dpkmjn2012

have a 15 years horizon ? ? ? Sorry I dont get it

dpkmjn2012

I read somewhere this and find useful in this discussion -

Thousands of people miss the obvious in this shloka. The word "phal" means "fruit", which denotes consequences, NOT goals! Nowhere does Shri Krishna imply that you should be aimless; on the contrary, your aim is SUPPOSED to be your "dharma".. or "duty". You may have goals, plans, actions; you may become extremely skilled and/or resourceful; you may be dedicated to a career - all that is normal. Arjun was the BEST warrior in the world!

ALL SHRI KRISHNA IS SAYING IS, you do not have an automatic RIGHT to EXPECT a certain result!!! There are other forces at work in this universe. Don't worry about them! Do your duty!! Let the chips fall where they may!!!! Whether you get what you want or you don't, it's all Krishna's will.. you don't need to get emotionally wrapped up around it.

sheeshu

It means I am seeking financial independence after 15 years , in other words , I want to be where I dont have to work just to earn money.

investgreat

Well depends upon your current age. Most people would plan for 5 and at most 10 years horizon (btw, I am planning on 3 years). 15 sounds a little bit high, but again, if you are 25-30, then 15 years means 40-45, so thats possible and is n't that bad.

manu813

Great thread.. I have been planning to retire at the age of 40 (7 more years to go ).. My thought process is to create some assets which can give rental returns .. If one has debt free house then I think 1 lakh per month should be enough to retire ..your property rentals will also increase with inflation so it will cover you there... Along with this I am actively seeking some passive business idea which can be started along.. I am closely watching this space.. Hopefully get some good ideas..

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Even if you're on the right track, you'll get run over if you just sit there.

dpkmjn2012

YES I was also thinking on that fashion . .. if you are 25 then 15 yeras is a good enough to plan . . . .investgreat .. I am planning on 2 yeras . . . .:-) me in early 30s

zorin111

Exactly...

You should only do your duty ... Because that is all that is in your hands. The end result is not in your hands, or you are not the cause of end result. Therefore you should not feel happy if you pass or sad if you fail. You have worked hard for the whole of the year and taken exams, thats all that matters. Whether you pass or fail, that was not caused by you, therefore you have no right over the consequences.

That is why Brothers fought against brothers, and some were also killed. Did they get into guilty mode that they have killed their brother... No... Because they were just doing their duty

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If it was easy, everybody would be doing it.

sheeshu

Only 2 years ? .. You must have a good plan in place already? What is it?

dpkmjn2012

Sheeshu,

I would suggest you to not follow anyone’s plans as all have a equal possibility of win and lose.
I am not able to share my plan (As it is not very superb or exciting-believe me), moreover, I am little eccentric and keep experimenting most of the times which obviously bring many pleasant and un-pleasant surprises.

In cut short – I want to push my family in a zone where their daily needs are fulfilled and my child is having REASONABLE recourses to perform, rest is GOD.

I myself, would keep earning J , may be not like today, as I would lead my passion and will work for that with someone who can even pay me the survival amount , So you could say it is not a typical retirement plan coz I would be working. In fact I doubt what people refer when the say retirement as I feel you just need to know your goal before it is too late.

Yes, I worked and working on having very specific basic needs (Believe me I am not compromising) and I find many things are not that costly if you know your actual needs, having said that you should have not any EMIs to pay and having reasonable investments and assets for future.

So my theory is to work both sides, make assets and keep eliminating your false needs.

vivhunter

Hi, I am an NRI and living abroad for almost 10 yrs now. Targetting to retire by 42-43(6-7 yrs to go). When planning early retirement I would first suggest to look at what responsibilites you have and how much liability is there then target accordingly.

I am trying to do following :
(1) Buying 20gms gold every year (atleast till I retire)
This will greatly help as its most liquid in nature, and if you have child then cost of his/her marriage goes down drastically in future with accumulated gold
(2) Buy property with reputed developer , first property should be with an aim of your family living so kind of decent size and location
(3) Buy second property in a location which has good upside potential in future and is relatively cheap, this will be a good hedge for your child education e.g. studying abroad
(4) If you have extra cash say 50Lacs and you need 40K per month for living expenses divide that as below:
60months x 40000 = 24Lacs
Put rest in FD i.e. 26Lacs 11% you get 52Lacs in 6.54 years [ Rule of 72 , that says divide 72/(interest rate) to know how long it will take to double the amount]
This method helps to some extend to cover monthly expenses at the same time you grow the money ensuring you maintain liquidity in case of emergency
(5) Create an SIP which should include 5 to 10 stocks to top companies of each sector and do monthly investment [ sometimes equity gives far more return then other asset classes but in long time]
(6) Buy commercial space if you can afford to get good rental yield and appreciation.

Other tips :
- Folks with less age should think about regular savings(in FD) which has far more compounding effect
- Pick funds to get exposure to any of the asset class there are multiple varities present

Above all note 1 think which Mr Buffet says "Price of anything is the cost of hedge" , in our context it means that
- Cover your life by insurance (pure insurance is cheaper)
- Ensure your property is insured as well with self and third party

cheers
Viks