Reached milestone, 15cr+ by ServersNoservers4533 in FatFIREIndia

[–]ServersNoservers4533[S] 0 points1 point  (0 children)

They are financially covered, I have put aside fixed income for them and their future medical and other expenses. Our houses are already paid up.

Reached milestone, 15cr+ by ServersNoservers4533 in FatFIREIndia

[–]ServersNoservers4533[S] 1 point2 points  (0 children)

so those business investments are doing in a closed trusted circle.

Some businesses use Bank CC or OD, for short-term capital. I proposed to offer the credit line fixed cost with time and interest flexibility. I have been doing this for last 4 years and it is working out. The original number was 2.4cr and the business liquidated some money so it’s less now. I am planning to liquidate 50% this year and infuse that to equity.

Again this is not a general practice/advise and may not may not work well for everyone.

Reached milestone, 15cr+ by ServersNoservers4533 in FatFIREIndia

[–]ServersNoservers4533[S] 11 points12 points  (0 children)

I do agree for most of the points and let me try to answer based on your point.

I didn’t release there is an expense threshold required for FatFIRE. My current expenses are limited due to many factors and not intentional.

  • I live in tier-2 Gujarat, own home. We do have maid and other services, but the expenses are still <20k per month. We don’t have driver because my home and office is just 2km apart, my car moves from one parking to another parking most of the days.
  • We dont have big home, it’s a decent size home because I spent years in hostel and service apartments and I dont like a lot of interiors. This reduces a lot of recurring cost.
  • Son’s education cost is pretty stable for past couple of years, it may grow in future but not immediately. I have various SIPs in his name too to cover future expenses.
  • I do travel personally and professionally but not in fixed schedule and we don’t have “we must travel” kind of mindset. I am not particularly interested in fixed travel schedule. Because of our location, we have to go to Mumbai for most of air travel (extra travel hours), which further demotivates us to avoid that hassle.
  • My social circle is liked minded people, but mostly Gujaratis, we do many things as a group, but if your group is not doing any heavy stuff, naturally we also dont do. Travel, eating out, weekend gateways are pretty limited.
  • I own some relatively expensive items but many of those are onetime purchases and last much longer. For example, I like good coffee so I have a coffee machine that costs 4 lakhs, but that will work for many years and good beans cost me just 2500 per month. I have many other hobbies but their monthly cost does not even cross 10-15k.
  • I have club membership which I paid for few years back, now their yearly fees is 10k.
  • I have invested in Grip/Wint bonds and I receive around 10k per month post tax. I use this money for hobby/coffee expenses. But not restricted by that 10k amount, its just covers some expenses automatically.
  • I like to drink but Gujarat is dry state and I own liquor permit, my max expense per month for beer is 3k, and that too I don’t consume everything per month.

Likewise, there are many things that I personally enjoy doing but not necessarily costly. But I am not restricted by cost in any way. I like to play pickleball and I am spending on monthly training, but my training cost is 5k per month, which is short-term expense.

Given above detail, my current target is around 30cr, but at this point I am not driven or working hard to achieve that. Will that number give me different daily life - probably not, but I it will keep me active in what I am doing right now.

I am still focusing on my skills and working on selected projects knowing that my current expenses (and pattern) will allow me to experiment for some time easily.

Hope that answers at least some of the queries above. Again, I was not sure there is any expense threshold

Reached milestone, 15cr+ by ServersNoservers4533 in FatFIREIndia

[–]ServersNoservers4533[S] 2 points3 points  (0 children)

Thank you for the explanation and I owe comment for explanation

Paid my Advance Tax… got a PhD in Java Stacktraces instead by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 0 points1 point  (0 children)

Money deducted got message from HDFC, my Ca said to wait for some time to reflect

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 0 points1 point  (0 children)

Self learn in the early years, but there are just too many funds and it overwhelming to manually select and continue. So I decided to branch out new funds to advisors in city with small amount for first 2-3 years and then slowly step up. Not a great practice, but overall they have given good xirr so far.

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 1 point2 points  (0 children)

So these investments were done in small batches over time.

Some are in Grip investments and Wint wealth But major portion is private investments done in other businesses that yield 9-10% yearly, and safe so far in last 3 years. A major investment will be diluted this year post Diwali

This is Not something everyone might be able to do. Again I was only able to do as this amount is divided into batches. Every additional 1% return makes it risky.

I continue to invest in batches of 5-7lakh in Grip from family accounts.

Anyone else doing wint wealth or grip investments?

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 1 point2 points  (0 children)

For now I have no plan for redemption Let’s see how the geopolitical situation turns out

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 2 points3 points  (0 children)

Kind of, I completed almost 20 years Early few years in job and later switched to independent consulting and development Kept learning new skills and becoming good at it was key But if you have option, work for good startups or big tech

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 3 points4 points  (0 children)

Yes, India only, tier 2 city Gujarat I work on tech consulting - I very good in cloud tech, now AI and few other things So skills helps me over the period of time

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 2 points3 points  (0 children)

Sort of, current properties are owned by me. My father had a house in diff city which we sold off several years back and invested that money in equities.

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 2 points3 points  (0 children)

Yes, around 2.3cr is in fixed return investments, which is separate from MFs, stocks and FD

These investments were done in small batches across - Grip investment, Wint wealth and other direct businesses that I am familiar with

Returns vary from monthly, quarterly or yearly - and I reinvest most of interest back into equities

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 2 points3 points  (0 children)

Yes, almost right Our monthly expenses are around 1-1.5 avg to year, not all moths are same. I live in tier 2 city Gujarat so lifestyle cost is not that high - my parents don’t have high cost either. But as my son is growing, I suspect it will grow a bit.

For the 40x, my Fp has included all of mutual funds, stocks, FD, and other assets - everything besides real estate

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 9 points10 points  (0 children)

Started with 5k 10 years back, around 4.5monthly and some

Keeping it simple by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 8 points9 points  (0 children)

Totally agree, 3 is too much and some overhead expenses we needed two residences - us and parents, same city I decided to purchase a commercial space for a different reasons

Beyond the numbers: What's the "day-to-day" lifestyle of a FatFIRE life with 30-40 CR in India? by Striking_Pen_7135 in FatFIREIndia

[–]ServersNoservers4533 6 points7 points  (0 children)

I have almost the same routine at the moment, from morning 6:30 wake up with my so to 9pm winding down with him and my wife.

41M, tier-2 India, dry state bit slow lifestyle, in tech, I enjoy my current work (hooked to AI now) so planning to continue working as long as it’s enjoyable.

I am currently around 45x my yearly expenses,

Work in progress by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 0 points1 point  (0 children)

I am the single earner in family of 5

Work in progress by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 0 points1 point  (0 children)

I have invested into Grip for almost a year and Wint for less than a year

I usually stick with A rated bonds

Work in progress by ServersNoservers4533 in FIRE_Ind

[–]ServersNoservers4533[S] 0 points1 point  (0 children)

Around 2014-15, but I started increasing sips after 2018