Hey Yogi, I just found your channel. My wife and I retired 3 years ago at age 47 (me) and 42 (her). We're enjoying our life and our 13 year old daughter to the fullest. We travel as much as we can as a family and individually as well. So happy to see your journey here and to watch another couple on this incredible journey. I still pinch myself daily as I feel like we've truly unlocked a massive life goal. Once we we FIRE'd life just opened up and now we have time to enjoy and pursue deeper states of being mentally, physically and it feels so incredible. Keep up the great work!
Congratulations on your retirement, and glad to hear that you are still enjoying it even after 3yrs. Gives us confidence that like you, we also made the right choice!
Hi Yogi & Seema, This is Anup and am your subscriber since last few months ,wanted to take a moment to express my gratitude for the invaluable tips and lessons you both are sharing on regular basis through your channel .Your experience & insights in each content/episode are really helping us to move our life from “fast lane” and take informed decisions. Keep up the good work! Thank you both & best wishes Anup
Hi Anup, thanks for the appreciation. We are glad that the videos are providing new insights and helping make informed decisions. Will try our best to continue giving you tips and lessons based on our joint experiences God bless!
I am so happy to know how you are enjoying and escape the work slavery, god bless you both. I am tired of interacting with unnecessary people all of them are having some agenda, yet this is mandated as being social and "team bonding" bs in corporate world. I am at best when I am alone, and I dont need any namesake friend, I am happy to stay near my parents and enjoy the most quality time. I have done work for last 17 years in IT industry and happy to see you speaking the truth. Please remain like "raw truth".. I dont care for any degree or promotion or BS pat on the back.. all part of slavery.. If I can help my old parents that would be my biggest achievement, not a promotion or career. No more illusion
Thanks for the appreciation and god bless you too! Agree. It is so sad that the corporate world brainwashes us into these 'team bonding' exercises. That is all for their selfish business growth as all these so called 'team bonding' takes a cliff dive as soon as one retires. So the key to success is chasing financial independence, being close to the core relationships in life (did a video on that a while back. Do watch) and focussing on personal well being.
@@adityantamarapu6239 thanks, I am sure you are your manager's favourite employee like a yes man, who always acts faithful and only travels back to home to spend crocodile tears after death of your relatives, cause there is important project or spreadsheet needs to be filled else the master will be unhappy and ask status, and u r happy spending rest of the life happily carry out orders from your boss with a chain around your neck representing your submission, and not to mention wasting that money for consumerism trend and buying a car or spending in zomato and marking that as life ! I have seen people life these also a lot, who remains either single or divorced cause their slavery is their mission
Most important aspect of having a enjoyable retired life is your partner. Rest all is bonus. We are enjoying my post retirement life due to our sharing and caring for each other.
Spot on! The right partner is key, both for achieving that financial freedom and also enjoying that post retirement life. Glad you both are enjoying your post retirement life.
We are in our 4th year of FIRE, presently I am 56 years. We follow Rob Berger's 4 bucket strategy, which concept wise is similar to yours. We also focus on not to dwindle our corpus but for bucket 1 which is our 5 year cost of living. We are also influenced to a great extent by Bill Perkin's : Die with Zero. Hence touch our other buckets sometimes to buy the experiences in our go go years. We started liking your content: relevant, precise and professional production. Wish you all the best
Thanks for liking the content. Do please subscribe! We are also following the 'Die With Zero' approach but so far haven't touched the other buckets. Have plans for that in coming years.
I just retired at 52, last week…. My husband is 64, he retired 7 months ago at 63. We have been married 31 yrs. Taken in consideration of our age difference was one of the factors that went into me retiring early.. I wanted to have my time be mine, to spend it with whom and where I want to…. I’m still adjusting but thus far I am really enjoying it..
Congratulations on your retirement and glad you are really enjoying it! Hope it continues that way. Do please remain in touch. Would love to exchange updates, lesons, tips and tricks on how our retirement progresses.
Thanks for a practical summary. I’m in a similar situation-considering retirement to care for my parents, yet still drawn to the appeal of corporate life. Tough to strike balance between enjoying your work while taking care of personal priorities. Also, the first learning prepares one to set realistic expectations post retirement. It is okay to do nothing despite peer pressure 🙂
Glad you found the learnings useful and practical. Yeah the allure of the corporate life is what makes it difficult to take that bold decision. Something that I addressed more in the last video (th-cam.com/video/TxTugPY5QGM/w-d-xo.htmlsi=xpN4o_h1sMd8ceg8)
Thanks for sharing this information and your experiences. Would like to see the videos on there below 1. A normal day or week in your life 2. Top 10 things you missed before FIRE 3. Average monthly expenses 4. FIRE myths vs Reality 5. Introduce hashtag #askthefiredcouple and answer them weekly or monthly Q&A based in the comments 6. Your video making equipment and Editing information 7. Video from your Dear ones what is their opinion about your Decision and how are they reacting now 8. Live Sessions
I am on a slow retirement plan out that I got from my company after 38 yrs of Corporate work. I like aa the things you stated. I would add that everyone especially South-Asians get themselves a thorough Health check up and make it your No 1 priority. Saving huge amount of money, working hard is not worth it if you suddenly get a heart attack or any such major issue. #2 - Get a good read from a financial planner on tax issues in retirement like Back door ROTH conversion and getting a cash flow plan for yourself, so you live largely on interest + social security. #3 Do not think that you need a massive home in retirement - it gets difficult to handle and keep clean plus swimming pools end up costing money unless you and your spouse really use it. Enjoy your retirement!
Thanks! The health checkups are absolutely critical. After the age of 40, everyone should get an annual full body check-up done. No use amassing all the wealth if there is no health to enjoy it.
