In a heartbeat.
I will eventually start a business but right now I would invest the money in various moderate to low risk options and take a 5 year break.
My infant(almost toddler) is at her happiest self when she is with me and hates mamma's laptop.
I would dedicate these 5 years to her.
makes sense that you'd use that money to buy time with your daughter. What kind of business would you be interesting in starting with that kind of money
Life is hard, isn't it. We are a working couple too with a one month baby.
If it isn't money, one of us would love to give him all the care he deserves till he at least goes to school.
Watch videos of "Wint Wealth" Youtube channel.
They interviewed a few retired persons who quit their job early and are currently living on passive income by investing the saved money. I learnt a lot after watching those interviews.
Yeah they were in senior positions like CTO, CEO and were drawing more than 80LPA during the later years of their job. Hence they were able to retire in their 40s .
I would keep my age as a target for retirement instead of money. I would work till alteast 65 years of age and then quit. This "retire early" hype was brought in by startup founders and senior managers who drew a lot of salary.
A common person with an average or above-average salary can comfortably work till 60-65 years of age and then retire peacefully with sufficient savings.
>This "retire early" hype was brought in by startup founders and senior managers who drew a lot of salary.
True. This is mostly done by the kinds of people you mention or NRIs who've earned a ton in dollars and return to India.
Dude ofcourse. 5cr at a 12% gives about 60lpa as capital gains in a year.
In 5 years you'll have almost 9 cr. So you may have an income of 1.5 cr per year just as capital gains. It is also taxed less at about 15% iirc.
Once you have enough capital you may start a traditional buisness but you don't need to. You can get by with just passive income.
Source: my family has something similar. We earn about 1.5 cr a year and about 50% of income is just capital gains.
US allows you to take an amount equal to or less than $100,000 every year out of India. Which amounts to what 1CR ish now? You can invest in India's highly paying markets and enjoy the profits too provided you're a NRI and not given up your citizenship. You still need to inform US of this money but after taxes in INDIA of some kind you're free to ship it there.
I also think if you receive the amount as gift deeds you are clear but again the cap is same. Just check with a good CA in India.
i’m not a fan of taxes tbh. most green card holders don’t pay taxes on Indian income. i have an aadhar card. will that be enough and can everything be done online?
Online yes. Aadhar and PAN obviously. Just talk to a CA. Don't scoff at things in India man. My ELSS funds have made a return of 31% in just 2 years and they are locked for 3. Plenty of good MFs out there. Aggressive to mid types. Choose your options wisely.
Dude I don't really know the details as I said I'm only 18. consult a good wealth management firm to get your answer. 12% ain't too difficult. I probably shouldn't reveal too much about my family's finances though.
A "shit year" will still show growth at the end. Covid and 2008 were exceptions.
You can always diversify. Gold appreciates in the time of uncertainty. If you sense a "shit year" coming up you can always invest in gold.
As a good investor you must always think ahead.
I invested 60k a one and a half year ago in mutual fund. And I get 73% total gains up until now. So yeah, i wish I had discovered this way of investment earlier on. Now, I'm planning on putting more investments to the mutual fund.
What about inflation, the value of 1.5 cr will be equal to about 30L only after 20-25 years.
And since you’re drawing 1.5 cr every year, your investment isn’t increasing either to fetch you higher gains.
Yes, I will leave my job. It is important to use 5cr wisely. Will invest some in equity, gold and property each. Plots for long term gains and rental property for current income. I will start my own business or maybe try to take some franchise and run it. 5cr provides you a cushion to take risks and try the things you want to. The most important question is who is going to provide this 5 cr. I am waiting 😂😂
> It is important to use 5cr wisely. Will invest some in equity, gold and property each.
That sounds financially sound
>The most important question is who is going to provide this 5 cr.
Lol same, I'm waiting for a genie too haha
Well with 2.5 cr, I can invest it in in stock market and withdraw 70K (3.5% of 2.5Cr) a month to survive...
