I retired last year at 51, funnily enough I also live in Thailand, and have a LTR visa. It's amazing that people believe they have to work to keep from getting bored. The question I get asked all the time is, what do you do with you time? how do you spend your day? don't you get bored? I never get bored; I don't have to work to feel fulfilled. I travel. I read, I do what I want to do, rather than what I have to do. Life is wonderful.
Oh cool you are also on LTR here! Let’s meet up over a coffee or a beet sometime!! Unfortunately the corporate world has brainwashed so many that life is work and work is life. So it becomes even more important for folks like you and us to shine the light on the other side.
I am 27 yrs old, I started investing from 24 age Before starting investing i tasted showoff life and very early accepted its complete waste of time rather focus on building wealth. Today my corpus is 52 lkhs and I am expecting it to be 57 lkhs by end of 2024 Having this number back of my mind, i feel very confident at my work and mentally too. Goal is to hit 8-10 Cr and retire early. Thank you for sharing your valuable knowledge sir 🙏 I got validation that i am on right track in life 🙂
Awesome that you already ave built a corpus of 52lacs by the age of 27! See it grow and multiple with the power of compounding over the next few decades. Continue with the right investment habits, accelerate your career and I am confident you will hit your desired goal of 8-10cr.
@@poorna.c Initially I started with 6k gradually as my salary increased, now my SIP amount is 45k but I also invest extra money, intotal for a month i invest around 70-80k monthly For this amount you should have firstly control on yourslef, i do not live anymore to impress other, its just me n my goals 🙂 As I am in sales job I have previlage for incentives which I dont keep with me, I invest it. I have split in my corpus as per my personal goals - mutual funds (index, mid, small cap), liquid funds for my short term goals, direct stocks, US stocks, ELSS, 3-5%crypto 🙂 Hope this helps you 🙂
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has done so.
I think people do all such planning but they never share their ideas with ours,but you are well read ,well trained human being,I mean both of you ,.it certainly helped people who are already around your age,I loved your ideas,very well put,❤❤❤ thankyou
Sir,I watch all your videos....Enhancing financial education and simplifying FIRE for us indians..Your work is commendable Your channel will soon be popular Sir...All the very best and keep guiding us..Looking forward to many more great insightful videos
Mr. Yogi, Thank you for your insightful explanation. I completely agree that money buys freedom and is a crucial enabler for a happier life. Based your experience, I would like your thoughts on the following analysis and figures: Required Corpus as of January 1, 2024: Approximately ₹12 crores to 15 Crores Assumptions: (1) Current Age: 60 years (2) Life Expectancy: 30 more years (3) Inflation Rate: 7% per annum (4) Post-Tax Return Rate: 4.9% per annum (5) Current Monthly Expenses: ₹200,000 (6) Spouse's Current Age: 55 years (7) Spouse's Life Expectancy: 35 more years (8) Both Husband & wife aim to ensure an equivalent of ₹2 lakhs per month (in today's value) for the next 30 to 35 years. (9) No other major financial commitments for next 30 to 35 years (10) Adequate Health Insurance and Term Insurance are part of the said monthly expenses. Looking forward to your feedback on these projections.
Thanks for sharing the information. Is the 12Cr the required corpus or your current corpus? If current corpus and your current age is 60yrs then you are more than covered with your desired expenses! Interestingly, at your current age of 60 and te desired monthly expenses of 2lacs (24lacs per annum), you should be more than ok with any corpus more than 7-9Cr (excluding your primary residence). Suggest to watch our videos on Sequence of Returns (ua-cam.com/video/BeLuTnepAI0/v-deo.html) and Bucket Strategy (ua-cam.com/video/IduWlfYQkZg/v-deo.html). Both these are important to regulate your corpus in the right investments.
Dear Yogi,you are a very good person and very good consolidated speaker. Many people take lots of time to explain things. Can you teach my son online?🙏
This is perhaps the first time im ever commenting on a UA-cam video ever. Everything u say here resonates so strongly with me and what I have been trying to achieve and in the process of achieving. I also have found that in this journey of Financial independence there are things that you do based off of instict and logic and then when u trun around u realise what you were doing and a bigger picture of self-discovery unravels. Wondering if some of the things you understand now and see now are learnings/concepts developed in hindsight ?
Thanks for your comment and glad the messages resonate strongly with you. Most of the things that we understand now were serendipity or hindsight realisations. We embarked on our journey with very limited resources - not just knowledge but also financial. So had to stumble and learn most of the stuff and have those aha moments much later during the journey. Hopefully these videos will help others to be much better prepared.
Mutual Funds and Index Funds are definitely the best way of investments - provide the perfect balance between growth, diversification, risk and accessibility. Thanks for the appreciation! Do subscribe and also share the channel within your network.
I really loved your content. Thanks for sharing. Pls explain how investment income or rental income from countries like India or the USA is taxed if you choose to reside in low-tax jurisdictions like Dubai or Singapore? In your case thailand, Is it possible to benefit from the lower tax rates of these countries for such income?
