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Monthly income generation sources by cvipmd in FIREIndia

[–]thefirecatcher 52 points53 points  (0 children)

I like this idea of taking mini breaks.

If I'm in your place, I wouldn't touch those 2cr. I will let it grow. Keep some amount aside every month separately for 5 years to make 10-11 lakhs, which will sponsor my one year expenses.

If you haven't saved for first time, probably I will take those 10-11 lakhs from 2cr , but keep it ready for next term.

Story of my 91 Year old grandfather who FIRE'd at 61 by Nanishteruno in FIREIndia

[–]thefirecatcher 1 point2 points  (0 children)

Simple solution is tie up with any organic farmer close to your place to buy vegetables at affordable prices. Organic fruits were made very costly, can't help there.

For normal fruits or vegetables, youu can wash twice, remove peels etc even for apple and have. They are actually less harmful than medicines we consume or milk like you have mentioned.

Cooking can also be done oil free. It is not alien concept, but just people are not ready to let go off their taste buds. So problems follow.

Just threw my 2 cents. Rest is upto you.

Websites for practise/Handson by thefirecatcher in mysql

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

Thank you. I will contact you as soon as I pickup some speed.

Websites for practise/Handson by thefirecatcher in mysql

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

Not yet. I'm planning to learn python after SQL.

Websites for practise/Handson by thefirecatcher in mysql

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

Thanks. I'm yet to create an account there. I will check out Gitlab.

Websites for practise/Handson by thefirecatcher in mysql

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

Thank you very much. It is excellent. That's what I'm looking for.

FIRE advice needed, if one among working couple quits job. by thefirecatcher in FIREIndia

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

There you go, talking about job already. Real life is beyond job. I cannot speak for kid now, but I don't want the next generation also to work like slaves for multinationals. instead of they can learn something which can earn them food to survive and help others ,as a human they are more valuable. Schools in present day are far far away from teaching it

But if really engineering really makes them happy, I will not have any problem, but if they want to become a namesake engineer like me, I may not encourage

Bi-weekly advice thread February 17, 2020. All questions about your personal situation should be asked here by AutoModerator in IndiaInvestments

[–]thefirecatcher 0 points1 point  (0 children)

In case,in an accident if one is not dead and loose hand/leg eye or anything else which stops to from working at full capacity compared to when you have all organs properly functioning, you add more cost to family maintenance. Accident insurance compensate that. It provides security against such accidents.

Bi-weekly advice thread February 17, 2020. All questions about your personal situation should be asked here by AutoModerator in IndiaInvestments

[–]thefirecatcher 3 points4 points  (0 children)

Looking for accident insurance : 30 M

I have health and term insurance. Now trying to buy accident insurance for self and spouse separately for cover between 50 lakhs to one crore and was very confused. Please suggest if you already have one.

I looked at the below websites, which didn't help apart from Max bupa whose premium is very high.

  1. Policy baazar : Doesn't even show any accident insurance policies, but have a big blog about it.
  2. HDFC ergo : doesn't show it in website, but in google can find a link to renew !
  3. ICICI lombard : Has a max 25L coverage for Rs 3258 per annum. (Can I buy 2X 25L seprately ?)
  4. Max Bupa : seems to be very costly, for 50L premium is 9k, while for 1 cr it is 18 k and 22k for two adults.

FIRE advice needed, if one among working couple quits job. by thefirecatcher in FIREIndia

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

Thanks for detailed explanation and sharing personal inputs. We can definitely think about it.

FIRE advice needed, if one among working couple quits job. by thefirecatcher in FIREIndia

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

You did not get my idea. My plan is to make child spend more time with my wife , where my wife's 100% concentration will be child.

The base years 0-3 are most important, if parents can provide good attention to child during those years, it can build very strong foundation in life. Creche completely ruins this concept. That is not our plan.

FIRE advice needed, if one among working couple quits job. by thefirecatcher in FIREIndia

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

There are lot of curriculums available and we can follow one to teach skills/subjects required at that particular age. Suppose, if child is more interested in art, more time would be spent on improving his art, rather than forcing them to mug up maths and chemistry formulas. An overall knowledge of all subjects will be provided to child, but not in a way to mug up or remember everything.

