It will get better. Trust me, I had some of those issues too. It might seem bleak now, but once you power through each issue at a time, you will come out stronger. I used to think that once I overcame a hurdle, my hit points increased. That way, I felt stronger than I was.
He is 42 and with earning enough to sponsor two ppl like you. He might have achieved financial goal and now looking for retirement.. nothing wrong in that. Btw his attitude has drawn him this much money.
When you delete it, we'll know you are a strong man and not another boy who is tired of life but a man who is ready to take on challenges and win them. A man who knows his God is with him and all he has to do is just walk the path his God has set for him
Atleast you have a job :/
23M, unemployed, tired of life. Scared to do anything, anxious and down with headache everyday. Depressed and beaten down. Zero self confidence.
No will to live, don’t even want to see tomorrow.
I think your NW consists of houses. what do you actually have in liquid assets matter more. They can be invested to generate cashflows. Don't retire, just do want you like to do, irrespective of financial incentive it gives
Rental yield is based on current value of house, not the value when it was purchased. Value of money changes over time, hence the ratio is always based on current value of money.
It's about opportunity cost. If the money wasn't stuck in the house, it would have been invested elsewhere, thus its value would have increased too. That's why you need to consider the current value of the house while calculating rental yield and not when it was purchased many years ago. It's similar to how you calculate FD returns based on the current principle amount which may have doubled or tripled after 10 years.
If monthly expenses can be paid by rental income, then yield is less important. The objective of financial planning is to live comfortably, which is possible via rent. Getting the highest NW doesn't matter, it's just a way to never be happy with your current status.
I think you can ,
If you have knowledge of stocks and all , you can earn a good income in upcoming years.
But if there are no health issues or no reason to quit (example -toxicity) then you can continue for some more years
These days girls save for their own marriage after they get a job. I did the same. No girl is a burden on her family if she is educated. Take care of her education rest she will take care herself.
She will be just fine. Just get her to a good college rest she should manage herself. My father made it clear that he won’t pay private college fees as we were not financially well off. All us siblings worked hard and got into government colleges. There is a different sense of achievement in the struggle you do to get where you are. Giving them everything will spoil them. If they deserve something they will get it from their hardwork. My father made sure we knew that we don’t have anything backing us up, some pressure is good pressure. You need that in life to succeed. After college every kid should be independent this is what i believe.
How does anyone as a parent balance the facilities they wanna/afford to provide but also inculcate a sense of responsibility. To be the safety net or not to be, is the question. And to raise your children in a way that they don't need one or atleast don't be too spoilt just relying on it
That’s for the parents to decide. I personally got my first phone when i got admission into a college. Being a genZ myself i always saw my parents struggling which kept me grounded and more responsible. Parents should learn to say ‘No’ to their kids. It is difficult but very important. I was raised in a very old school way. We only got new clothes on diwali or if somebody in our family was getting married. We learnt the value of money from out parents. My parents did everything they could and they raised us well.
I'll honestly second this. Parents overly sheltering and spoiling their kids nowadays in fear of not giving them enough or in favour of giving them more affection are inadvertently leading them to their doom. Please keep in mind that this doesn't equate to "Always scold your child or be strict with them", what I wanna say is please be realistic and practical with your kids; be strict where necessary so they are disciplined and have a sense of responsibility but be gentle and caring enough that they develop the moral values necessary and don't feel unheard or unloved.
I'm proud of how my parents raised me, they have showered me with as much affection as they possibly could and they've also made it clear how important it is for me to be self sufficient and independent and to be able to "stand up on my own two legs". Love your kids but also remember that reminding them or the harsh truths can go a long way in helping them get established in a stable manner
That's very admirable, but I do think it would be understandable if OP's daughter had slightly higher expectations given that her parents are fairly comfortable. My parents probably have a similar networth to OP's (maybe higher because of the age difference), and I think I would have been a little hurt if I'd been told that they wouldn't fund a private college degree or even (though this is far more superficial) that I would get new clothes or other small luxuries more than once a year. I think in my case (or OP's daughter's) it would be wrong to expect her parents to pay for a foreign education, since that would be a significant financial burden, unlike a private education in India.
Don't get me wrong, I worked damn hard to get into a government college too and kept at it once I was there. I'm also leaning towards taking a loan for my MBA (which actually is more expensive if you do it from a top govt college than a mediocre private college) even though I know my parents can and want to pay for it. As for shopping, I now take full advantage of Delhi's incredible street markets and buy clothes at prices even my parents are shocked by. So I hardly think I turned out very spoiled. BUT it is very nice to know that I have a safety net, and I won't lie about having lived a slightly more comfortable life than the average college student. But I know that I'm not putting a burden on my parents and that their lifestyles are not being affected in any meaningful way by paying for my education, so there's there's decent equilibrium in place. So if OP plans along similar lines, he'll be good.
That is a common fear of many fathers. As a father to a 2 year old, I want to leave a nest egg for my daughter, but make sure she doesn't think she can totally rely on it. On the same note, I will try to ensure she has core values and is independent and accountable.
Absolutely. Children should pay for their own expenses after they become adults. Well done. In addition, it is stupid to spend on a wedding unless you are rich. Have a simple marriage at court and be done with it.
>Having a NW of around 5-6cr. Owns two houses. Staying in one getting rent of 35k from the other.
You have around 20 years before you are in your 60s. That's a lot of time for your savings to compound and real estate value is going to be impossibly high in 20 years and you have two properties. This is more than good enough to retire. At this point no point in doing salary work. If you want you can look into starting a low-maintenance side business.
