We chose F.I.R.E and did not expect this
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- Опубликовано: 10 дек 2024
- We have been retired for almost two years and not everything is as we expected it out to be. In this video, we share three miscalculations that we made during our planning. Hopefully these will help you with your plans and also set the right expectations based on our experience so far.
We promise to keep you updated on our journey over coming months.
Your videos are very valuable. Please continue to share sir! You are truly "returning" valuable gyan to many who will or plan to retire early or otherwise. It helps to know all the things one has to be aware of , plan for (instead of worry about later) etc. Thank you.
Thanks! Glad you are finding the videos useful. Very satisfying and encouraging to see your comments
I work in Bangkok since 2015 and is planning to retire here in a couple of years. Happy to See you both shedding some light into the benefits of retiring in Thailand. I just love this country and the possiblities it has specually for my passion of cycling, biking etc.
We've been subscribed to your channel for a couple months now I think. This was among my favorite videos that you've made. Mostly, I just like the humility as you describe the ego adjustment. But also, you and your spouse are just very likeable and informative.
Thanks for such a lovely comment and your appreciation. Makes it all worth the effort!
Great video. Really liked your third point about people associating their identity to a job or a designation. We are so much more than just a career. Being vulnerable is not easy. Thank you for being authentic and sharing your learnings with the broader community.
Thanks Parul. Was a tough transition to digest from the professional identity to a more holistic one. However worth it!
Really great video and kudos to your level of clarity even after two years of taking the retirement decision and not having any regrets.
Thanks a lot. Appreciate your comment
This is brilliant. Very honest views in professional quality. Thanks for sharing your experiences.
Thanks a lot. Glad you liked it
Same boat , Three years post FIRE !!! .. enjoying every bit of it . Thanks for sharing your experiences
Glad you enjoyed it. Would love to hear your thoughts and experiences of the three years.
That's really a very thoughtful & insightful video. Have been subscribed to your channel for almost 5-6 months now & loving every video you have been posting. Thanks a lot Yogi ji !
Thanks for subscribing and glad you are enjoying the videos
Thanks for sharing your experiences so openly. Good to see you enjoying a different life and reinventing your network. Quite inspirational. Keeps sharing these nuggets.
Thanks so much Umang. Evolving to a new phase of life with a different sense of purpose
Great review of your retired life. It will give others a great insight into what to expect..
Thanks. Glad it is helpful to give a glimpse into our retired life.
Wonderful video.. have always been very self aware especially on the ego and identity side. While in a globe trotting job, still very conscious. This video is very helpful, specifically because me and my wife have a similar track and also planning to check out Thailand as a retirement destination! Thanks a ton to you and Seema for coming up with these videos..
Glad you both are on a similar track. Wish you the best on your journey. Feel free to reach out if and when you need some help with the journey.
@@TheFIREdCouple Thanks! That means a lot!we are still a few years away. But we will surely connect. :)
Loved your calm when you talk not just the content! Looks like Thailand and meditation is working 😂
Exactly why I watched in 2x
Haha. Guess so 😀
Appreciate the honesty !!
Thanks! Appreciate your comment
I appreciate you're work sir. Its helpful for us
Glad to hear that
Dear Friend, I happened to watch a video of yours on moving to Bangkok for retirement with a retirement visa.I liked that, and it prompted me to go to Bangkok with my wife, we are retired and spend 11 days 9 in Bangkok and 2 in Pattaya. I loved it.Wife prefers Europe. I loved the food, the people, the affordability. In fact I spent only 50 % of our budgeted expense. Thanks for the motivation. Regarding your present video, I feel that it's bit repetitive, and if you could have shown that beautiful wooden house a bit, it would have been an icing on the cake.thanks again.
Glad you enjoyed the video and it was an inspiration to travel to Thailand. Not surprised that you managed to spend only 50% of the budget.
Will try to show a bit more of the wooden house we rented in the next video.
Another quality video, sir!! Keep sharing your wisdom with us who are on the path to financial freedom! :)
Thank you!
Another short great positive video. Keep sharing these kind of contents.
Thank you! Will do!
#2 has been hard for me since I get energy from my network. I miss it. I would add #4 (good miscalculation) = not having the time to catch up on many things you love to do because of miscalculating time to be spent on other things you enjoy doing.
