I retired ahead of my peers at early 50. It's true that it is difficult to find common topics when meeting up with friends or ex-colleagues due to different life stages. I have also lost a long time friend who wish to retire like me but couldn't. After retired for 2-3 years, I tried working in simple part time work but still find it difficult to adjust. So I expanded my social circle by doing voluntary work, taking up courses to learn new skills, learn new hobbies, travel etc. perhaps I can set up an "early retirees club" to facilitate networking and socialisation amongst folks in this category....hahaha 🤣
If a person is retired. That person will remain retired already but if that person takes a course or chooses to work even as a part timer, he or she has come out of retirement to work. Well, nobody knows what retirement means after all. A retired person does not WORK at all. Cheers all.
@@kiatsan5781perhaps you have not retired so don't think you can fully understand the initial adjustment one has to make after stop working. Your definition of retirement is NOT working and NOT taking up courses, while my definition of retirement is doing voluntary work (it is still work but no pay) and taking courses like guitar, drawing, gardening etc...retirement for me is not to "retire from" and do nothing at home, to me retirement is to "retire into various hobbies and activities that I have never done before or no time to do because of work commitments previously, travel to various places I have never visited to experience different kinds of life, and to consistently learn new things that keep me occupied and enjoyed fully...hahaha 🤣
I believe his expenses will eventually deplete his savings, as it took me 3-4 years to burn through $200k while supporting elderly parents. It's better to take market risks earlier rather than later when the timing may not be right. While he's fortunate to have a high-paying job and may remain lucky, I’m more concerned about those who aren't as privileged. A minimalist lifestyle, focusing on eating less, playing less, and interacting less, might be a better approach. Using extra time to meditate and gain wisdom before life ends can lead to greater fulfillment and peace.
This person has more than enough to retire from 41 all the way to 65 once his CPF LIFE kicks in. I would say he did an excellent job in topping up to FRS levels to secure his future. All the possibilities and scenarios/outcomes of outsiders putting him down are just sour grapes who cannot even achieve what he did. Come on, max FRS, flat fully paid and 600k in hand (safe bonds somemore)? And we are criticising him of not being in equity? This guy is a hustler. Kuddos to him. I bet none of the bagholders will come close to beating him at age 41? Only Kevin is pragmatic here. Salute!
Our friend is suffering from a burnout. Treat the current situation as a sabbatical. Then continue working although he has a choice of continuing in a similar role or a smaller role. Good luck.
If his $400k is to last 15 years or so, actually can split half. Half into Tbills, FD etc, the other half can put into sg bank shares, easily receive dividend of $10k per year, manageable risk and potential capital upside. With the additional passive, his 1st $200k can last 20 years based on his drawdown.
Agree with Kelvin. If we learn to be frugal from young, can FIRE esp if one has an education and a stable job to allow cash accumulation. However, most aspire for 'better lifestyle' be it housing, car, travel, appearance/dressing ... and those who decide to start a family ... to each his own.
20k is only the last 2 years. Why not milk it dry for a few more years. He can quiet quit, do the bare minimum and if he gets fired then ok la he had planned to quit anw z
In capitalism where we're always comparing ourselves to our peers or eyeing how the grass is greener on the other side wanting more and more things, you have to draw a line when enough is enough because you'd think back in the day Bernie Madoff with hundreds of millions of dollars of legit business money is enough, but he had to resort to Ponzi schemes because he desired even more.
Jack Ma said: "when you're 40 to 50 years old, you should do things you are good at." "When you are 50 to 60 years old, spend time training and developing young people, the next generation," "When you are over 60 years old, you better stay with your grandchildren." Do something more meaningful and keep busy but happier is more important then retired and not contributing....health is wealth.
I personally feel that rental income should be seen as a bonus. If the Singapore economy goes downhill, there's a chance that hdb flats and condos cannot be rented out
@DYeong u should know rental market dont depends on malaysian. Now ardy 200k in and out meaning they live in JB. So not much different with RTS. Malaysia will never allowed indian chinese pinoy working in sg to rent in JB
I used to think FIRE/barista FIRE was the dream. But I have come to realise that life can be quite meaningless and boring... that's just me though. So now my aim is to achieve FI but continue to work in my crappy but challenging job
life doesn't have to be meaningless and boring. unfortunately, most people fail to reflect or explore possibilities. there's so much out there. FI doesn't mean "uhp, no job, what next? someone tell me what to do because i don't know what to do" that's how we're wired since we're young in school. you have to create your own life. even if you continue to work, FI gives you options and flexibility, so like wolf said above -- why not look for a different job?
