How to retire in 10 years - A must read to R2I

crazyforger · Post by **crazyforger** » Thu Jun 21, 2018 5:12 pm

I see people buying brand new cars, expensive houses , eating out too often, not clipping coupons, not investing and then when their parents become sick, they want to pack and leave without thinking about their wife and kids.

This is hypocrisy,laziness and stupidity mixed together.

Why don't you think about your parents before you buy stuff. Is a new car or a big house more important than being with them? Are they more important that your family's future?

R2i should be a goal....not a random task that you have to do.
And to achieve that goal, certain lifestyle changes are to be made.
These changes would reduce the expenses and increase happiness at the same time.

This is a must read for people who aren't financially savvy.

http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/

10 years to retire in US.....should be 7 years for retiring in India :)

Unless and until you are able to retire in India, you shouldn't be R2Iing.

Another good blog to read would be
https://www.gocurrycracker.com/start-here/

techynt · Post by **techynt** » Thu Jun 21, 2018 7:14 pm

how About you show, what kind of numbers do you need to retire and how in 10 years?

crazyforger · Post by **crazyforger** » Thu Jun 21, 2018 7:43 pm

techynt;676567how About you show, what kind of numbers do you need to retire and how in 10 years?

If I attempt that, the essence of the post would be lost and there would be discussion about numbers which would overwhelm the average Joe....including me :)

I just keep a substantial safety margin to avoid putting numbers onto spreadsheets :cool

So, lets not make it a numbers discussion although I know that you love it. There have been many other threads where it has already been done.

techynt · Post by **techynt** » Thu Jun 21, 2018 8:03 pm

crazyforger;676570If I attempt that, the essence of the post would be lost and there would be discussion about numbers which would overwhelm the average Joe....including me :)

I just keep a substantial safety margin to avoid putting numbers onto spreadsheets :cool

So, lets not make it a numbers discussion although I know that you love it. There have been many other threads where it has already been done.

well let me attempt to hash out the ludicrous plan of retiring in 10 years.

its easy folks, you need around a million in inheritance and your family income should be around 400-600k, and you go on to save by clipping coupons and driving 10 year old rattling car.... so that you can save around 1.5 millon in 10 years.

crazyforger · Post by **crazyforger** » Thu Jun 21, 2018 8:20 pm

techynt;676571well let me attempt to hash out the ludicrous plan of retiring in 10 years.

its easy folks, you need around a million in inheritance and your family income should be around 400-600k, and you go on to save by clipping coupons and driving 10 year old rattling car.... so that you can save around 1.5 millon in 10 years.

If you only cared to read the blogs that I have posted.....

400-600K at 50% savings alone would be 2 mil- 3 mil in 10 years ...NOT including the investment gains. Are you ok buddy?

Anyways, some people don't want to get it.....its their loss.

@Rest
Don't let people who haven't done it and lost valuable time influence you.
There will be lot of naysayers around you always nudging you in the wrong direction.
Since they can't bear to see anyone succeed. Always trying to make others spend their money.

Hope you don't fall in their trap.

Read the blogs...shouldn't take more than 4-5 hours to get the complete picture.

techynt · Post by **techynt** » Thu Jun 21, 2018 8:37 pm

crazyforger;676573If you only cared to read the blogs that I have posted.....

400-600K at 50% savings alone would be 4 mil- 6 mil in 10 years ...NOT including the investment gains. Are you ok buddy?

Anyways, some people don't want to get it.....its their loss.

you know there is a thing called as taxes, in a state like California you pretty much donate around 45% or more to the government at income of 500k or higher.

if you only cared to share the plan, we won’t be wasting time on basics like taxes

crazyforger · Post by **crazyforger** » Thu Jun 21, 2018 8:41 pm

techynt;676576you know there is a thing called as taxes, in a state like California you pretty much donate around 45% or more to the government at income of 500k or higher.

if you only cared to share the plan, we won’t be wasting time on basics like taxes

Read...
Its an attitude...numbers would follow.

wd40 · Post by **wd40** » Thu Jun 21, 2018 8:46 pm

Your post has 2 parts that can get into huge independent discussions by themselves.
1) when their parents become sick, they want to pack and leave without thinking about their wife and kids.
2) How long you should work and how much you should save.

Regarding the 1st part, this is tough situation. What if one made a few millions and then parents fell sick and then the person has to leave. Even in this situation the person is not thinking about wife and kids. Wife and kids in the example you gave, would never want to get anywhere close to India or the inlaws. So this has nothing to do with money.

techynt · Post by **techynt** » Thu Jun 21, 2018 8:49 pm

crazyforger;676578Read...
Its an attitude...numbers would follow.

That’s all you have to say, and there i was thinking that today is the day when Baba-clipping-coupon will lead us out of darkness and show us how to retire in 10 years..... sigh :cry:... back to reality where normal people with no inheritance, have to work 20-30 years before retirement and not to mention a lot if us have negative inheritance since we have to support parents also since most of them in India don’t have SS payments

crazyforger · Post by **crazyforger** » Thu Jun 21, 2018 8:56 pm

wd40;676579Your post has 2 parts that can get into huge independent discussions by themselves.
1) when their parents become sick, they want to pack and leave without thinking about their wife and kids.
2) How long you should work and how much you should save.

Regarding the 1st part, this is tough situation. What if one made a few millions and then parents fell sick and then the person has to leave. Even in this situation the person is not thinking about wife and kids. Wife and kids in the example you gave, would never want to get anywhere close to India or the inlaws. So this has nothing to do with money.

You are not thinking.....

There are just too many parameters.

Money is an important one.
If you want to R2I but if a middle class life is what is waiting for you in India....no wife would agree.

If you have enough passive income, you don't have to work in India(maybe do some hustling to supplement) and at the same time take care of kids education and parents while living close by.

You don't have to live with them to take care of them.

If you don't have money, you will be working and would be forcing your wife to take care of your parents.