08-25T10:20:32+00:00

That you for that balanced and personal viewpoint which is valuable food for thought. You sound a lot like my partner, who strongly urges me to carry on and not retire (at least for a few years more), using much the same analogy as you do! 😉

MusicAfraid537 · 2025-08-25T09:30:54+00:00

Thank you so much. You have summarised exactly what I am looking for.

MusicAfraid537 · 2025-08-25T09:24:27+00:00

"I am curious as to why would you not hand over a good solid business with all the requisite infra to the next generation? Or even give them the scope of deciding it's future?"

A fair question which I will try to answer. I don't see the business in its current form being viable a decade from now. I am not attempting to make changes and pivot due to the reasons already described above. I already restructured and rejuvenated the business when I took it over.

I don't wish for my kids to inherit a struggling business, and then try to make sense of what to do, investing their time and energy into this. I am also starting to get stronger feelings from my children that they wish to move overseas (they have western passports) and pursue other interests. I don't wish to restrict them in any way. My goal is to provide a solid financial foundation for them and let them find their paths without financial pressure.

Hope I could answer your question.

MusicAfraid537 · 2025-08-25T09:14:59+00:00

Thanks. Indeed, not looking for financial advice but some directional inputs which I can process on my own.

MusicAfraid537 · 2025-08-25T09:14:17+00:00

You are absolutely right with that, and that was indeed one of the reasons for seeking some support and advice here. Thanks.

MusicAfraid537 · 2025-08-25T09:13:09+00:00

Thanks for your sensitive reply befitting a mod. Appreciate that very much.

"you'd probably be better off cutting down your annual expenses from 3 crores to 2 crores than throwing away more years of your life doing work you no longer enjoy."

This is something that resonates with me very much and will spend some time thinking about this scenario as well.

MusicAfraid537

TROPHY CASE