I have a house and looking to retire with 7 cr invested in mutual funds that grows well above inflation and generate passive income. I want to retire not to sit at home but to be able to do anything else like experiments and startups. Or work on easy going jobs and have a chill life. I read about posts that say you need USD 5 million to retire well. Not sure why that is the case of my goal is to passively generate INR 300,000 every month. 300k Sde
Greed and fantasies have no end and given a choice folks on Blind will recommend you to have a NW similar to Elon to FIRE.
Since you already own a house this is doable and pretty comfortable as well, Just don't let the lifestyle creep up and try to keep around your 3 lakh mark, also have you accounted for big ticket items like kids college/school donation, Vehicle purchase etc.?
Good point. I don't think I will retire fully. I will end up doing some experiments and hopefully make another few crores for kids education, marriage, vehicle. The point of FIRE in my mind is to be able to take risks in life without putting family in pressure.
Is house paid off ? How much did you buy house for ?
Ben stokes log 1000rs mahina pe bhi retire ho jaate hain. Mathura vrindavan mein It's based on you
15% average growth, what's the point of likes of Citadel
15% per annum is too high you mean? Because if I pick any mutual fund annual performance in India, it's giving a rate way above 15%.
Yeah there is a reason why it's so high, lol, it has a higher risk inherent to it