Thanks for the appreciation. Do subscribe! You can't really avoid taxes but can only try to minimise or optimise. Your income income in India and the US would be subject to local taxes there. You will have to file ITR in India on the local income even if an NRI and US will subject all dividends etc with withholding taxes. The benefits of living in a place like Dubai, Singapore or Thailand etc is that it opens the possibilities of ... 1. Holding assets in low tax countries (e.g. a property in Dubai, ETFs domiciled in Ireland, funds out of Singapore etc) 2. US: You only pay dividend withholding taxes in the US for your US investments and not capital gains 3. India: If distributed well, you maybe fall within a lower income threshold on just your local investments in India and thus a lower tax 4. On a long run you can change from a passive income strategy to a corpus withdrawal strategy this benefitting further from the above. These are examples based on just our understanding. Best to consult a tax expert who maybe able to guide better and correctly.
We don't have kids. But financially it didn't make much of a difference as we funded the education of our nieces, nephews and also run a school in our village.
It's a pretty subjective question and based on their own circumstances. For some, 2 crores are enough, and for some people, even 15 crores are not ENOUGH. 😄
@@gurpreetkakkar Thanks for the comment Gurpreet. We make these videos to raise financial awareness and share our experience. Interestingly, the videos (editing, posting etc) cost us money rather than bring money :-)
I retired last year at 51, funnily enough I also live in Thailand, and have a LTR visa. It's amazing that people believe they have to work to keep from getting bored. The question I get asked all the time is, what do you do with you time? how do you spend your day? don't you get bored?
I never get bored; I don't have to work to feel fulfilled. I travel. I read, I do what I want to do, rather than what I have to do. Life is wonderful.
Oh cool you are also on LTR here! Let’s meet up over a coffee or a beet sometime!!
Unfortunately the corporate world has brainwashed so many that life is work and work is life. So it becomes even more important for folks like you and us to shine the light on the other side.
I am 27 yrs old, I started investing from 24 age
Before starting investing i tasted showoff life and very early accepted its complete waste of time rather focus on building wealth.
Today my corpus is 52 lkhs and I am expecting it to be 57 lkhs by end of 2024
Having this number back of my mind, i feel very confident at my work and mentally too.
Goal is to hit 8-10 Cr and retire early.
Thank you for sharing your valuable knowledge sir 🙏
I got validation that i am on right track in life 🙂
Awesome that you already ave built a corpus of 52lacs by the age of 27! See it grow and multiple with the power of compounding over the next few decades. Continue with the right investment habits, accelerate your career and I am confident you will hit your desired goal of 8-10cr.
@@TheFIREdCouple Absolutely sir 🙂
Once again Thank you sir 🙏
@@poorna.c Initially I started with 6k gradually as my salary increased, now my SIP amount is 45k but I also invest extra money, intotal for a month i invest around 70-80k monthly
For this amount you should have firstly control on yourslef, i do not live anymore to impress other, its just me n my goals 🙂
As I am in sales job I have previlage for incentives which I dont keep with me, I invest it.
I have split in my corpus as per my personal goals - mutual funds (index, mid, small cap), liquid funds for my short term goals, direct stocks, US stocks, ELSS, 3-5%crypto 🙂
Hope this helps you 🙂
Try coast fire
True that ...
The main goal to have a big corpus is to feel confident mentally & at work
Then you have nothing to loose
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has done so.
Amazing advice, those seeing around beginning of career must consider themselves extremely lucky!!
Absolutely! Simple changes can make big differences.
I think people do all such planning but they never share their ideas with ours,but you are well read ,well trained human being,I mean both of you ,.it certainly helped people who are already around your age,I loved your ideas,very well put,❤❤❤ thankyou
So nice of you and thanks for the appreciation 🙏🏽
Sound great , without any smoothing or overhype on the markets.... Thanka a lot sir
So nice of you. Thanks for the feedback.
Sir have been a subscriber and always await these nuggets of financial wisdom. Keep up the good work 👍
Awesome, thank you!
Happy to see the growth of your channel :)
Thank you! Also thanks for all the inputs you gave us during our conversation.
Please do share with your broader network ... and also subscribe ;-)
Sir,I watch all your videos....Enhancing financial education and simplifying FIRE for us indians..Your work is commendable
Your channel will soon be popular Sir...All the very best and keep guiding us..Looking forward to many more great insightful videos
Thanks for the encouragement. Trying our little bit to share the knowledge that we gained by stumbling and learning over the years.
Very honest and practical video, thank you for the video
Thanks for the feedback. Glad it was helpful. Do subscribe.
Super stuff! Subscribed. Definitely a high value video.
Awesome, thank you!
Mr. Yogi,
Thank you for your insightful explanation. I completely agree that money buys freedom and is a crucial enabler for a happier life.