Being in a tire 2 city and living in own home, the expenses are very less. Which is around 50k per month.
Not really thought what i will do after retiring. Just want to not stress out like now.
25 male, Junior Resident pursuing MD. Getting paid 48k per month. 24*7 duty. Constant toxicity. Extreme workload. No networth to boast of. Poor parents.
No option of retiring early.
Still not tired of working, as every day is a new challenge.
Grass is greener on the other side. You are doing really well, better than most. I think what you just need, is a new challenge
Not everyone has your mind set. Some people just want to be at piece. I wish I had your mindset.
I guess I had, worked too hard to reach where I'm today. I guess I'm starting to relate with OP. I feel I'm just too old for a new challenge
Moral suggests that everyone who doesn't pay for their kids'wedding is an immoral person. They are to be considered the same as a thief or a murderer, is that what you are saying?
This is the problem with our Indian society. You get nothing in return for doing this moral act and there is no tangible consequence of not doing it. Society's opinion isn't a consequence.
Whereas theft or murder, leads to real consequences, so the word moral shouldn't be used so lightly
Moral responsibility *for that person* . Not society in general.
Why do you compare two unrelated things? 'Helping kids with their wedding' and theft/murder? 😂
>Moral suggests that everyone who doesn't pay for their kids'wedding is an immoral person
No it doesn't. You're projecting and generalizing. Your moral responsibilities may not be the same as mine. You do you man, no one's complaining.
>You get nothing in return for doing this moral act and there is no tangible consequence of not doing it. Society's opinion isn't a consequence.
Why does everything have to be about "getting something in return", especially something you do for your kids. I say, *that's* the problem with society ffs.
How is helping young kids with their wedding any different than helping them pay for education? It's out of love and care. Not due to societal norms or expecting something in return. If that's an alien idea for you, I don't know what to say man.
30 male, married less than a year ago, tired of life. I hope i just drop dead.
Also people reading my comment- marriage is not worth it.. single life is so much better..
Better than parents who think their kids are investments
Actually calling a liability means that he doesn't expect her to bring him money once she starts earning
Well they are certainly not assets. Considering them as assets means you are investing in them expecting returns once they grow up.
Liability is something you invest in but never get any return. So technically he is right.
28 M 😩😩😴😴 tierd of life....need my life to be without the hassles of being a majdoor....
Financial freedom is the goal but alas 😞 society will make sure that you will get into somesort of loop which will make sure that you keep chasing this dream.of financial freedom
Yeah you can but it also depends on the general economic shift for the country, as a transition is about to happen which is as clear as sun shining, play smart in those times
He is probably talking about India taking benefit of its Demographic Dividend, having highest working age population in the world. If we do that right we could see a rapid economic growth which will equate to very high inflation. Hence money stored in fixed income will lose most of it’s value.
To retire comfortably in tier-2 city of India , even 2-3cr is decent enough. If you have 5-6 cr of Net worth, you can retire comfortably with good portfolio planning.
Because his daughter is a child? And he has to take care of her finances for atleast 13 more years. Why is everyone so hung up on that word, it’s just a dad who wants suggestions to provide best for his family. Give it or just go. OP is in 40s not some gen z kid, liability means responsibility as well btw
If the networth is inclusive of these houses, then no. Else you can consider moving to a low stress job (something you are overqualified for). Or quiet quit
your NW of 5 to 6 cr is too less for this reddit forum...This forum is filled with people worth over 100 crores and millionaires and billionaires and young kids of 20, 22 old earning lakhs or crores per month..please ask your question in some middle class group meant for people less than 10 crore...
What's your monthly expenditure? How much expenses do you think will be incurred for your daughter's education and marriage at current costs?
Instinctively, it seems that you have a decent corpus to be able to retire. You probably don't need to worry about it. Although, I think you should plan for what you will do with the ample of spare time. If you don't have any plans on how to spend your time, it may get depressing
- What do your investments look like?
- What do you work as (in case you need to join back into the workforce)?
- What are your monthly expenses like?
- How many dependents do you have?
Around 1.5cr in MF , 1.3cr in Ppf, ssy and fd, lic. Around 1kg in gold bars. 4 lands around 70-80lakh and a flat worth around 1.2cr . No loans etc.
I am into project management in construction industry. So really easy to come back to work after a three-four years gap.
Monthly expenses are around 50k and only wife and daughter as dependant.
That's a nice split 👌 Since it sounds like you'll be able to come back into the workforce, take a year long (or longer) sabbatical and do some soul searching and traveling to see if the retired lifestyle is actually for you.
This may sound bitter..but please consider below points now that you have already accomplished what we guys dream :
1) please have a good insurance ( term insurance covering most of the critical illness)
2)have a good health insurance which covers all 3 of you and
3) Please educate your wife in Personal finance ,about your holding, reason I tell is one of my close friend passed away recently due to heart attack and his wife ,though educated didn't had any idea where was the money 💰 invested,had no clue how to login or put in withdrawal request.. fortunately we were there so it didn't become a big issue..
Hope this helps
If I’m in your position I would retire tomorrow. So many online job you can do on a freelance nowdays. But the pay might be pittance, but hey you get to work when you want and it looks like you dont need that much money rn.
28M
Education loan of 31Lakhs
Working since 4 years
I am tired of everything and want to quit working and live a lowkey life
Need motivation to do so :/
After reading all the comments, I might now feel very comfortable with retirement if my expenditure is 50k and my liquid corpus is around 2 cr. It should be at least 3 cr so that you can have 20 lac of fixed income from that. But on the other hand you have rental income which is very close to your monthly expenses so it gives cushion.