Another great video folks! I'd just like to share my humble opinion: 1. How much you have set aside for retirement is relative. To some, $600K is enough, to others, it may be $6 million....or more? 2. Never buy things you cannot pronounce. 3. Never buy things you don't need with money you don't have to impress people you don't like. 4. Buy time with money. Try not to sell too much of your time for money. (ie: invest & compound your savings). 5. The 'Prospect Theory' aka, loss aversion theory holds true. Fortune always favour the brave.
What are your thoughts about an age 35, fully paid HDB 5 room (6 years old), CPF SA hit FRS amount, and $1 million+ in cash and liquid instruments like T bills, SSB, Govt Bonds?
That’s quite impressive given the young age. My comment is similar to those I made in the video, you need to start thinking about inflation and purchasing power of your cash and liquid investment. The money sounds a lot given based on today’s price. But it will erode over time. You need to own more real assets e.g. stocks and real estate
I think he is OK to retire... $600000 / 25 years = $24000 per year, which is what he needs. He can definitely rent out a room from his flat to give him another $6000 to $10000 per year. Then CPF Life kicks in to secure him $36000 to $48000 per year. If the concern is retire for 5 years and cannot be hired; seriously?? He is earning $20000 per month now. Can just register a company and be consultant for $6000 per year. Having said that, I do agree that having buffer is important and $600k is cutting slim for my comfort and mine alone. Yet at the same time, how much buffer?
I'm 37, stopped since 30. TBH kids alone takes up almost all the time. I have plenty of things on my plate to take up all the time that a 9-5 job used to dominate, including working for myself. I don't like to call myself FIRE. I just feel free and filled with purpose and fulfillment.
Everyone is different, it may be a challenge for you but may not be for some. Too young is subjective. There are other purpose in life other than working. If there’s no salary will you still work? Most people work to survive.
@@heartsnstars8282 There are some who really enjoy and have interest in their work but unfortunately most ppl dont fall under this category......most work for the money, Then there are those who lost purpose in life, use working to fill their time even not interested in the job.
Rent out his flat and explore the world, very affordable to stay in Southeast Asia or go Georgia 🇬🇪 1year visa-free stay for Singaporeans. Wonderful food and wine, beautiful places and people.
He wanted to retire early because he disliked the heavy responsibilities. Since he saved enough, he just wants peace of mind, to travel, and avoid office politics.
I think it's wrong to think that anyone who comes out from retirement is not worth hiring. Next Nike CEO is someone who just came out of retirement (2020) to lead a billion dollar business. I am also aware of locals who continued with their companies as consultants even they are past their retirement age because they feel that they can still contribute. Let's be real, it is arguable to think if someone who has bills to pay would be more motivated than someone who does not. Every individual has different motivations to work so surely it cannot be just dollars and cents?
In theory I agree with you. But if you have friends who have taken a long break and decided to join the workforce, you can ask for their experience in looking for job again. And if you know anyone who is in the recruitment business (e.g. HR, recruitment), try to get their view on the hiring manager’s attitude. Of course if the person has highly sought after skill, all these not an issue. But if you are someone who is average, the chance is lower compared to someone who is currently in workforce. Even skills also can become outdated.
This video did not mention about supporting his parents when they are old. Maybe his parents are very financially independent too. It’s easy to say he should work another 1-2 years but he’s probably very burnt out to quit in the middle of the year instead of waiting until end of the year to take his bonus. Anyway don’t assume anyone who is retired will just lie at home, he can clean his house, exercise, cook and take up some hobbies.
When you are older and fell sick, you need a Full Time helper which wll cost 2000/ a mth in 10 yrs time😢And medical insurance costs more as you age esp aft 65..around 2000/ a year
Planning to FIRE is absurd. If so desired, one should aim to be FIRED - Financially Independent Retire Early with Dignity! In today’s SG context, one could probably live with comfort and DIGNITY basing on SGD4,000 per month (without children and no debts, house fully paid etc) that will cover all needs plus some of the less costly wants, including but not limited to sudden medical bills and unforeseen expenses etc. Also, the monthly expenses shall be adjusted accordingly with say, a 2.5% annual inflation in mind. In short, one must ensure sufficient savings to enjoy being FIRED!Simply put, forget about FIRE!!!