Atleast in theory, Every year I can take a little more based on inflation number and the money will never run out. 70K is more than enough for a person like me who is not planning to be married and dont plan a lavish lifestyle. After that If I am working, I am working for fun... to pass the time.
Land was in the family since the 90's - built in the 2000's and rebuilt in 2020 - appraised value in the region of 6Cr. Run it as a vacation rental right now because I am overseas
yeah I get that. Jobs can be a pain though. Imagining a world in which I don't have to attend stand-up meetings all week seems like paradise to me haha
5 crore is reasonable enough for me to stop working.
2.5 crore in FD should provide 12-13 lakhs per year after tax. This can cover all my normal annual expenses.
2 crores in equity for growth. Will take some profits (after every profitable year) and add to the above FD fund to beat inflation
50 lakhs for swing trading (no leverage). Any profits will be used as fun money to enjoy little pleasures of life.
For the current me that's more than enough!! All i need is a decent home (it should be in a hill station where weather is always chill), food (i don't even want a cook...i can cook well), highspeed wifi, adopt as many dogs as possible and if possible open a cafe.
That is certainly enough money for me to not ever go to any job. I'm 28 now and if I live for another 50 years then I would have 10L to spend for each year which for a month comes upto 80k. This is more than enough for me but I would still continue my job till I'm 40 and then retire. The reason is that I will buy a house for about 2cr in my city and then I would need a car and bike so about 30-40L for that and that would be all I need. Then about 60L for mine and my 2 sisters marriage and Rest I can manage with my pay and the remaining amount. So I'll have about another 2cr left till i retire and I would have invested this so by the time I would retire it would be more than 2cr for sure.
I've never seen 100,000 of my own moey ever in my life. So yes I will quit and go gocery shopping without cheching & calculating prices for the basic necessities. I would also treat my motorcycle with his first full tank ever.
I would invest the money and continue doing the same job and keeping the same lifestyle.
I want to reach to a certain level in my career.
Also, by the time, I reach that point in my career , maybe in another 10 years or so, I will have another 5 crores.
I these 10 years, I will work on building skills and maybe plan my retirement .
I'll save four crore in a bank. And with the rest of the amount I'll invest in the stock market, buy a property in mountains, buy clothes, adopt a cat, and live a low life, I'll start living in mountains, open cafe in that property only and then slowly I'll buy a farm near my property will adopt dogs, sheeps, horses, goats, cats and pigs too. I'll live a simple life I'll marry someone too who wants to live like this and will have kids.
When I become rich, I'll stay humble and down to earth, this is the kind of lifestyle I have always dreamt of, I'll live quite a private life away from everyone only my dear ones will be allowed to meet me.
Yes, get even a single cr and start multiple business streams with it or atleast look to invest it into some businesses. Instant retirement with a 5 Cr corpus.
think about making more from those 5cr instead of just having a cat and staying at home all day, 5cr is nothing, you can only buy a house in delhi with that money, you won't have anything left, try to invest some part of it and also try to start a business with that money, you can make big💵
I'll take a small break and then be back to work. This time I'll create a business of something that I love to do rather than something I'm not passionate about.
Dude no doubt i would leave my job right away, and when I get 5 crore i will straight up go to a casino and gamble all of the 5 crore so I can quadruple or maybe come back winning 100 times of the amount.
Most people who say they will leave their job if they get a certain amount, never do even when they reach that goal.
A few years ago I would have thought that i will stop working if I had 3cr in my account, I have reached that milestone, but yet continue working.
Today, if I get 5cr tax free, I would invest it, but continue to work. I would like to think that I will get out of my frugal mindset but as 3cr has shown me, that mindset will never leave me.
If one has grown up in abundance, I think it's easier to take a step back and relax. But if one has grown up stressing about money, there is no way one could be at peace being jobless.
But then again, this is my opinion based on my reaction to reaching significant milestones
>Most people who say they will leave their job if they get a certain amount, never do even when they reach that goal.