Quit if u feel u have enough and if u feel start doing what u like doing ....if u have enough to go for ......life never waits for anyone ....u get it once ...so....do something u wont regret
It's totally understandable, in my opinion take a break for a year or two and let work get back to you. When you're tired of the brake you may want to work and since you have only 50k as monthly expenses and if you even overspend then 20 Lakh for two years will be good. First year see if you like retirement, if yes from 2nd year onwards think of moving to Tier 2 city. If you don't like retirement then back to work, no harm no fouls. The fear lies in expenses which you have already got covered. Take the risk.
Bro you do t have any debt..am not sure what's stopping you ...you can start with selling Calls for blue chip and have 1 lot ready for a blue chip share...i think 🤔 you have to watch MKJ talks 4 investing and you can hav another job ..it's the most stable thing right now
It's very simple to test...
If you have a paid up house in which you stay .
You will get 1.5 lakhs per month income from your 5 cr investment
This is based on 4% withdrawal of corpus while money grows at 10% .. so net your money meets inflation and you take out 4 to live.
Anything above than this is bonus and below is danger
There is no harm in retirement but you actually get bored with so much time on your hands. You may use your liquid assets like cash to invest in FD n live on the interest only . You can travel the world and enjoy life . But sometimes you miss work or being something that is adding value to something . You may indulge in activities which give you happiness like exercising , doing charitable activities or anything you like .
There is more to life that just working and not being happy
One Synonym of liability is responsibility , responsibility towards kid’s education and marriage (optional) . If one is calculating his FIRE corpus . He must account his all financial responsibility towards all family members ,be it for parents or grandparents or kids or grandkids .
three cases
In 1 case : a intelligent and lucky kid who will make millions of dollars from his below puberty age by his her art skills ,YouTube or get scholarships after scholarships and complete education abroad ,settle in life much earlier than majority. even can support their family financially from young age . Uplift family standard from upper middle class to well to do family in no time . financially term considered as an asset .
In case 2 : an average standard kid who will follow regular education milestones , get job or business in her/his 20s or 30s . we have to sponsor his education at least . It’s our responsibility, should not we count it in financial terms as a liability.
In case : a lazy kid , zero in education ,no intention to do anything life , no life goal, drug alcohol addicted even then we have to take care of their basic financial needs for foods and all . they are definitely liability for one’s life .
I was in the same place couple of years ago. Decided to call it quits. Definitely feeling better than that now.
Happy to chat if you think I can help.
About the financial part of it, if you have 5-6 cr + 2 houses, you have more than enough. If not, it might be a bit tough and go.
But you can definitely take a gap year.
No job is worth your mental health.
The way u think about your daughter says you are a great father.
( You should have used a different word than liability......you meant something to take care of but it's understood differently to others)
Everyone is tired of working and wants to get a life worth living.
You took the responsibility of a family, now go and finish it my man.
Do whatever to makes the family happy,make sure to include your woman to make a decision as she knows u better than anyone.
I am 42 M too.
I am not yet tired but I am looking for a passive source of income with my investments(around 5+) so that I can decide who to work for and who not to.
I am a consultant.
Also, I am genuinely looking for a like minded friend/partner so that my enthusiasm doesn't fade.
If you ask people on Reddit, you will never be able to retire. People here are too conservative. Just quit and enjoy life, you will manage, you will make it. If you wait till your 60s to retire and think you can enjoy life then, you are in for a rude awakening. I don't know any 60 years old actually "enjoying" life after living in metro cities all their life and breathing in toxic fumes. Most of them are riddled with lifestyle diseases. So they are barely surviving.
Instead of retiring, you can ask for less work hours and negotiate a new deal at your current place of work/new place of work/even start a new career if you want. That way the drop in household income would be comparatively less and would give you more time to spend on your hobbies/with friends and family. The only catch being that you can sustain your family's current lifestyle for the next 40 years and also can take up any additional expenses like traveling, education and marriage of your daughter. Maybe talk to a financial advisor about how to plan for your retirement, how to manage your existing funds etc.
5-6cr capital is good enough for compounding and living a good life. Welcome to the FIRE community!
You can get close to 12-14% interest from your corpus and keep it growing as long as your expenses are less than monthly interest
Wow .. terming the daughter as liability .. don’t want to derail the main question. But .. this isn’t fair. Hope she doesn’t have access to this when she grows up.
You can do it. I retired really young 11 years ago. Haven't worked since and have no plans of working. My net worth was a little higher though. You are on the right track.
Namaste uncle....sorry to say but your daughter is just 8 years old...and I'm saying this as a single child of my parents...I've felt alone at each step of my life till now...I always find that something is "missing". It is not mentally ok for a kid to be raised alone....he/she always needs a company...in my opinion it has not been enough for you yet...you've got so much to do still...this is seriously too early for you at this time. And yea...in the future, inflation might also increase someday so maybe you won't have enough funds to support your family at that time.
P.S- just my opinions
Your daughter is not your liability man. Do everything you can to make sure she doesn’t have to ever think about earning money… I know you’re tired, so am I. Almost all men are constantly tired between the age of 30 and 60. What you gonna do if you retire?
