Consider my age is 30 i have 80 lakhs in savings/ investment...next year it will be touching 1 crore . Can I retire next year with 1 crore corpus...i am not married and don't have a car and don't own home as of now
....also i hate my job i am just doing it because it provides me money i don't know exactly what i want to do after retirement......if you are retired please share your thoughts on this

likesmart
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If you have own house for living. You can retire and lead good life

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If you keep this 1 Cr in FD, at 5% returns post taxes(since you’re retiring), you’ll have ₹5L annually, or roughly ₹40k monthly.

Hope you’ve your own home in village. That might be the best place to retire. Your groceries and other miscellaneous(clothes etc) can be accommodated in ₹20k monthly. Have a medical insurance for self and parents. Add ₹15k for monthly premium. Add another ₹10k monthly as extra.

Do freelancing. It’ll fetch you at least ₹20-30k monthly. You may teach in a school for the same amount. If there’s a college nearby, salary will double. Point is, get a 9-5.

After adding the FD amount to 9-5 earnings and subtracting monthly expenses, reinvest savings in FD to account for inflation.

Assumptions:
1. You don’t marry or have kids in future
2. ₹15k premium a month is enough for health insurance of entire family
3. You want to leave in serenity a.k.a no sudden party plans, foreign tours and the like.
4. You may own a bike, but have to be very careful of owning a car

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Bhai how you managed to collect this much corpus at the age of 30 please through some light

likesmart

Yahi toh baat hai , we always miss the train looking into the past. Even at nifty at 18700+ we still have many undervalued good quality stocks to invest in. In 2021 and 2022 we had a great opportunity to invest all as we had no expenses to pay rent in Shit banglore and it's other expenses.
In 80L which he has comprises both liquid and non-liquid funds

I started working after college, 22.

My first advice to you please don't post / announce it in publicly that you have this much amount. People are too greedy this days. They will keep evil eye on your income and try to grab money from your account by taking money as loan and they will never return this money you will be pennyless soon. Try to stay as simple as possible. don't show off your income or money status. It will be better you can invest and use this money for better cause instead of showing off.

likefunny

True...that's why i haven't told anyone except few people in my life and this anonymous post .

Buddy, first if you don't like your job then either switch or change the profile itself.
Now coming to your actual question. You will have 1cr by next year which is great and you have done great job in saving. But is it really enough? Let's see

In finance world there is rule called 25X rule, which says you can retire with 25 times your yearly expense and this is valid for just next 10,15 or max 20 years. After that you will be start getting the inflation hit.
Now that you are not married, but you will be marrying someday for sure and might plan to have kids as well. If you are not planning these then I think 1cr would be sufficient for you considering 4lac as yearly expense.
Inflation details below, these might be wrong and you can check from official sites.
General inflation 6-8%
Medical inflation 13-15%
Education inflation 15-20%, it can go even higher like 25% or so.

Now I hope you might have got the idea whether 1cr is sufficient for you to retire or not.
First have health insurance and also term insurance for you and your family. So that it can cover medical and other uncertainties.
Second, keep 40% in FD or some annuity scheme which can give your some monthly income and rest 60% invest in gold and stock market.

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I can understand but buddy you have to be realistic as well. If you are getting bored I would suggest to take break for few month. You can go for no pay leave for few months and most of the companies have that facility.
You can also utilize that break to figure out what you are really interested into and figure out to work in that direction.

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Can't comment on your retirement. But going through all the comments, got a lot of knowledge and views around retirement.
Thank you, Folks.

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Same

It takes years to build wealth and seconds to spend it off
You are so young, can do so much in life
Sorry to be blunt but this is foolish

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Bro it is not foolish to think of freedom but if you want financial freedom then 1cr at age of 30 is not sufficient.
If you think it's sufficient then leave your job and just give it a try for 2-3 years. You will get clarity by that time.

Retire and Start a business with your corpus .

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There's an important point which a lot of people might not consider. Taking retirement might not mean permanent retirement. It seems like you need a break from your job and you don't want to stress about taking the next job, thinking of income sources etc.
You can definitely do that with the corpus you have accumulated.

You need to calculate your runway with this amount just like a business. Make some considerations and assumptions: If you get married, maybe your wife will also be earning. Let's say your current expense is 4 LPA. After marriage, it might become 10 LPA. Even then, you have a 10 year runway assuming you don't earn anything else. Taking inflation into account, let's reduce it to 8 years. So you can sit for 8 years and do nothing if you want to. You can reduce it further considering kids, but you get the point.