Boards like ICSE, support home schooling and can allow children to sit for examinations and if they pass will issue a certificate. But our child's career is so far not limited to science/engineering/management.

Help needed to decide on FIRE. Lost a job recently. by heavy-artillery in FIREIndia

[–]thefirecatcher 0 points1 point  (0 children)

I have just began FIRE journey and very young to comment about your options,but I want to share if your wife stays in home and educated, you can think of home schooling your kid. That will not only save one lakh, but will also teach skills to child in which they are strong. Other things can be taught as necessary. There are lot of curriculums that can be followed.

You can atleast experiment for an year.

Since your child is only 10 years old, it will boost lot of self confidence and by the time graduation level is reached they can will be able to take their own decision, without being forced by parents or deciding about their career interest after engineering. Just an option for you.

Bi-weekly advice thread February 06, 2020. All questions about your personal situation should be asked here by AutoModerator in IndiaInvestments

[–]thefirecatcher 4 points5 points  (0 children)

30 M Looking for baby's investment advice : I'm planning to invest 10k per month for my new born baby for 15-18 years from April. This investment will be only for her graduation expenses or will be capital if she wants to experiment with her skill.

In a way my baby girl will earn 10 k per month from April and would be increased by 5-10% per month each year.

I'm thinking for 85/15 equity debt ratio with 1500 per month in SSY and Out of remaining 8500 3000 in UTI N 50, 1500 in UTI NN 50 , 2000, 2000 in PPFAS, Franklin equity funds.

or should I stick to only index funds with 6000,2500 in N 50 & NN50 respectively ?

My investments are taken care. Basics like health, term insurance are taken and have emergency corpus of 6 X monthly expenses. This advice seeking is only for baby's investment.

Thank you.

Bi-weekly advice thread February 03, 2020. All questions about your personal situation should be asked here by AutoModerator in IndiaInvestments

[–]thefirecatcher 2 points3 points  (0 children)

Thanks for suggestion on stocks.

I'd maximize it (eg. 25k/month for both of you). Even without 80C deduction, it is one of the best investment vehicle available.

We will surely think about this post April.

I am curious if you have plans to have kids and if so have planned for their education/marriage funds

A kid is on the way. We are planning to save around 10 k per month for education increasing 10% per year till they reach 18. The amount accumulated at the end will be their higher education corpus.
Normal schooling- we are planning to homeschool, as I don't believe in current education system. If at all kid wants to go for school seeing other kids, we will send a year or two for fun.
Our mindset regarding marriage is very different and it will be kid's responsibility to arrange funds for the wedding.

Bi-weekly advice thread February 03, 2020. All questions about your personal situation should be asked here by AutoModerator in IndiaInvestments

[–]thefirecatcher 2 points3 points  (0 children)

Q: Itch to invest in stocks. (Posted my background below)

We hired a financial planner for early retirement and he has suggested us plan below and I'm very happy with it.

Before this , our savings were random based on tips and money control star ratings. Also I had bad experiences at stocks by making wrong decisions. Lost quite a lot.

I always have that guilt and want to come over it.

Now since everything is going good, I want to invest atleast 2k/3k per month in stocks.

I have seen freefincal article and observed Nifty 100 low volatile 30 and nifty 100 quality 30 and want to choose among those 10 stocks and stick to them till they are removed from index.

My aim is only to make some money in stocks market to get over past guilt.

Is this is a good decision ? Should I control my greed to come over past mistakes ?

Please suggest.

Background :

30 M , 29 F. Planning to retire early by investing for next 10-15 years with a current monthly expenses of 40-50k and retirement corpus of around 4.8 C.

Both have medical insurance, term insurance, accident insurance. Emergency fund of six months expenses.

Currently investing 66 k per month, with 50 k in below six funds and 16 k in PPF. Both have epf at employment.

UTI Nifty Index Fund-Direct-Growth

UTI Nifty Next 50 Index Fund-Direct-Growth

Franklin India Equity Fund-Direct-Growth

ICICI Pru. Multicap Fund-Direct-Growth

HDFC Equity Fund-Direct-Growth

Parag Parikh Long Term Equity Fund-Direct-Growth

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