Tired of corporate BS, looking to lead a peaceful carefree life in cities like Hyderabad, Pune, highest NW we can target by 40: $4M Current status: 35, networth: $1.5M, 2 kids Blind etiquette: Household TC: $800K
Retire in freaking India, anybody in this world would make it with $1m. You ask blinders they think $1 billion is required. Please. With 5M you can retire in Paris. U ridicolous
Feel you bro 😂
If you have a house already, then 1M enough for you spouse and a kid.
2 kids
Maybe 1.5? This is going by US results that it takes close to 400k per kid, with 100k thrown in for good measure.
You need to understand that cost of living in Indian tier-1 cities has caught with European tier-1 cities. Over the next 30 years, they will catch up with American tier-1 cities. That's globalization. Plan according to that.
Don’t have much clue about Indian cities but one thing which never ceases to amaze me is the bubble most Blinders live in. Those voting for $5M+ have just lost at life and reality TBH.
Its their lifestyle decision making them to vote that high
Honestly you can retire now. But think carefully about FIRE. Retire only when there is a strong pull to do something (hobby, business venture, caring for parents, etc). Most people who retire based on their net worth soon realize they never cultivated a purpose in life besides 9-5 grind and then are lost souls
I think somewhere between 2-3M is what'd be enough for life in India at 40. Anything more than 3M is just for too much of lavishness which I don't know what's the need for. I don't want to keep up with joneses. Just want to lead a happy, peaceful life :)
Your biggest expense might be educating your kids in the US after coming to India. If yes take an extra margin of $500-600k. Otherwise 1.5ish should be good enough for tier 2 cities. However you should still be wise in investing your money well and possibly get some source of income that can bring in 50k INR per month. You won't necessarily have to have a full time job to bring in that kind of money and that should be good enough for sustenance while keeping your savings untouched. Also it might be harder for kids to come back once they are 10ish which I am assuming will happen when you're 40.
There's a HUGE risk thinking you can FIRE in India for less than in the US. You are assuming that the current poverty in India will persist for your whole retirement. If you FIRE at 40 and live to 95 you're talking about 55 years of history during which you expect the status quo? 55 years ago China was having the Cultural Revolution and the average person lived on a few dollars a year. Now the cost of living in China is comparable to the cost of living in the USA. In 55 years India may have developed a lot and the cost of living may be a lot closer to what it is in the USA. Then what will you do? Dine on dog food and live in a cardboard box? Better you save up enough to FIRE in the US, and if you choose to retire in India instead enjoy the extra money you can spend today knowing that if in future India gets expensive you will still be able to live decently.
It might get too late. As our age goes up, kids grow. 40 is that sweet spot where kids are not too old and you still have enough time to grow your net worth to whatever one can. So I'd say if you ever plan to move back its by 40.
Lol col in China comparable to USA? That's some next level exaggeration.
With $1.5M you can even retire now in India and have peaceful life lol. But having kids you might regret in future for settling in India considering the quality of life and opportunities your kids have in US.
What if one wants to send their kids to acting fields ?
Hyderabad and Pune aren’t tier 2 cities.
1 or 3?