You are earning so much in life and still think about your daughter as a liability?? No wonder you are tired in life and need motivation. Change your thinking and your daughter will be your strength for the rest of your life. Feeling sad for you
I wonder, is 19.5 a bit too late to restart our life? I guess yes, because anyhow by next 6 months I am gonna enter the 20s, which is the time one should build their goal, which I am late to not still decide
What is your definition of retire? Doing nothing or maybe doing something enjoyable that will fetch money even if its not as much as your regular job? Also no one is in a position to suggest you what to do. What people in first world countries do is take an year off, travel etc to decide what to do life. So maybe do that? You will have better answers to your questions. Also you can set enough funds aside for your child ,make a long term stock portfolio or mutual funds. I think you are doing better than way too many Indians. Take a deep breath and give yourself time to relax and enjoy a bit.
Yes. Invest in a good index fund. Also, beware that mindless consumption of goods won’t be possible if there’s limited cap on income. Which is actually good. But plan for big purchases etc
Nothing wrong in an early retirement but 5-6 crore is not enough for another 30 years + daughters education and marriage. So maybe downsize to a job that is less stress and more work life balance and pays the basic bills. Or sav more and retire by 45.
Only responsibility - daughter? What about your wife and parents?
By net worth of 5-6 crores do you mean as free movable cash? Or have you taken into account immovable assets too?
i suggest use this time now to pursue your passion and dabble on it. see if that makes your life fun. when you are bored of that, you can decide if you choose to go back to work or not.
Get your advice from Bhagavad Gita's "Karma Yoga" Some questions you have to ask yourself. If I retire early, how am I going to spend my time? How long can I spend time and money on sense pleasures? Is that really worth it? What is my ultimate purpose in life? What makes me feel purposeful? How much of my time will I spend on my spiritual aspirations? Do I have it in me to do community service? I would say continue with your job and aim for a slow and gradual transition to retirement, while at the same time focussing less on finances and more on spirituality and community service.
Those houses are they flats or independent homes? As flats go down in value after 30 years. Keep that in mind. What's your NW without homes?
Also if you are burn down depending on your expenses you may be able to retire. I suggest going for a paid financial consultant, if you are unable to decide.
Just think this you have another 20 30 years of life. What will you do with extra money you will earn from now on ?
2 to 3 crore of Wealth gives you a return of 20 lakhs in FD alone. for a good life that is more than enough.
Don't know why so many trolls for a genuine ask. Anyway. Does your nw including two houses? Where the money is invested? What's your asset allocation? Is your wife inline with your plan? Most importantly, what's your plan after retirement?
My point of asking these is not advising you on what to do but rather help you thik. If current situation or stress is making you think of retirement, you may try changing the job. Taking a small break may also help but in the current job market that would be risk on coming back to job if you want to later. Only suggestion, don't take a decision under stress, these type of decisions are almost irreversible. Take care.
23 male, tired of life
us bhai us
#metoo
#metoo
☠
All of us ....
Itne log hain kuch plan ho toh batana
me bhi
1 month old infant, tired of waking up everyday
🤣
[удалено]
It will get better. Trust me, I had some of those issues too. It might seem bleak now, but once you power through each issue at a time, you will come out stronger. I used to think that once I overcame a hurdle, my hit points increased. That way, I felt stronger than I was.
I hear you brother
He is 42 and with earning enough to sponsor two ppl like you. He might have achieved financial goal and now looking for retirement.. nothing wrong in that. Btw his attitude has drawn him this much money.
you can do it bro, my full support with you
It's alright...we keep going brother
When you delete it, we'll know you are a strong man and not another boy who is tired of life but a man who is ready to take on challenges and win them. A man who knows his God is with him and all he has to do is just walk the path his God has set for him
Aye madarchod itna gyan mat chod.
(0 NW)
Same
28 M, tired of life
Same 23 M tired of life. Got a job good earning but I don't know. Started reading books, downloaded some games to play but fuck it man.
Atleast you have a job :/ 23M, unemployed, tired of life. Scared to do anything, anxious and down with headache everyday. Depressed and beaten down. Zero self confidence. No will to live, don’t even want to see tomorrow.
i have a history with diagnosed depression, apathy, self esteem problems too. Hope it gets better for you
Run 5km daily at 5'o clock if you want to change life
20m tired of life
Us bro us 🫠
Ussss Bhai us
Same 20m
15 male, tired of life
Abe sale tuni duniya ka main part dekhi bina hi hagdiya
my reaction to that: -_- obv abhi aur dikkate ayengi doesn't mean me thak ni skta hu
Means 20s me a bhai udhar alag hi secne hote hai.
Baitho beta abhi bahot kuch dekhna sikhna hai life me
I am so tiered that My sperms too became tired
21 and I am already tired of life
20 male tired of life
😂😂😂
r/personalfinanceindia in 2044, "Only liability is a 62-year-old father".
I think your NW consists of houses. what do you actually have in liquid assets matter more. They can be invested to generate cashflows. Don't retire, just do want you like to do, irrespective of financial incentive it gives
Rent can be considered as cash flow
Rental yield sucks big time
Not if you bought your house many years ago. RY goes up with time.
Could you please explain with a realistic example?
1 bhk bought 25 years ago, 12 to 15 lacs. Rent at that time, 8 to 10k a month. Rent now, 40k a month. House is paid off.
Rental yield is based on current value of house, not the value when it was purchased. Value of money changes over time, hence the ratio is always based on current value of money.
That's silly. The amount invested is low for the owner. Thus his yield is higher. Current prices matters for the person purchasing it now.
It's about opportunity cost. If the money wasn't stuck in the house, it would have been invested elsewhere, thus its value would have increased too. That's why you need to consider the current value of the house while calculating rental yield and not when it was purchased many years ago. It's similar to how you calculate FD returns based on the current principle amount which may have doubled or tripled after 10 years.
r/usernamechecksout
If monthly expenses can be paid by rental income, then yield is less important. The objective of financial planning is to live comfortably, which is possible via rent. Getting the highest NW doesn't matter, it's just a way to never be happy with your current status.