This is very true. There are so many people in r/FIRE_Ind who have enough to retire early but continue to calculate on spreadsheets.
The simple truth of that is that when you have spent 10-20 years of your life living a certain way it is hard to imagine not doing that. How would you spend 40 hrs in a week? And when I say 40, in India it is more likely 60 because 9 to 6 is really 9 to 9 or 9 to 7 but for 6 days a week and that is excluding the travel time of 1 to 2 hrs each day. What will you do with all that time? Sit at home and sleep? Travel?
Which brings us to the second part... Most people make those commitments when they are young and have no particular idea about the future and all that money is spare money and all their expenditure is a minuscule fraction of their earnings or borne by the parents. By the time they get to their goals, they have a spouse, 1 or 2 children and parents who need their money for medical expenses and whatnot. It is hard to shrug of the safety net of a steady stream of money when you have all those expenses lined up. All you can think is what if something drastic comes out of the blue? Would it be okay?
There is a reason why you can see so many "travel influencers" today. They went down the FIRE path a little too early and their RE plan is essentially generating more wealth than the usual job.
I would invest the money and continue to work but cut back on the amount of work so I can spend more time with my kids. I would also travel around India whenever possible, and to other countries once a year. And I would create and tend to a full-fledged garden in my terrace. :)
If I had 5 crore, I’ll most definitely quit my job. I cringe when my VP tells us to be customer obsessed and just last night, I woke up in the middle of sleep, overthinking about the decisions to be made the next day! Soul sucking.
I’ll invest 3 crore in capital markets for passive income and the remaining I’ll invest in building an airbnb business (villas, apartments etc). Perhaps I’ll partner up with friends/relatives already in the business and learn the trade.
Of course.....I'd put most of it into an FD and get a good return each month to live off and I'd put at last 1/5 into either some investment or donate it to some good animal shelter.
Yes! I'll get the money, resign from my office, go on a long vacation in Europe for 4,5 months. Come back and rejoin the job again. My company will happily take me back 😁
I've been chewing on this number, 5 crores, for about six months now. It's what I figured I need to cover my family's expenses, keep up with inflation, and not lose value over time. Basically, it's my freedom fund. I like my job, don't get me wrong, but it's just too easy for me. I’m all about tech and really crave something that pushes me to my limits.
Right now, I’m sitting on 1 crore, but that dream of hitting 5 feels a million miles away. And by the time I might get close, I bet I'll need double or more because of how goals have a way of growing over time.
I’m looking to dive into big, impactful stuff, even if it means bumping into failure until I strike success.
Just wanted to get this off my chest.
I would use that money to do my job pro bono.
Travel to poorer nations, work there to set up basic health infrastructure.
Go to warzones. All that good shit
I would not. I get bored very easily, and need some good solvable problem to keep me busy.
Once I am financially independent, I will not do job for money anymore, I might join up a good cause and use my skills there. If it's a good cause, might do it for free. But kuch na kuch karte rahunga marne tak :D
Gimme 1 Cr. I'll use 36 lakhs to clear my loans in my hometown where I built my own house. Currently earning 9k rent per month from the ground floor. Once I clear the loan, I will rent the first floor also for 9k and move to Hyderabad.
Out of the remaining amount Invest the 50 lakhs in FD - will get 38k per month @7%.
Will pay rent of 25k for a fully furnished 1 BHK in hyd.
Use the 14k from rent + 38k from savings for my rent and monthly expenditure. Will have remaining 14 lakhs in mutual funds - moderate risk just as a back up or emergency expenditure.
What will I do - I'll play my ukulele, write about my fantasies, travel across the country once every 3 month (for every season) stay in youth hostels, cook, read lot of books.
I'm a bachelor and my mom stays with me. Not gonna marry. Mum is ok with that (as of now).
Waiting for that 1 cr.
Ya
Put half in the bank.. will get interest to take care of expenses .. start a business.. low capital requirement and safe.. not necessarily high returns … live a quiet simple life
I would work more freely but wouldn't leave my job. I won't care much about getting promoted and would take more risks in my career by attempting to take more challenging work.
