How much wealth we need to retire at 40..?

posted by GD

I'm at the age of 40 now. I have two boys and a daughter; all aged less than ten years. I'm from Kerala. I have a house. And I have 2.5 CR bank FD too. No other things like land, shops, rentals or any other incomes too..

I'm planning to retire from this 9.00am – 6.00pm duty schedules. And I'm fed up with this gulf life too. And started health problems too.. It is been long 17 years in Kuwait.

My question is Can I live my rest of life with only the bank interest from my 2.5 CR fixed deposit amount from bank. Or how much of wealth should I have to lead a comfortable life for the next at least 25-30 years? What are some suggestions from experts..??

Kindly answer seriously.


Like 2   DisLike 2
Posted On 1/11/2017 3:14:04 AM by Police

A faint smell of a masala topic.....

Posted On 1/11/2017 3:20:54 AM by Pensioner

My child finished education and working. My only liability is to spend money on his marriage.
If you have own house you need Rs. 5 laks per year to live comfortably. I have around 1.25 Cr in liquid cash so this way I can live for next 20 years without doing anything.

Now calculate how much money you will need since you have 2 school going children

Posted On 1/11/2017 4:47:27 AM by GD

Pensioner... Thank you very much... anymore comments..???

Posted On 1/11/2017 5:07:36 AM by S N

Hi GD,
I am more or less in your line, but thinking of having better financial security before leaving current job, may be another 10 years more as salaried class.
I think what you need to do is to make estimate of your expected expenditure back in home town, school, food, entertainment, social get together, functions, donations like wise.
See if it matches with your income from bank FD.
As simple as that, right?
Good luck

Posted On 1/11/2017 8:18:13 AM by goal ...

That is okay, 10 years & 20 years expert's calculations..
But can you sit for even 10 days without doing anything ?

Posted On 1/11/2017 8:19:49 PM by aa bb

yes I am 36 now. n already fed up of gulf life of last 14 years!!!!!!! . I am also thinking to settle in India. but don't know how to survive there with family and school going kids ? I don't have too much cash in bank.

Posted On 1/11/2017 8:28:04 PM by dhiru bhai

you must pack your bags and leave my freind by you will find more difficult in india than kuwait after 17 years , life is a constant struggle until death , i advise you do what you always wanted to do in life may be farming , business , socialising , etc but i advise you for an active lifestyle .this 2.5 crore give in charity for poor or orphans ,do not make life run by interest money ,all the best my friend.

Posted On 1/11/2017 8:35:04 PM by Kishku

Mark my words...


Posted On 1/11/2017 8:36:07 PM by RG

When people come to kuwait , no one asks how much years it takes to make a crore rupess, but when your a bit tired they ask how much you need to relax back home. count your blessing and leave the country without making noise and just like the way you came here, rest leave it to God.

Posted On 1/11/2017 8:49:33 PM by Hiho

Rs. 2.5 Crores will fetch you an interest of approx. 1.45 lakhs per month (@7%) on which you will have to pay income tax. Assume you get 1.2 lakhs after interest.
You may need 75 lakhs for your expenses if you are living in a city and say 50 lakhs if you live in a village. The balance is your saving. So you should be able to save Rs. 50K from interests every months.
I suggest that you put that money into shares or mutual funds/ SIP, which should fetch you higher returns than your FD. You will also be paying less tax on your gain ( e.g. long term gains are not taxable at the moment).

Posted On 1/11/2017 11:52:17 PM by EK EK

@GD kindly tell your fellow Indians how you managed to save this sum in such a short time.. it will be an education in itself..
a serious question..thank you...

Posted On 1/12/2017 12:32:47 AM by Jacob Thomas

It is an interesting case study. I have completed 15 years here and reaching 45 years. I was getting salary 900 at the beginning and now around 1600. I could manage to save so far only 1.8 Crore. May be my family with two kids of Class 9 and 7 with me from the beginning. The going back to home land thinking prop up my mind occasionally. But what to do there is the big question. There are some plus and minuses of living here. The most negative aspect is lack of social life, entertainment avenues, losing festival and other family functions etc. Positives are decent infrastructure, less work related tension, tax free savings etc.
Overall I feel continuing here is better than going back to home land. Sometimes feels the decision taken then to leave job there just for money was a mistake. But circumstances then were different. Even now people are leaving decent jobs and coming here just for money. So it is all personal decisions.
I advice to GD is to forget the idea of going back. If the working hours not comfortable just try to find another job or adjust mind to adapt to the working hours (more practical). At this age resettlement is a problem. Or if ready to take risk consider Canada option.

