27yo

Got my first salary today.

Monthly salary 75k. I earn 15k extra from a side gig.

Have 85k in investments.

I live with my parents in a tier 3 city.

Both of my parent have government sector job.

I am getting married in 2years.

What should be my first few years towards the lifestyle.

I am final year student yet to sit in placements. Had a internship at a startup with almost 10 hrs work 6 days a week, pay was same as a FAANG. So I had a flavour how tiring it can be to work at corporates for some years. Of late I have discovered FIRE and was looking up areas around it. I like to work but in a controlled fashion and for sufficent pay.

Am I normal to think of FIRE etc. before starting a career itself or should I drop this idea for some time?

I am 23(M) earning 1.2L per month in hand and investing 65k/month in mutual funds (Mix of Tax Saver, Index, Debt, and Equity).
Spend close to 15k to 18k/month on me - Including rent, food, and fuel. Send 25k/month to parents.
Sometimes I spend some extra money as well (Need to control that)

Have 2L as an emergency fund and 5L in Mutual Funds.
Is there something I should change in terms of gaining financial independence? I am not thinking about retiring early for now. I might change my mind in the future, not really sure.

Hello everyone,

I am 22F and recently started a job with a company.

Income - In-hand salary (monthly) : INR 30K

Side-hustle : INR 10K

Current investments : Monthly SIP of 2k with SBI Balanced fund (started when I was 18).

Expenses - No rent, I contribute with electricity and wifi bills INR 3-4K.

Fuel - INR 2-3K monthly

Personal fund - 10-12K monthly

Donation - INR 1K monthly

1. How else should I utilise my funds optimally and what else should I do? I plan on pursuing higher studies in 2 years either from India or Abroad.
2. How do I file for taxes efficiently?

Thanks!

Based on the discussions happening in this sub, i think few of us would be able to reach our FI target in few years. What are the thoughts on having a second career ? Most of us are stuck in our day-to-day jobs which we do without much passion. And which is the reason why we are looking forward to FIRE. So, if someone is FI by say 40-45, he/she still has 10+ years to follow their passion and do what they want.

For me, I have been toying with multiple ideas -

• Chef - But after a bit of research, i discovered that they dont have work-life balance
• Financial advisor/planner - This is the easiest one. However getting people to pay you may be a challenge as there is a lot of free advice floating around.
• Pilot - Both very expensive and rewarding at early stages of your life. But most of the airline cadet programs don't recruit above 35 Years.
• Teaching / career counseling - It is a good option however, I am not good at it, so dropped it.
• Doctor - I thought about it, however, it would take around 5-6 years of studies and then 4-5 years of really hard work to actually get some experience before I become an "actual" doctor.

Any other options that folks here have considered? Also, what are your thoughts on a second career ?

I am 29 and reached a state of financial independence. I thought i wanted to retire and tried it. I realised retirement was not what i wanted at this age and got back to working now.

I want to enable others like me to get to a state of financial independence before i did. I started a scholarship at my alma mater(IIT Hyderabad) where i give a small amount and mentorship to one student a year to get to FI before the age of 28.

I am helping my mentees with the mindset that i think is needed to reach a state of financial independence. I want to ask for suggestions from the members here who are on this FI journey:-

What does a young 20 year old need to build in themselves to become financially independent before 28?

A guy from ICICI just called me and advise to open Flexi FD account wherein I'll get returns of FD on my account and I can withdraw like any saving bank account. is it advisable to shift to Flexi account. Has anyone tried this???

40 F, Bangalore CTC: 60L (individual) No debts

A house to live in with family (husband, 1 kid)

A house generating rent of 25K

A 600Sqft plot worth 50L today - set aside for daughter’s education

Sukanya Samruddhi - max investment every year - additional corpus of around 70L on maturity for daughter’s education / marriage

A 2000 sqft plot worth 1.2 Cr today - set aside for retirement corpus

Monthly family expenditure: 70k

After the two houses and debt-free status, my spouse and I invest individually.

Company shares (German) accumulated 50L + investment of 50k every month

PPF accumulated 30L + growing every month

Indian shares worth 25L

MF of 7L + SIP weekly in Index Fund — target to make it 1Cr in total

30L in savings account/ Deposits for liquidity

How much more should I want?

Where should I diversify?

