Hello from Bangalore

[avanishk]

Hello Everyone,
Just 10 days ago, I came across a guest post from Jacob on GetRichSlowly https://www.getrichslowly.org/early-retirement-extreme/.

Reading that post triggered in me a quest to learn everything Jacob had to share on his ERE blog. Since, then I have spent many hours everyday going through many of his old posts and that continues.

It is interesting to note that some of these ideas have been brewing in many people mind for many many years, yet is not common knowledge and practice for many of us.

As for my financial education, I came across Rich Dad Poor Dad book sometimes in 2006 (while I was living in Los Angeles) and that has significantly changed the way I look at assets, and liabilities. Since then I have acquired couple of Real Estate rental properties, however my FInancial Freedom dream still seemed very far with kind of ROI I have.

Even though my incomes increased quite a bit during the years, I have not managed to control my spending well. My savings rate has been mostly fluctuating between 45%-15%. After reading ERE posts, I have found a new motivation and tools to increase my saving rate now.

Hoping to make positive contribution to this community of FI seekers and make good progress towards my own FI goal, which I have set to be Jan 2027.
I am a married man with 2 kids, living in Bangalore, India.

Best wishes,
Avanish

[Smashter]

Welcome Avanish!I don't believe there are other contributors here from Bangalore, so it will be interesting to learn more about pursuing FI from over there. What is the general attitude toward saving and investing amongst people in Bangalore? Is it like most big US cities, where everyone is trying to climb their way up the status hierarchy while buying the biggest house and the most cars?

Also, are you managing real estate properties in the states from India? That sounds challenging, and sharing your experiences there would probably be of interest to a lot of people here. You should start a journal

Anyway glad to have you on board and good luck with everything!

[wolf]

Welcome. How did you come across the guest post on grs in the first place?

[fiby41]

I am married

There's a journal Liberate Mind: Family Edition which may be insightful to you.
I'm in Mumbai.
Consider starting a journal. It'll get you ego invested and fast track your journey.

[avanishk]

Welcome Avanish!I don't believe there are other contributors here from Bangalore, so it will be interesting to learn more about pursuing FI from over there. What is the general attitude toward saving and investing amongst people in Bangalore? Is it like most big US cities, where everyone is trying to climb their way up the status hierarchy while buying the biggest house and the most cars?

Also, are you managing real estate properties in the states from India? That sounds challenging, and sharing your experiences there would probably be of interest to a lot of people here. You should start a journal

Anyway glad to have you on board and good luck with everything!

Thanks for the welcome! People in India have been savers for long time. With no social security and medicare benefits in place, that is the only way people have dealt with emergencies and tougher economic times. However that is changing, specially in big cities. Use of credit card, personal loans, and other consumer loans (auto loan etc) are being pushed by banks a lot these days and people gladly make use of it to live a more comfortable lifestyle at the cost of paying ongoing monthly debt payments. So yes, it is fast becoming like US in terms of consumer credit usage and fast food consumption, both detrimental to family finances.

I was managing my real estate investments from here for 6-7 of years after moving back. It was not very difficult to manage it remotely as I had a property management company taking care of it. However, I have recently sold them off.

[avanishk]

Welcome. How did you come across the guest post on grs in the first place?

It showed up on fourpillarfreedom.com, to which I subscribed recently.

[avanishk]

There's a journal Liberate Mind: Family Edition which may be insightful to you.
I'm in Mumbai.
Consider starting a journal. It'll get you ego invested and fast track your journey.

Thanks. I will take a look at that journal and start my own as well.

[avanishk]

With your encouragement, I have started my Journal today (viewtopic.php?f=9&t=10964).

Looking for further help and guidance from people who have taken serious steps towards their own FI.

[MyObjectivism]

Hi.. Found this site today while searching for FIRE lifestyle as I am starting my FIRE lifestyle from next month. I am from Hyderabad (but in UK at this moment) and 43 years old.

Will be moving to Hyderabad next month (assuming no travel ban) to kick start new lifestyle. Decided about early retirement last year without knowing term FIRE. Very much excited to see experiences from similar people in the journey.

Looking forward for more posts from India about lifestyle and their journey.

This is my first post in this forum. After posting here, will post more about myself in Intro post.

[avanishk]

Its great to hear from you MyObjectivism. My best wishes as you embark on this new lifestyle.

I am in my mid forties as well and looking forward to retirement by 50. I have been tracking my expenses and working on increasing my passive income for last 10 years. However, I now realize that spending expands to match income if one is not careful. I am now focused on increasing my savings to 60% by end of the year.

Looking forward to be in touch and share ideas and experiences. I would recommend creating a journal to track your journey and progress.

[MyObjectivism]

Sure AvanishK... Will start journal and keep sharing experiences. Great to hear your journey.

Will be in touch. I want to discuss few more things like expenses for a family in Bangalore etc. Will PM you

[fiby41]

assuming no travel ban

Ticket sale with price ₹50k on for those wanting to return via Air India.

[MyObjectivism]

Ticket sale with price ₹50k on for those wanting to return via Air India.

I don't want to use this option for couple of reasons..

1. These special flights are for those who are desperate (stranded) in UK.. for example, students, tourists or parents who came to meet their children. I prefer to allow them to go as I can continue my stay here for few more months and go when things settle.
2. Hygiene.. more people will be travelling in these special flights who were desperately waiting to return to India. Social distancing and other guidelines may be compromised in airports, flight and quarantine facility.

So planning to travel once international flights are resumed to Hyderabad (I prefer direct flight at this moment) and hope next month flights will resume.