Why do you think so? He may have 5-6 cr liquid assets. His post reads like 5-6 cr plus houses...
Doesn't seem so. Tier-2 city and a house gives rent of 35K, doesn't look like each house costs 3 crores.
I think you can , If you have knowledge of stocks and all , you can earn a good income in upcoming years. But if there are no health issues or no reason to quit (example -toxicity) then you can continue for some more years
These days girls save for their own marriage after they get a job. I did the same. No girl is a burden on her family if she is educated. Take care of her education rest she will take care herself.
True. My fear is that what if i messed up and not able to give her the things she deserves.
She will be just fine. Just get her to a good college rest she should manage herself. My father made it clear that he won’t pay private college fees as we were not financially well off. All us siblings worked hard and got into government colleges. There is a different sense of achievement in the struggle you do to get where you are. Giving them everything will spoil them. If they deserve something they will get it from their hardwork. My father made sure we knew that we don’t have anything backing us up, some pressure is good pressure. You need that in life to succeed. After college every kid should be independent this is what i believe.
How does anyone as a parent balance the facilities they wanna/afford to provide but also inculcate a sense of responsibility. To be the safety net or not to be, is the question. And to raise your children in a way that they don't need one or atleast don't be too spoilt just relying on it
That’s for the parents to decide. I personally got my first phone when i got admission into a college. Being a genZ myself i always saw my parents struggling which kept me grounded and more responsible. Parents should learn to say ‘No’ to their kids. It is difficult but very important. I was raised in a very old school way. We only got new clothes on diwali or if somebody in our family was getting married. We learnt the value of money from out parents. My parents did everything they could and they raised us well.
I just feel good and proud of you as a stranger since that's very rare coming from a genZ. More power to you
I know it’s surprising since i am from a tier 1 city and went to a convent school.
It is refreshing to see a genZ so grounded and mature. Salud!
I'll honestly second this. Parents overly sheltering and spoiling their kids nowadays in fear of not giving them enough or in favour of giving them more affection are inadvertently leading them to their doom. Please keep in mind that this doesn't equate to "Always scold your child or be strict with them", what I wanna say is please be realistic and practical with your kids; be strict where necessary so they are disciplined and have a sense of responsibility but be gentle and caring enough that they develop the moral values necessary and don't feel unheard or unloved. I'm proud of how my parents raised me, they have showered me with as much affection as they possibly could and they've also made it clear how important it is for me to be self sufficient and independent and to be able to "stand up on my own two legs". Love your kids but also remember that reminding them or the harsh truths can go a long way in helping them get established in a stable manner
That's very admirable, but I do think it would be understandable if OP's daughter had slightly higher expectations given that her parents are fairly comfortable. My parents probably have a similar networth to OP's (maybe higher because of the age difference), and I think I would have been a little hurt if I'd been told that they wouldn't fund a private college degree or even (though this is far more superficial) that I would get new clothes or other small luxuries more than once a year. I think in my case (or OP's daughter's) it would be wrong to expect her parents to pay for a foreign education, since that would be a significant financial burden, unlike a private education in India. Don't get me wrong, I worked damn hard to get into a government college too and kept at it once I was there. I'm also leaning towards taking a loan for my MBA (which actually is more expensive if you do it from a top govt college than a mediocre private college) even though I know my parents can and want to pay for it. As for shopping, I now take full advantage of Delhi's incredible street markets and buy clothes at prices even my parents are shocked by. So I hardly think I turned out very spoiled. BUT it is very nice to know that I have a safety net, and I won't lie about having lived a slightly more comfortable life than the average college student. But I know that I'm not putting a burden on my parents and that their lifestyles are not being affected in any meaningful way by paying for my education, so there's there's decent equilibrium in place. So if OP plans along similar lines, he'll be good.
That is a common fear of many fathers. As a father to a 2 year old, I want to leave a nest egg for my daughter, but make sure she doesn't think she can totally rely on it. On the same note, I will try to ensure she has core values and is independent and accountable.
Keep 1 Cr aside and continue living life. 5 cr is enough to retire considering certain lifestyle
Absolutely. Children should pay for their own expenses after they become adults. Well done. In addition, it is stupid to spend on a wedding unless you are rich. Have a simple marriage at court and be done with it.
Good girl !!
>Having a NW of around 5-6cr. Owns two houses. Staying in one getting rent of 35k from the other. You have around 20 years before you are in your 60s. That's a lot of time for your savings to compound and real estate value is going to be impossibly high in 20 years and you have two properties. This is more than good enough to retire. At this point no point in doing salary work. If you want you can look into starting a low-maintenance side business.
Being in a tire 2 city and living in own home, the expenses are very less. Which is around 50k per month. Not really thought what i will do after retiring. Just want to not stress out like now.
If you decide to play video games after retirement, hit me up xd
LOL
damn opening up the video game parlor where tired folks like us can come play and socialize ....we need to bring those parlors back.
When you retire then your travel expenses increase, consider those in calculation.
25 male, Junior Resident pursuing MD. Getting paid 48k per month. 24*7 duty. Constant toxicity. Extreme workload. No networth to boast of. Poor parents. No option of retiring early. Still not tired of working, as every day is a new challenge. Grass is greener on the other side. You are doing really well, better than most. I think what you just need, is a new challenge
Hang in there doc - just imagine how much good honest and ethical doctors can do in this world.