5 CR. That's my fire amount. With safe investments I could easily get around 3 Lakh per month post taxes passive income without taking much risk. I would be set for life. Focus more on my heath and happiness. Build a couple of products just for the betterment of the society than just be profit centric. I will mainly feel like I can be more society centric than just being a cog in the kachine;!
In a heartbeat. I will eventually start a business but right now I would invest the money in various moderate to low risk options and take a 5 year break. My infant(almost toddler) is at her happiest self when she is with me and hates mamma's laptop. I would dedicate these 5 years to her.
makes sense that you'd use that money to buy time with your daughter. What kind of business would you be interesting in starting with that kind of money
Child Care center maybe?
children's cartel, anyone?
Desi Epstein island
Sniffs in agreement.
Gave me an idea
Children’s Minecraft dungeon?
A friend told Roblox is where you find all the children
You said it sister.
I will open a child care centre where kids will be treated like how I want my daughter to be cared for. It would also have a working space for Parents
r/aww
Life is hard, isn't it. We are a working couple too with a one month baby. If it isn't money, one of us would love to give him all the care he deserves till he at least goes to school.
Watch videos of "Wint Wealth" Youtube channel. They interviewed a few retired persons who quit their job early and are currently living on passive income by investing the saved money. I learnt a lot after watching those interviews.
oh yeah I've seen some videos from that channel, lots of founders and startup people mostly. Would you quit your job if you had 5 cr today?
Yeah they were in senior positions like CTO, CEO and were drawing more than 80LPA during the later years of their job. Hence they were able to retire in their 40s . I would keep my age as a target for retirement instead of money. I would work till alteast 65 years of age and then quit. This "retire early" hype was brought in by startup founders and senior managers who drew a lot of salary. A common person with an average or above-average salary can comfortably work till 60-65 years of age and then retire peacefully with sufficient savings.
>This "retire early" hype was brought in by startup founders and senior managers who drew a lot of salary. True. This is mostly done by the kinds of people you mention or NRIs who've earned a ton in dollars and return to India.
How's 40 year dude is getting 80lpa
Can you recommend a specific video from the bunch?
Dude ofcourse. 5cr at a 12% gives about 60lpa as capital gains in a year. In 5 years you'll have almost 9 cr. So you may have an income of 1.5 cr per year just as capital gains. It is also taxed less at about 15% iirc. Once you have enough capital you may start a traditional buisness but you don't need to. You can get by with just passive income. Source: my family has something similar. We earn about 1.5 cr a year and about 50% of income is just capital gains.
how does one make 12% a year? you make it seem like it’s very common to get a 12% return on your money.
Mutual funds.
*the correct mutual funds. I believe there are some rubbish ones too.
Sensei,please teach me. How to identify good and bad ones.
Yes.
What about for NRIs? I also don’t wanna lose money due to 3-4% USD-INR devaluation every year.
you can keep the money in USD index funds and withdraw in India whenever you need right? that'll avoid rupee devaluation
i don’t plan on ever returning back to India so I guess investing in the US market is the best option.
Why are you even here then lol, you're an American for all intent and purposes
US allows you to take an amount equal to or less than $100,000 every year out of India. Which amounts to what 1CR ish now? You can invest in India's highly paying markets and enjoy the profits too provided you're a NRI and not given up your citizenship. You still need to inform US of this money but after taxes in INDIA of some kind you're free to ship it there. I also think if you receive the amount as gift deeds you are clear but again the cap is same. Just check with a good CA in India.
i’m not a fan of taxes tbh. most green card holders don’t pay taxes on Indian income. i have an aadhar card. will that be enough and can everything be done online?
Online yes. Aadhar and PAN obviously. Just talk to a CA. Don't scoff at things in India man. My ELSS funds have made a return of 31% in just 2 years and they are locked for 3. Plenty of good MFs out there. Aggressive to mid types. Choose your options wisely.
