Hey folks,
I just posted on the lean_fire India subreddit and the vibe there was that I'm more in the FIRE camp than lean-fire. I'm coming here for a second opinion.
I have a 4 crore corpus and I own a place in a Tier-1 city, so no rent. No wife, no kids. My parents are taken care of and don't need my support. I only have to look after myself. At 37, am I truly in the FIRE zone and not lean-fire?
My situation in the US is getting pretty tough and I'm struggling to find another job, so I'm seriously thinking of moving back to India for good. Do you think my 4 crore is enough to just FIRE here?
I'd really appreciate your thoughts. This is probably the biggest decision of my life, so I don't want to get it wrong. Please help and guide me.
Thanks,
Top Schools
Try living the lifestyle you imagine for a couple of weeks, if you can. Figure out what you'd actually do in India - travel, get fit, volunteer, etc. The more you spend, the faster you dip into your reserves.
Health costs can chew into your capital, so check if you qualify for health insurance. Some medical expenses won't be covered, so it's wise to set aside about 1 Cr as a buffer (a friend of mine needed a lung transplant that cost over 20 L, and ICU bills run into thousands per day). Expect health issues to rise as you get older.
If you're certain you won't have a wife or kids, then yes, you're firmly in the FIRE zone. You can comfortably spend around 1-1.3 L per month on living costs (by today's standards) without worry.
If your parents later depend on you for old-age care, you might need an extra 30-50 k per month or an additional 1-2 crore corpus to stay stress-free.
Bottom line: it all comes down to your lifestyle and expenses. If you can manage on about 1 L per month, you're good to go. For most people, without housing costs and without kids, 1 L per month is enough for a comfortable life.
We're not experts and we don't know your net worth. Your FIRE number is something you decide based on your own expenses.
Generally, a corpus that's 33-35 times your annual spending is considered FIRE-ready.
Make sure you have health and term insurance, and look into a three-bucket investment strategy.
What's your total annual expense, including all insurances, medical costs and anything else?
Your past is clear, but the future is uncertain. What are your plans - marriage, kids, lifestyle, monthly spend? All these matter before anyone can give advice.
Just to give you perspective, if you're fine staying in a smaller town or even a remote village, not marrying, and avoiding a fancy lifestyle, you can do well. It might sound boring, but many people aim for a slow life: a quiet spot, beautiful view and low-cost living.