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TLDR:
- He says it's easier to achieve this if you live in cities like Delhi, Pune or Kolkata than Mumbai.
- He says FDs are useless
- He says need 2X passive income in addition to your salary.
The third point is interesting. Suppose you work at a decent firm from 25 to 40. Suppose you are earning 15 lpa average from 25 to 30, then 30 lpa average from 30 to 35, then 50 lpa average from 35 to 40. Then you need a passive income of 30 lpa average from 25 to 30, then 60 lpa average from 30 to 35, then 96 lpa average from 35 to 40. If you invest wisely, you're probably saving around 15-20 crores in all from age 25 to 40. Combined with family inheritance, one can raise it to 18 to 30 cr, depending on your family wealth. Am I calculating correctly?
P.S. Ignore the fake interviewer who says she is financially struggling and can't afford to retire at 40. Her husband is a super-rich TV and film producer. 🙄