Posted On 1/12/2017 1:52:22 AM by Khan1

"Money is to use and life is to live, nobody is able to use the money after death"

Posted On 1/12/2017 3:37:20 AM by Sunny Kutty

@Khan 1
Life is to live. Any clear cut definition for living. It is all depending upon person to person. Some people like to sit idle, some used to drink favorite whiskey, some like watching film, some like watching news on TV, some are food loving, some other have some other likes. Similarly some do loving money knowing well that the money they are generating is not going to be useful to them. Examples and Warren Buffet, Steve Cooks, etc. They have money that me or you cannot imagine. Why do they want to work still? See the way Steve or Facebook owner dresses. Very shabby from our perspective. See how and where Warren Buffet living. Still in an old fashioned three bed room house. they have no problem in traveling in economy class tickets.
In summary if one is happy with what he/she is doing that is the best way to live. Not just imitating someone and doing things not liked or favorite.

Posted On 1/12/2017 4:35:11 AM by AJ

It all depends on how you adjust to the situations and it varies from person to person. "Wealth" is not mandatory to retire. I saw many people living happy & peaceful life without having HUGE bank balances or wealth. So it's upto you to decide.

Posted On 1/14/2017 12:28:30 AM by Khan Khan

"good food is good for your body, your soul;
good wealth is good for your body, your soul "

"every living being born with the knowledge of good food & wealth, only human has options to reject the good and select the bad"

Posted On 1/14/2017 3:31:45 AM by ad

Hi dear i was in kuwait for 10years with my wife and two kids i had a saving around 20 lakh in my account and a 1bhk flat in mumbai brought for 28 lakh in 10years last year in march i settled in mumbai with in one year i made 3lakh saving apart from kuwait savings i have invested in real eastate buisness.we are very happily leaving here in mumbai wife and children are enjoying here got a good school for kids and wife staying at home and taking care of kids brought a car maruti suzuki for medical expences i have opened medeiclaim which will cover 8 lakhs a year for family of four and also taking care of my mother every weekend we go for a outing dinner movie very peacefully leaving with less have a lot just come back and settle down in india thats enough for you to leave peacefully for rest of your life since you might be 50 plus of age i came back when i was 40yrs last year.i still follow iik forum in india its very good

Posted On 1/14/2017 10:47:11 PM by Shameel Usman

Shame on all those who are living with interest money!! Shame on you!! You are just eating up poor people's money!!

Posted On 1/14/2017 11:08:06 PM by WantLoan

Shameel Usman- Are you willing to give me or anyone else interest free loan? If not, your statement doesn't have any value.

Posted On 1/14/2017 11:16:05 PM by Shameel Usman

@Wantloan, We already have an interest free banking network in India. Which will soon become popular all over the world.

Posted On 1/15/2017 12:41:37 AM by Kochi King

several times this has been discussed in this forum. before going back, make sure that you have a source to generate monthly income and the income can be increased according to the change in cost living. Bank interest will not help as the rates have come down last week and are not dependable. eg; a person getting interest income of 70K monthly (1CR @8.5%) will hence forth get only Rs57K monthly due to reduction in rate (1CR @6.9% todays rate) so bear in mind...u should have a monthly income generating investment other than FDs.

Posted On 1/15/2017 1:47:57 AM by Indian Friend

@Shameel Usman;
could you mail me the details pls, [email protected];

I wanna be a part of this good work.

Posted On 1/15/2017 2:14:31 AM by Shameel Usman

@ Indian Friend, for you.

Posted On 1/15/2017 2:38:10 AM by WantLoan

@Shameel Usman- Some call it interest, some call it share of profits. Interest is paid by using the deposit money in some form of business.

Posted On 1/15/2017 3:27:28 AM by Indian Friend

Don't say interest & profit are same, people will start saying bribe is also a kind of business.. yes both are money but there is lot of difference
- Money is called black money why

Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein. Al-Quran 2:275

Posted On 1/15/2017 4:27:24 AM by xxx

Do you want IIK members to tell you how many cloths you should buy in next 20 years. Do you expect IIK members to advice you how many time to ***## . Go to hell. Adding masala topic here. Don't know why people respond to this kind of questions. There are 1000s of people work years here and not able to save anything and you are just worried how much more money you need. Shame on you !!!

Posted On 1/15/2017 8:25:34 PM by BSS

dear ad,
I am impressed with how u are well settled in Mumbai. please tell me in detail what is ur qualification, wat job u did here and what job exactly u r doing there for monthly living. I also want to shift to India but want to plan well for family and kids. please give me your whatsapp no. or email to contact you. my whatsapp number is 00965-99108262.

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