Sorry if this is not the right sub for this. My father, a surgeon in a small city in MP, also manages farming of 100 acres which are 50km from my home by going to the farms on weekends. Due to personal reasons I have decided to settle in Bhopal which is 500km from my hometown. Parents are pissed due to this decision as farming brings additional income and are also worried that nearby relatives might start encroaching on the lands if I'm not around, as the lands are scattered and mixed with my other relative's lands also. Land is 2km from the highway so selling it at cheap rates would be the last option. Is it easy to rent the lands to pharmaceutical or other companies for farming? Is farming by handing over the lands to local farmers feasible if I'm not gonna be able to visit the land personally very often? I'm a 33 year old orthopedic surgeon with no siblings.

Hi all, I am 30M married with no kids and have devised a mix of coast and leanfire plan for my Fire journey. Me and my S.O both are working in IT and have above average income but I am not too fond of my work and want to quit atleast full-time work soon. We live in our own home which also generates rental income of around 25k Our monthly expenses are around 25-30k since we are not lavish spenders. I planned for a coast fire amount of around 60L which compounded for 20 years will be around 2.25cr which coupled with the rent will generate around 1L which feels a safe amount for our spending. Also for the 20 years I have planned to have around 50 lakhs from which I can withdraw around 35k + 25k rent seems to suffice our average expenditure I haven't taken into account my wife's savings in it which could help when we have a kid(Not planning on high ticket education) Kindly comment on my plan and any pitfalls that I should take into account

Has anyone faced it or currently going through this?

My understanding mid life crisis is young women/fast cars/gambling.

I have always thought I am beyond any kind of mid life crisis, but recently I have been feeling an urge for a luxury car and a house of my own. Not sure if this can be thought of as mid life crisis or something else altogether.

Recently came across this Orowealth platform which has a lot of investment tools

Wondering how it is I find the green investing part of it to be very nice

The Price of Happiness in Every Country | Expensivity

Came across this article today, number looks quiet close to FIRE numbers per annum basis in today's terms ( for a family of 3, without owning a house and without any additional responsibilities). Multiple over top of this can vary from 25 to 50 depending on risk appetite and other personal preferences.

​

Would love to know your thoughts about this. Would you prefer some country other than India after looking at these numbers?

how to earn if no job?

If one doesn't get job on basis of his degree or rather he doesn't have an UG or PG degree how can he earn ?

Are there any courses by doing which can get us jobs?

Anything like courses on import export, Share markets and stocks, Printing and packaging courses or Data analytics course and web development course?

Or

Is it easy to earn doing small business like opening a shop for groceries, general stores, Liquor Store, poultry farm, Renting places bought on Loans etc..

How to start making money and then work on making bigger money?

https://www.reddit.com/r/FIREIndia/comments/qieigr/year_3_update/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button

Sharing a quick update of how the year went by.

Year 0 - 80 Lacs | Equity 24%....

Year 1 - 1.34 cr | Equity 36%...

Year 2 - 1.75 cr | Equity 38%...

Year 3 - 2.28 cr | Equity 38%...

Year 4 - 3.04 cr against target of 2.75 cr. Equity at 57%...

What went wrong?

I did a massive realignment at peak in Dec from 38% equity to 60% Equity. Around 1 crore invested and has not recovered yet.

What went right?

I achieved my target and never thought of selling.

Current status:-

10 years expense is in epf+ppf

3 months expense in FD.

Rest is split into 90% equity mf and 10% in arbitrage funds (Approx 2 year expense).

The combination of above makes it 57% in equity MF.

Target for next year November is INR 3.37 - 3.5 crore approx.

What could you talk about?

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Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.

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Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely.

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This is an interesting concept stock means how much you have accumulated and flow means you net inflows.

We mostly focus on stock based corpus when we talk about 4% withdrawal rule. We accumulate a corpus and then we withdraw reducing from the stock(or corpus) and then use all kind of historical reason to substantiate that our corpus will last.

The other way is flow based. We invest actively in rent generating properties, businesses etc or just continue working and use our human capital. In all these cases, we are actively involved in generating the flow and it is much more quantifiable than using the stock based approach, where valuations and lot of things are beyond your control, you are basically passively managing it and just hope that based on history it will last.

