The article discusses Yogesh S. and Seema Devgan’s retirement planning strategy, which involves embracing the Financial Independence, Retire Early (FIRE) concept.
The FIRE movement encourages financial independence through disciplined budgeting and aggressive investing, allowing individuals to retire before the traditional age of 65-70. Yogesh and Seema made conscious financial decisions, avoiding luxury purchases and shifting their investment focus to real estate investments, providing significant passive income. This allowed them to save nearly all their income in the final years leading up to retirement.
Their goal was to achieve a “FIRE Number” – a savings accomplishment that would allow them to cover their annual expenses through passive income. They now have assets valued at 35 times their yearly budget.