Can you guys tell me at what age you started working full time, and how many years it took you to reach this milestone?
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F I R E - Financial Independence, Retire Early.
- Thread starter hender
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sunit123
TF Legend
Started working at 24 and took around 21 years to reach the milestone. Entire amount is earned by me...No gift/inheritance/silver spoon/family silver etc
That is great brother, you inspired me.
Thanks.
Started working at 22. Took 16 years.
Started at negative 25 lakhs. Paid off family debt as well.
No onsite. Haven't gone outside India for work. No lavish lifestyle. Very normal expenses.
Little bit of contribution from parents income - say around 5LPA.
That is very great and what industry are you in if you don't mind? And your education?
And sunit bhai what about you? What industry and education?
fradela
TF Ace
When it comes to being rich, poor, or achieving FIRE , it's all subjective. No one can define someone else's financial status.
No need any society approval for your financial status.
One of my colleagues, who has two kids and is taking care of his parents, says he would need ₹1 crore to achieve FIRE comfortably.
Another colleague, who has only one child and whose parents receive a pension, says he would need ₹5 crore.
For one person, ₹1 crore may feel like being poor, while for another, it may feel like being super rich.
No need any society approval for your financial status.
One of my colleagues, who has two kids and is taking care of his parents, says he would need ₹1 crore to achieve FIRE comfortably.
Another colleague, who has only one child and whose parents receive a pension, says he would need ₹5 crore.
For one person, ₹1 crore may feel like being poor, while for another, it may feel like being super rich.
fradela
TF Ace
@cardio_guy is IT professional. Clearly reveal his comment.
fradela
TF Ace
Even I too started with negative balance.
I took many years to reach 0 balance..
I was cloud nine when I had no loans and balance was 0.
I'm achieved FIRE too.
Minimalistic lifestyle.
Could be consultant too.
real_name_hidden
TF Premier
You guys are pioneer of fire for this community.
Can you shed some light on what prompted you towards achieving fire.
What resources were available to you at that Time as in today you can find lots of content on social media about financial planning.
Can you shed some light on what prompted you towards achieving fire.
What resources were available to you at that Time as in today you can find lots of content on social media about financial planning.
I think FIRE is a overrated concept mostly not applicable for a person with family/kids in indian context.
Don't get me wrong FI is an excellent goal to achieve but the RE part I am not a fan of. If you are not passionate about something else like a hobey or CSR activities you will get bored if you retire before 40. Plus once your family/ extended family knows you have lots of spare time, they will always ask you to help them on something or the other. Your importance in the family will decrease. Got these feedback from a close friend who has already done with FIRE and retired.
I have already achieved my FI number 2 years back when I was 33 years old but I continue to work ( I love my work and I am very good at it). It gives me some kind of fulfillment and keeps me busy. As I have already achieved FI i don't work extra hard, work outside working hours or ask for promotion/hike.
Don't get me wrong FI is an excellent goal to achieve but the RE part I am not a fan of. If you are not passionate about something else like a hobey or CSR activities you will get bored if you retire before 40. Plus once your family/ extended family knows you have lots of spare time, they will always ask you to help them on something or the other. Your importance in the family will decrease. Got these feedback from a close friend who has already done with FIRE and retired.
I have already achieved my FI number 2 years back when I was 33 years old but I continue to work ( I love my work and I am very good at it). It gives me some kind of fulfillment and keeps me busy. As I have already achieved FI i don't work extra hard, work outside working hours or ask for promotion/hike.
I retired early and haven’t worked for 10 years now. Not bored in the slightest. No one from my family asks for help as they are WAY richer than me. I never wanted to work.
I agree on this too.
Although I am still student, but I thought that retirement can be boring and you'll disturb your family nothing more.
Once you're financially independent there's always option to keep doing what you've been doing if you like it, or start some kind of passion project or business to keep you busy.
Good to see you are not bored in your retirement.
If you don't mind can you let me know what you generally do to utilise your working hours. Aslo what age did you retired ?
I don’t do anything specific. Just do the kind of things people do on weekends but do it all week. So it includes traveling, reading, going for a walk, cooking, cleaning, looking into finances, researching etc. I travel quite a bit as well. Around 4 long trips in India and 10 or more short trips. Long can be 20 to 45 days while short are 3 to 5 days. In addition, at least 2 to 3 international trips per year which can last 1 to 2 months. Last year I spent 6 months abroad in total and visited multiple countries.
ok ok, doesn't seem boring, I will retire 😛
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