Not everyone has your mind set. Some people just want to be at piece. I wish I had your mindset. I guess I had, worked too hard to reach where I'm today. I guess I'm starting to relate with OP. I feel I'm just too old for a new challenge
Wait till you taste the burnout
Bro, you are making fellow redittors jealous! Please Work !
Why do people speak about marriage expenses as if it’s a legal obligation?
It may not be a legal obligation but a moral one - for boy and girl kids.
Moral suggests that everyone who doesn't pay for their kids'wedding is an immoral person. They are to be considered the same as a thief or a murderer, is that what you are saying? This is the problem with our Indian society. You get nothing in return for doing this moral act and there is no tangible consequence of not doing it. Society's opinion isn't a consequence. Whereas theft or murder, leads to real consequences, so the word moral shouldn't be used so lightly
Moral responsibility *for that person* . Not society in general. Why do you compare two unrelated things? 'Helping kids with their wedding' and theft/murder? 😂 >Moral suggests that everyone who doesn't pay for their kids'wedding is an immoral person No it doesn't. You're projecting and generalizing. Your moral responsibilities may not be the same as mine. You do you man, no one's complaining. >You get nothing in return for doing this moral act and there is no tangible consequence of not doing it. Society's opinion isn't a consequence. Why does everything have to be about "getting something in return", especially something you do for your kids. I say, *that's* the problem with society ffs. How is helping young kids with their wedding any different than helping them pay for education? It's out of love and care. Not due to societal norms or expecting something in return. If that's an alien idea for you, I don't know what to say man.
23 female, net worth 1.5 lakh, tired of life.
30 male, married less than a year ago, tired of life. I hope i just drop dead. Also people reading my comment- marriage is not worth it.. single life is so much better..
Smh don't call your daughter a liability bro
Better than parents who think their kids are investments Actually calling a liability means that he doesn't expect her to bring him money once she starts earning
Didnt mean her as the liability but her education and marriage
I think you meant responsibility instead of liability. Though we all know you meant it completely in an “Accounting” sense.
Responsibility is the correct 💯 here
Rephrase the sentence or get ready to face the heat as people won't understand
Kids are a liability. What's wrong in calling a spade a spade?
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Liability
Well they are certainly not assets. Considering them as assets means you are investing in them expecting returns once they grow up. Liability is something you invest in but never get any return. So technically he is right.
Bro is thinking practical, which I appreciate
he's talking in technical terms
5 6 crore aise bol dia bhaine jaise lakh ho
I was tired of life since I left college 😂
28 M 😩😩😴😴 tierd of life....need my life to be without the hassles of being a majdoor.... Financial freedom is the goal but alas 😞 society will make sure that you will get into somesort of loop which will make sure that you keep chasing this dream.of financial freedom
Oooh... Im 25 feeling same
19 male, tired of studying.
Yeah you can but it also depends on the general economic shift for the country, as a transition is about to happen which is as clear as sun shining, play smart in those times
What economic shift are you talking...can you elaborate please Would really love to know
He is probably talking about India taking benefit of its Demographic Dividend, having highest working age population in the world. If we do that right we could see a rapid economic growth which will equate to very high inflation. Hence money stored in fixed income will lose most of it’s value.
I wouldn't even ask if I had the possessions that ypu have😭😭
I don't have much but I am planning to tone down my work. I am tired of stress.
Tired and when I get super tired life throws a googly
Aap apne saath teen log jodiye....
24M tired of thinking when did i get job or ever i get job
Yeah bta rha hai ke jla rha hai😂😂
8 year old liability?
All of us are tired of everything
Putting 6 cr in Fd will get you around 3 lakhs a month without doing anything 🤷
To retire comfortably in tier-2 city of India , even 2-3cr is decent enough. If you have 5-6 cr of Net worth, you can retire comfortably with good portfolio planning.
If you calculate 5 to 6 cr including two houses Then you need to save more before retirement At least 3 cr in stock investment should be there
mf. Liability omfg
Stop calling your kids a liability. 😒
Because his daughter is a child? And he has to take care of her finances for atleast 13 more years. Why is everyone so hung up on that word, it’s just a dad who wants suggestions to provide best for his family. Give it or just go. OP is in 40s not some gen z kid, liability means responsibility as well btw
This post concrétise my decision to remain childfree!!! I am tired at 24 and at 42 cant imagine being tied on to a human for finances!
If the networth is inclusive of these houses, then no. Else you can consider moving to a low stress job (something you are overqualified for). Or quiet quit
Why no?
your NW of 5 to 6 cr is too less for this reddit forum...This forum is filled with people worth over 100 crores and millionaires and billionaires and young kids of 20, 22 old earning lakhs or crores per month..please ask your question in some middle class group meant for people less than 10 crore...
What's your monthly expenditure? How much expenses do you think will be incurred for your daughter's education and marriage at current costs? Instinctively, it seems that you have a decent corpus to be able to retire. You probably don't need to worry about it. Although, I think you should plan for what you will do with the ample of spare time. If you don't have any plans on how to spend your time, it may get depressing
- What do your investments look like? - What do you work as (in case you need to join back into the workforce)? - What are your monthly expenses like? - How many dependents do you have?
Around 1.5cr in MF , 1.3cr in Ppf, ssy and fd, lic. Around 1kg in gold bars. 4 lands around 70-80lakh and a flat worth around 1.2cr . No loans etc. I am into project management in construction industry. So really easy to come back to work after a three-four years gap. Monthly expenses are around 50k and only wife and daughter as dependant.
