How much do you think is enough to retire?

[JambaKrantu]

13 minutes ago, JohnSnow said:

20 years nundi retirement varaku non stop ga 200k salary tho work chesina save avadhu ga 2 million plus. 

The money will stay the same if you put it in a bank account. You put it in a index fund on average it will grow between 6 to 7% every year and will double every 10 years. 

[JambaKrantu]

7 minutes ago, Michaelbarbosa said:

all these at what age ? 

50

[JohnSnow]

Just now, JambaKrantu said:

The money will stay the same if you put it in a bank account. You put it in a index fund on average it will grow between 6 to 7% every year and will double every 10 years. 

Is that index fund guaranteed investments or something volatile like stocks? 

[k2s]

35 minutes ago, JohnSnow said:

To all GC and USC uncles, how much do you think is enough to retire and whats your target 401k? 

I heard that once you go past retirement, they wont cover much of your medical conditions in your insurance and those costs will eat up your 401k.

So are you targeting 2 million? Or you wanna rely on any passive income sources?

To h1b uncles, GC kashtam emo ga, india pothe entha unte settle avvacchu ani feeling?

about $100M in assets and $10M in cash 

[JambaKrantu]

Just now, JohnSnow said:

Is that index fund guaranteed investments or something volatile like stocks? 

It might fluctuate temporarily during recessions but on a long term analysis over the last 50 years you will get between 6 to 7%

[Catalpha]

Just now, JohnSnow said:

Every month medical issues unte rent kattukolem ga

4% of 750k is 30k. This rule is assuming that you will spend 30k per year on rent/mortgage and expenses. But, if the COL living is higher, you can go up to a million, 4% of which is 40k per year that you spend on mortgage and expenses. At market rate, 7% return on investment will ensure that your 750k or 1M is not loosing value, since you're only taking out 4% every year. Ofcourse this is assuming you don't have an extravagant lifestyle, which if you do, forget about retirement. 

[JohnSnow]

6 minutes ago, Catalpha said:

4% of 750k is 30k. This rule is assuming that you will spend 30k per year on rent/mortgage and expenses. But, if the COL living is higher, you can go up to a million, 4% of which is 40k per year that you spend on mortgage and expenses. At market rate, 7% return on investment will ensure that your 750k or 1M is not loosing value, since you're only taking out 4% every year. Ofcourse this is assuming you don't have an extravagant lifestyle, which if you do, forget about retirement. 

[JohnSnow]

7 minutes ago, k2s said:

about $100M in assets and $10M in cash 

750 crores unte MLA avtha ga india lo ikkadem pani. 

[sendral_nakka]

Go home and retire in India Bro

Why live and die in shelter homes here?

1.5-2 lakh per month at retirement will be enough after 20 years if you own your house

[JohnSnow]

Just now, sendral_nakka said:

Go home and retire in India Bro

Why live and die in shelter homes here?

1.5-2 lakh per month at retirement will be enough after 20 years if you own your house

In US or in india?

[sendral_nakka]

Just now, JohnSnow said:

In US or in india?

India

[Michaelbarbosa]

15 minutes ago, JohnSnow said:

investments like? 

i am very bad at stocks, i invest in my personal businesses. anything you can suggest?

Investment as in longterm like you shouldn't be needing them for atleast 10yrs that sorts. 

I did Investment in mutual funds with a conservative portfolio since I was new I didn't want to gamble big, I started as low coz those income that I earn should fund my other hobbies is what I felt. 

I invested on life science and technology mutual funds, I might diversify them so I keep talking to my banking advisor, talk to ppl, recently i learnt that it's not a taboo to not to discuss your finances with your friends or families with clueless show hosted by tanmay bhat of AIB if you have time watch that. 

I might later put that into some business which can generate steady state income for me, with minimal work I am working on that in the background. 

[Michaelbarbosa]

4 minutes ago, sendral_nakka said:

Go home and retire in India Bro

Why live and die in shelter homes here?

1.5-2 lakh per month at retirement will be enough after 20 years if you own your house

agreed, 1-2 lakh but 20 yrs down the lane inflation adjusted what that figure would be ? 

[JohnSnow]

1 minute ago, sendral_nakka said:

India

Thats the plan baa.. Earn while i am young and leave for good without getting in the trap of GC dreams.. 

Already owned home and getting 1 lakh income per month excluding job, Working on it. 

[JohnSnow]

1 minute ago, Michaelbarbosa said:

agreed, 1-2 lakh but 20 yrs down the lane inflation adjusted what that figure would be ? 

Yes thats the thing to worry. 1 lakh in india can be finished in a blink of a second if you are brand conscious and buy a decent clothes for your family that month.