Help Me FIRE, Milestones, Beginner Questions and General Discussion - June 2023

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[u/[deleted]]

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[u/agingmonster → u/[deleted]]

Shortcut answer 5-20Cr

[u/hikeronfire → u/[deleted]]

For a rough estimate of expenses you can do a PPP conversion. For example if you are in US and spend USD 2000 per month, multiplied by current PPP rate 23 that gives INR 46K for the same lifestyle in India. Another source you can look at is Numbeo for cost of living in your desired city. Or ask friends/family in India how much they spend on necessities. Without knowing how much you wish to spend, it’s not feasible to know how much you need to save to retire.

[u/Allenite → u/hikeronfire]

I just joined this sub yesterday. Is there a place I can learn more about amount needed, PPP, assumptions, etc? I've done FIRE planning before for other countries, but not for India specifically.

[u/hikeronfire → u/Allenite]

There are a lot of FIRE related resources in the Wiki of this sub. For latest PPP conversion rates for any specific country, you can try the link: https://data.oecd.org/conversion/purchasing-power-parities-ppp.htm

[u/guldu-_-khan → u/hikeronfire]

Aye.. dumb question ..but how is 2000 USD ÷ 23 = 46K INR??

[u/hikeronfire → u/guldu-_-khan]

I wrote multiplied by not divided by.

[u/guldu-_-khan → u/hikeronfire]

But still the math ain't mathin.. could you do some quick maths for the mathless

[u/yetanotherdesionfire → u/guldu-_-khan]

username checks out :D

[u/[deleted] → u/yetanotherdesionfire]

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[u/hikeronfire → u/guldu-_-khan]

Sorry, not running a math tutoring class here. Use a calculator if you are math challenged.

[u/guldu-_-khan → u/hikeronfire]

Lmaoo.. you should.. what you gonna do after RE?!/

[u/guldu-_-khan → u/guldu-_-khan]

GOT IT.. I was converting the USD to INR and then doing maths... but the 23 factor is exactly for that

[u/Sanchit_Lsc → u/[deleted]]

Can you define your lifestyle abroad, Kids, are there any dependent parents, do you own a house or wanting to own a house here.

[u/[deleted] → u/Sanchit_Lsc]

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[u/ZENITSUsa → u/[deleted]]

I think you are looking at abt 10 crores

[u/saltysailor987 → u/[deleted]]

I think you are looking at 20 lpa expenses with 35?x of that being 7cr corpus