F I R E - Financial Independence, Retire Early.

[Exewhyzee]

Burnout ho jayega FIRE ke chonchle mein.

 

[aayusharyan]

Burnout ho jayega FIRE ke chonchle mein.

I like to believe total mehnat sabko same karni hai. Personally i can work extra early years because i have time and energy, after a few years, i want relaxed life.

 

[cardio_guycardio_guy is verified member.]

That 3 slider thing is what I remember
Time
Money
Energy

One will not have all 3 of this at the same time.
Early career time and energy will be there but not enough money.

Peak of career money and energy is there but no time to spend for ourselves
60+ time and money is there but physically unfit.

Fire is striking a balance of all 3. It can be done in many ways. Either earn huge before 40 and do what you like before you become too old.
Or take small breaks in between working and enjoy life.
Or be content with what we have and just move on.

 

[mayankcse10]

In India, the concept of Retirement is where one imagines people saying at home, not doing anything, not travelling, etc. Not being disrespectful, but take our parents' generation for example... Right now, majority are with us at home. This is a very sharp contrast to how it is in west where retired people are chilling, travelling, pursuing hobbies, etc.

Batao, the contrast in experience. I am assuming this is true for metro cities and the like. In my hometown, it feels like people have never heard of the word 'retirement'. You'll hardly find people just chilling at home. My 75+ uncle still puts in a full shift daily with my cousin brothers at the shop.

 

[sunit123]

Batao, the contrast in experience. I am assuming this is true for metro cities and the like. In my hometown, it feels like people have never heard of the word 'retirement'. You'll hardly find people just chilling at home. My 75+ uncle still puts in a full shift daily with my cousin brothers at the shop.

There are 3 categories
1. No option in life but to work (Not earned enough to retire)
2. Working as a hobby (earned enough and now working as time pass i.e. to kill time)
3. Enjoying life (earned enough, not working now and hobby is full time job)

Sadly 95% people fall in category 1 in India..They work till they die because no other option..My grand father worked till he die at the age of 78
4% in category 2
and rest 1 % in category 3

I will prefer to stay in category 2 till 50 and after 50, i will happily shift to category 3

 

[ccdc]

SUPER FAT as far as FIRE is concerned....but still i want more...😛....to build generational wealth after all i'm less than 40...what will i do by hanging up my boots...

 

[hender]

retirement means that I don't want to wake up thinking I need to work and provide for my family. That's it, I want to wake up and chose whatever I want to do without the need to worry about financial consequences of that.

That's the meaning of early F I R E.☝️, not 60 or 70+ retired.

How do you see the people's mind set, lifestyle outside(India), when they attain FIRE in 30-40 !!

As India is evolving, so are the options to calibrate the lifestyle and earning...

India is now in a very dynamic stage...
You will see more drastic changes in next 10-20 years...

Still working for few months and enjoying life many months is far away for most...(both in terms of mental, social and financial block)....

 

[Lobogris]

This is one thing I have observed travelling across countries. In India, the concept of Retirement is where one imagines people saying at home, not doing anything, not travelling, etc. Not being disrespectful, but take our parents' generation for example... Right now, majority are with us at home. This is a very sharp contrast to how it is in west where retired people are chilling, travelling, pursuing hobbies, etc.

For example, when I go for golf lessons, a lot of people I see are retired people, even when I went to Ski, last year, I was shocked myself to see 60+ aged people doing skiing and snowboard (which is a very muscle intensive thing).

So, that changed my perspective towards the meaning of Retirement. Personally, to me, retirement means that I don't want to wake up thinking I need to work and provide for my family. That's it, I want to wake up and chose whatever I want to do without the need to worry about financial consequences of that.

Yeah. India has a lot of discrimination based on age as well, in addition to region, caste etc. The young people seem to live in a fantasy world where they imagine anyone 45 or 50 onwards to be too old to do anything. I met a lady recently at a mall. She was only 50 years old and stated that after 50, people in India were expected to give up material things and focus on the spiritual. Similarly, I read a comment on Redditt yesterday where someone was surprised that a 65 years old person would be on Redditt!!! This mentality where the parents devote all their lives and resources to their children and then become babysitters for the grand children is super prevalent and is the root of the problem. In reality, a person can be super active till 65 to 75 depending upon their health and reasonably active till around 80 to 85 as well if they remain healthy. At 65, I would have hesitation in buying the latest tech, the latest car, traveling the world, doing things, dating (if single) and so on.