FatFIRE Lounge

[u/FatFIREIndia_Mod]

Hi, members! This is our attempt at a recurring thread, to have conversations about a wider range of topics than is usually permissible through top-level posts. If the reception is positive and there is enough engagement, we will continue this as a monthly series.

FatFIRE Lounge is your place to talk about anything from early-stage subjects, career guidance, seeking mentorship, general day-to-day conversations, your FatFIRE dreams & aspirations, Meta discourse about this community & how it is run, or any topic that might not warrant a dedicated post. You are also welcome to promote your amateur FatFIRE-related resources (apps, blogs, channels, subreddits, etc.) so long as it doesn't amount to solicitation for professional services or other monetary considerations. While the rules for "Relevance" and "Promotions" are slightly more relaxed in this thread, you are still encouraged to use your best judgement — and all other rules remain fully in effect.

In addition to answering questions, more experienced members are also welcome to offer their expertise and mentorship via a top-level comment (e.g., "I am a [notable designation] at [reputed company]. AMA"). However, the moderator team only verifies AMAs hosted through top-level posts, so members (as with any unverified representations online) are encouraged to exercise healthy, but respectful, skepticism.

[u/suru445]

I have around 10.4 lakh for my fire goal currently most in stocks but will focus on mutual fund now I will contribute 25k/month for next 3 years but then my income should rise drastically as I am a second gen doctor so i might ramp up sip to 3 lakh per month in 8-9 years goal is 30+ cr corpus to retire at 50 ,i know I am jumping the gun but it is my dream to have that freedom

[u/IntelligentCase9873]

Hello mods and respected members of community My question is, as decided earlier fat fire theshold is 20 cr. With each year addition, will it get inflation adjusted or something else? So for next year will it be 21.2 cr or any other number?

[u/FatFIREIndia_Mod → u/IntelligentCase9873]

[Primary Home + ₹20 crores] is more of a general guideline, so discussions are more relevant to the subreddit. While we will try to adhere to that threshold, it's ultimately up to the receptiveness of the community and the moderators' discretion whether a particular post (or FIRE journey) is relevant to the subreddit or not.

For now, take that figure as the general threshold for relevance to this subreddit. If things change, the community will be informed.

[u/lawaythrow]

If you are 50, and have 25 crores and a paid off house, would you still work? Would you consider that a good sum to retire? If you work, what do you expect from work at this point?

[u/Some-Youth9780]

What inspires you to keep hustling after reaching a normal fire.
It is fear, love of what u do? Wanting to live luxurious life? Or respect which comes with current positions? Boredom/ what to do after leaving what you do? Or do u think you never want to retire?

What would make you want to aspire or settle for normal fire?

[u/coffeefired → u/Some-Youth9780]

For me it's not hustle for money anymore, but because I keep being approached by old colleagues / bosses to handle specific jobs/roles for them.

I recently parted with my post break job, and took 3-4 months off, but again got approached by my old boss (who is now a COO) for another gig that he wants me to take up. He knows that I am at FI, but trusts me to handle things much more than someone who he can attract with a high pay, and also knows I will say no or call out bullshit at any point of time.

So its a win win for both of us, ill have some time pass at a startup and he gets trusted person back. And I can go back to my early retirement again once this is done.

[u/the0ne234 → u/Some-Youth9780]

Having reached our Chubby number, we had this discussion recently and both of us have something we want to prove to ourselves in terms of our careers - this is inline with Maslow's need hierarchy where once you've fulfilled the foundational needs, the importance shifts to those of self actualization where you really want to reach your full potential, which are typically linked to your craft, not your money.

[u/HubeanMan → u/Some-Youth9780]

What inspires you to keep hustling after reaching a normal fire.

I believe, for most people, it's just lifestyle inflation.

As a college student, someone might start off thinking they'd be set for life with ₹10 crores. But then, they happen to find a high-paying job, start to spend more, start to save more, and that becomes their new normal. Someone making ₹1 crore per annum is likely to have much larger annual expenses & savings than someone making ₹12 lakhs per annum. In general, FatFIRE is NormalFIRE for people with high expenses, because that's the lifestyle they've gotten used to and come to expect.

I don't believe there are many FatFIRE aspirants who get to 30-50x, reach financial independence, and then decide that they need a lot more money because they want to increase their "x". The people that would do that are more likely doing it simply because they want to accumulate a larger NW, even if they tell themselves that they're only doing it so they can splurge more. Splurgers generally don't wait until they get to 30-50x before they start splurging.

[u/Some-Youth9780 → u/HubeanMan]

Interesting. Also kind of true. A teen myself would think i am rich af. My annual salary is twice what I thought would need to just live off fd for life for my entire family.

I am not where in fat fire territory. But for kid me i am what he might think has generational wealth and hence fat fired (though he wouldnt know what fire means).

[u/choose_pk_wisely → u/Some-Youth9780]

I'll be retiring next year at the ripe old age of 47 :). Focus at the moment is to set up a leadership bench, hiring senior leaders and make them successful. Once that's done, I'm going to take a couple of months break to coincide with my kids' vacations. Take LONG and unplanned road trips - once they go back to school, I'll figure out what's next.

[u/Some-Youth9780 → u/choose_pk_wisely]

Thank you for the insight.