Here is how the Rs.10 and Rs.13 increase in excise duty on Petrol and Diesel will impact you. You will pay almost the same, but still suffer indirectly
Abhi
Here's how I calculated my FIRE retirement corpus target of Rs.5 Crores! I've added an excel sheet to show the numbers and my expenses at retirement.
Here's my update from April'20 on investments and FIRE. I have achieved 3% of my Rs.5 Crore target! Still a long way to go and only 138 months left!
Here is more information on the FIRE movement, different types of FIRE such as FAT and LEAN FIRE. There's also some motivation for you from Nelson Mandela!
It's 180 days since I started my FIRE journey,here's some updates on Corona virus lock down,how my daughter brings joy &happiness and a bit on investments
Start saving right now with these 7 easy steps that will increase the value of your money and make make your hard earned money work harder for you
Introduction to Little Saves podcast on Personal finance, what I will be covering and what you will be able to learn on finance, FIRE, money, savings etc
CRED now has a Rentpay feature that allows you to pay rent with your credit card. Here's my review of it, benefits and disadvantages and how you can do it
Here are 5 different strategies to reduce debt and a debt reduction plan you can use to systematically bring down your loans and find Financial Happiness.
A salary of Rs.30,000 is enough to FIRE. Here's an example (with excel calculator) of a 27yr old Hero in India on journey to FIRE by age 49 with low salary
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Hi Navender, the monthly Rs.2692 mentioned here is an example and this varies from deal to deal. The actual monthly payout will include part of the principle and interest and will be varying per year. Here is an example of a monthly schedule attached. In my example in the article I missed clarifying the different monthly payouts, hence removing this to avoid any confusions. When you invest with Gripinvest, they have a payment schedule and this can be seen for all the assets at the time of subscribing.
Hi, there are two possible reasons for this. 1.) If you are using a VPN or a proxy of some sort or you are using your office laptop that uses a proxy by default this can happen. 2.) There is an issue with the Honeygain server. If this is the case it usually gets back to normal in a couple of hours. By all means, avoid a proxy or VPN as it will get you banned.
The returns are tax free as the tax is deducted before it is paid out to the investor. So to be clear, the returns are not tax free, just that the investor need not pay tax on it as the LLC will have already paid the tax.
I was not aware of Grip invest. Thanks for pointing it out to me. It does look interesting. However keep in mind that the return they are promising is IRR not ROI. So net-net, you are looking at a return of about 12%. Now, from that they deduct taxes. So the final return is working out to be 7.7% pa. Most of my investments provide a lot more in terms of return. It is still worth exploring from a diversification perspective. Let me check out Grip and speak about it.
Hi Agnishwar. Thank you for your kind words and encouragement 🙂 Yes, I shall do my best to reach for the tough goal and continue posting on my learnings. And yes, more time with wife and daughter. They are the most important in my life!
Hey Srinath,
I have had small (about 1K) crypto holding for a long time. But only after I started my FIRE journey, as a mean for diversification I added a small part about Rs.31,000 into crypto assets. So when I decided to buy bitcoins, it was pretty difficult. At that time, Indian banks will not allow you buy (your card will just get declined). Now I think they do allow.
Anyhow, when I bought, I bought BTC through Paxful. It is a mediator site (Localbitcoins is another I have used in the past) that allows for members to trade. I paid a hefty commission. I use Blockchain.com as my wallet. I have several others, but prefer these guys due to security and smooth interface.
But you need not do those now, I bought my holding over a year back. Now regulations are more relaxed and there are a couple of Indian crypto vendors who allow you to buy in INR.
Regards,
Abhi
Thanks Sumit 🙂
True, but this trend is changing as more youngsters are seeing the merit in saving up.
Best of luck with your goals too!!!
Hi Subbu,Thanks 🙂 actually Amex Gold cards do have a fee waiver, but they dont publicly say it. Nor do they tell us how much should be spent to be eligible for the waiver. I use them for about 1.2 Lakhs a year. And for that they have given me 75% fee waiver for the past two years.
Hi Ankur,
Thanks :). Yes, 4-5 asset classes will be where most savings will be invested in ultimately. It is just 11 months since I began my FIRE journey(before which I did not have much savings or knowledge on this area), and my total savings is not too great. So I am experimenting with different options and seeing what works. Eventually, I will start investing in a concentrated of asset classes for the long term. Best of luck with achieving your goals!!!
Nope, I have not developed a system yet. I am just starting off, so learning as I go. As of now, I am trying to just keep accumulating and re-balance when required.
Hi Subbu,
Thanks! Yes, I try to stick to small cap stocks that are great companies and give consistent dividends. My average dividend rate from the stocks I currently hold is about 3%. This gives a small stream of passive income as cash and also compensates for inflation to an extent.
Large caps too provide great dividends, but somehow the dividend paid to value of stock is not satisfactory to me.
I follow fijourney.in and see that you are mostly in the Largecap camp 😀
Hey, yes, Mintos does not allow any longer. I have been with them from way before when they launched. At that time there was no country restriction. Several other readers had mentioned they were not able to sign up any more too. You can explore other P2P platforms or wait for Mintos to expand and add more countries. Alternate option is if you have “trusted” relatives in the supported countries, then they could front you.
Hey. If you are fired, or even if you move to a different company, you will have two options.
1.) Take over the loan, so instead of the monthly payment being deducted from your salary, it will then become a car loan which you need to pay.
2.) If your new employer, in case you are moving to a new company and not getting fired supports CLV then you can try to move the company lease vehicle to the new company.
Alternately, if you wish to pay off the remaining due in full and take over the car or sell the car, you can do that too.