Absolutely spot on about the network. Took some time to get used to this drop. Love the 4th one that you mention. Too many things to do and too little time indeed
Love you sir. Stay healthy. Lots of love from our family.
Regards
🙏
Thanks a lot! God bless you
Yogi, I am guessing I am 5-7 years older than you and still 2 years away from getting FIREd. But we have been thinking about retiring in Thailand for a while now and happily discovered your channel a couple of days ago.
Don't know if you have kids. But in the context of regrets, was wondering how you are managing kids, close family, and friends while being retired in Thailand.
Thanks to you and Seema for your content and effort. Cheers. Ram S
Hi Ram, I am sure you are on a rock solid FIRE journey. Hope the information provided in the video helps towards your Thailand retirement plans but feel free to reach out if you need any more help.
We don't have our own kids so in that way it was a bit easy. Though we are very close to our nieces, nephews, friends etc so making them part of the decision process was an important part of our location selection.
Thanks for sharing the nuggets of wisdom. I anxiously visit the FIRE calculator every week to make adjustments - there is always this fear given the market volatility - will this straight line of Safe withdrawl work and will it require to scale down current life style. I think we all beat the excel file to death - thanks to the grounded advise from you - these suggestions are very enriching and will help a lot of us make the right decisions
You are not alone! We all are in love with our excel sheet models 😀
Hi Yogi ..i totally relate to what you said in this video...everything happened like what you said when my hubby retired from his high level corporate job....luckily he has a closed knit of friends to replace colleagues!😊
Thanks for sharing your experience. This is the stage of life when the investment in that close knit of family and friends pays off!
Sir, your problem is a happy problem. Unfortunately, not everyone is that lucky.. family circumstances vary and that can have phenomenal consequences towards retirement. As a compliment, I am jealous about your situation and pray and hope that you continue this retirement trajectory. All the best 🙏🏻
Yes, you are right. Everyone has their own unique circumstances and family commitments.
Everything is good about your videos but I have two questions and first one is important to know so that we may analyse how much we need if we want to spend like you.
1. What is your total corpus
2. What about your kids their education and marriage etc
This will help us to understand how much we need to gather the corpus
Great video. Must needed!
Glad you enjoyed it!
This is so true. There are certain expenses such as wardrobe, transportation to work and socialising coffee/ post work drinks/ lunches / dinner which go fown drastically post retirement and they are not missed at all. Instead they are replaced with healthief habits of taking up active hobbies most of which cost nothing and enjoying cookingmeals at home adding to your health and quality of existence. Identity is the toughest part of the transition and a steep learning curve. How do I get in touch?
Sure. You can get in touch. The email is in the channel info.
I like your simplicity in words❤
Thank you!
And ofcourse, your videos are so well thought out, Thanks so much for thought provoking content
Was a pleasure and glad you find it thought provoking.
Good one. As an ask for content- you mentioned in other videos that you work with many others for their FIRE journey, maybe you can share a few case studies without necessarily giving their names. This will help substantiate the blue prints you have explained in earlier videos.
Thanks for that suggestion. We are trying to make the logistics work for such a discussion. Would prefer a face to face rather than a recorded video conference call.
@TheFIREdCouple Also hear that Thailand plans to start taxing global income. Any thoughts?
Yes that is correct. Fortunately the LTR visa is exempt from that
Insightful content 👌
We met you and Seema at Delhi Airport in October 2024 and it was a fan girl/ boy moment for us 😊 you both are our rolemodels!
Was so nice meeting you both! Wish you the best ... and keep meeting ;-)
Excellent update sir
So nice of you
I think the FEAR of running out of money is widespread among people considering retiring early.
It is an understandable and legitimate fear. That is the reason I wanted to share this video to reassure that if the withdrawal rate is safe and the lifestyle is managed, it isn’t so easy to run out of money
Is the background there your house in Thailand? Wow where are you based in Thailand?
Great reflection...how did you know when you had enough to retire? And now, you've got more than enough it sounds like. That's a great miscalculation👍🏽thanks for giving back by dhsring your experience. I'm in my late 40s and also looking to move to Thailand.
Thanks. This was the Airbnb that had hired while staying in Chiang Mai.