Great video! I left work 9 months ago and my greatest fear was losing my sense of purpose. I was ready financially to retire early, but I had serious concerns with losing my sense of purpose. As you said in the video, that is bs and 9 months in, I realize my fears were unfounded...
Great to hear that you've had similar experiences like us. Hopefully from these comments / conversations and the videos, people would also realise the same.
Hi Yogi, More or less similar story for us, it's been 2+2 years now, considering 2 years during Covid were as good as retirement, and we are learning, enjoying a new chapter of our lives.
What age is early retire? For me at the age of 50 and now i am at bkk for almost 2 years .Love that decision bought a condo in Bkk and a car going everywhere in Thailand.
We retired just before turning 50. has been one of the best decisions of our lives! Like you we are also driving around and enjoying different places in Thailand (hello from Hua Hin!)
Thank you for sharing your experiences, I feel its important to have some kind of hobby to spend your time on daily basis, that makes you free from emotionally depending on anyone... As you talk about learning not to do anything.. I will try to learn that.
Great lesson, as always. I just paused the video to write the comment on the purpose of life, as you connect it with the our use-to getting witht the corporate purpose and how you out it in a phrase, beautifully is just a 'bullshit'! Abslotely, we mixed two things - the purpose of their business with the purpose of our life.
Both Yogi and Seema God bless you.the meaning of life is utmost happiness, peace of mind every moment is memorable.This we won't get in our professional life.definitely your thought process inspires many
Same goes... Retired at 47... Its been an year or so still getting used on how to spend lot of free time... But multiple benefits... 1) Not to worry about work related issues, timelines, challenges. One major daily worry about work is knocked off... 2) Makes easy to follow a routine to improve your physical and mental health. What to eat, when to eat, when to sleep? More time for exercise, yoga etc etc 3) Earlier not able to meet any real friends, relatives, attend ceremonies etc. now have freedom to meet more and strengthen relations 4) lot of time for travel. Even earlier when used to work, though took holidays, it didnt give much happiness as we spend time in planning holidays alongside work schedules, and think about work during holidays and handle all the backlog once holiday is over. Now we can enjoy holidays to fullest... 5) Can support children and life partner more and spend more time with them 6) Explore other interests like cooking, music, reading or any other hobby... 7) dont need to worry about money/salary as already ensured we have passive income before retiring. But the time and freedom also gives opportunity to make more money in multiple other ways beyond 9-5 job...
Congratulations on that one year anniversary! Glad to read that we are enjoying similar kind of benefits. I am sure, like us, you also have no regrets of leaving the corporate life!
What you say sounds good but the main crux is finance. Will we be able to survive till our 90 s with the same lifestyle is one big question and therefore we earn as much as possible. All the points you mentioned is besides the point and the main issue is can our finance outlast us
Yes. Finances are very important and key to get the corpus right. Something that I cover in the first point of the following video - th-cam.com/video/TxTugPY5QGM/w-d-xo.html
Very informative video. Good to hear what goes on in the background when someone retires. Reveals about corporate was highlight. Thanks for all the videos
Couldn't agree with you more about the sense of purpose part. There is a whole world outside the corporate rat race which opens up to you. The most important part is the time you get to spend with people you love be it ageing parents, children and friends. And the greatest of all is the time you get to understand and care for yourself, your health physical, spiritual and mental , your interests and hobbies, giving back to soviety and your finances. You will never feel more grateful and in control of your life by doing all of the above. And when the times comes, die with almost no regrets.
Absolutely! Wish more people have that level of understanding and grasp that you do around this. Hopefully these videos are helping creating that awareness.
Great video! It'll be a year in October since we retired early and it's been wonderful so far! Sometimes we have no idea what the date is because we're too busy having fun to care.😂
Really appreciated! Travel and slow village life is what goal is! How do we get 5-10 years of foreign work? Its around 45lpa fix as a couple but i think i can get faster to the goal. Idk how to go abroad
Thanks for the appreciation. For getting foreign work assignments, you will need to see what kind of skills are in demand outside and then try to work on that. Do watch - th-cam.com/video/ihCWOdbPsC0/w-d-xo.htmlsi=C-mgamVXbVjR_Gg2. Will help you will some additional insight.
@@TheFIREdCoupleyes now people realize importance of financial planning as soon as they join their new job in early 20s as opposed to mid 30s as it used to be before a decade ago
What is your definition of "financial independence"? Based on your video, you seem to be defining it as having a large enough portfolio to pay for all your daily expenses plus unexpected expenses plus for travelling the world. Your video is like many other videos that I've seen where the presenter never reveals the actual dollar amount of their portfolio when they retired. What was your portfolio balance when you decided to retire?
Thanks for the comment. As we mention in our videos, financial independence is when you have wealth that is atleast 25 times your annual expenses (th-cam.com/video/RKN3eKrd7Ec/w-d-xo.htmlsi=BJH_kqI766Xdv1Tc). The expenses should include your taxes too. The actual dollar amount is based on each one's personal situation, spend and circumstances so there is no one magic number unfortunately (do watch - th-cam.com/users/shortsp0kLL3BaOA4).
Money/assets are linked to expenses. Based on their lifestyle / expenses, someone can comfortably retire with 5CR while another person may find it difficult to retire even with 100CR. I've addressed this in more details here - th-cam.com/video/RKN3eKrd7Ec/w-d-xo.html
Regarding Government jobs ,it should be never beyond 58 years ,or the 33 years.personaly i feel kerala is good with 55/56 It makes sense to give way to young people as they are more unemployed.
Boring... definitely not! There is SO much to life other than work. In the last one year we have been busy traveling, hiking, learning new things, spending time with family / friends, reading, visiting new places, mentoring / coaching young people, trying out new cooking, exercises, badminton, golf, making these videos... the list is long! Interestingly we thought we will also catch up on movies / TV series etc but don't get enough time to do that ;-) Like I said in the video, don't let the corporate world fool you that you will get bored or lose your 'sense of purpose'. It just changes and evolves.