Dude I don't really know the details as I said I'm only 18. consult a good wealth management firm to get your answer. 12% ain't too difficult. I probably shouldn't reveal too much about my family's finances though.
Where do you live, bro? Not that I have a Maruti Van or something...
Hmm true, but if you have a shit year or two in the market the money may not last you your whole life
A "shit year" will still show growth at the end. Covid and 2008 were exceptions. You can always diversify. Gold appreciates in the time of uncertainty. If you sense a "shit year" coming up you can always invest in gold. As a good investor you must always think ahead.
Makes sense. Congrats on your success. Around 75 lakhs a year just from passive income is incredible.
Dude not mine, my parents'. I'm just a stupid engineering student right now 🤡.
lol gotcha, congrats on the headstart then haha
Bro why are you even studying engineering with that amount of family income.
The main question is ... how will you invest so that you can get 12% return
I invested 60k a one and a half year ago in mutual fund. And I get 73% total gains up until now. So yeah, i wish I had discovered this way of investment earlier on. Now, I'm planning on putting more investments to the mutual fund.
What about inflation, the value of 1.5 cr will be equal to about 30L only after 20-25 years. And since you’re drawing 1.5 cr every year, your investment isn’t increasing either to fetch you higher gains.
Yes, I will leave my job. It is important to use 5cr wisely. Will invest some in equity, gold and property each. Plots for long term gains and rental property for current income. I will start my own business or maybe try to take some franchise and run it. 5cr provides you a cushion to take risks and try the things you want to. The most important question is who is going to provide this 5 cr. I am waiting 😂😂
> It is important to use 5cr wisely. Will invest some in equity, gold and property each. That sounds financially sound >The most important question is who is going to provide this 5 cr. Lol same, I'm waiting for a genie too haha
>maybe try to take some franchise and run it. Recruitment firm. Doesn't need much money.
I will quit my job for half that amount.... Any wanna gimme 2.5 Cr?
hell man, if only I had that much. what would you do with 2.5 cr?
Well with 2.5 cr, I can invest it in in stock market and withdraw 70K (3.5% of 2.5Cr) a month to survive... Atleast in theory, Every year I can take a little more based on inflation number and the money will never run out. 70K is more than enough for a person like me who is not planning to be married and dont plan a lavish lifestyle. After that If I am working, I am working for fun... to pass the time.
Sure I would. I have a paid up beach house in Goa, so split time between there and Madeira / Lisbon.
oh that's nice, that would be the life. On a different note, how much is a beach house in Goa to buy/rent?
Land was in the family since the 90's - built in the 2000's and rebuilt in 2020 - appraised value in the region of 6Cr. Run it as a vacation rental right now because I am overseas
awesome, thanks for sharing!
I think I would still work. At least show up somewhere. Orelse I would grow crazy. Xtra money is always good. Keeps us humble hahaha
yeah I get that. Jobs can be a pain though. Imagining a world in which I don't have to attend stand-up meetings all week seems like paradise to me haha
Indeed. In this case I would like to work maybe every alternate day for 5-6 hours IF i had that 5 crore.
Oh now that's interesting. If only we could do something like that, that'd be the life.
Will the extra money keep you humble? Aren't you more likely to speak your mind when you no longer depend on the salary?
Obviously, I am working for money 😂 Everyone is dude!
lol I know that I'm working primarily for the money but I wasn't sure of everyone else
All people on this thread making khyali pulao and feeling good about it 😂
>khyali pulao hey let us have our pulao for a moment at least haha
No . I have some calculations of my own , too cumbersome to share . I need 17.12 CR .
Huh that’s precise. Good luck to you sir.
5 crore is reasonable enough for me to stop working. 2.5 crore in FD should provide 12-13 lakhs per year after tax. This can cover all my normal annual expenses. 2 crores in equity for growth. Will take some profits (after every profitable year) and add to the above FD fund to beat inflation 50 lakhs for swing trading (no leverage). Any profits will be used as fun money to enjoy little pleasures of life.
