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hey folks, I am going to join Oracle ossi in Hyderabad location. I have never been to Hyderabad, and will be relocating. Please guide on what would be good areas to look for rent. Also, what would be rent like for 2/3 bhk. Ideally my budget for rent would be <25k. Initially I will be going but in future my family will join me once I am settled. Any points to note or any other gotcha to keep in mind ? Please suggest.
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Yes
How would we know the answer if you're not telling us your savings rate?
This plus what do you expect you savings to grow at? I feel like there's info missing???
So wife will continue to work at 80k / yr until 65 and we save about 50k a year from the 200k gross HHI
120k is in a brokerage account and 100k is in home equity while rest is in our employee sponsored retirement accounts
Is she okay working while you are “retired”?
Mentor
How much is retirement and how much is brokerage? Ability to retire also depends on age.
I’d say no, if you don’t have enough to bridge you from “retirement” to 62+
Is it fair to say that while home equity is part of NW, it shouldn’t be factored as part of the 2.5 for retirement? Planning to live in the house is good, but having an owned house is not required. Shouldn’t be counted if they need the 100k from 2.5 for other expenses?
What is the x axis? Months?
Dates in January (eg Jan 21st, 22nd, etc.)
You would need a pretty high return to be able to do it in 9 years based in the information you provided. You can put all of these factors into a compound interest calculator and see for yourself. The alternative is just to save more because 9 years is very aggressive
Invest 60-65% of your income at least and don’t make large errors and invest with some risk and there is a pretty good chance.
Yes, if you are saving $10k per month or $120k per year it should be easy...anything less and you have to rely on very good execution of a very good plan and achieve very good returns. Although this may just be a function of my assuming that you may need more to retire with a similar lifestyle than the $2.5M...but that depends on age, other sources of income, etc
What app is this that you’re using
https://share.personalcapital.com/x/kKu7zQ
So... any help to the original question? My savings rate will grow with inflation but nothing more drastic if that helps
Definitely doable. I went from ~$200k net worth 8 years ago to ~$3.5M today. Averaged around a $350k household income and probably around a 50-60% savings rate. I’ve been fully invested in index tracking mutual funds and a couple of properties.
Aggressive...Assuming the 400k is in stocks and 10% annual return, you’d need to invest about $8500/month across all accounts to get to $2.5m in 9 years.
In other words, no. You’d need to have it all in stocks, luck out terribly in the market, and invest 102k per year, which won’t leave you much after taxes and healthcare, if anything. You need more income.