I am newly FIREd 😂😂😂😂 My journey has just begun.... Just one question. I have 2 kids, 9 Yr & 11 Yr. Actually we were planning to drop the kids with my parents for couple of weeks, then travel as a coupe & feel like free birds 🐦 What do you recommend? Traveling as a couple or along wirh kids, what would be more enjoyable?
Congratulations for your newly FIREd journey! Both options are good but traveling as a couple time and again is very important, especially on embarking the FIRE together. Such a trip helps to reconnect with each other, while discussing life's priorities, goals, finding those joint passions and hobbies.
@@TheFIREdCouple Thanks for your advice. Just one last question. I was trying to check for some other alternative solution, rather than dropping the kids with my parents. It would be great if you can suggest something.
@@TheFIREdCouple congrats. Would you mind telling the corpus at 49 which helped u decide u achieved financial freedom. I am 48.5 years and depressed and in poor health. Want to leave my job too. So u are an inspiration
Corpus is totally dependent on an individual's lifestyle and expenses. If you are ~49yrs old, then I suggest you should multiply your current annual expenses (including taxes) by a factor of 30. This will give you the minimum corpus that you will need to sustain your expenses without running out of money. To be safe and to have buffer for unforeseen circumstances, multiply by 35. Suggest to also watch th-cam.com/video/RKN3eKrd7Ec/w-d-xo.html Do take care of your mental and physical health. That is much more important than anything else in life!
What about your kids, where are they and what is there age now, how they accept your decision etc....please suggest me because i have 2 kids one is 5 years daughter and one son of 3 years..planning to get fired before 42years of age and currently i m 33..
FIRE is all about planning in advance. You have 10 years to your target FIRE date, so start planning and putting the two major expenses already in your FIRE plan: - School and university education - Wedding expenses In addition to that, you should know what and how you plan to spend time in the early years of FIRE. When you will be 43, your children would still be school going for 4-6 years. This means on one hand you can have a lot of quality time with them and contribute to their education while on the other hand, you can't just be traveling all the time.
Did you earn most income in US or outside India and then moved to back to India? Asking because to make 30x work for me it wouldn't be possible if I continued staying outside India.
@@TheFIREdCouple Thanks for sharing your thoughts , May I know why Thailand .? Why not India.? Can you please through some details around that ..Thanks in advance..!
I beleive there is nothing wrong in selling from your corpus. It is a mental block that we need some passive inflows like dividend or rent. It just feels nice. But that may not even be very efficient. I would rather just sell from my accumulating mutual funds, as and when I want. There is no need of rebalancing also. I will let my equities corpus run and wont touch it. I will keep selling my debt funds. I have about 4cr in debt funds and 6cr in equity funds. Those 4cr should last me 20 years, at 20L per year consumption. You know it is very simple, we dont have to complicate it. I wont touch the equities for 20 years. That 6Cr in 20 years is going to become so massive, it will be unbelievable. BTW, would appreciate if you could share your corpus numbers. All this gyan is good, but we need some tangible numbers to get confidence in what you say. What if you have like 100cr, lol. We will never be able to achieve that.
Agree with that there is nothing wrong with selling the corpus. Our personal approach however has been to use passive income as much as we can (and we've build a good stream of passive income) so that we can leave some legacy behind in the form of our corpus. If that doesn't happen then it is also ok but has been our ambition. As for sharing our corpus numbers it's a 'damn if you do and damn if you don't' situation. Even if we have 10cr, 50cr or 100cr there will always be folks who will feel they can never be able to achieve that and for us it was easy for us because of xy reasons. Also, the 'financial independence and retirement early' are based not on a particular corpus figure but ones expenses and the ambition of a corpus being a multiple of those expenses. So it is very personal journey for each but the principles - or that gyan - would still remain the same.
@@TheFIREdCouple Again, I think you have some misconceptions about passive income vs selling from the corpus. Are you saying somehow selling from the corpus will dwindle the corpus faster vs passive income will let the asset's value hold? That is not true at all. It could very well be the opposite. By default, growth oriented MFs reinvest and then we sell what we want, which could be more or less than the reinvestment. Unless your definition of passive income streams is something very exotic and different from traditional assets. But in that case your journey is very very niche compared to the already small minority of people who plan to retire early. Regarding corpus sharing, it just makes it more relatable. If you dont share your actual journey in terms of how much you spent in a year and how much your corpus grew, well then people will just lose interest because everything is just very personal lifestyle stuff which most people wont relate. Not everyone is retiring in Thailand for example.
@@Revhappy829 Your logic is right when the corpus is 100% in equity, mutual funds, debt etc. However when the corpus also has a significant amount of real estate, then the passive income (i.e rental in that case) becomes more important than liquidating those assets in a piecemeal approach (not practically possible anyways). As for corpus sharing, well it is a personal choice. Due to certain things, privacy and safety concerns take more importance for us than content relatability, viewers etc. However will take your feedback and see how best we can share numbers (monthly spending etc) in future videos. Thanks.
I retired in my mid 50s. I do not think that qualifies as early retirement. Anyway, you are wrong that you only have to worry about cash flow and not about investment. You have to plan on your portfolio lasting for 40 years. So you cannot ignore the investment part.