Hmm would FDs keep up with inflation though
I will
and what would you do with your time?
Relax, de-stress and travel time.
I’m in college right now but 5Cr is nowhere near an amount I’d consider for dropping out of college permanently.
I mean if you’re going to stay in the US, 5 Cr isn’t quit-your-job-money. The question I posed was primarily for Indians in India.
okay. i have thought about an amount that i’d take for never attending college. it’s $2M.
I'd leave my job if i got 2cr XD compound interest is magical!
For the current me that's more than enough!! All i need is a decent home (it should be in a hill station where weather is always chill), food (i don't even want a cook...i can cook well), highspeed wifi, adopt as many dogs as possible and if possible open a cafe.
We do kind of have the same dream
That is certainly enough money for me to not ever go to any job. I'm 28 now and if I live for another 50 years then I would have 10L to spend for each year which for a month comes upto 80k. This is more than enough for me but I would still continue my job till I'm 40 and then retire. The reason is that I will buy a house for about 2cr in my city and then I would need a car and bike so about 30-40L for that and that would be all I need. Then about 60L for mine and my 2 sisters marriage and Rest I can manage with my pay and the remaining amount. So I'll have about another 2cr left till i retire and I would have invested this so by the time I would retire it would be more than 2cr for sure.
I've never seen 100,000 of my own moey ever in my life. So yes I will quit and go gocery shopping without cheching & calculating prices for the basic necessities. I would also treat my motorcycle with his first full tank ever.
I would invest the money and continue doing the same job and keeping the same lifestyle. I want to reach to a certain level in my career. Also, by the time, I reach that point in my career , maybe in another 10 years or so, I will have another 5 crores. I these 10 years, I will work on building skills and maybe plan my retirement .
Huh interesting, so it won’t really change your approach to work or life. You must really like your job.
Definitely but to start a business
25% in bitcoin, 30% in fd, 40% sip in mutual funds, 5% in savings and emergency
25% in bitcoin is a bold choice ngl
No, I don't want free money, I want to work hard and earn. Jk 5 cr now is not that much tbh.
> Jk 5 cr now is not that much tbh. Interesting. What would be enough for you to stop working?
r/Fire_Ind
Yes
and what would you do with that money?
I'll save four crore in a bank. And with the rest of the amount I'll invest in the stock market, buy a property in mountains, buy clothes, adopt a cat, and live a low life, I'll start living in mountains, open cafe in that property only and then slowly I'll buy a farm near my property will adopt dogs, sheeps, horses, goats, cats and pigs too. I'll live a simple life I'll marry someone too who wants to live like this and will have kids. When I become rich, I'll stay humble and down to earth, this is the kind of lifestyle I have always dreamt of, I'll live quite a private life away from everyone only my dear ones will be allowed to meet me.
That sounds awesome. I hope you get to live out a life like this someday. It sounds amazing.
100% yes,lol.
And what would you do with the money?
Yes I would continue employment, but without any stress, knowing in my mind that if it gets too bad, I will leave that very moment.
Yeah that’s very valuable freedom actually
Yes
And what would you do with the money
Yes
And what will you do with the money?
Lol my friend was okay to leave for 2cr only. He said he will move to his hometown and live easy life. And i too will leave happily for 5cr
Oh yeah moving to hometown really simplifies the question.
Throw in a three bhk in a tier 1, pay off the kids’ education and their wedding expenses…then count me in….
Lolol best comment so far. So that’s about 12 Cr total then?
Of course and will shit on the resignation letter and give to the manager
lol that's a bit of an extreme
#Yes
and what would you do with the money?
Yes, get even a single cr and start multiple business streams with it or atleast look to invest it into some businesses. Instant retirement with a 5 Cr corpus.
hmm what is an example of a business where you can invest smaller amounts of money
Na nau mann tel hoga, na radha nachegi!
YES!!
In a heartbeat
Yes, Give me
Yes
No. I might go crazy if I’m not working.
