@womble7 Ok my bad. If you are planning to buy a house at 45, then will you be renting from 27 to 45 ? If yes, then save your rent and buy it now. If house location and rent locations are different, I’d still prefer buying now to save those extra costs later but tbh it may need more calculations on loan interest, savings growth rate, labor costs & other factors.
FIRE plan backFIRED!!
- Thread starter womble7
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philipluthfi
New member
@womble7 The trivial mistake is your GP Sum. You assume expenses to grow by 8%, but do not account for the fact that savings will also grow by atleast the inflation rate (unless you plan to keep everything under a mattress).
So, you need, in the worst case, 15 cr (fixed) + 16.2 cr (36lpa x 45) = 31.2 cr for the retirement corpus.
So, you need, in the worst case, 15 cr (fixed) + 16.2 cr (36lpa x 45) = 31.2 cr for the retirement corpus.
sheenwatson
New member
@womble7 The problem with your calculation is you aspire for an upper middle class post retired lifestyle, and want to build a corpus before age 45.
Why 45? that is too young to retire. You would be in the prime of your experience, maturity and would be still relatively healthy. You should be focusing on increasing your income at that age. Retirement is okay after 55 or so. You will get fully bored once retired.
The only happily retired and not bored people I have seen are 70 plus. Happy to wake up, chill the whole day, and sleep at night. All retirees younger than that seem bored and frustrated and turn into typical judgemental whatsapp uncles/ society president/ shaadiwala fupaa ji types. Don't do that.
Dude, 27 is too young to focus on 60 years into the future. Live the best life you can without spending or splurging too much, and invest the surplus wisely. The point of FIRE is to live well, not live miserably.
Why 45? that is too young to retire. You would be in the prime of your experience, maturity and would be still relatively healthy. You should be focusing on increasing your income at that age. Retirement is okay after 55 or so. You will get fully bored once retired.
The only happily retired and not bored people I have seen are 70 plus. Happy to wake up, chill the whole day, and sleep at night. All retirees younger than that seem bored and frustrated and turn into typical judgemental whatsapp uncles/ society president/ shaadiwala fupaa ji types. Don't do that.
Dude, 27 is too young to focus on 60 years into the future. Live the best life you can without spending or splurging too much, and invest the surplus wisely. The point of FIRE is to live well, not live miserably.
lukmanwijandana
New member
@sheenwatson Can only give you one upvote 