. Creating buffer is always very subjective. Your kids may not be able to survive so you create buffer for them and how much is that buffer for them? Meanwhile the golden handcuffs is too attractive to cut it, so bear with it.
I agree too if all he wants is a simple life and going about that simple life all the way till it ends, it's likely enough. His current state is at least slightly better than average already, if he can't survive with this, half the population would not survive. You can never prepare enough for all the unforeseen. Say you suddenly have a wedding, 5-star hotel is a wedding, buffet at void deck is also a wedding. Prolong death is an option, cannot afford to treat it and passing on in pain due to it is also an option. However, if the reason for early retirement is to relax and do nothing, my opinion on him is disappointment, that someone as educated is not contributing back to the society and family that have supported him and made him who he is today, and not living a more meaningful life. He can take up an easier or part time job or hobby instead when he decided to retire early.
If your life, social circles and conversations revolve around work, then it is rather sad. Secondly, these panelists default mode is "work". Hence everything is referenced around earning more eg find hobbies that can generate income etc. However, a lifestyle designer's mindset is quite the opposite - if you have enough money to get to a life where you own your time - then go for it. The true asset in life is Time. No amount of money can buy you Time. So it doesnt matter if you want to spend your time sleeping more, cooking, exercising, taking a walk, reading, engaging with your community, enhancing your spiritual development etc. The fundamental truth about life is: You have Limited Time - about 83 years (some get really much less). Every year is one year less to live.
Everyone is different I guess… but I would find working and having a lot more guilt free spending budget from 40-55 to be a much less miserable lifestyle… LOL!
All these dreams of "retiring" have to be taken in context of Wealth Effect happening now in SG due to inflated valuations of HDB flats, full employment/high wages, and USA stock market bubble and calm SG stock market. Too many singaporeans behave like him and productivity and innovation will drop fast. You keep blaming foreigners and rents and consumption will also plummet. How many of you remember 2003 when foreigners avoid SG because of SARS and religious extremism post-9/11 and Bali Bombings?
You notice those that complain about these things you mentioned are usually those without any discernible skillset to compete? Either stuck in a dead end job or scared sh1tless about being found out and fired because they are fraud. These are the ones that complains the most about everything under the sun. And Gen Z.
Best alternative is to apply for Malaysia My second home - special economic zone category, age greater than 50s only need to commit USD32,000 in fixed deposit and buy a cheap existing condo from a developer in the economic zone…….10 years renewable multi entry permit. Your 600,000 can then lead a comfortable retirement life.
Use an excel spreadsheet and calculate. if you spend $13k per year, your 500K will deplete to dangerous 5 digits at age 90. Have not cater to inflation yet. So you need at least annuity like CPF.
In capitalism where we're always comparing ourselves to our peers or eyeing how the grass is greener on the other side wanting more and more things, you have to draw a line when enough is enough because you'd think back in the day Bernie Madoff with hundreds of millions of dollars of legit business money is enough, but he had to resort to Ponzi schemes because he desired even more. These must be troll comments because people from far less prosperous countries, war-torn countries even, find a means to survive and here these guys are talking about how 7M is not enough.
Hello Guys, yr wives wont like you to retire so early, thats the reality.😂Unless you go out to volunteer 3 tmes a wk and do all the housework & cook for the family.
This is not FIRE and this is not retirement. At this level of savings this is just not enough for even 10 years, let alone retirement till age 85. Please get back to work and stop entertaining these ideas of back packing and holidays.
I retired ahead of my peers at early 50. It's true that it is difficult to find common topics when meeting up with friends or ex-colleagues due to different life stages. I have also lost a long time friend who wish to retire like me but couldn't. After retired for 2-3 years, I tried working in simple part time work but still find it difficult to adjust. So I expanded my social circle by doing voluntary work, taking up courses to learn new skills, learn new hobbies, travel etc. perhaps I can set up an "early retirees club" to facilitate networking and socialisation amongst folks in this category....hahaha 🤣
Add me if you have created the the early retired group. 🎉🎉
@@hanslee5666 Sounds great. May I know which social media platforms are you active in? Facebook ? Instagram? Feel free to suggest
If a person is retired. That person will remain retired already but if that person takes a course or chooses to work even as a part timer, he or she has come out of retirement to work. Well, nobody knows what retirement means after all. A retired person does not WORK at all. Cheers all.