Another important point is, after taking a break for 6 months/ 1 year or any similar period, you might want to start earning again and at that point of time, these calculations will not be of much use. This amount gives you such a big cushion that you can choose to do absolutely anything at this point of time. Sit back, relax, start a digital business, start a shop/store/restaurant. Sky is the limit!

likeuplifting

For corpus nothing is more and nothing is less because you never know what’s next. There might be expenses coming down the line which I can see in your life are coming like marriage, home and car etc. They are just some of the good things to have and cherish about and are dependent on your needs/life. So, considering these things in your future specifically marriage you cannot think about yourself only. You have to think about her also and share a plan how you are going forward with your carrier. Considering these things you can plan your retirement. Because from that point you will become less you to us. I am not saying this to get yourself down. I am saying this because you will get loads of memories and time will pass like you never could have thought about.
And for the job I would say if you don’t like it then don’t do it but does it really works this way? I don’t think because you have worked till this point. So there must be something because of which you are still working. As per your comment it is money but I don’t see as per your corpus you have spent that much on anything. It seems you are very calculative over your needs. It’s a good thing or best I would say. Start enjoying bro, look for things which help you in getting happiness. Change job if you want to get that but it really depends on you only. There is lot to see in future. Fasten your seat belt let the ride go. Don’t seek retirement yet as you are going to enter to the new era of yours.

2 cents from me 😊🫡

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Thanks man. This is really enlightening... surely will try few things like changing jobs or something which is less stressful going forward...maybe will work few more years in a job which i will like till i get home and car maybe....good thing is since i have runway i can take time to explore things going forward

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Exactly same story I have turning 30 this year, not married, dont own car/bike/house by own as ancestors have already given. I invest alot in plot and shares because doing WFH from last 3 years .. saving/investment are near about 60-65 lakhs..I will have 1 cr by 32. Thinking of starting Business/Startup and will retired if my business income will become more than salary soon. I hate job as well.

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Samdukhi (same pain ) friends :)

Artificial Intelligence Engineer. That explains how you reached this corpus at 30.

Pls share your yoe company teckstack education ( IIT? )

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It looks like you have proven skills in investing and growing money. Take a break for sometime and see how you can make that as a career. For inspiration check out Zerodha founders- kamath brothers stories. Best of luck for future🤞🏻

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Yes. You can retire next year. You can retire and then figure our what next. No hurries.

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Instead of taking retirement you can work voluntarily or take any part time job to beat the inflation rates. If you take retirement people will think you have a lot of money and they will try to take it out from you. Think practically and be safe.

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In today's world we need to think beyond groceries and all. Like mobile recharge internet bills, emergency tools and gadgets this things will have high demands.

Save money.

Take a break for a year from work. Avoid alcohol, or anything that is pleasure that is not a physical activity.

Take full break for a month, laze around, try yoga, try to get your childhood happiness back.

After a month, go try something for yourself that you wished to do since a long time. Like going on a trip, trying a hobby, buying that motorcycle. Do it for next 2 months.

Next 3 months, start working somewhere which is bang opposite to what you did earlier, but something that you wished to do. Or just continue with your hobby.

Last 6 months, start working in something that excites you or plan a start-up. Salary should not be a concern.

After the end of one year, if you feel your new job will work well, stay there, or you can always come back to your previous job considering you already had experience of around 6-8 years into that.

PS: Don't spend everything.

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No you cannot.. I thought the same when I touched 1 cr at 27 with home loan cleared.. but then I got married and my expenses increased exponentially.. plus you need steady cash flow each month to sustain your lifestyle.. to answer your question in short 80 lacs is not enough even for one person at 30 years of age, and if you are married and thinking of retirement, you should have cash flow from other sources to meet your expenses

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:D Man enjoy your life with 1cr, it's more than sufficient when you are moving to tier 2 city. Baki gyani purush to jeevan bhar gyan dete rahenge khud job karni hai lifetime and baki ko v yahi recommend karna hai... kisi ne nahi dekha ki 90 sal jiyoge... aj kal life maximum 50-55 hai bas.

Fd kar do 1 cr ka 60k per month intrest ayega... baki frelancing kar lo 1-2 ghante bahut hai

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Baki bache v pad jayenge shadi v kar lo itna load mat lo... tier 2 city me sabse ache school ki fee max 10000/month hai

Baki kitna kha loge sab kuch mila kar 10k me ho jata hai ghar me

Fir v 30k har hal me bachega, reinvest if possible.

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I am 31 and I have 20L debt. 😒

uplifting

I started my career very late at 30.

32 approaching 33 (Single, no debts, no cars), 40L consolidated savings/investment so far. Let's see how it goes I'm not keen to retire early as I love technology and programming.

It will never be enough for me to work with newest gigs, building apps, enhancing them etc.

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