Hope you are enjoying the retirement. Yes one still invests but it is more about rebalancing existing funds rather than new funds, as there is no salary or new funds
SUMMARY 1 Time a Abundance Repurpose Only Travel in the 1st Year b Flexibility To spend time to connect/Help friends & family in need c Doing Nothing Unlearn Opposite of Productivity; Un-Stressful 2 Network : a Complete Change No Selfish Motive Variety b Quantity vs Quality Beyond Professional surroundings c Deeper Interaction Life/Philosophy 3 Life Partner a Spending 24 Hrs Align Interest b Give Space Travel alone/Move out c New hobbies Spiritualism/Counselling 4 Financial Management a Saving b Invest Rebalancing Portfolio Management c Cash Flow Management Passive Income Ideas/Innovation/emergency Fund 5 Sense of Purpose A Big corporate Lie Work and Targets are not important B Find new Avenues Health; Spiritualism/Travel c Giving Back To Society Education/guidance
U r a slow learner if you just learned those 5 after a year of retirement😂😂😂. I only retired last month and i already know or experiences those 5. Thanks for your input, it just reinforces that i am in d right track😅
Hello Yogi & Seema, Me and my wife liked your option to shift to Thailand. I fact we also want to do that. But I have a kid 5 Years. We are almost there in terms of financial independence. Can you mentor me sir?
Oh. Will check out your website. Good initiative. Hopefully one day there would be enough awareness in India about horns. Bangkok has lots of traffic but very peaceful and calm.
Your content is good, but believe me, faking accent won't make you look an American or will increase your credibility. Your friend circle might not have said so out of sheer courtsey, but i struggled to watch your video for the fakeness in your accent. I loved the indian koyal's sound in the background though.
Thanks for the feedback. Appreciate it. Glad the content resonates even if the accent doesn't. Unfortunately the accent is what it is after living and working in different countries over the last two decades...
I don't believe he is faking. The accent is 75% Indian / desi .. remaining just happens without you realizing after staying for long in any foreign country! I now when it is faked. In fact I have started to feel that Hindi of Indians in India is becoming of how American or British born Indian kids speak Hindi.
@@HS-lb8kv Thanks. Yes indeed, those 25% changes just unconsciously creep in. Haha ... now that you mention it about Hindi, it would be hard not to notice next time we speak to a kid speaking Hindi ;-)
Retirement means only travelling and hobbies nothing else ? I myself prefer working and being active and helping others as much as I can and retirement is not my favourite!!
No, retirement means helping others, being active (sports, hiking, golf, tennis and more ...), learning new skills, pursuing your hobbies, volunteering for charitable causes, traveling, spending time with family, engaging with friends, embracing your spiritual side and so much more. So don't fall for the myth that retirement is just sitting on a rocking chair and doing nothing else.
Hey Yogi, I just found your channel. My wife and I retired 3 years ago at age 47 (me) and 42 (her). We're enjoying our life and our 13 year old daughter to the fullest. We travel as much as we can as a family and individually as well. So happy to see your journey here and to watch another couple on this incredible journey. I still pinch myself daily as I feel like we've truly unlocked a massive life goal. Once we we FIRE'd life just opened up and now we have time to enjoy and pursue deeper states of being mentally, physically and it feels so incredible. Keep up the great work!
Congratulations on your retirement, and glad to hear that you are still enjoying it even after 3yrs. Gives us confidence that like you, we also made the right choice!
Congrats ! Do you have channel too? What did u do to achieve it? I am in mid forties
Hi Yogi & Seema,
This is Anup and am your subscriber since last few months ,wanted to take a moment to express my gratitude for the invaluable tips and lessons you both are sharing on regular basis through your channel .Your experience & insights in each content/episode are really helping us to move our life from “fast lane” and take informed decisions.
Keep up the good work!
Thank you both & best wishes
Anup
Hi Anup, thanks for the appreciation. We are glad that the videos are providing new insights and helping make informed decisions. Will try our best to continue giving you tips and lessons based on our joint experiences God bless!
Great advises. I am always running and my mind always wanting to learn and doing something. Now I am fighting to sit still and meditate, calm my mind.
I am so happy to know how you are enjoying and escape the work slavery, god bless you both. I am tired of interacting with unnecessary people all of them are having some agenda, yet this is mandated as being social and "team bonding" bs in corporate world. I am at best when I am alone, and I dont need any namesake friend, I am happy to stay near my parents and enjoy the most quality time. I have done work for last 17 years in IT industry and happy to see you speaking the truth. Please remain like "raw truth".. I dont care for any degree or promotion or BS pat on the back.. all part of slavery.. If I can help my old parents that would be my biggest achievement, not a promotion or career. No more illusion
Thanks for the appreciation and god bless you too!
Agree. It is so sad that the corporate world brainwashes us into these 'team bonding' exercises. That is all for their selfish business growth as all these so called 'team bonding' takes a cliff dive as soon as one retires. So the key to success is chasing financial independence, being close to the core relationships in life (did a video on that a while back. Do watch) and focussing on personal well being.
Maybe you should try running a business.
Calling work as slavery just because you had a few bad experiences is not justifiable.
@@adityantamarapu6239 thanks, I am sure you are your manager's favourite employee like a yes man, who always acts faithful and only travels back to home to spend crocodile tears after death of your relatives, cause there is important project or spreadsheet needs to be filled else the master will be unhappy and ask status, and u r happy spending rest of the life happily carry out orders from your boss with a chain around your neck representing your submission, and not to mention wasting that money for consumerism trend and buying a car or spending in zomato and marking that as life ! I have seen people life these also a lot, who remains either single or divorced cause their slavery is their mission
So true. Only the money matters, everything else is boring
❤ excellent
Most important aspect of having a enjoyable retired life is your partner. Rest all is bonus. We are enjoying my post retirement life due to our sharing and caring for each other.
Spot on! The right partner is key, both for achieving that financial freedom and also enjoying that post retirement life. Glad you both are enjoying your post retirement life.
Very nicely put together without giving advice. I learnt a few from your sharing. Good luck and happy years ahead.
