r/leanFIRE_India

Hey guys,

I recently got my PR in Canada(24M) and want to start investing for my future. My goal is to achieve FIRE and hopefully retire in my 30s.

I'm new to investing and can save around $1,500 CAD every month.

I need some advice:

• Should I invest more in India or Canada?
• Where should I invest my money as a beginner?
• How should I divide my $1,500 monthly savings?
• Is retiring in my 30s a realistic goal?

I'm still learning about investing and honestly don't know where to start.

Please feel free to share any advice, even if it's something basic. Consider me your little brother and guide me in the right direction. I'm open to all suggestions and want to learn from people with more experience.

If you were in my position, what would you do?

Thanks in advance! ❤️

Well, I have had a fairly eventful life journey. 45 year old male, now living with parents, in own house in a tier 2 city in india. No car or 2 wheelers, my.only current possession is a cycle. Spent 10 years abroad and moved back to india. Total corporate experience close to 2 decades ! Went through a significant health issue in a relatively young age followed by a messy divorce during covid - 2020 times ! So have seen a lot ! Paid alimony willingly as I had kids and felt obligated to do so ! Gradually became disillusioned with corporate life and decided to take time off and focus on both physical and mental health. Post alimony , had to start from.zero but by gods grace, never had debt.

2.5 cr in fixed deposits

1 cr equity mutual fund portfolio.

50 lakh - Bonds

25 lakh - provident fund

90 lakh - locked in abroad pension fund (Till I reach 60).

Although I think I am sorted, but sometimes do feel if this will be enough ? Or sometimes, get a thought of going back to rat race, although I have seen first hand how unhappy everyone is running that race ! Thanks for reading.

A little about me:

- Salary - after recent hike 17LPA, monthly around 1.1LPM (post Tax, ESPP and PF deductions)
- Started earning in 2018 with 1.80LPA
- Currently in a non-technical role but in a big company, limited growth, tough competition for promotions
- Frugal lifestyle
- Dependent parents in hometown staying in a 25 year old flat, which I bought on loan as a poor decision 5 years back and it’s still worth the same around 20 lakhs.
- Father earns a modest amount 12k per month and it’s mostly used in my parents expenses for now, I contribute to their expenses irregularly, around 5k monthly.
- Father might retire anytime so I would take their expenses on me for calculations. There are no saving on their part.
- No other property - Major worry
- Started from scratch, no family assets or properties
- No emergency fund or insurance yet apart from my health insurance from the office, invested most of the idle money in the equity during the current market fall

Monthly commitments:

- EMI for the above home loan 20k, thinking to close it by the year end.
- I stay alone in Tier 1 city - 18k rent
- Approximate expenditure of both the household - 25k
- Mutual fund SIPs 35k (recently increased from 15k)
- 10k ESPP (outside of in hand salary)
- Random Indian stocks purchase

Current assets worth:

- Indian Stocks - current worth 20 lakhs, started the portfolio post covid and currently shows only 25 percent returns due to the market
- Mutual funds (Midcap, Smallcap, flexicap, index funds - current worth 20 lakhs
- US Stocks (ESPP & RSU) - current worth 20 lakhs
- PF- 11 lakhs

Questions:

- Need honest review on my financial situation and what can I so better?
- Is the salary enough, low or average? I understand it’s never enough but I just want to know if I just keep going with this salary with 5-7% annual hike, is it enough for life?
- What should I do about property? It’s a big decision which I am not able to take. Whether I should I buy a plot or a flat or just stay on rent. But then I am scared how the rents could be inflated in future. If I should get into it, how much should I first have for downpayment, I believe the downpayment will mostly be possible after selling all my stocks and mutual funds. But then also scared of taking any loans due to layoffs everywhere
- Considering my current financial condition, when do you think I can retire comfortably. I haven’t thought of a figure but seems like I should aim for 10 crores considering the inflation in future. Is this enough and attainable?
- Not sure if I want to or if I will be able to marry again
- Any other advices or opinions are also welcome

Thank you for reading and your time :)