@@hanslee5666. I'm only semi retired. I'm 54 yrs old today.
@@kiatsan5781perhaps you have not retired so don't think you can fully understand the initial adjustment one has to make after stop working. Your definition of retirement is NOT working and NOT taking up courses, while my definition of retirement is doing voluntary work (it is still work but no pay) and taking courses like guitar, drawing, gardening etc...retirement for me is not to "retire from" and do nothing at home, to me retirement is to "retire into various hobbies and activities that I have never done before or no time to do because of work commitments previously, travel to various places I have never visited to experience different kinds of life, and to consistently learn new things that keep me occupied and enjoyed fully...hahaha 🤣
I believe his expenses will eventually deplete his savings, as it took me 3-4 years to burn through $200k while supporting elderly parents. It's better to take market risks earlier rather than later when the timing may not be right. While he's fortunate to have a high-paying job and may remain lucky, I’m more concerned about those who aren't as privileged. A minimalist lifestyle, focusing on eating less, playing less, and interacting less, might be a better approach. Using extra time to meditate and gain wisdom before life ends can lead to greater fulfillment and peace.
Boon Tee is wise at his age. People want to retire early more due to tiredness or no interest in the job. He can tell this.. He has a insight
Agree to this actually.
This person has more than enough to retire from 41 all the way to 65 once his CPF LIFE kicks in. I would say he did an excellent job in topping up to FRS levels to secure his future. All the possibilities and scenarios/outcomes of outsiders putting him down are just sour grapes who cannot even achieve what he did.
Come on, max FRS, flat fully paid and 600k in hand (safe bonds somemore)? And we are criticising him of not being in equity? This guy is a hustler. Kuddos to him.
I bet none of the bagholders will come close to beating him at age 41? Only Kevin is pragmatic here. Salute!
Our friend is suffering from a burnout. Treat the current situation as a sabbatical. Then continue working although he has a choice of continuing in a similar role or a smaller role. Good luck.
If his $400k is to last 15 years or so, actually can split half. Half into Tbills, FD etc, the other half can put into sg bank shares, easily receive dividend of $10k per year, manageable risk and potential capital upside.
With the additional passive, his 1st $200k can last 20 years based on his drawdown.
That guy is smiling all the way watching the responses. So happy for him! 🎉❤
Agree with Kelvin. If we learn to be frugal from young, can FIRE esp if one has an education and a stable job to allow cash accumulation. However, most aspire for 'better lifestyle' be it housing, car, travel, appearance/dressing ... and those who decide to start a family ... to each his own.
Exactly 👍🏻
Thanks, guys for the video!
Good show. Always enjoy your programme. Down to earth and relate to commoners. :=)
The best way to feel like a Rat in the Rat Race is to exit Raffles Place MRT 8.20am Mon-Fri!
When I FIRE, and feel bored out of my mind, will go Raffles Place have bfast and do people watching. Schadenfreude 🫣
20k is only the last 2 years. Why not milk it dry for a few more years. He can quiet quit, do the bare minimum and if he gets fired then ok la he had planned to quit anw z
Dont retire, work till die and at same time enjoy life to fullest. Make all time quality time like going travelling, eating enjoy with friends etc.
I have 1.1 million net worth at age 41 and I’m still worried about retiring early . He is quite brave to do so with that amount.
1.1m u cant retire meaning u r high spender. I am sure u can if u dont spend anyhow
In capitalism where we're always comparing ourselves to our peers or eyeing how the grass is greener on the other side wanting more and more things, you have to draw a line when enough is enough because you'd think back in the day Bernie Madoff with hundreds of millions of dollars of legit business money is enough, but he had to resort to Ponzi schemes because he desired even more.
Impressive
Jack Ma said: "when you're 40 to 50 years old, you should do things you are good at."
