FIRE at 30 now aiming for 10 crores
I've hit my FIRE goal of 1 crore! 😎 Most of my savings, around 90%, are in equity mutual funds, and the rest is in bank FDs, gold, and other stuff.
How did I do it? Well, half of it was from my regular salary savings, and the other half was a one-time receivable of 50 lakhs. Not expecting that kind of luck again, though. Right now, I'm saving about 1 lakh per month.
But lemme tell you, bro, it's not been easy. I've skipped eating out, going to movies, concerts, and pubs. I don't travel anymore. And I've decided not to get married or have kids because, let's be honest, FIRE is tough with a family.
Now, I need your advice. With my current savings rate, do you think reaching 10 crores is possible? What should I change to get there faster? Any tips would be awesome!
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You mean to say you’re achieving FIRE at 1 crore corpus ???? 🫨🫨
Isn't 1Cr too less?
bhai kiske liye kama raha hai, sara paisa jo mehnat se save kiya hai, kaun lega ?? bad idea to not have family and kids. think again. the hardwork we are doing, we should take rewards and let the next generation also take reward
no offense to anyone who wants to have a family but, why can't the answer to this question of "whom you are earning for" be "just for myself"?
I mean, when you've been grinding your ass off for ages, trying to get those marks in school, then trying to understand those brain tiring PCM concepts to get into IITs/NITs, and then again trying to get those CGPAs in college, studying 15-20 subjects to get a good placement, AND THEN AGAIN working 9-5 jobs to get the learning and work experience, all these while other privileged folks out there enjoying the shit out of their life for the whole time by travelling, going to clubs and concerts, buying expensive cloths, shoes, phones, watches etc.
They could do it because they had been provided with almost everything directly in their hand by their rich parents. There is very little compromise on their side to have a family. But for me, this cycle of sacrifices still won't end if I start a family. Even if I'm earning very well, there is actually a generational gap of wealth between me and folks out there. So, I either decide to have a family and build a life for them, or have that life for myself.
This is just my own opinion, and I don't expect any other person to relate to this.
Lol. I'm 43, having a total net worth of 6 Crore.
I do eat out, I've two kids. I do travel. I live a normal life.
"One time receivable", it was from ESOPs ?
Is this a troll post? Why are you not living life for savings only mate?
Strike a balance else the money won't be worth it. R/FireIND and r/FIRE are good places where these are covered in multiple posts
Yes, very much possible. If you're getting 20% returns from current investments then your money will double every 3.5 years, so you can do the math of when you will reach 10cr
And what are you planning to do with all these numbers. Think deeply then reply.
Fire implies you're done working and retiring . Also at 1cr, good luck