FIRE plan backFIRED!!

[beyou]

@limit When did I say that parents shouldn't look after the well being of their child ? I am not talking about starving your child or not sending them to school or activities. I will tend to their needs but I am definitely not gonna pay their entire college fee or buy them a house. Again, let's just differ in our parenting choices and be peaceful

 

[adit]

@noah_w It isn't high if you plan for outside India. US se BE will cost in this ballpark.

 

[susejlx]

@gypsysoule First top 1-2% guy who is speaking the truth and knows how everyone else way below his salary lives.

 

[gypsysoule]

@susejlx What is this top 1-2% guy boss?

Tier one city . Child schooling is such a vampire on financial planning . See my other post where I want to quit my line of work entirely . You will understand what I'm trying to balance simply because of inflation .

I'm not complaining . But it's not easy the way things are going if I WANT my child to be in a school that trains her to her max potential .

 

[susejlx]

@gypsysoule Jesus. Earning 2.2l and thinking they are not at the top. Most would kill for that.

Also, schooling is a scam. Any regular school would do fine.

 

[charlie319]

@gypsysoule You sir are a legend. Most people here going broke trying to look rich. Making money on the long run is easy but keeping it is the hard part.

 

[gypsysoule]

@charlie319 ELI5 : If you already have the money , doesn't it mean you know how to keep it as well?

It not like everyone is winning billions worth lotteries which the rest of us don't know .

Is it like they say in the airline industry : " the best way to become a millionaire is to be a billionaire and start an airline " ?? !!!!

 

[svjoyner]

@gypsysoule Yeah, what the heck is 36 lakhs a year? Since when did kids become this entitled?

 

[gypsysoule]

@svjoyner I think OP

A) is planning for an Uber comfortable lifestyle. ( very good , he's started early)
B) is actually a multi billionaire trying to minimise lifestyle expenses ( so that he has more money to play around with )

 

[womble7]

@gypsysoule A sir of course A.
And uner comfortable lifestyle is a matter of perspective but i do get ur point, i have to redefine my dreams more frugally.

 

[gypsysoule]

@womble7 Also me n wife went on a Scotland only trip planned by ourselves 3 weeks total budget did not exceed 4 lakhs all costs included . This was in 2018 .

We haven't been overseas since but trip monthly or bi monthly once by road usually with hired driver or hired car. Never exceeds 30k all expenses. Considering that.. you could go every month with a 3 lakh budget.

 

[womble7]

@gypsysoule My basis of the figure of 3l was 1 foreign trip yearly

 

[gypsysoule]

@womble7 If you want to splurge 3 lakhs every year then I feel it's difficult to justify.

It takes at least 1 years to plan a good overseas trip . So alternate years may be more feasible. Moreover length and breadth of India there's so much to see and experience.

I have visited 4 countries. All more than 2 weeks and all self funded. But the frequency is much less.

Also , you can combine business with pleasure . If u have meeting from company side, spouse and children you can sponsor. At least save on your own to and from flight and visa expenses .

 

[seeker611]

@womble7 Since you're planning for the long term, get a good travel credit card. If you can build one up for you and your spouse, in a few years you credit cards will pay for a very large part of your travel and accommodation expenses.

 

[jesusdaughter155]

@gypsysoule

Today I bought a weeks worth of vegetables for 520 rupees , fruits much less weight costed 1030.

This looks costly sir. Tier 1 city ?

 

[gypsysoule]

@jesusdaughter155 Yes tier 1 city .

Yes but nothing compared to a dinner outing for 5 .
I'm talking veg that too.

Veggies I can choose to buy cheap ones but fruits in summer I have very less choice if I look at costs.

It's still within budget . We have started drying small tomatoes and making tomato onion puree and storing as frozen cubes .

You never know when the rates will shoot up or the truck strike will strike again .

 

[womble7]

@gypsysoule Thank u for ur response sir.
This is my dream ofcourse after realistic assumptions i am gonna decrease my wants proportionally!

 

[gypsysoule]

@womble7 We all have dreams and then reality .

Dream is to buy a Aston Martin one 77. Even if we get one, the real challenge begins after . Best policy is if u have budget for Innova buy a loaded Creta and with saved money drive around .

Similarly everything else.

We are all sailing the same sea boss.. all our boats have the holes of inflation, reality ( and in some cased social pressure) . We have to sail these seas no matter you use excel or a wealth manager .

 

[marsbars]

@womble7 Thoda late retire hojana, ya fir lifestyle thda below avg krlena, or koi solution nhi pata mujhe.

Also thankyou you now I've realised INR me kma k to mere bhi sapne pure nhi honge, I'm going out.

 

[huntemp28]

@marsbars Mera friend ye soch kr bahar gya.
First day jhaadu pocha kiya poore store me.
Next day dusra store join kiya udhar bartan karne pade.

To Bhai loan le kar bahar jaoge tb bi side job krni padegi.