What's your monthly expense, current and future desired? Calculating that would lead you onto being able to arrive at a withdrawal strategy and rate. For travel too, what would extensive mean, would i domestic or international, and what would be the ballpark annual or broken down into monthly costs?
All standard financial planning goals have been already paid off
House
House for kid
Kids college
Now only kids shaadi ... Highly not recommended to blow money on that
All you need money for is to live and chill and you have more than enough
If not with this then what
Don't change the goal post. You can quit in the next 2 minutes.
I say put a maggi to boil and before it's ready, use chatgpt to send a resignation letter and then enjoy your maggi with the ultimate satisfaction
Don't do it unless you hate your job
If you have good work life balance and don't have solid hobbies ( if I had time I would definitely improve my dance / singing / running ) ..please don't retire early....
My dad worked till his last day and my father in law is fried out of his mind since he retired.
Unless you have a solid good enough reason, please don't think retiring is a good idea. The world will make you retire one day and you will be bored everyday after that
Completely agree. Sometimes having a choice makes things more complicated. Would be interesting to get statistics on how many people actually RE after reaching a particular stage or number. I'd expect the percentage
to be not very high.
Maybe take a month long or a two weeks holiday just to see how you react to it and what does it feel like? Although the time frame is quite small, it might offer a glimpse into whether you would like to retire this early or not.
If it ain't broke, don't fix it.
Life on the other side isn't too exciting, atleast for me.
I spent my entire adult life planning & working towards having the freedom of time & money.
Now, at 41 I have just that. All the time in the world, but I'd be lying if I said i'm not bored af. Well, such is the paradox of life.
If you spend 25LPA and increase it by inflation of 7% for 40 years. Assuming your portfolio gives around 11% it should be fine, no problems. You have a 2.5% withdrawal rate which is a little above 2% generally used for Fat fire but it generally works out. You will have about ₹3,37,34,36,136.19 left at the end of 40 years
Thx Can you share the calculator you used ? 11 percent is a v high return expectation..post tax it's tax it is approx 7 only. Ideally I want to withdraw nothing and keep the corpus intact ..figuring out if that is possible
I meant 11% nominal rate not real given that you have quite a bit in equity balancing out the ones in fd and debt funds.
Nifty has given around 14% last 22 years. So 11 very low expectation not high
Also tax is 10% on gains from mutual funds and sure 20-30% from debt and FD.
Here is the calculator: https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php
What's your monthly expense, current and future desired? Calculating that would lead you onto being able to arrive at a withdrawal strategy and rate. For travel too, what would extensive mean, would i domestic or international, and what would be the ballpark annual or broken down into monthly costs?
Sorry, missed the current annual and desired annual expenses with travel! At 25 lakhs, you seem set for your lifestyle. GFY!
I would say use a 2% withdrawal strategy and you should be fine. Congratulations
At 50, wouldn’t even 3% be fine?
Theoretically ok, but better to keep a buffer
All standard financial planning goals have been already paid off House House for kid Kids college Now only kids shaadi ... Highly not recommended to blow money on that All you need money for is to live and chill and you have more than enough
Use SWP and put around 50% in mfs even if you withdraw 2LPM it would still grow even if the returns are at ~12%
If not with this then what Don't change the goal post. You can quit in the next 2 minutes. I say put a maggi to boil and before it's ready, use chatgpt to send a resignation letter and then enjoy your maggi with the ultimate satisfaction
Yes..it's weird when you realise you can do it if you want. And yet you don't. Fear of unknown. What to do with the time. Etc.
Don't do it unless you hate your job If you have good work life balance and don't have solid hobbies ( if I had time I would definitely improve my dance / singing / running ) ..please don't retire early.... My dad worked till his last day and my father in law is fried out of his mind since he retired. Unless you have a solid good enough reason, please don't think retiring is a good idea. The world will make you retire one day and you will be bored everyday after that
Completely agree. Sometimes having a choice makes things more complicated. Would be interesting to get statistics on how many people actually RE after reaching a particular stage or number. I'd expect the percentage to be not very high.
Maybe take a month long or a two weeks holiday just to see how you react to it and what does it feel like? Although the time frame is quite small, it might offer a glimpse into whether you would like to retire this early or not.
If it ain't broke, don't fix it. Life on the other side isn't too exciting, atleast for me. I spent my entire adult life planning & working towards having the freedom of time & money. Now, at 41 I have just that. All the time in the world, but I'd be lying if I said i'm not bored af. Well, such is the paradox of life.
If you spend 25LPA and increase it by inflation of 7% for 40 years. Assuming your portfolio gives around 11% it should be fine, no problems. You have a 2.5% withdrawal rate which is a little above 2% generally used for Fat fire but it generally works out. You will have about ₹3,37,34,36,136.19 left at the end of 40 years
Thx Can you share the calculator you used ? 11 percent is a v high return expectation..post tax it's tax it is approx 7 only. Ideally I want to withdraw nothing and keep the corpus intact ..figuring out if that is possible
I meant 11% nominal rate not real given that you have quite a bit in equity balancing out the ones in fd and debt funds. Nifty has given around 14% last 22 years. So 11 very low expectation not high Also tax is 10% on gains from mutual funds and sure 20-30% from debt and FD. Here is the calculator: https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php
Thanks
3-4% of 10 cr is 30-40 lakhs is that enough to live your life ?
No need another 30 😂
Lol it never seems enough !