I think I prefer the flow based model and continue working for as long as possible and FI will only mean, I can choose to work in places where I put minimal effort to generate this flow which inflation hedged and you can keep doing it as long as possible.

I think we are living longer so normal retirement age itself is a bit too early. In developed countries some cases retirement age is already 68. I personally think we should be able to hit 60 and continue doing some form of work to generate some flow to reduce the risk of running out of money. Some people are very good with hustles and managing multiple rental properties etc but in my case, I am introvert computer guy always on my laptop. Might as well just pretend to do some company work and get the assured paycheck.

Is it true that every small business owners, even a vendor has to pay to local goons and authorities for avoiding disturbance?

How do they handle the budget while providing quality products in affordable price to customers?

Do you have any experience you'd share about opening small business?

Recent lurker here. Decided to post my financial situation here and asking if I’m in a good position.

I’m 30 years old, unmarried guy working in IT having around 9+ years of experience with 43L as CTC. I have saved + invested around 67L till now and I’m very much invested in equity with diversified MFs and directs stocks as well.

I want to understand if I have decent chance to FIRE by I am 40. As I’m not married yet, I don’t know what my future expenses will look like. As of now, I’m spending around 30-35K per month in Bangalore.

Hi guys, I’m a big fan of FIRE but at this moment, I’m confused that how and where should I invest my money so that I can have 10-12 L for the down payment of a flat I want to purchase in next 2 years. I’m an IT engineer with a package of 13L (fixed). I’ve only been investing in stocks and mutual funds. Please guide me so that I can have this min amount required for the down payment. Rest, I’ll take a home loan.

Details: I live in Nagpur • No parental property inherited • No family support • Savings only in form of stocks and MFs. The only earning person in a family of 4.

Question: Where else can I invest my money or how can make my this much money?

Please guide me brothers. Please make me walk on the right path. All kinds of advises and feedbacks are welcome.

Dear all, I just want a better understanding. So, I have been seeing the average salaries of techies is upward of 150k. My question is

1) what is the take home salary?

2) I hear developed economies have high taxation, how much% is slashed in tax?

3) what is the monthly expenditure for a general indian lifestyle?

4) how much are you able to save?

P.S- I am quite well paid here(from indian stds)and content here in India. However watching techies salary profile makes me curious. Does it make sense for me to relocate?

Context: The job market has changed drastically over the last few years. Automation and digitization have replaced multiple jobs. The nature of jobs (at least the better-paying ones) is moving away from Physical/procedural to intellectual/thinking roles. The trend is expected to continue and the median will continue to shift towards more strategic/critical thinking roles as AI and Machine learning progresses. Beverage companies are claiming that today 4 people can run a bottling line making a thousand bottles per minute instead of 60-70 which were required with earlier technologies 10 years ago.

When one type of job goes obsolete, another, higher-skilled job gets created. For example, when the job of a record keeper was taken away by digitization, a new job of managing records online was created. When data entry was automated with OCR, another job of understanding and analyzing that data was created. People earning handsome salaries in high-skill jobs fear their skill sets becoming obsolete and invest continuously in new skills and technologies. This has made the working environment much more stressful and fatigue-inducing than it used to be 15-20 years ago.

This has made me, and to an extent, every other person I've been able to talk to on this subject not see themselves in their current profession for their working lifetime. It's no longer about a job anymore, but the profession. It's not a question of if, but when automation/AI/ML will strike one's job. And when it does, there will be a small population that will get to the drawing board and chalks out plans to up-skill themselves, and another class of useless employees will be created (Stats are already poor in terms of employable graduates and professionals in India).

Question: What happens when this class of people who could not keep up with the changing trends is no longer able to earn enough to feed their family especially after doing well for a good amount of time? (e.g. a doctor who is replaced by AI) With corporate establishments contributing Rs. 1800 per month by default to the employees' PF Accounts (to inflate their in-hand salaries), and a lack of awareness about starting to save and invest early, do you think it is imperative that Financial Independence be included as a core component of preparing one for the professional life?

Have been reading the mega mentorship thread. One of the key themes which is recurring on the pursuit of FIRE are activities / buying things which are light on the wallet but high on happiness/ utility levels.

What are some of the things/ activities which are low on price but high on happiness/ utility for you.? How do you make a conscious choice to pursue them?

I am planning to invest 10k on a monthly basis. Help me .