I am sure many of you, after the previous video, would have visited Finnovate.in's tools section and calculated your FIRE number. That was the first step in goal planning—understanding our goals and the targeted corpus.

Today, we will learn how to reach that FIRE number. This is step 2. In the previous example, we saw that a 35-year-old person with monthly expenses of ₹1 lakh aims to achieve FIRE by 55, five years earlier than the normal retirement age, with a targeted corpus of ₹12.2 crore.

How do they reach that ₹12.2 crore? A 35-year-old person, if they start saving ₹1 lakh per month, and their savings compound at 12%, while also stepping up their savings by 5% each year, will hit their FIRE corpus of ₹12.2 crore by age 55.

So, that’s how you can reach your FIRE number! You can book a consultation with us to not only calculate your FIRE number but also create a plan on how to get there.