I had done a calculation, where at this age I need around 3.5 Cr to live happily after or to attain the financial independence.
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I had done a calculation, where at this age I need around 3.5 Cr to live happily after or to attain the financial independence.
Just curious, how old are you?
I am 30+
On an average, let's say you are 35. If you are in a Tier 1 city like Bangalore, Bombay or Delhi and would like to continue to live there, I think it will not be enough and even if it is, you will lead a very minimalistic lifestyle. Maybe other smaller Tier 1 cities like Hyderabad or Pune, yes that works. Tier 2 cities, you will be very comfortable!
That's my plan is, to stay in my village when I have that much amount saved. And do online work from the village.
If that's the case with 3.5 Cr you will be a king.
I will live life by King Size if I get that money. But that's not possible before a miracle.
Looks like you are a developer in the Tech Hub Bangalore and also run a website. Shouldn't be that hard to get there? :)
Perfect. My value is also almost similar to what you are saying. I was thinking that I will need 4 crores to attain financial independence. By converting that 4 crores to a regular source of income monthly, I can manage all my expenses and start chasing my dreams.
Yeah but getting to that account is the question. We need that amount in the current value and now if we wait for it for like 10 years we might need almost double of it.
That's exactly my thought as well. My requirement two years back was half that of today. So the requirement is also continuously increasing. In another 5 years down the line. I guess 4 crores may not be sufficient for a full financial independence.
That's correct. Let's see what happens