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law firm partners, historically speaking, do not achieve FIRE. The number of people who do it are statistically insignificant. Also, those who make that much money don't really want to retire early, they love the grind and the game.
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With all the threads about T1 equity partners earning 20 crores a year (the number seems to increase every 5 minutes) surely this can’t be true?
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Exactly my doubt. One would like to think that 15 years in a T-1 would allow one to FIRE.
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Do you actually know about inflation when you decide to retire? What if there's hyperinflation like Zimbabwe? What if there's a disease that takes away most of the savings. What if there are other unforeseen things.
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What some law firm-ites in India have done instead of FIRE is FIRE-TAJ: Financial Independence Retire Early Teach at Jindal. You get a safety cushion.
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The problem is people increase their expenses in direct proportion to an increase in their income, to keep up with the lifestyle of their peers. This leads to fire on bank a/c not retirement
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