"When you are 50 to 60 years old, spend time training and developing young people, the next generation,"
"When you are over 60 years old, you better stay with your grandchildren."
Do something more meaningful and keep busy but happier is more important then retired and not contributing....health is wealth.
I personally feel that rental income should be seen as a bonus. If the Singapore economy goes downhill, there's a chance that hdb flats and condos cannot be rented out
The moment RTS between JB n Singapore is up and running, the rental and the house price may(I repeat may, because I am no expert) come crashing down.
@@DYeong the possibility is there but not to the level of crashing
See if u wan to vote opposition lor. Opposition like chee will make sure thatbwill happen
@DYeong u should know rental market dont depends on malaysian. Now ardy 200k in and out meaning they live in JB. So not much different with RTS. Malaysia will never allowed indian chinese pinoy working in sg to rent in JB
@@jon8697We will become very poor of Chee Soon Juan rules Singapore 😂
I used to think FIRE/barista FIRE was the dream. But I have come to realise that life can be quite meaningless and boring... that's just me though. So now my aim is to achieve FI but continue to work in my crappy but challenging job
Why not look for another not so crappy job instead if you are FI already?
life doesn't have to be meaningless and boring. unfortunately, most people fail to reflect or explore possibilities. there's so much out there. FI doesn't mean "uhp, no job, what next? someone tell me what to do because i don't know what to do" that's how we're wired since we're young in school. you have to create your own life. even if you continue to work, FI gives you options and flexibility, so like wolf said above -- why not look for a different job?
if u sit in office collect free salary will u wanna retire early? if u go office and get scolding from bosses everyday will you wanna retire fast?
255k in OA + 200K in SA + 400K SSB, Tbill etc + Fully paid HDB
Today's topic is good ❤
Another great video folks!
I'd just like to share my humble opinion:
1. How much you have set aside for retirement is relative. To some, $600K is enough, to others, it may be $6 million....or more?
2. Never buy things you cannot pronounce.
3. Never buy things you don't need with money you don't have to impress people you don't like.
4. Buy time with money. Try not to sell too much of your time for money. (ie: invest & compound your savings).
5. The 'Prospect Theory' aka, loss aversion theory holds true. Fortune always favour the brave.
What are your thoughts about an age 35, fully paid HDB 5 room (6 years old), CPF SA hit FRS amount, and $1 million+ in cash and liquid instruments like T bills, SSB, Govt Bonds?
That’s quite impressive given the young age. My comment is similar to those I made in the video, you need to start thinking about inflation and purchasing power of your cash and liquid investment. The money sounds a lot given based on today’s price. But it will erode over time. You need to own more real assets e.g. stocks and real estate
He or she is doing well!
I think he is OK to retire... $600000 / 25 years = $24000 per year, which is what he needs. He can definitely rent out a room from his flat to give him another $6000 to $10000 per year. Then CPF Life kicks in to secure him $36000 to $48000 per year.
If the concern is retire for 5 years and cannot be hired; seriously?? He is earning $20000 per month now. Can just register a company and be consultant for $6000 per year.
Having said that, I do agree that having buffer is important and $600k is cutting slim for my comfort and mine alone. Yet at the same time, how much buffer?
Retired from full time job doesn't mean can't do part time job. Surely can earn 1K a month to cover expenses.
40 a bit too young to fully retire.
$ may not be a problem but how to pass the time is a challenge.
I'm 37, stopped since 30. TBH kids alone takes up almost all the time. I have plenty of things on my plate to take up all the time that a 9-5 job used to dominate, including working for myself. I don't like to call myself FIRE. I just feel free and filled with purpose and fulfillment.
Do you live to work or work to live? If you the type live to work then i agree better dont stop working.
Everyone is different, it may be a challenge for you but may not be for some. Too young is subjective. There are other purpose in life other than working. If there’s no salary will you still work? Most people work to survive.
@@heartsnstars8282 There are some who really enjoy and have interest in their work but unfortunately most ppl dont fall under this category......most work for the money, Then there are those who lost purpose in life, use working to fill their time even not interested in the job.
Rent out his flat and explore the world, very affordable to stay in Southeast Asia or go Georgia 🇬🇪 1year visa-free stay for Singaporeans. Wonderful food and wine, beautiful places and people.
