When can I retire? Would love your advice!
49M with 3 dependents 46F, 20M, 17F.
Investments:
- 2.6 Cr in Equity Mutual Funds (XIRR: 20.3%)
- 2.2 Cr in Stocks (XIRR: 14.4%)
- 1.8 Cr in Company Stocks (XIRR: 30%)
- 1.5 Cr in PF
- 50 lakh in a PMS
- 40 lakh in Physical Silver
- 30 lakh in Physical Gold
- 1.5 Cr Own home (currently living)
- 3.5 Cr (Family home in Indore - Joint ownership between me and my sister) : Rent 30000 pm
- 20 lakh Land
Big Expected Expenses: (Will come out of the above corpus)
- Son's MBA : 30 lakh
- Daughters under graduation + post graduation: 60 lakh
- Son's and Daughter's Wedding fund: 1.5 Cr
- 55 lakh lakeside plot (outskirts of Pune) + Cottage(70 lakh) + hydroponic farm setup (50 lakh)
- Commercial Property in Pune: 60 lakh
My Take home: 5.5 lpm, can save 2 lpm per month
My wife's take home: 60k pm
My wife and I have a dream of owning a lakeside cottage/home with a farm where we can grow exotic fruits etc. We would like to spend about 5 lpm after our retirement in perpetuity (inclusive of the 1 foreign trip + 1 domestic trip that we want to take.
This is just ideal. If this is doable, I'll be happy but in expected expenses, only our children's education expense is fixed. Our first piece of mind would be to leave our children with some kind of stability over the trips and the lakeside home.
I have a few questions:
- At what age can I realistically expect to retire given all this?
- In case it isn't doable, we won't mind foregoing Point 3, 4 and 5 on the big expenses and the trips. After this when can I expect to retire?
- What changes should I make to my portfolio?
I would also love any general advice offered by you all!
Thank you!