Thanks, you too!
We are in our 4th year of FIRE, presently I am 56 years. We follow Rob Berger's 4 bucket strategy, which concept wise is similar to yours. We also focus on not to dwindle our corpus but for bucket 1 which is our 5 year cost of living. We are also influenced to a great extent by Bill Perkin's : Die with Zero. Hence touch our other buckets sometimes to buy the experiences in our go go years.
We started liking your content: relevant, precise and professional production. Wish you all the best
Thanks for liking the content. Do please subscribe!
We are also following the 'Die With Zero' approach but so far haven't touched the other buckets. Have plans for that in coming years.
Retiring in your 50s is hardly ‘retire early’
I just retired at 52, last week…. My husband is 64, he retired 7 months ago at 63. We have been married 31 yrs. Taken in consideration of our age difference was one of the factors that went into me retiring early.. I wanted to have my time be mine, to spend it with whom and where I want to…. I’m still adjusting but thus far I am really enjoying it..
Congratulations on your retirement and glad you are really enjoying it! Hope it continues that way. Do please remain in touch. Would love to exchange updates, lesons, tips and tricks on how our retirement progresses.
Thanks for a practical summary. I’m in a similar situation-considering retirement to care for my parents, yet still drawn to the appeal of corporate life. Tough to strike balance between enjoying your work while taking care of personal priorities. Also, the first learning prepares one to set realistic expectations post retirement. It is okay to do nothing despite peer pressure 🙂
Glad you found the learnings useful and practical. Yeah the allure of the corporate life is what makes it difficult to take that bold decision. Something that I addressed more in the last video (th-cam.com/video/TxTugPY5QGM/w-d-xo.htmlsi=xpN4o_h1sMd8ceg8)
Thanks for sharing this information and your experiences.
Would like to see the videos on there below
1. A normal day or week in your life
2. Top 10 things you missed before FIRE
3. Average monthly expenses
4. FIRE myths vs Reality
5. Introduce hashtag #askthefiredcouple and answer them weekly or monthly Q&A based in the comments
6. Your video making equipment and Editing information
7. Video from your Dear ones what is their opinion about your Decision and how are they reacting now
8. Live Sessions
Thanks for the ideas Sravan! Very good list of topics and videos to work on.
will start with the hastag once we have a bit more traction.
Thank you for this excellent video. very insightful!
You're very welcome!
I am on a slow retirement plan out that I got from my company after 38 yrs of Corporate work. I like aa the things you stated. I would add that everyone especially South-Asians get themselves a thorough Health check up and make it your No 1 priority. Saving huge amount of money, working hard is not worth it if you suddenly get a heart attack or any such major issue. #2 - Get a good read from a financial planner on tax issues in retirement like Back door ROTH conversion and getting a cash flow plan for yourself, so you live largely on interest + social security. #3 Do not think that you need a massive home in retirement - it gets difficult to handle and keep clean plus swimming pools end up costing money unless you and your spouse really use it. Enjoy your retirement!
Thanks!
The health checkups are absolutely critical. After the age of 40, everyone should get an annual full body check-up done. No use amassing all the wealth if there is no health to enjoy it.
Fantastic I am in the phase of early retirement planning your real time experience gives comfort to decide and meeting the sense of purpose
All the best for your planning!
Excellent . Brought out very well. It’s 4 years since I retired and am in full agreement.
Thanks. Hope you are enjoying your retirement
Thank you. Very , very useful advice . Very well ppresented.
Glad it was helpful!
Great video! I left work 9 months ago and my greatest fear was losing my sense of purpose. I was ready financially to retire early, but I had serious concerns with losing my sense of purpose. As you said in the video, that is bs and 9 months in, I realize my fears were unfounded...
Great to hear that you've had similar experiences like us. Hopefully from these comments / conversations and the videos, people would also realise the same.
Thanks for your great service to help others. I am still working and makes me consider my options. Well done and best wishes.
Thanks! Glad to be of help.
Well said friend. Just lovely. 5 key takeaways are just too good.
Thank you! Glad you appreciate it.
Great learning from The Fired Couple 😊👍
Thank you. Appreciate your feedback
One problem is health insurance which is too expensive compared to what you pay for when you have a regular job.
Hi Yogi,
More or less similar story for us, it's been 2+2 years now, considering 2 years during Covid were as good as retirement, and we are learning, enjoying a new chapter of our lives.
Super! Glad you are enjoying this new chapter like we are!
Very good explanation and presentation informing about the early retirement, which also applies to all types of retirement.
Thanks. Appreciate your feedback
absolute gems of advice! a must for everyone who retires no matter when!
Thanks! Appreciate your comment.
Great insights & sharing!
Thanks so much!
What a gem of advice!! Needed to see this 🥰🥰
Thanks!
Amazing , can you please share your complete step by step journey of getting the Thai LTR Visa, that will be a huge help, thanks a ton !!
Thanks. Will do soon in of of the upcoming videos
Sir , also, if you are open to a small paid consultation, I will be happy to take your consultation, is it doable? thank you
Yes sure. Please reach out on thefiredcouple@gmail.com
Just sent an email, looking forward, thank you so much 👍💗
You guys are amazing. I thought we will get to hear some gems from ma'am as well but will wait for the next topic....
Thanks!
We will be soon doing a joint video now that we have some stability in location and equipment.
Very motivating video..
I am also on the way to get retired.
Thanks for sharing your practical experience and approach.
Thanks for the appreciation. Wish you the best for your financial independence journey!
What age is early retire? For me at the age of 50 and now i am at bkk for almost 2 years .Love that decision bought a condo in Bkk and a car going everywhere in Thailand.