He wanted to retire early because he disliked the heavy responsibilities. Since he saved enough, he just wants peace of mind, to travel, and avoid office politics.
Yup that’s good 👍🏻
I think AK retires at 40? Can ask him what he talks about when he meets up with his friends
AK also play warship game 🎮
Interesting topic. 👍
I think it's wrong to think that anyone who comes out from retirement is not worth hiring. Next Nike CEO is someone who just came out of retirement (2020) to lead a billion dollar business. I am also aware of locals who continued with their companies as consultants even they are past their retirement age because they feel that they can still contribute. Let's be real, it is arguable to think if someone who has bills to pay would be more motivated than someone who does not.
Every individual has different motivations to work so surely it cannot be just dollars and cents?
In theory I agree with you. But if you have friends who have taken a long break and decided to join the workforce, you can ask for their experience in looking for job again. And if you know anyone who is in the recruitment business (e.g. HR, recruitment), try to get their view on the hiring manager’s attitude. Of course if the person has highly sought after skill, all these not an issue. But if you are someone who is average, the chance is lower compared to someone who is currently in workforce. Even skills also can become outdated.
@@BoonTee In short, before anyone quits, think about whether his or her experiences or skillsets would still be valuable years down the road.
@@lidna82 that’s true
i guess having money is one thing, finding something we ate passionate about to occupy our time is also one😊
This video did not mention about supporting his parents when they are old. Maybe his parents are very financially independent too.
It’s easy to say he should work another 1-2 years but he’s probably very burnt out to quit in the middle of the year instead of waiting until end of the year to take his bonus. Anyway don’t assume anyone who is retired will just lie at home, he can clean his house, exercise, cook and take up some hobbies.
When you are older and fell sick, you need a Full Time helper which wll cost 2000/ a mth in 10 yrs time😢And medical insurance costs more as you age esp aft 65..around 2000/ a year
Yeah quite crazy
Eric made a good point. If I am looking to hire someone, I definitely wouldn't hire AK. 😅
I would hire AK to advise people how to live prudently and not be kum gong 😂
BT made the point (Eric)
@@spinvalve 😅😅😅
@@bagholderpod I thought BT fleshed out the point you brought up. Maybe I got mixed up. Old man blur de. 😷
Crowning is covered... Usually 50% claim only
Planning to FIRE is absurd. If so desired, one should aim to be FIRED - Financially Independent Retire Early with Dignity! In today’s SG context, one could probably live with comfort and DIGNITY basing on SGD4,000 per month (without children and no debts, house fully paid etc) that will cover all needs plus some of the less costly wants, including but not limited to sudden medical bills and unforeseen expenses etc. Also, the monthly expenses shall be adjusted accordingly with say, a 2.5% annual inflation in mind.
In short, one must ensure sufficient savings to enjoy being FIRED!Simply put, forget about FIRE!!!
Styler sounds passionate on this topic 😮
. Creating buffer is always very subjective. Your kids may not be able to survive so you create buffer for them and how much is that buffer for them? Meanwhile the golden handcuffs is too attractive to cut it, so bear with it.
I agree too if all he wants is a simple life and going about that simple life all the way till it ends, it's likely enough. His current state is at least slightly better than average already, if he can't survive with this, half the population would not survive. You can never prepare enough for all the unforeseen. Say you suddenly have a wedding, 5-star hotel is a wedding, buffet at void deck is also a wedding. Prolong death is an option, cannot afford to treat it and passing on in pain due to it is also an option.
However, if the reason for early retirement is to relax and do nothing, my opinion on him is disappointment, that someone as educated is not contributing back to the society and family that have supported him and made him who he is today, and not living a more meaningful life. He can take up an easier or part time job or hobby instead when he decided to retire early.
Will Bali still remain cheap in 10-20 years?
Boon Tee is exactly right. Inflation is the greatest issue
buy bitcoin
Many people not realise it, even a modest 3% inflation, after 30 years the real value drop by 60%
Kelvin - what game genre you play ah? Can recommend any ?
If your life, social circles and conversations revolve around work, then it is rather sad. Secondly, these panelists default mode is "work". Hence everything is referenced around earning more eg find hobbies that can generate income etc.
