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Hey Fishes
Can anyone share Mutual Fund schemes in their Portfolio?
I am a newbie and planning to start investing via SIP's in MF ( Around 4-5 SIP's of 10k each)
Thanks in advance.
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It's different for everyone, and you can't expect ones FF to be another FF
In my context, FF for me when I don't have to think about money before spending in addition to our mortgage and savings goals.
I felt FF when our household income crossed $400K/year. But then we had a baby and bought a new home (a little more expensive than what we budgeted for). Now I feel our household income needs to double that to make me feel FF again. But then if we have second baby might need a little more. So FF is a flexible number for me and different at different stages of life.
It will look like being able to help anyone anytime financially but never having to ask to be helped because I’m without. That’s being free.
I think the point where I was able to purchase my first Gulfstream G700. I never thought id own a private jet but that tops out as probably the most expensive thing I'll ever own including maintenance and crew.
Define financial freedom. Is that zero debt, you own your house...all retirement access maxed?
At this rate it will never happen 😅 we have ~600k HHI pre equity but cost of childcare for 3 kids is insane. We still live in our starter home (bought for 600k) in order to still have some decent savings and not needing to think too much about our spending
I always thought 10M was the number we need, though in reality it might just be 5
I experienced a financial sigh of relief when I got rid of my consumer debts 5.5 years ago.
I experienced another one when I got 3 months of expenses saved in an emergency fund last month, so I could focus on saving for wants and investing in index funds.
Do I feel like I have financial freedom? Not yet, but I’m celebrating the milestones as I get there.
I don’t have financial freedom, yet. But, I am close. I will hit it in about 8 years. At that point my savings will be making significantly more than the 40% I save from my salary. That means that even if I lose my good paying job I only need something half decent to cover my basic expenses for a few more years until retirement.