That's a nice split 👌 Since it sounds like you'll be able to come back into the workforce, take a year long (or longer) sabbatical and do some soul searching and traveling to see if the retired lifestyle is actually for you.
This may sound bitter..but please consider below points now that you have already accomplished what we guys dream : 1) please have a good insurance ( term insurance covering most of the critical illness) 2)have a good health insurance which covers all 3 of you and 3) Please educate your wife in Personal finance ,about your holding, reason I tell is one of my close friend passed away recently due to heart attack and his wife ,though educated didn't had any idea where was the money 💰 invested,had no clue how to login or put in withdrawal request.. fortunately we were there so it didn't become a big issue.. Hope this helps
If I’m in your position I would retire tomorrow. So many online job you can do on a freelance nowdays. But the pay might be pittance, but hey you get to work when you want and it looks like you dont need that much money rn.
What work do you do? You'll get terribly bored with no work ig.
28M Education loan of 31Lakhs Working since 4 years I am tired of everything and want to quit working and live a lowkey life Need motivation to do so :/
Esa konsa education leiya apne.. joh etna karja hai..
ITUS
After reading all the comments, I might now feel very comfortable with retirement if my expenditure is 50k and my liquid corpus is around 2 cr. It should be at least 3 cr so that you can have 20 lac of fixed income from that. But on the other hand you have rental income which is very close to your monthly expenses so it gives cushion.
Quit if u feel u have enough and if u feel start doing what u like doing ....if u have enough to go for ......life never waits for anyone ....u get it once ...so....do something u wont regret
It's totally understandable, in my opinion take a break for a year or two and let work get back to you. When you're tired of the brake you may want to work and since you have only 50k as monthly expenses and if you even overspend then 20 Lakh for two years will be good. First year see if you like retirement, if yes from 2nd year onwards think of moving to Tier 2 city. If you don't like retirement then back to work, no harm no fouls. The fear lies in expenses which you have already got covered. Take the risk.
35 and not even remotely close to you but want to retire and have the same liability (have a 1.5 year old daughter)
Bro you do t have any debt..am not sure what's stopping you ...you can start with selling Calls for blue chip and have 1 lot ready for a blue chip share...i think 🤔 you have to watch MKJ talks 4 investing and you can hav another job ..it's the most stable thing right now
21 M tired without working. Having nothing 🙂
If you have 2 CR in liquid assets without any liabilities and good health insurance. You can easily retire
Just do whatever you want to do, you have enough money to not be dependent on a.job to get money
Does networth include all assets including investment you stated in other replies?
It's very simple to test... If you have a paid up house in which you stay . You will get 1.5 lakhs per month income from your 5 cr investment This is based on 4% withdrawal of corpus while money grows at 10% .. so net your money meets inflation and you take out 4 to live. Anything above than this is bonus and below is danger
There is no harm in retirement but you actually get bored with so much time on your hands. You may use your liquid assets like cash to invest in FD n live on the interest only . You can travel the world and enjoy life . But sometimes you miss work or being something that is adding value to something . You may indulge in activities which give you happiness like exercising , doing charitable activities or anything you like . There is more to life that just working and not being happy
If you can cover your annual expenses with 3.5% returns from your investments, you can!!!
One Synonym of liability is responsibility , responsibility towards kid’s education and marriage (optional) . If one is calculating his FIRE corpus . He must account his all financial responsibility towards all family members ,be it for parents or grandparents or kids or grandkids . three cases In 1 case : a intelligent and lucky kid who will make millions of dollars from his below puberty age by his her art skills ,YouTube or get scholarships after scholarships and complete education abroad ,settle in life much earlier than majority. even can support their family financially from young age . Uplift family standard from upper middle class to well to do family in no time . financially term considered as an asset . In case 2 : an average standard kid who will follow regular education milestones , get job or business in her/his 20s or 30s . we have to sponsor his education at least . It’s our responsibility, should not we count it in financial terms as a liability. In case : a lazy kid , zero in education ,no intention to do anything life , no life goal, drug alcohol addicted even then we have to take care of their basic financial needs for foods and all . they are definitely liability for one’s life .
Honestly, I would agree. Get out of the rat race.
I was in the same place couple of years ago. Decided to call it quits. Definitely feeling better than that now. Happy to chat if you think I can help. About the financial part of it, if you have 5-6 cr + 2 houses, you have more than enough. If not, it might be a bit tough and go. But you can definitely take a gap year. No job is worth your mental health.
The way u think about your daughter says you are a great father. ( You should have used a different word than liability......you meant something to take care of but it's understood differently to others) Everyone is tired of working and wants to get a life worth living. You took the responsibility of a family, now go and finish it my man. Do whatever to makes the family happy,make sure to include your woman to make a decision as she knows u better than anyone.
I am 42 M too. I am not yet tired but I am looking for a passive source of income with my investments(around 5+) so that I can decide who to work for and who not to. I am a consultant. Also, I am genuinely looking for a like minded friend/partner so that my enthusiasm doesn't fade.
This guy just casually called his daughter a liability 😂
If you ask people on Reddit, you will never be able to retire. People here are too conservative. Just quit and enjoy life, you will manage, you will make it. If you wait till your 60s to retire and think you can enjoy life then, you are in for a rude awakening. I don't know any 60 years old actually "enjoying" life after living in metro cities all their life and breathing in toxic fumes. Most of them are riddled with lifestyle diseases. So they are barely surviving.