Based your experience, I would like your thoughts on the following analysis and figures:
Required Corpus as of January 1, 2024: Approximately ₹12 crores to 15 Crores
Assumptions:
(1) Current Age: 60 years
(2) Life Expectancy: 30 more years
(3) Inflation Rate: 7% per annum
(4) Post-Tax Return Rate: 4.9% per annum
(5) Current Monthly Expenses: ₹200,000
(6) Spouse's Current Age: 55 years
(7) Spouse's Life Expectancy: 35 more years
(8) Both Husband & wife aim to ensure an equivalent of ₹2 lakhs per month (in today's value) for the next 30 to 35 years.
(9) No other major financial commitments for next 30 to 35 years
(10) Adequate Health Insurance and Term Insurance are part of the said monthly expenses.
Looking forward to your feedback on these projections.
Thanks for sharing the information. Is the 12Cr the required corpus or your current corpus? If current corpus and your current age is 60yrs then you are more than covered with your desired expenses!
Interestingly, at your current age of 60 and te desired monthly expenses of 2lacs (24lacs per annum), you should be more than ok with any corpus more than 7-9Cr (excluding your primary residence).
Suggest to watch our videos on Sequence of Returns (ua-cam.com/video/BeLuTnepAI0/v-deo.html) and Bucket Strategy (ua-cam.com/video/IduWlfYQkZg/v-deo.html). Both these are important to regulate your corpus in the right investments.
Dear Yogi,you are a very good person and very good consolidated speaker.
Many people take lots of time to explain things.
Can you teach my son online?🙏
Thanks for the appreciation. How old is your son?
@@TheFIREdCouple He is 9 years old and in class four.
I wish i were 15 years younger to watch your video..
I missed the bus......
This is perhaps the first time im ever commenting on a UA-cam video ever. Everything u say here resonates so strongly with me and what I have been trying to achieve and in the process of achieving. I also have found that in this journey of Financial independence there are things that you do based off of instict and logic and then when u trun around u realise what you were doing and a bigger picture of self-discovery unravels. Wondering if some of the things you understand now and see now are learnings/concepts developed in hindsight ?
Thanks for your comment and glad the messages resonate strongly with you. Most of the things that we understand now were serendipity or hindsight realisations. We embarked on our journey with very limited resources - not just knowledge but also financial. So had to stumble and learn most of the stuff and have those aha moments much later during the journey. Hopefully these videos will help others to be much better prepared.
@@TheFIREdCouple love it ! Keep 'em coming !!
Thanks. Do subscribe and also share the channel with your network!
It’s always good to see your videos. What do you suggest on Mutual Fund ? It can compound money in 10-12 years.
Mutual Funds and Index Funds are definitely the best way of investments - provide the perfect balance between growth, diversification, risk and accessibility.
Thanks for the appreciation! Do subscribe and also share the channel within your network.
I really loved your content. Thanks for sharing. Pls explain how investment income or rental income from countries like India or the USA is taxed if you choose to reside in low-tax jurisdictions like Dubai or Singapore? In your case thailand, Is it possible to benefit from the lower tax rates of these countries for such income?
Thanks for the appreciation. Do subscribe!
You can't really avoid taxes but can only try to minimise or optimise. Your income income in India and the US would be subject to local taxes there. You will have to file ITR in India on the local income even if an NRI and US will subject all dividends etc with withholding taxes.
The benefits of living in a place like Dubai, Singapore or Thailand etc is that it opens the possibilities of ...
1. Holding assets in low tax countries (e.g. a property in Dubai, ETFs domiciled in Ireland, funds out of Singapore etc)
2. US: You only pay dividend withholding taxes in the US for your US investments and not capital gains
3. India: If distributed well, you maybe fall within a lower income threshold on just your local investments in India and thus a lower tax
4. On a long run you can change from a passive income strategy to a corpus withdrawal strategy this benefitting further from the above.
These are examples based on just our understanding. Best to consult a tax expert who maybe able to guide better and correctly.
Great tip at what multiple of your expenses did you achieve FI?
Thanks.
>35x
Just wanted to know, you guys planned this childfree life or fortunately became childfree?
We planned this childfree life. Will be doing a video soon on the rationale behind the decision and the impact of it - both positive and negative.
Do u have kids? How did that influence your path?
We don't have kids. But financially it didn't make much of a difference as we funded the education of our nieces, nephews and also run a school in our village.
How much was the net worth wen u decide to retire
It's a pretty subjective question and based on their own circumstances. For some, 2 crores are enough, and for some people, even 15 crores are not ENOUGH. 😄
Spot on! The first lesson in this video is also - Investments are 80% habits and 20% numbers!
@@TheFIREdCoupleif you have good money, why are you making youtube vedios? There are more than enough young folks already in this.
@@gurpreetkakkar Thanks for the comment Gurpreet. We make these videos to raise financial awareness and share our experience. Interestingly, the videos (editing, posting etc) cost us money rather than bring money :-)
@@TheFIREdCouple cool all the best. Saw you on wintwealth
Great knowledge 📚 but why fake accent?
Thanks for the appreciation but can’t do much with the accent. It is what it is after living more than 2 decades in different parts of the world
@@TheFIREdCouple ohhh
Hope the content is useful