We retired just before turning 50. has been one of the best decisions of our lives! Like you we are also driving around and enjoying different places in Thailand (hello from Hua Hin!)
Very true from heart video that’s what I liked not any bookish gayan….loved the five take aways
Thanks. 🙏🏽
Brilliant, practical and wise. Busts many myths in our minds!
Thanks. More myth busting to come in future video!
Great insightful videos Yogi 👌 appreciate your efforts.
Thank you 🙌
Thank you for sharing your experiences, I feel its important to have some kind of hobby to spend your time on daily basis, that makes you free from emotionally depending on anyone... As you talk about learning not to do anything.. I will try to learn that.
Thanks. Yes. Hobbies and learning (even if learning to do nothing!) are important.
Great lesson, as always. I just paused the video to write the comment on the purpose of life, as you connect it with the our use-to getting witht the corporate purpose and how you out it in a phrase, beautifully is just a 'bullshit'! Abslotely, we mixed two things - the purpose of their business with the purpose of our life.
Exactly. The corporate world tries to brainwash that the purpose of our life is best achieved by serving the purpose of their business.
Both Yogi and Seema God bless you.the meaning of life is utmost happiness, peace of mind every moment is memorable.This we won't get in our professional life.definitely your thought process inspires many
Thanks a lot for your blessings and encouragement. Hopefully these videos inspire others and also give new insights towards their journey
Excellent video
Thank you very much! Do subscribe, if not done already.
Same goes... Retired at 47... Its been an year or so still getting used on how to spend lot of free time... But multiple benefits...
1) Not to worry about work related issues, timelines, challenges. One major daily worry about work is knocked off...
2) Makes easy to follow a routine to improve your physical and mental health. What to eat, when to eat, when to sleep? More time for exercise, yoga etc etc
3) Earlier not able to meet any real friends, relatives, attend ceremonies etc. now have freedom to meet more and strengthen relations
4) lot of time for travel. Even earlier when used to work, though took holidays, it didnt give much happiness as we spend time in planning holidays alongside work schedules, and think about work during holidays and handle all the backlog once holiday is over. Now we can enjoy holidays to fullest...
5) Can support children and life partner more and spend more time with them
6) Explore other interests like cooking, music, reading or any other hobby...
7) dont need to worry about money/salary as already ensured we have passive income before retiring. But the time and freedom also gives opportunity to make more money in multiple other ways beyond 9-5 job...
Congratulations on that one year anniversary! Glad to read that we are enjoying similar kind of benefits. I am sure, like us, you also have no regrets of leaving the corporate life!
What you say sounds good but the main crux is finance. Will we be able to survive till our 90 s with the same lifestyle is one big question and therefore we earn as much as possible. All the points you mentioned is besides the point and the main issue is can our finance outlast us
Yes. Finances are very important and key to get the corpus right. Something that I cover in the first point of the following video -
th-cam.com/video/TxTugPY5QGM/w-d-xo.html
Very well articulated! Would love to see include of mental physical and spiritual health included in the change
Thanks and good point. Would try to cover those in an upcoming video
Very informative video. Good to hear what goes on in the background when someone retires. Reveals about corporate was highlight. Thanks for all the videos
Thanks.
Yes. Be careful of the corporate sales stories 😀
Couldn't agree with you more about the sense of purpose part. There is a whole world outside the corporate rat race which opens up to you. The most important part is the time you get to spend with people you love be it ageing parents, children and friends. And the greatest of all is the time you get to understand and care for yourself, your health physical, spiritual and mental , your interests and hobbies, giving back to soviety and your finances. You will never feel more grateful and in control of your life by doing all of the above. And when the times comes, die with almost no regrets.
Absolutely! Wish more people have that level of understanding and grasp that you do around this. Hopefully these videos are helping creating that awareness.
Nice video...but What if the wife did not want to retire early..then what?? I m planning to retire by 50 age...
Thanks.
That still works. For example in our case, Seema retired many years before I did.
Great video! It'll be a year in October since we retired early and it's been wonderful so far! Sometimes we have no idea what the date is because we're too busy having fun to care.😂
Thanks for the feedback and congratulations on soon completing the 1 year of retirement!!
Oh ... and what date is it today btw? ;-)
Really appreciated!
Travel and slow village life is what goal is!
How do we get 5-10 years of foreign work? Its around 45lpa fix as a couple but i think i can get faster to the goal.
Idk how to go abroad
Thanks for the appreciation.
For getting foreign work assignments, you will need to see what kind of skills are in demand outside and then try to work on that. Do watch - th-cam.com/video/ihCWOdbPsC0/w-d-xo.htmlsi=C-mgamVXbVjR_Gg2. Will help you will some additional insight.
Would it make sense to get into a low stress job and do some of the things like travel, nature, doing nothing at times to ease into retirement?
Absolutely! There is no right or wrong. As we say in the videos - 'Financial independence is a must. Retiring early is an option'.
Real sense of purpose starts after FIRE - Health, planned travel, meeting new people, lots of experiences etc!!
Absolutely! Hopefully more people would realise that in coming years.
@@TheFIREdCoupleyes now people realize importance of financial planning as soon as they join their new job in early 20s as opposed to mid 30s as it used to be before a decade ago
What is your definition of "financial independence"? Based on your video, you seem to be defining it as having a large enough portfolio to pay for all your daily expenses plus unexpected expenses plus for travelling the world. Your video is like many other videos that I've seen where the presenter never reveals the actual dollar amount of their portfolio when they retired. What was your portfolio balance when you decided to retire?
Thanks for the comment. As we mention in our videos, financial independence is when you have wealth that is atleast 25 times your annual expenses (th-cam.com/video/RKN3eKrd7Ec/w-d-xo.htmlsi=BJH_kqI766Xdv1Tc). The expenses should include your taxes too.