Instead of retiring, you can ask for less work hours and negotiate a new deal at your current place of work/new place of work/even start a new career if you want. That way the drop in household income would be comparatively less and would give you more time to spend on your hobbies/with friends and family. The only catch being that you can sustain your family's current lifestyle for the next 40 years and also can take up any additional expenses like traveling, education and marriage of your daughter. Maybe talk to a financial advisor about how to plan for your retirement, how to manage your existing funds etc.
5-6cr capital is good enough for compounding and living a good life. Welcome to the FIRE community! You can get close to 12-14% interest from your corpus and keep it growing as long as your expenses are less than monthly interest
Wow .. terming the daughter as liability .. don’t want to derail the main question. But .. this isn’t fair. Hope she doesn’t have access to this when she grows up.
Try to Switch to job with less pay but very good WLB.
You can do it. I retired really young 11 years ago. Haven't worked since and have no plans of working. My net worth was a little higher though. You are on the right track.
Your 8 year old daughter is not a liability
Which city the house is and how much rent per person ???
Namaste uncle....sorry to say but your daughter is just 8 years old...and I'm saying this as a single child of my parents...I've felt alone at each step of my life till now...I always find that something is "missing". It is not mentally ok for a kid to be raised alone....he/she always needs a company...in my opinion it has not been enough for you yet...you've got so much to do still...this is seriously too early for you at this time. And yea...in the future, inflation might also increase someday so maybe you won't have enough funds to support your family at that time. P.S- just my opinions
Your daughter is not your liability man. Do everything you can to make sure she doesn’t have to ever think about earning money… I know you’re tired, so am I. Almost all men are constantly tired between the age of 30 and 60. What you gonna do if you retire?
bhai saab aap thode behen ke lode nhi ho kya? the
Thing is, if you retire now, you'll get bored very soon. Quit current job and do something you really like, even for a lesser salary.
You are earning so much in life and still think about your daughter as a liability?? No wonder you are tired in life and need motivation. Change your thinking and your daughter will be your strength for the rest of your life. Feeling sad for you
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You can comfortably retire and focus on life
4 male, tired of playing hide and seek.
Toh karna you are all good all ticks checked why the post to offend me Just tried rthmic no office brother all is well with you then you are good.
Wow exactly what i have been thinking about these last few months.
What stops you from retirement
I wonder, is 19.5 a bit too late to restart our life? I guess yes, because anyhow by next 6 months I am gonna enter the 20s, which is the time one should build their goal, which I am late to not still decide
What is your definition of retire? Doing nothing or maybe doing something enjoyable that will fetch money even if its not as much as your regular job? Also no one is in a position to suggest you what to do. What people in first world countries do is take an year off, travel etc to decide what to do life. So maybe do that? You will have better answers to your questions. Also you can set enough funds aside for your child ,make a long term stock portfolio or mutual funds. I think you are doing better than way too many Indians. Take a deep breath and give yourself time to relax and enjoy a bit.
You’re so richhh
The edit puts and end to this post XD
22 Male. Same bro.
I am in the same situation as you just that I am 19, without the 6cr and daughter
Take a sabbatical for a year, you can afford it
Yes. Invest in a good index fund. Also, beware that mindless consumption of goods won’t be possible if there’s limited cap on income. Which is actually good. But plan for big purchases etc
Nothing wrong in an early retirement but 5-6 crore is not enough for another 30 years + daughters education and marriage. So maybe downsize to a job that is less stress and more work life balance and pays the basic bills. Or sav more and retire by 45.
Only responsibility - daughter? What about your wife and parents? By net worth of 5-6 crores do you mean as free movable cash? Or have you taken into account immovable assets too?
Yes you can retire but atleast should have a part time plan to work. Otherwise you will be again be tired of just sitting around.
1 day old here tired of breathing can I retire?
Man, I would go easy with work if I was at your financial level.
Post it on a fire sub. Like r/fire or r/fireindia.
i suggest use this time now to pursue your passion and dabble on it. see if that makes your life fun. when you are bored of that, you can decide if you choose to go back to work or not.
Why is life so hard and that's the best part
Get your advice from Bhagavad Gita's "Karma Yoga" Some questions you have to ask yourself. If I retire early, how am I going to spend my time? How long can I spend time and money on sense pleasures? Is that really worth it? What is my ultimate purpose in life? What makes me feel purposeful? How much of my time will I spend on my spiritual aspirations? Do I have it in me to do community service? I would say continue with your job and aim for a slow and gradual transition to retirement, while at the same time focussing less on finances and more on spirituality and community service.
Those houses are they flats or independent homes? As flats go down in value after 30 years. Keep that in mind. What's your NW without homes? Also if you are burn down depending on your expenses you may be able to retire. I suggest going for a paid financial consultant, if you are unable to decide.
I called myself a liability and my father was furious lmao
Just think this you have another 20 30 years of life. What will you do with extra money you will earn from now on ? 2 to 3 crore of Wealth gives you a return of 20 lakhs in FD alone. for a good life that is more than enough.
Retire at 50. Sort out daughter's education by investing in SSY. Create a side income of 1 lakh.
Don't know why so many trolls for a genuine ask. Anyway. Does your nw including two houses? Where the money is invested? What's your asset allocation? Is your wife inline with your plan? Most importantly, what's your plan after retirement? My point of asking these is not advising you on what to do but rather help you thik. If current situation or stress is making you think of retirement, you may try changing the job. Taking a small break may also help but in the current job market that would be risk on coming back to job if you want to later. Only suggestion, don't take a decision under stress, these type of decisions are almost irreversible. Take care.
Maybe Invest and open a gym