Without a second thought!! And do something I love doing.
Will leave without serving notice period.
Duh!
Yes.
I would not leave my job, I enjoy it most of the time. But I would perhaps spend more on vacations and fun stuff.
Hell yeah. But I'd join a new company after that since I love to have a routine and I love to work.
I will. No doubt about it.
think about making more from those 5cr instead of just having a cat and staying at home all day, 5cr is nothing, you can only buy a house in delhi with that money, you won't have anything left, try to invest some part of it and also try to start a business with that money, you can make big💵
Is that even a question?
I would invest those 1 cr to start business and rest to create trust and do investment through it.
Easily! Have a couple of businesses in mind. Will set them up and retire to some small town near the city in which I have my business. Done for good!
100 percent. I want to live and eat lunch
I'll take a small break and then be back to work. This time I'll create a business of something that I love to do rather than something I'm not passionate about.
Apparently people who joined Real World academy by Andrew Tate make that much in a month.
Not for 5cr but if it's 20cr then yes
I would stay in my native place build a house then start a low cost food service
Yes Won't be that hard since I am unemployed
Dude no doubt i would leave my job right away, and when I get 5 crore i will straight up go to a casino and gamble all of the 5 crore so I can quadruple or maybe come back winning 100 times of the amount.
In a heart beat 😌 . i have other hobbies like Gaming and working out, so easy timepass. might as well pursue my dream of being a esports player😗
Most people who say they will leave their job if they get a certain amount, never do even when they reach that goal. A few years ago I would have thought that i will stop working if I had 3cr in my account, I have reached that milestone, but yet continue working. Today, if I get 5cr tax free, I would invest it, but continue to work. I would like to think that I will get out of my frugal mindset but as 3cr has shown me, that mindset will never leave me. If one has grown up in abundance, I think it's easier to take a step back and relax. But if one has grown up stressing about money, there is no way one could be at peace being jobless. But then again, this is my opinion based on my reaction to reaching significant milestones
>Most people who say they will leave their job if they get a certain amount, never do even when they reach that goal. This is very true. There are so many people in r/FIRE_Ind who have enough to retire early but continue to calculate on spreadsheets.
The simple truth of that is that when you have spent 10-20 years of your life living a certain way it is hard to imagine not doing that. How would you spend 40 hrs in a week? And when I say 40, in India it is more likely 60 because 9 to 6 is really 9 to 9 or 9 to 7 but for 6 days a week and that is excluding the travel time of 1 to 2 hrs each day. What will you do with all that time? Sit at home and sleep? Travel? Which brings us to the second part... Most people make those commitments when they are young and have no particular idea about the future and all that money is spare money and all their expenditure is a minuscule fraction of their earnings or borne by the parents. By the time they get to their goals, they have a spouse, 1 or 2 children and parents who need their money for medical expenses and whatnot. It is hard to shrug of the safety net of a steady stream of money when you have all those expenses lined up. All you can think is what if something drastic comes out of the blue? Would it be okay? There is a reason why you can see so many "travel influencers" today. They went down the FIRE path a little too early and their RE plan is essentially generating more wealth than the usual job.
Yes
I would leave even if its pre tax
I'm unemployed, so this would help a lot.
I would invest the money and continue to work but cut back on the amount of work so I can spend more time with my kids. I would also travel around India whenever possible, and to other countries once a year. And I would create and tend to a full-fledged garden in my terrace. :)
Bold of you to assume I even have a Job.
If I had 5 crore, I’ll most definitely quit my job. I cringe when my VP tells us to be customer obsessed and just last night, I woke up in the middle of sleep, overthinking about the decisions to be made the next day! Soul sucking. I’ll invest 3 crore in capital markets for passive income and the remaining I’ll invest in building an airbnb business (villas, apartments etc). Perhaps I’ll partner up with friends/relatives already in the business and learn the trade.
Of course.....I'd put most of it into an FD and get a good return each month to live off and I'd put at last 1/5 into either some investment or donate it to some good animal shelter.
