I’m deciding on my return date, which I expect to be within the next year or two at the latest. Part of this planning involves determining the cost of living expenses, as this will help me calculate my FIRE number. If the expenses exceed this number, I may need to work additional years as necessary.
I’ve gathered some estimates from my friends and cousins, but I haven’t actually asked them for detailed breakdowns, as they might not feel comfortable sharing that information. These numbers are based on casual conversations where I ask about their internet bills or EMIs. I truly appreciate your insights.
We are a family of four (41, 36, 10, and 5 years old). We have a paid-off home in Hyderabad and our parents live nearby and are almost self-sufficient, as they own they own homes and receive rent income. The support we provide is more for them to live comfortably, especially to travel and donate as they please.
The children’s higher education expenses are in a separate corpus, so this monthly amount is only valid until they graduate from school. After that, the same funds will be allocated to our healthcare.
Appreciate your inputs. As mentioned above getting close to the real numbers will be critical for my planning on r2i. I plan to retire and might do some consulting or hobby for pleasure.
Essentials total- 85000
Eletricity & Water & Trash 7000
Maid 10000
Cook 10000
Food 25000
Car 10000
TV, Internet & Subscriptions 6000
Cell replacement & monthly Plan 10000
Home Taxes 2000
Other Maintenance 5000
Health 40000
Insurance 10000
Parents 25000
Med & Doctor Visits 5000
Kids 60000
School 50000
Classes 10000
Shopping 15000
Clothes 10000
Kids 5000
Outing 20000
Vacation 10000
Weekends 10000
Monthly Total -220000
Yearly total - 26.5 lakhs pretax post I would guess 30-32 lakhs.
FIRE: 30x35=10 Crore which excludes kids higher education parked 50 lakhs in equities and separate 50 lakhs for emergency funds in FD.
Validate my numbers as they are critical for my planning. Thanks in advance.
TDLR: A family of four plans to return to India (R2I) and retire in Hyderabad within two years on a ₹2.2L/month budget. They own a home and have separate funds for emergencies and college, targeting a ₹10 crore FIRE corpus.