A woman from India has retired at the age of 35 after saving nearly (Rs 5 crores) with her husband Pradeepan, 40. They did it by cutting down on their expenses.
STORY OF HER LIFE
Srinivi retired at the age of 35 with Rs 10 core in savings
She used to save her pocket money as she enjoyed watching it grow instead of spending it
Sri now runs a Finance School, Provides a free 10-week online course to help people get control of their finances
Sri's family had enough to live comfortably. however, there was very little money for fancy holidays or meals out. She used to save her pocket money as she enjoyed watching it grow instead of spending it.
She met her husband Pradeepan during a volunteering project in Gujarat in January 2015.
"We returned to South India as a couple, and I began a degree in statistics at University College South India, where I lived with my parents, eating cheaply and not buying new clothes, as I hated the thought of getting into debt," she said.
After graduating in 2018, we moved in with Pradeepan’s mum in Gujarat so we could save for a house deposit, while I worked as an actuary earning Rs. 3,85,000 a year. Pradeepan was self-employed on a variable income, teaching businesses how to do presentations.
She added, "We ate packed lunches, drove a second-hand two Wheeler and invited friends over instead of going for expensive night out's. We saved hard and in November 2020 we had enough to put down a Rs.12,00,000 deposit on a Rs. 35,65,000 two-bedroom flat in South India."
The couple got married in July 2016. They kept their costs as low as possible by hiring the local community hall, emailing the invites and getting a friend to do the decorations.
She was earning Rs. 5,50,000 by late 2018 but was determined to keep her expenditure low. The couple put away Rs. 30,000 together every month.
In 2015, Sri read about the FIRE (Financial Independence, Retire Early) movement which suggests keeping expenditure low and save every penny you can. Sri and Pradeepan researched and studied the stock market to increase their chances of making money.
Sri said, "It wasn’t because we didn’t enjoy our jobs – it was about financial freedom and quality of life. To bring in more money, I quit my job and began working as a contractor.
She added, "Some friends and family thought we were mad sticking with our modest flat and old bike, but we were prity much focused and studied how to invest in the stock market. By September 2020, we had approximately Rs. 4,50,00,000 in savings and investments."
They reached their goal of Rs. 5 crore between March and April 2021 after which Sri decided to retire. Pradeepan supported her decision but he chose to not fully retire. He still manages his business but is not involved in day to day operations.
They began to live a nomadic lifestyle, travelling everywhere from Himalaya to kanyakumari, keeping them fit by cycling, hiking, etc...
Their investments now generate Rs. 12,00,000 a year.
Sri now runs a Private Finance School, a free 10-week online course to help people get control on their financial expenses.
To many people, a big house and designer clothes signal success, but I have freedom and choice, which i felt is the biggest success of all. She said!
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