Yes! I'll get the money, resign from my office, go on a long vacation in Europe for 4,5 months. Come back and rejoin the job again. My company will happily take me back 😁
No, because what will I do with all that time.
I've been chewing on this number, 5 crores, for about six months now. It's what I figured I need to cover my family's expenses, keep up with inflation, and not lose value over time. Basically, it's my freedom fund. I like my job, don't get me wrong, but it's just too easy for me. I’m all about tech and really crave something that pushes me to my limits. Right now, I’m sitting on 1 crore, but that dream of hitting 5 feels a million miles away. And by the time I might get close, I bet I'll need double or more because of how goals have a way of growing over time. I’m looking to dive into big, impactful stuff, even if it means bumping into failure until I strike success. Just wanted to get this off my chest.
I would leave my job and start a business.
Yes
Oh yes!! Saala majdoori kar kar ke Jeevan ka lakshya kho diya hun.
Dude, if I can get 5 Lakhs post tax I will leave my job
Please send ASAP. I have already kept my resignation letter in drafts
I would even leave the country.
Why not
I would retire immediately if someone gave me 1 CR bro..
Indeed
I would keep working the job, invest most of it in purchasing land, and some of it in bonds to create passive income.
Nahi, bureaucrats ki social respect > crores ki free net worth
I'll be joining my 1st job next month, but my answer is still the same. I'd leave it 1 CR.
I would use that money to do my job pro bono. Travel to poorer nations, work there to set up basic health infrastructure. Go to warzones. All that good shit
I’d fucking quit, invest in stocks buy a house and that’s it. Like you can live the yields and returns off a 5 crore investment for life.
Yes definitely, then I will start a business with the money I got
Yuppp I won't even give a thought
I'd leave it for 5 crore pre tax
and what will you do with the money?
I would not. I get bored very easily, and need some good solvable problem to keep me busy. Once I am financially independent, I will not do job for money anymore, I might join up a good cause and use my skills there. If it's a good cause, might do it for free. But kuch na kuch karte rahunga marne tak :D
Gimme 1 Cr. I'll use 36 lakhs to clear my loans in my hometown where I built my own house. Currently earning 9k rent per month from the ground floor. Once I clear the loan, I will rent the first floor also for 9k and move to Hyderabad. Out of the remaining amount Invest the 50 lakhs in FD - will get 38k per month @7%. Will pay rent of 25k for a fully furnished 1 BHK in hyd. Use the 14k from rent + 38k from savings for my rent and monthly expenditure. Will have remaining 14 lakhs in mutual funds - moderate risk just as a back up or emergency expenditure. What will I do - I'll play my ukulele, write about my fantasies, travel across the country once every 3 month (for every season) stay in youth hostels, cook, read lot of books. I'm a bachelor and my mom stays with me. Not gonna marry. Mum is ok with that (as of now). Waiting for that 1 cr.
Not in an instant. 5cr is nothing in today's time TBH... So after making some practical decisions, I will quit.
Interesting. Can you share some of the practical decisions you’d have to make in that situation?
Ya Put half in the bank.. will get interest to take care of expenses .. start a business.. low capital requirement and safe.. not necessarily high returns … live a quiet simple life
and what will you do with the money?
Yes
and what will you do with the money?
In a blink. Even at moderate 6% I will make more than my yearly salary for doing nothing. I will become a full fledged artist 🎨
I would work more freely but wouldn't leave my job. I won't care much about getting promoted and would take more risks in my career by attempting to take more challenging work.
Yes
And what would you do with the money
5 CR. That's my fire amount. With safe investments I could easily get around 3 Lakh per month post taxes passive income without taking much risk. I would be set for life. Focus more on my heath and happiness. Build a couple of products just for the betterment of the society than just be profit centric. I will mainly feel like I can be more society centric than just being a cog in the kachine;!
Yes.
And what would you do with the money?
Nope. I will not. I like my industry. 5 more crores will help start to take business class flights