We calculated our enough point’ based on the withdrawal rate (have made a video around that approach). Also, we realized what our expenses peak was (other than the regular inflation). Both these helped mathematically to determine that enough point and give us the confidence.
Enjoying your videos.. do you feel 1 more reason for expenses being less could be the lack of steady Cashflow into savings account?.. as in when the funds are tied up in investments, and there is friction to withdraw any funds from investments, mentally you would kind of think twice before spending any money..
Hmm 🤔 interesting take! Our cash flow was a mix of passive income (dividends, rental and FD interest) and liquidation of certain investments. The withdrawal of investments is always a tough one so you could be right that we were prudent on liquidation as you mention.
You share from your experiential learning rather than bookish knowledge. You speak from your heart.
These really make your video worth watching
Thank you! So nice of you. Glad our learning is resonating with many people
Hi Yogi,
I truly appreciate your insightful video! I was wondering if you’ve ever explored the idea of getting involved with a service, NGO, or similar activities where you could use your strengths to support those in need. I feel such efforts can bring a profound sense of purpose and fulfillment. I’d love to hear your thoughts on this!
Thanks. Yes we support a school for underprivileged children and get involved in the syllabus, sports, school infra etc
Geo - Arbitrage : This is the best way to live. I have stayed in Bangalore, Pune and Pondicherry and my bank balance used to love me when I used to spend in Pondi 😂😂😂
Pondi is an amazing place! Hope it doesn’t lose that charm with overdevelopment
Sir,how much $ amt you had when you decided to retire in Thailand?
Our withdrawal rate was higher than our annual expenses that we budgeted for Thailand
Thanks Yogi! Love the equation of Quality over Quantity!
Indeed. Only now I realize that we have an abundance of quantity during our professional lives
Thank you for sharing. Are you based in Thailand or Vietnam after FIRE or have you moved back to India?
Based in Thailand. 🇹🇭
FIRE should be a retirement aspect. But zeal to work even at 60. Thats FIRE, retiring early is a FLOP
There is no right or wrong. Hit of a flop. People can work till their 50s, 60s, 70s, 80s or more. Whatever suits someone. As we say - Financial Independence is a must. Retiring Early is an option.
Did you visit thailand a few times before deciding to retire there or it was purely based on financial wisdom. Eagerly waiting for video about life in thailand fom indian persepcitve
We visited Thailand a few times. As it was a very big decision, it was important for us to get a feel of the place and stay there for a few times
During your work life you are running behind process, target and priority. Now that u r retired how that mindset is impacting in personal life post retirement. My father tried to show his manager power in my home after retirement like his past and later it didn't worked in front of my mom, ofcourse all home is under control of mom only 😂.
We all have different bosses in professional and personal lives 😉
Yogi loved your video. I think we should bebeneficial if you share your excel fire calculator &yeah I know you don't want to disclose your fire no but just the calculator with arbitary values
Thanks for the idea. Will make it as a template so folks can use it to simulate their own scenarios
Can you pls make a video on staying in Thailand and expenses to be incurred...and if any other place is there as an option
@rajanig4421 I believe they have already made one. Do search their channel there was one on how to choose a jurisdiction covering 3 - 4 cities. Was very informative. There might even be a specific one only on Thailand IIRC.
ruclips.net/video/nnFh_6FR8uM/видео.htmlsi=vsjtbmMiDt4a25Ti
I'm interested in learning a little more of how you manage your post-retirement income and expenses.
I assume you're basically applying safe withdrawal rate on your investments in India and transferring that over to Thailand as needed and using it to fund your current living expenses. Without revealing your net worth, can you talk a bit about how you do that in detail?
Our portfolio and passive income is spread across a few countries so we are indeed transferring what is needed for or local expenses. Will try to make a video detailing the approach of withdrawing from the portfolio as well as using the passive income (rentals, dividends, interest from FDs etc)
Nice sir. V nice as always
Thanks a lot
Hello sir how you have controlled the greed of saving more money? I used to had a target of 5 crore which I have achieved this year thankfully 2.5 crore portfolio of my parents each and about 40 lakhs is my portfolio. Now I want to make it double digit that upto 10 crore….😢😢
Join the club! You are not alone in moving the goalpost. Do watch ruclips.net/video/EXNLQIs9YkE/видео.htmlsi=CI3jlImFFQYmgu2i
Need to know how can i move to Thailand 😢. Everything including rents, banking, crime rate, healthcare, foods, and work opportunity
ruclips.net/video/HEGEPResMOA/видео.htmlsi=-Ruu8iAIsDKuaES3
Pls start making videos on travel etc ..review places etc..thanks
We aren't experts at travel vlogging but will give it a shot!
