5 reasons why aiming for FIRE makes sense

While you are aiming for FIRE, it may well happen that you may not achieve it or may achieve just partial financial Independence. But the financial independence mindset may align you towards the possibility of this happening, if situation be. Here are 5 reasons why aiming for FIRE makes sense.

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The financial independence mindset

There are many people who make lot of money and can be potentially financially independent in future, but they don’t. Conversely, there are many people who may not be making much money but can potentially be closer to financial independence in few years. They may or may not get there. But they can at least be on that path. What differentiates the both? Arguably it is the starting point – the mindset – the financial independence mindset.

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What are your FIRE assumptions?

Are you looking to achieve FIRE – some time not in too distant future? Then you would probably have number at back of your mind. This calculations will rest upon some assumptions. – which may or may not always be true. What are some common FIRE assumptions?

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5 underestimated financial risks in early retirement

As a F.I.R.E. aspirant, you make certain assumptions about your post-retirement life, but do you plan out for unforeseen circumstances or eventualities that may arise? Are you aware of the possible financial risks in early retirement?

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Financial Independence versus Financial Freedom

Are financial independence and financial freedom the same thing? While they are often used interchangeably, and there might be lot of overlap, they are not essentially the same thing. If you do a basic Google search, you may find varying accounts of both of these – financial independence as well as financial freedom. The assumptions […]

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Prerequisites before aiming for financial independence

Want to become financially independent (or partially financially independent? ). There is no magic wand but to earn decently, save & invest well and keep expenses low. Doing this, you may reach closer (at your own pace, depending upon your pace!). However, before beginning the journey towards financial independence, there are certain prerequisites, that you […]

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Is Rs 1 Crore enough to retire in India?

If you have Rs. 1 Crore in your bank account, is it good enough to retire? Answering this question in affirmative or otherwise will not make or break your F.I.R.E. journey, in case you are pursuing one. However, it is a common question and asking more subsequent questions can help you arrive at a number […]

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How much money is needed to achieve partial financial Independence in India?

Partial financial independence is a good first step towards complete financial independence (and early retirement, if that interests you!). Getting your numbers and assumptions right is a good first step towards it. This number may be different for different people based upon current savings, expenses, planned major expenses/ life goals and planned “life after partial financial independence”.

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How much money is needed to be financially independent in India?

How much money is needed to be financially independent? It depends primarily upon your lifestyle needs and financial goals. Someone with an extremely frugal lifestyle and no major financial goals would need less. For someone with an extremely lavish & flashy lifestyle, nothing would suffice.

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