Money is the best employee !

[Mohanish Nehete]

So, I have been studying stock market since I was 17 years. Not much profitable years but I learned a lot in past few years.

Now I am 25 year old and I am planning to retire around 32 - 35.
WOAH!!!! that's way to early Mohanish. I know some of you will say that

But, my main goal is not be rich, but to have constant passive source of income something equal to my salary.

So, As all the people here are full of knowledge and experience more than my age. I would request your input to devise me a plan for such early retirement like steps and goals to have.

I would be happy to connect with everyone and yes, I do not like to give up !!

 

[Ronstar]

To put it in simple terms - save a lot more money than what you spend.

 

[ShokWaveRider]

In India your COL may be far less than here in North America. But your salary may be less also. I think Ronstar above hit the nail on the head. Only invest money that your are prepared to lose.

 

[KarlH]

The general formula seems to be target your savings towards a goal of 25-30 (or more) times your annual living expenses. Keep these in an investment portfolio that tracks general market gains (ETFs are great, but I like dividend paying stocks as well). Over time, the investments grow with general market trends, while you withdraw from the savings at a rate of 3.5-4.0% annually.

Retiring in your early 30s may be a bit optimistic, but its a great goal to have. Good Luck.

 

[O2Bfree]

Be sure to have some ideas about what you will do with all of your free time for so many years after you retire!

 

[njhowie]

Keep discretionary spending down. No need for overpriced cellphone/internet/cable plan - take the cheapest that allows you to do what you need to do...streaming video on your phone is not something you "need" to do.

Look to reduce spending on your major expenses - home/rent, insurance.

Don't worry about the small things.

For someone young like yourself, I'd recommend Ramit Sethi's book "I Will Teach You to Be Rich"

 

[Bob_Walter]

What do you mean by studying the stock market?

 

[WyomingLife]

I can't speak to the situation in India.

With typical caveats applied (YMMV, these issues are complex, simple metrics/formula gloss over a lot of details, etc., etc.), see the following regarding retirement date as a function of savings rate:

https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

https://networthify.com/calculator/...0&expenses=20000&annualPct=5&withdrawalRate=4

Reading the above, if you wanted to retire in 10 years (at age 35), your savings rate would need to be circa 65% between now and then (and again, applying lots of assumptions, caveats, etc.).

For what it is worth, I'm in my late 50's and frugal, yet we still don't have enough "passive income" to make it (considering health care, etc.). I've been chasing passive income for a long time.

Good luck and let us know how it goes.

 

[Retch The Grate]

Basically you are aiming for the Early Retirement Extreme model, totally doable, check out Jacob's blog at http://earlyretirementextreme.com/ though it is worth noting that he later was offered a job that interested him and started working again. To get done super early, you are going to have to focus on extreme frugality to get the amount you need as small as possible, since you won't have time to make the amount you have be very large.