Your FIRE number is?
How much do you think you'll require at the age of 45 to retire comfortably and move to a tier 2 city in India in TODAY'S VALUE?
Considering:
- You already own a house
- Kids education still needs to be taken care of
- 2 Kids
- Both partners retired
- No additional income
- Minimal amount for kids marriage as your responsibility
One interview, 1000+ job opportunities
Take a 10-min AI interview to qualify for numerous real jobs auto-matched to your profile 🔑I'm surprised a lot of people are going for 8-10 Cr Its might be a bit of over statement considering a tier 2 city
- Younger crowd at 25 have to plan for 20 more years of work, followed by 40 years of retirement.
- Lifestyle expenses have gone up in just the last 10 years
- Medical costs shooting up
- Extra money for day trading to keep busy
Probably employees under 25 who are just starting out and fully ambitious not knowing about the reality.
Let's do math :
Even if you do FD you will get 6 lakhs per 1 cr in FD per anum.
With 2 cr you will get 12 lakhs tax free per anum. Let's say you continue investment in NPS, PF etc you can earn upto 14-15 lakhs tax free. So, 2.5 to 3 Cr portfolio will fetch you 16-18 lakhs er anum.
Now this is your fixed income. Rest 2-3 Cr you can invest in Inded funds. The thing with MFs is that they do not guarantee returns at all, markets can go sideways for years and fetch you absolutely 0 returns on investment. So you diversify and do careful allocation. However the number of units will remain same. And may take years to get you appreciation. Let's say you did long term investment only then you may see 12-20% upside. Plus some active investment from your fixed income.
So a portfolio of 4-6 Cr is bare minimum.
Good thought
Guys i am 28 and wish to have 6-8Cr by 45. Started investing last month for 15k into SIPs. Can invest another 15k more after 12 months and 30k more after 5 years, have a loan.
Please can some help me in terms of finding out my fire number
I can help. Just search your favourite luxury sports car’s price. Multiply with 2 for lean fire. Multiply that with 20 for fat fire number. This might seem extremely dumb answer to many people, but this method is the easiest one.
Trying to figure out the same. What age u r now and what's your target retirement age?
Im 38 working in a service based it company from the start. I have around 60 lakhs in stocks and 53 lakhs and pf around 22 lakhs and a flat which I bought valued now at 70 lakhs. Im planning to retire at 43 with a corpus of 2.5 crore if not more.
I would not retire, I like to work , maybe at 5 cr + home I would stop working solely for money , but retiring early is not on my wish list
Every youth is popping up with desire to get old as soon as possible with utmost preparation as if some pleasurely magic happens on getting old !
Why isn't anyone even thinking once of utilising the best of the current youthful years and do the most of it.
Money would still be earned , why not see what's missing in current time, that old age is looking like a guaranteed pleasure. Why not just fix the now , and live fully and fearlessly now !
Well written!
More than ₹5 crore in savings. I’m saying this based on my father’s experience. He’s self employed and had already reached the crore mark at the start of the previous decade. Now in his 50s, he has achieved all this without ever taking a loan not even during tough times, as our family prefers to stay debt-free. We live in a Tier 2 city in Maharashtra and, in 2021, we inaugurated our new 2,500 sq. ft. house worth ₹4 crore, fully equipped with modern amenities.
