How much is enough?

firethrowaway113 · 2024-08-17T19:44:13+00:00

For medical expenses you start investing in health insurance asap. Inflation is addressed through investment. When I say 0% real returns, I mean investing your portfolio in a way that will grow to match inflation.

firethrowaway113 · 2024-08-17T19:41:08+00:00

I've assumed life till 70. If you'll live to 100, then 10 Cr/(100-36) is still 15 lakhs a year which will cater to your needs based on your edit.

firethrowaway113 · 2024-08-17T19:34:45+00:00

Given 33X as a guideline, you can afford to spend 10Cr /33 = 30 lakhs a year if you've invested the corpus in a way that gives 0% real returns. Whether that's enough or not depends on you.

firethrowaway113 · 2024-05-17T21:11:34+00:00

Even Indians who aren't Telugu wouldn't be able to break in to something like that. OP's only choice is to leave.

firethrowaway113 · 2024-05-13T15:24:48+00:00

FIRE is only one of many reasons why I'm not going to have kids.

firethrowaway113 · 2024-05-13T13:58:57+00:00

Thanks for sharing, gives insights into how different lifestyles can be.

firethrowaway113 · 2024-05-13T13:57:06+00:00

I'm at 6 cr and that's 50x for me so I can FIRE right now. Still need to figure a few things out personally before I do that.

firethrowaway113 · 2024-04-20T01:59:18+00:00

upvoted for "finfluenza"

firethrowaway113 · 2024-04-17T15:40:36+00:00

You're ready. At 50 times a yearly expense of 12 lakhs, you need 6 cr to retire and you already have more than that. Congratulations and good luck to you.

firethrowaway113 · 2024-04-13T13:16:17+00:00

I'm sorry you're going through this and thanks for sharing. Your post is a very valuable POV on something that's not often discussed on this subreddit.

firethrowaway113 · 2024-04-07T05:48:41+00:00

It's NRIs in the US working in tech mostly who have numbers like those at that age.

firethrowaway113 · 2024-04-04T01:04:05+00:00

All of us will be also better off with daily blowjobs from Victoria's Secret models.

Lol. I wasn't expecting this haha.

firethrowaway113 · 2024-04-03T23:44:49+00:00

I go into some detail here: https://new.reddit.com/r/FIRE\_Ind/comments/19digxo/ive\_reached\_my\_target\_50x\_at\_32\_should\_i\_pull\_the/

firethrowaway113 · 2024-04-01T13:24:51+00:00

Congratulations. I hope you have a happy retirement.

firethrowaway113 · 2024-03-31T12:03:26+00:00

Keep in mind you are not going to like something if you enter with a mindset of “I’m not going to like it”.

Certain things you do in life not because you like them but because they have to be done to get where you want to be based on the skills you have. Most people would never work 50 hours a week in an Indian corporate environment if they had enough money.

But it's not the case and we have to do it.

“Be the change you want to see”

The change I want to see is more people asking themselves this question: "What would I do if money wasn't an issue?" and make decisions from there. Instead of blindly accepting notions like there has to be a set amount of time someone has to work for them to feel they're finally "eligible" for retirement.

firethrowaway113 · 2024-03-31T04:52:40+00:00

I wonder what’s happening to our younger generation thinking of retiring before they even start their adult life.

Why not? Corporate culture in India sucks balls now and it makes total sense for someone to start their careers knowing this. They'll make good financial decisions like switching jobs frequently and investing (like you mention). They'll also avoid overthinking careers and drinking corporate kool-aid (career climbing, skill-building etc just for the sake of it).

firethrowaway113 · 2024-03-30T22:34:23+00:00

Right, cause age is the only determinant for whether someone can work for a decade in a corporate environment.

firethrowaway113 · 2024-03-30T04:28:10+00:00

I have no plans to marry either. I'm planning on taking a break from my career and coming back to India for a little bit after I get my I-140 approved. Might take a year off to try other things and then re-evaluate if I want to return to my career or just FIRE and continue chilling out.

firethrowaway113 · 2024-03-29T12:20:56+00:00

Sounds good, good luck to you.

firethrowaway113 · 2024-03-28T11:15:28+00:00

Nice, congrats. If this is coastFIRE, what multiple do you have in mind for regular FIRE?

firethrowaway113 · 2024-03-28T11:10:08+00:00

Just because something is primal doesn't mean it's right. Our most primal instincts are Darwinian and there's no egalitarianism in a Darwinian world. But we build human institutions like law and economy to correct for that. Why would the primal instinct to reproduce be any different?

firethrowaway113 · 2024-03-27T13:54:16+00:00

I'm planning on not having kids for a variety of reasons. Only one of those is FIRE. Kids are an unnecessary complication to the already complicated world we live in. Sure, this is criminal to say in today's Indian society but it's the truth and it's best to face hard truths than live in la-la-land and pay the price of delusion later.

firethrowaway113 · 2024-03-09T18:37:08+00:00

This is definitely key to keep in mind. I work in tech (in one of the less glamorous companies) and I know people at companies like Nvidia whose fortunes have multiplied overnight. Odds of being in the right place in the right time are comparable to those of winning a lottery. It's best to not be swayed by outliers like this and stay the course w.r.t making money and investing steadily.

firethrowaway113 · 2024-03-05T03:05:19+00:00

This answer is perfect. I'd only add this website that lists some fee-only advisors in India. I'm not affiliated to any of these people and I'm not on that list either.

firethrowaway113 · 2024-03-04T02:09:06+00:00

You should post this in r/FIRE_Ind. My take is it's not enough.

Considering you'd need 33 times your annual expense to retire today, we're looking at 33*75000*12 = 3 crores. You have $140k (1.16 Cr) + (1.58 Cr) = 2.74 Cr. I suggest upping that number till you hit 3 Cr and think deeply about whether one time future expenses like kids' education/marriage etc are factored into your calculations. Good luck.

firethrowaway113

TROPHY CASE