However, a lifestyle designer's mindset is quite the opposite - if you have enough money to get to a life where you own your time - then go for it. The true asset in life is Time. No amount of money can buy you Time. So it doesnt matter if you want to spend your time sleeping more, cooking, exercising, taking a walk, reading, engaging with your community, enhancing your spiritual development etc. The fundamental truth about life is: You have Limited Time - about 83 years (some get really much less). Every year is one year less to live.
where did u get the FI article from? can share link?
www.reddit.com/r/singaporefi/comments/1fd9zv3/a_simple_fire_41_follow_up_from_a_casual_dinner/?
what is the link for this john doe story sharing that you guys are describing? blog post? share leh?
Can get from the description :)
double his amount is not enough CK, you need to rival adam khoo
Haha nice one
Boon Tee you looked young, didn’t expect your kid 10 years old liao!
Everyone is different I guess… but I would find working and having a lot more guilt free spending budget from 40-55 to be a much less miserable lifestyle… LOL!
SSB limits is 200K per person.
If int rate drops a lot due to recession, capital will be lost. This guy is preserving his capital.
Yup. That’s why recession is not the greatest risk. It is inflation.
@@BoonTee buy condo. $500k to $700k every 4yrs. Can u make this amt in stk mkt?
@@wwc7134 I am trying to be Warren Buffett, but I look at my returns obviously I am not 🤣
Kelvin sponsor by BALI
Now this video sounds like what retirees would talk about with each other....😂😂😂😅😅😅
All these dreams of "retiring" have to be taken in context of Wealth Effect happening now in SG due to inflated valuations of HDB flats, full employment/high wages, and USA stock market bubble and calm SG stock market. Too many singaporeans behave like him and productivity and innovation will drop fast. You keep blaming foreigners and rents and consumption will also plummet. How many of you remember 2003 when foreigners avoid SG because of SARS and religious extremism post-9/11 and Bali Bombings?
You notice those that complain about these things you mentioned are usually those without any discernible skillset to compete? Either stuck in a dead end job or scared sh1tless about being found out and fired because they are fraud. These are the ones that complains the most about everything under the sun. And Gen Z.
Best alternative is to apply for Malaysia My second home - special economic zone category, age greater than 50s only need to commit USD32,000 in fixed deposit and buy a cheap existing condo from a developer in the economic zone…….10 years renewable multi entry permit. Your 600,000 can then lead a comfortable retirement life.
Guys, if i have 500k cash saving, hdb fully paid. U think i can retire at age 40?
Without CPF, you cannot
Yes, rent out your flat, use the rental income to stay elsewhere outside Singapore~
I believe you can. But it depends on your lifestyle.
Use an excel spreadsheet and calculate. if you spend $13k per year, your 500K will deplete to dangerous 5 digits at age 90.
Have not cater to inflation yet. So you need at least annuity like CPF.
I dont have any CPF as i am self employed.
So i believe 1million is needed to retire comfortably.
U can actually retire with less, just not in Singapore 😂 and yes sacrifices have to be made. Not for everyone.
Had 7 millions at 37 and not dare to retire what are these ppl even thinking
I win u abit. At 35 i had 7.2m
In capitalism where we're always comparing ourselves to our peers or eyeing how the grass is greener on the other side wanting more and more things, you have to draw a line when enough is enough because you'd think back in the day Bernie Madoff with hundreds of millions of dollars of legit business money is enough, but he had to resort to Ponzi schemes because he desired even more.
These must be troll comments because people from far less prosperous countries, war-torn countries even, find a means to survive and here these guys are talking about how 7M is not enough.
@@jon8697 I win all of you. I have 9m (9 square meter of my own room).
Hello Guys, yr wives wont like you to retire so early, thats the reality.😂Unless you go out to volunteer 3 tmes a wk and do all the housework & cook for the family.
Need to share the housework, if not wife will not be happy 😂
if parent no need to be supported and no kid maybe enough for 2k a month.. if need to support parent no way lah..
He has more value at work...
Ahiyah... he expects to die before age 60 lah...
True not many people can live to old age
Just ask God what He wants you to do.
This is not FIRE and this is not retirement. At this level of savings this is just not enough for even 10 years, let alone retirement till age 85. Please get back to work and stop entertaining these ideas of back packing and holidays.
😂
CK, itz 插花
First!
delusional