The actual dollar amount is based on each one's personal situation, spend and circumstances so there is no one magic number unfortunately (do watch - th-cam.com/users/shortsp0kLL3BaOA4).
How do you avoid over indulging food when u r 24/7 free to do anything?
Always a big challenge :-)
Very good video!!
Thank you very much!
I agree personally think Retirement is not appropriate term it should be Repurpose-Life .. do things which now make your Life and Wellbeing rich ..
Good point. Need to find some other word for that next phase of life.
It depends on how much Money/Asset one has .. what is your Portfolio ball park ..
Money/assets are linked to expenses. Based on their lifestyle / expenses, someone can comfortably retire with 5CR while another person may find it difficult to retire even with 100CR.
I've addressed this in more details here - th-cam.com/video/RKN3eKrd7Ec/w-d-xo.html
Regarding Government jobs ,it should be never beyond 58 years ,or the 33 years.personaly i feel kerala is good with 55/56
It makes sense to give way to young people as they are more unemployed.
Yes indeed. Important to give opportunities to young talent while at the same time moving on to the next phase of life.
Isn't it boring if there is no work to do? And is not it possible while doing a job ?
Boring... definitely not! There is SO much to life other than work. In the last one year we have been busy traveling, hiking, learning new things, spending time with family / friends, reading, visiting new places, mentoring / coaching young people, trying out new cooking, exercises, badminton, golf, making these videos... the list is long! Interestingly we thought we will also catch up on movies / TV series etc but don't get enough time to do that ;-)
Like I said in the video, don't let the corporate world fool you that you will get bored or lose your 'sense of purpose'. It just changes and evolves.
@@TheFIREdCouple Thanks for the reply. Sounds good.
I am newly FIREd 😂😂😂😂
My journey has just begun....
Just one question.
I have 2 kids, 9 Yr & 11 Yr.
Actually we were planning to drop the kids with my parents for couple of weeks, then travel as a coupe & feel like free birds 🐦
What do you recommend?
Traveling as a couple or along wirh kids, what would be more enjoyable?
Congratulations for your newly FIREd journey!
Both options are good but traveling as a couple time and again is very important, especially on embarking the FIRE together. Such a trip helps to reconnect with each other, while discussing life's priorities, goals, finding those joint passions and hobbies.
@@TheFIREdCouple Thanks for your advice.
Just one last question.
I was trying to check for some other alternative solution, rather than dropping the kids with my parents.
It would be great if you can suggest something.
@@sunilmaurya7033 Well summer camp could be one option but I think they are a bit too young for that
@@TheFIREdCouple Yes. Also, they won't keep the kids with them for couple of weeks.
How much is ur corpus and age when u decided to retire
We decided to retire at 45 but finally took the big plunge at 49.
@@TheFIREdCouple congrats. Would you mind telling the corpus at 49 which helped u decide u achieved financial freedom. I am 48.5 years and depressed and in poor health. Want to leave my job too. So u are an inspiration
Corpus is totally dependent on an individual's lifestyle and expenses. If you are ~49yrs old, then I suggest you should multiply your current annual expenses (including taxes) by a factor of 30. This will give you the minimum corpus that you will need to sustain your expenses without running out of money. To be safe and to have buffer for unforeseen circumstances, multiply by 35.
Suggest to also watch th-cam.com/video/RKN3eKrd7Ec/w-d-xo.html
Do take care of your mental and physical health. That is much more important than anything else in life!
Good video
Thanks
What’s your total corpus?
Will be elaborating that in upcoming videos
Good
Nice we watched in Newzealand
What about your kids, where are they and what is there age now, how they accept your decision etc....please suggest me because i have 2 kids one is 5 years daughter and one son of 3 years..planning to get fired before 42years of age and currently i m 33..
FIRE is all about planning in advance. You have 10 years to your target FIRE date, so start planning and putting the two major expenses already in your FIRE plan:
- School and university education
- Wedding expenses
In addition to that, you should know what and how you plan to spend time in the early years of FIRE. When you will be 43, your children would still be school going for 4-6 years. This means on one hand you can have a lot of quality time with them and contribute to their education while on the other hand, you can't just be traveling all the time.
Insightful video 😊
Thanks!
Did you earn most income in US or outside India and then moved to back to India? Asking because to make 30x work for me it wouldn't be possible if I continued staying outside India.
We earned most of our income outside India and btw we finally retired in Thailand.
@@TheFIREdCouple Thanks for sharing your thoughts , May I know why Thailand .? Why not India.? Can you please through some details around that ..Thanks in advance..!
At what age you retired?
49 - Target was before 50 🙂
@@TheFIREdCouple Thanks for replying.
I beleive there is nothing wrong in selling from your corpus. It is a mental block that we need some passive inflows like dividend or rent. It just feels nice. But that may not even be very efficient. I would rather just sell from my accumulating mutual funds, as and when I want. There is no need of rebalancing also. I will let my equities corpus run and wont touch it. I will keep selling my debt funds. I have about 4cr in debt funds and 6cr in equity funds. Those 4cr should last me 20 years, at 20L per year consumption. You know it is very simple, we dont have to complicate it. I wont touch the equities for 20 years. That 6Cr in 20 years is going to become so massive, it will be unbelievable. BTW, would appreciate if you could share your corpus numbers. All this gyan is good, but we need some tangible numbers to get confidence in what you say. What if you have like 100cr, lol. We will never be able to achieve that.
Agree with that there is nothing wrong with selling the corpus. Our personal approach however has been to use passive income as much as we can (and we've build a good stream of passive income) so that we can leave some legacy behind in the form of our corpus. If that doesn't happen then it is also ok but has been our ambition.
