Before compounding kicks it is really a toil to see that FI is far away. I am trying to simplify and see if I can break the journey to bite size pieces. It is true that the FI number varies for me month on month because the amount spent is different. The FI amount I arrive is 25 times last 12 months expenses. A sudden emergency can derail the journey but its still a good idea to see if I can set some goals.
Today the amount seems to be 80,00,000 so 80k for 1% and contributing 20k will be .25%. If I assume 20k to be single block I need 400 blocks to FI. I have already covered 170 blocks and the distance to cover is about 230 blocks. There will be change in FI money and so the blocks I will have to cover will increase but no one can erase the blocks I have traveled of course a recession can erase some of my distance but in the long run it should help me cover much of the ground.
So here will be distance I have to cover:
1 2 3 4 5 6 7 8 9 10 --- I will have 12k per month of passive income when 10 steps are covered. Achieved it in the end of December 2017
11 12 13 14 15 16 17 18 19 20
21 22 23 24 25 --- I will have 13k per month of passive income when 15 steps are covered. Achieved it in the end of March 2018
26 27 28 29 30
31 32 33 34 35 36 37 38 39 40 --- I will have 14k per month of passive income when 15 steps are covered. Achieved it in the starting of August 2018. Took me 4 months and I am sure next 1k passive will take more time than this.
41 42 43 44 45 46 47 48 49 50
51 52 53 54 55 --- I will have 15k per month of passive income when 15 steps are covered. (2018 target) Achieved in October 2018 as I have added PF contribution from employer as well.
56 57 58 59 60
61 62 63 64 65 66 67 68 69 70 --- 16k per month Achieved in NOvember 2018 as I have added PF contribution from employer.
71 72 73 74 75 76 77 78 79 80
81 82 83 84 85 --- 17k per month Achieved in February 2019
86 87 88 89 90
91 92 93 94 95 96 97 98 99 100 --- 18k per month Achieved in May 2019
101 102 103 104 105 106 107 108 109 110
111 112 113 114 115 --- 19k per month achieved in August 2019
116 117 118 119 120
121 122 123 124 125 126 127 128 129 130 (2019 target) --- 20k per month
achieved in Nov 2019
131 132 133 134 135 136 137 138 139 140
141 142 143 144 145 --- 21 k per month achieved in Nov 2019
146 147 148 149 150
151 152 153 154 155 156 157 158 159 160 --- 22 k per month
161 162 163 164 165 166 167 168 169 170
171 172 173 174 175 --- 23 k per month
176 177 178 179 180
181 182 183 184 185 186 187 188 189 190 --- 24 k per month
191 192 193 194 195 196 197 198 199 200
201 202 203 204 205 --- 25 k per month
206 207 208 209 210 (2020 target)
211 212 213 214 215 116 217 218 219 220
221 222 223 224 225 --- 26 k per month
226 227 228 229 230
Today the amount seems to be 80,00,000 so 80k for 1% and contributing 20k will be .25%. If I assume 20k to be single block I need 400 blocks to FI. I have already covered 170 blocks and the distance to cover is about 230 blocks. There will be change in FI money and so the blocks I will have to cover will increase but no one can erase the blocks I have traveled of course a recession can erase some of my distance but in the long run it should help me cover much of the ground.
So here will be distance I have to cover:
achieved in Nov 2019
146 147 148 149 150
151 152 153 154 155 156 157 158 159 160 --- 22 k per month
161 162 163 164 165 166 167 168 169 170
171 172 173 174 175 --- 23 k per month
176 177 178 179 180
181 182 183 184 185 186 187 188 189 190 --- 24 k per month
191 192 193 194 195 196 197 198 199 200
201 202 203 204 205 --- 25 k per month
206 207 208 209 210 (2020 target)
211 212 213 214 215 116 217 218 219 220
221 222 223 224 225 --- 26 k per month
226 227 228 229 230
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