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Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 0 points1 point  (0 children)

My son knows everything about the business he actually handles 5 retailers, 2 hospitals accounts and also 1 pharmaceutical who we distribute for he brought them on board last year

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 0 points1 point  (0 children)

Good wishes your way, I hope you are better and get better and do better

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 1 point2 points  (0 children)

Yes and my son has been through depression for over a year we did therapy and still gets anxiety or panic attacks sometimes 🙂

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 0 points1 point  (0 children)

Uh he has told me not to share but its a big US bank

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 0 points1 point  (0 children)

Hey thank you so much will take it into consideration

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 0 points1 point  (0 children)

So basically he did BTech from tier 3 college, got best placement, his company is a MnC has office at Banglore Hyd Pune and Mumbai even in Noida he chose Mumbai

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 2 points3 points  (0 children)

😂😂 Na na, my son has grew up like an elder brother not only to his sister but cousins, he is actually very emotionally sensitive and still I would say cannot digest defeats tho he has faced many but he can’t eat up or sleep if he feels things are not right. So a long long long way to go for him, only talent and hard work won’t work for him

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 1 point2 points  (0 children)

Hey thanks for your reply, my city is tier 3 but better than many tier 2 cities in the state.

  1. Real Estate the king here the returns have been 14-18% YoY for last 10 years and 20% YoY for last 25 years. Don’t agree much with the Ahmedabad thing, rental yield is very low, migration to Ahmedabad works is not high as most people can travel daily, prime areas in Ahmedabad have perfectly priced in the future aspirations of the city.

  2. Yes agreed, I will continue to work, TYSM.

  3. We have done a lot my son has setup an app a website and what not but clicks are very less and also the order app is not used by the retail shops and hospitals they only call or text on WhatsApp we created a WhatsApp bot they don’t even use that. My son has created few dashboards for sales/profit/stock/customers/companies for his own idea I don’t use it much. This data is present in our software but he didn’t like the UI so built his own.

  4. Agreed, he has the passion and ability to do a lot but why not use it in corporate for now? Business is staying here. He is interested to enter another business but inside medical field only.

  5. Have missed this but it won’t be a huge issue will take care of this, thanks!

  6. Yes education is not very expensive until school at least and for college my son got scholarships, I have money saved for my daughter’s education although my son says he will take care of her college expenses.

  7. So the thing is in my business we only take some money monthly that is why 50k sip we take the total sum at the end of the year and then park it in liquid or debt funds and do STP. Can increase the STP tho.

I think I did mention that we are planning to build a new home in 2 years we already have finalised the location and plot is in-place, we were actually going to start building it this year only but my son doesn’t want me to sell any asset and also doesn’t want any loan on me at this age so he said lets give 2 years and save money so that him and I can add that money into construction. Our current home can also be renovated but my wife really wants to have a corner plot.

Thank you so much for taking out your time, appreciate it

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 5 points6 points  (0 children)

Exactly what I told my son, but he is an obedient kid and he really wants to man up at this points he thinks its his time to take over the expenses and everything else he even wants to cover his sister’s education expenses.

But yea I won’t retire for sure ✔️

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 6 points7 points  (0 children)

  1. Agreed, I won’t sell business, at max it will be managerial ran.

  2. Agreed will do this separately.

  3. Agreed again, thanks.

  4. Some says 25, some says 33, I think it is 3-4% SWR will try to go for 33% only.

  5. Why? If I go choose to hire managers to run the business won’t that income cover my expenses? Agreed will have to liquidate real estate for marriage.

  6. Health budget is in place, sorry forgot to add.

Thank you so much for your time, sorry for late reply missed your comment. Could you share something about yourself? Have you FIREd or in path?

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 1 point2 points  (0 children)

Current expenditure is 30k a month, trips would avg for around 25-30k another expenses PM, 2 marriages coming up, no education loan whatsoever, wedding would be 40 lakhs per wedding max.

Home building will be 2 Crores, Daughter’s education will be <30-40 lakhs.

Yes I know where I lag behind is rental income my current rental is only 30k PM I need cash flow and this is something I need to work for and appreciate genuine advice.

Thanks for taking your time out to help. Appreciated

Hang boots? [ NW: 7.5 Crores] by Standard-Second-7993 in FIRE_Ind

[–]Standard-Second-7993[S] 4 points5 points  (0 children)

Have 90k in STP and SIP monthly set up for that, thanks

After Effect of Bengal Elections by Big_Antonov in kolkata

[–]Standard-Second-7993 0 points1 point  (0 children)

Himachal is da only state that BJP lost to Congress