As for sharing our corpus numbers it's a 'damn if you do and damn if you don't' situation. Even if we have 10cr, 50cr or 100cr there will always be folks who will feel they can never be able to achieve that and for us it was easy for us because of xy reasons.
Also, the 'financial independence and retirement early' are based not on a particular corpus figure but ones expenses and the ambition of a corpus being a multiple of those expenses. So it is very personal journey for each but the principles - or that gyan - would still remain the same.
@@TheFIREdCouple Again, I think you have some misconceptions about passive income vs selling from the corpus. Are you saying somehow selling from the corpus will dwindle the corpus faster vs passive income will let the asset's value hold? That is not true at all. It could very well be the opposite. By default, growth oriented MFs reinvest and then we sell what we want, which could be more or less than the reinvestment. Unless your definition of passive income streams is something very exotic and different from traditional assets. But in that case your journey is very very niche compared to the already small minority of people who plan to retire early. Regarding corpus sharing, it just makes it more relatable. If you dont share your actual journey in terms of how much you spent in a year and how much your corpus grew, well then people will just lose interest because everything is just very personal lifestyle stuff which most people wont relate. Not everyone is retiring in Thailand for example.
@@Revhappy829 Your logic is right when the corpus is 100% in equity, mutual funds, debt etc. However when the corpus also has a significant amount of real estate, then the passive income (i.e rental in that case) becomes more important than liquidating those assets in a piecemeal approach (not practically possible anyways).
As for corpus sharing, well it is a personal choice. Due to certain things, privacy and safety concerns take more importance for us than content relatability, viewers etc. However will take your feedback and see how best we can share numbers (monthly spending etc) in future videos. Thanks.
@@TheFIREdCouple Thanks, appreciate it and all the best!!!
I retired in my mid 50s. I do not think that qualifies as early retirement. Anyway, you are wrong that you only have to worry about cash flow and not about investment. You have to plan on your portfolio lasting for 40 years. So you cannot ignore the investment part.
Hope you are enjoying the retirement.
Yes one still invests but it is more about rebalancing existing funds rather than new funds, as there is no salary or new funds
Btw 50s would still be early retirement from the official standards of retiring in mid-60s… so congratulations for that!
May.b I want to know abt ur travel
Sure. What would you like to know?
This looks like Chandigarh. Is it so?
No, it is Delhi :-)
SUMMARY
1 Time
a Abundance Repurpose Only Travel in the 1st Year
b Flexibility To spend time to connect/Help friends & family in need
c Doing Nothing Unlearn Opposite of Productivity; Un-Stressful
2 Network :
a Complete Change No Selfish Motive Variety
b Quantity vs Quality Beyond Professional surroundings
c Deeper Interaction Life/Philosophy
3 Life Partner
a Spending 24 Hrs Align Interest
b Give Space Travel alone/Move out
c New hobbies Spiritualism/Counselling
4 Financial Management
a Saving
b Invest Rebalancing Portfolio Management
c Cash Flow Management Passive Income Ideas/Innovation/emergency Fund
5 Sense of Purpose
A Big corporate Lie Work and Targets are not important
B Find new Avenues Health; Spiritualism/Travel
c Giving Back To Society Education/guidance
Thanks for this comprehensive summary!
U r a slow learner if you just learned those 5 after a year of retirement😂😂😂. I only retired last month and i already know or experiences those 5. Thanks for your input, it just reinforces that i am in d right track😅
Haha. Well, glad you are a fast learner
Congratulations on your retirement!
Hello Yogi & Seema, Me and my wife liked your option to shift to Thailand. I fact we also want to do that. But I have a kid 5 Years. We are almost there in terms of financial independence. Can you mentor me sir?
Sure. Feel free to reach out on thefiredcouple@gmail.com
What accent is it?
A mix of English, Hindi, Dutch 😉
@@TheFIREdCouple Your accent is easy to understand
Thank you!
May be go on a diet and pay attention to health too
Do you have kids ??
No
Niks doen en genieten van het leven...
Inderdaad! :-)
As always just horns in all videos shot in India.
Tried our best with noise cancellation mics but can't muffle all the background noise. Guess you also have very sharp hearing ;-)
Yeah. I run a website called Hornnotokay and one of the biggest reason I am also considering Thailand is all the noise air and lifestyle pollution
Oh. Will check out your website. Good initiative. Hopefully one day there would be enough awareness in India about horns. Bangkok has lots of traffic but very peaceful and calm.
Yep. Planning my retirement there
Cool. Hopefully the video provided some insight towards your plans
Your content is good, but believe me, faking accent won't make you look an American or will increase your credibility. Your friend circle might not have said so out of sheer courtsey, but i struggled to watch your video for the fakeness in your accent.
I loved the indian koyal's sound in the background though.
Thanks for the feedback. Appreciate it. Glad the content resonates even if the accent doesn't. Unfortunately the accent is what it is after living and working in different countries over the last two decades...
I don't believe he is faking. The accent is 75% Indian / desi .. remaining just happens without you realizing after staying for long in any foreign country! I now when it is faked. In fact I have started to feel that Hindi of Indians in India is becoming of how American or British born Indian kids speak Hindi.
@@HS-lb8kv Thanks. Yes indeed, those 25% changes just unconsciously creep in.
Haha ... now that you mention it about Hindi, it would be hard not to notice next time we speak to a kid speaking Hindi ;-)
Retirement means only travelling and hobbies nothing else ?
I myself prefer working and being active and helping others as much as I can
and retirement is not my favourite!!
No, retirement means helping others, being active (sports, hiking, golf, tennis and more ...), learning new skills, pursuing your hobbies, volunteering for charitable causes, traveling, spending time with family, engaging with friends, embracing your spiritual side and so much more. So don't fall for the myth that retirement is just sitting on a rocking chair and doing nothing else.