I don't think you ever talked about living wealth as inheritance to kids ? If you do want to leave it to them then it doesn't matter if you spend less but it will matter if you spend more.
We did address this in some detail. Do watch the video:
ruclips.net/video/Ryoxr_b-fr8/видео.html
Very nice subscribed
Thanks for the sub!
After watching your videos, I often started thinking that we have so much limited time.. But ofcourse, I get busy with work eventually.. I am wondering, how does it impact the retired people
Does it get overwhelming, with passage of age or any exp...
Age passes by all of us. Some have that realisation in time to make the best of it while others get busy with work.
Fortunately it hasn't been overwhelming so far. We have managed to maximise the time filling it with all the stuff that we always desired to do.
I always think that 12 C in India is the FIRE requirement for any family.
Could be
One other thing you probably missed is sculpting a body that screams health, fitness and longevity.
Absolutely! But that wasn't a miscalculation but a continuous goal!
Lets take an example, personal earning 25K per month..got jackpot in sharemarket and created corpus of 3 Crores. if you take 3-4% withdrawal rate then he/she will be in safe zone to take plunge in FIRE...But do you believe he/she will take that plunge...if yes then why? if no then why? my answer will be no...what will be yours.
The answer to that would be based on a few factors, especially the age of the person. If the person is in mid / late 20s, single and early stages of career then the answer would be no. If the person is in mid / late 40s, children settled, career at peak / stagnated, then the answer would be yes.
@@TheFIREdCouple what about factors like common mans desire? person earning 25K would first like to buy 1-2 Crore rupees flat/house...buy car...foreign tour...many more before considering FIRE...
I think with that, you are mixing FIRE with Retire. Buying a house, car etc are all part of the journey to financial independence. As we keep saying in our videos - Financial Independence is a must. Retiring Early is optional.
You had this gap to fill by spending more money? And why would that be a problem....because u would not end up exhausting all ur savings? Because u might be left with some extra money for the rainy day or even to donate...
Yes, the miscalculation is a happy problem to have. The point in the video is more about that its hard to spend money. So as long as people have a safe withdrawal rate and manage the lifestyle inflation, they shouldn't have the insecurity or fear of running out of money.
Sir what was ur age when u retired and what was ur corpus atleast please give us a range
Retired before turning 50.
Our corpus is somewhere between 1CR to 100CR 😉
@TheFIREdCouple is this how u reply ur well-wishers and followers
Well you asked for a range and I gave you one 😀
On a serious note, a corpus range will provide you little benefit or insight as your corpus will be based on your circumstances - spending habits, lifestyle, at what age you plan to retire, where you plan to retire, how much you want to leave behind for your family, what activities you intend to do during retirement and so on. These circumstances can put a person anywhere between that 1CR to the 100CR territory (…or even more maybe)
Congratulations.
Very honest confessions.
I can empathize with your thought process as , I have also followed the path of getting voluntarily retired before turning 50.
Don't term miscalculation in financial strategy.
You are evolving, finding higher purpose to adhere at the same time rejecting the lower materialistic goals.
Once you tasted the futility in materialistic world.. EGO departure is natural consequences.
Pre retirement I presume you were DINK COUPLE.
Otherwise to relocate in different country become difficult.
My best wishes.
Keep evolving 🎉
Thanks a lot for your wishes and do please keep watching the videos and providing your suggestions and comments.
Hi Yogi, I am working on a podcast and video editing is just taking a lot of time and its not very good either.
Can you me reference of your video editor pls?
Happy to email or DM you if you can share contact details, thank you
Sure. Will share. You can find our email on the channel info.
How much % vice tax saving than if u lived in india, kindly let us know?
Living in India would have meant tax on the worldwide income, LTCG, STCG and income tax on local assets. We try to hold assets in NRE account that provides some exemptions while also diversifying internationally. Net net, it does translate to around 10-15% benefits.