This is the financial independence journey of a SIR Community member from Visakhapatnam. I asked him different ‘personal’ questions in the group, here’s his reply in his own words
Background
I’m MK (34), from a small tier-4 town near Visakhapatnam, Andhra Pradesh.
My family includes my wife, daughter, and parents. Currently working for an IT company in Singapore.
FIRE Target Number
I track FIRE in multiples instead of absolute net worth – 75X of annual expenses (liquid assets)
How My FIRE Journey Began
My first salary was ₹28,000/month, and my first investment was a ₹2,500 RD mainly to manage periodic expenses.
For the first four years, my savings were almost zero as I supported both myself and my parents. Once I got an onsite opportunity, my priorities shifted to stability, buying a house and investing in open plots.
I avoided equities initially due to lack of knowledge. Serious investing began around 2019, coinciding with the COVID crash, which pushed me to learn.
I discovered FIRE in 2021 and started investing my whole savings. Over time, I simplified my approach, moving from stocks to mutual funds and eventually to broad-based index funds.
Where I Stand Today
- Lean FIRE (25X): Achieved in 2023
- FIRE (50X): Target 2027 (already achieved if real estate is included)
- Fat FIRE (75X): Target 2030
I track progress using financial assets only; excluding real estate, crypto, physical gold and silver.
Current Portfolio Snapshot
- India Equity (Passive): Nifty 500 Index
- India Equity (Active): PMS (18+ months, positive experience)
- Global Equity: FTSE All-World Index (FWRA)
- Gold: Physical (future additions via funds)
- Silver: Physical (no further additions planned)
- Real Estate: 3 plots across different locations (in native village, tier-4 town and tier-2 smart city)
- Debt: ~10 years of expenses via NRE FDs & REITs
- Loans/EMIs: None
- Crypto: Bitcoin (BTC) and Zcash (ZEC)
Top 3 Lessons from My Journey
1. Avoid direct stocks early in your career
In the early stages, it’s very easy to get influenced, overtrade, and end up with a “zoo” of stocks. Most people eventually underperform index funds or mutual funds.
Until you build a meaningful corpus, stick to mutual funds or simple index funds.
As Morgan Housel says: “If you can earn average returns for an above-average amount of time, you will beat 95% of investors”
2. Focus on income, not returns and avoid bad debt
I started my career in 2013 with a decent package of ₹3.25L per annum, yet my first four years of savings were almost zero.
From day one, I was passionate about securing an onsite opportunity, but it didn’t materialize initially. Eventually, I took a calculated career risk and started looking for opportunities on my own. Despite a few hiccups, that decision completely changed my life not just for me, but for my entire family.
Increasing income through career switches, big roles and global assignments. This has a far bigger impact on FIRE than chasing higher investment returns.
3. Spend intentionally, don’t skip travel
Long journeys like FIRE can be mentally exhausting. Burnout and demotivation are real.
For me, international travel played a huge role in resetting my mindset and regaining motivation. My personal goal is to visit at least 10 countries in my lifetime and I’m already halfway there.
Spend consciously, but don’t forget to live.
Life After FIRE
- Teaching has always been my passion. Due to financial constraints, it wasn’t a viable option earlier. If I FIRE today, I’d actively explore teaching combining real-world industry experience with learning.
- I value respect and purpose over just financial independence. I want my daughter to feel proud in the future. Simply retiring and sitting idle can send the wrong signal to children.
- With time and mental bandwidth, I’d also explore personal stock picking purely for learning and skill-building, without pressure.
One Advice to My Younger Self
On the career front, I wouldn’t change much. But I began equity investing around 29, which I feel was slightly late. Starting even a few years earlier would have made compounding far more powerful.
More discussion on FIRE inside SIR Community – Click here
