How much are you earning per annum?

Originally Posted by Unregistered

LOL,

These are the recurring themes:

1. Made it big, retired at 48 / 50. Wife younger still working. Passive income can cover expenses with some buffer. Working out in Gym, and doing charitable deeds. Dont be wage slave

<<Usually above post will trigger another recurring one: Your story inspiring. Most successful here>>

2. Age 38/39, 48/49, etc... earning such and such. Can retire or not? Or how to retire?

3. Easy to retire in Thailand, M'sia and what have you.

4. Downgrade to HDB studio, invest rest of money to get 4%, 5% returns ($40K, $50k pa).

5. Work as long as you can. Beware of inflation, need $m to retire comfortably.

But some of the posts are enlightening.

Originally Posted by Unregistered

The "this puts you among the top 15%....." guy strikes again..

Is he a wealth planner?? Anyone got his pm before? Or he posted something and replied his own post to attract potential customers.. haha

Originally Posted by Unregistered

You are the stupid moron.
If retire in Spore, you can't rent out your hdb flat and you may not want to rent your rooms because you value your privacy. So you only have $2k pm. How to live with $2k?
There are many nice, brand new 3 bedroom condos renting out at $2k pm, just look at property guru Malaysia.
Looks like you are the ignorant one. LOL.

Property guru.. haha.. dont tell me you are those who believe the property listing websites and buy shares based on bankers recommendation.. naive... Yes, thats why i said, you will get almost a same size condo with your 3 room flat in Sg.. So unless you have no kids, no spouse... if not, how do you move to KL? at 60, your children will be around 28-30.. Dont show bad example to your children.. Worked until 60 and can only afford to retire in outskirt KL? How many times you been to KL? Care to share, how long it last you for RM50?

Originally Posted by Unregistered

Property guru.. haha.. dont tell me you are those who believe the property listing websites and buy shares based on bankers recommendation.. naive... Yes, thats why i said, you will get almost a same size condo with your 3 room flat in Sg.. So unless you have no kids, no spouse... if not, how do you move to KL? at 60, your children will be around 28-30.. Dont show bad example to your children.. Worked until 60 and can only afford to retire in outskirt KL? How many times you been to KL? Care to share, how long it last you for RM50?

you are stupid and naive. you don't know where to get the best deals in KL.

RM2k pm will surely get you a nice, brand new condo to rent. i can meet my old friends and relatives in KL and i would want my kids to retire there too when they retire in 30 years time.

Originally Posted by Unregistered

You are a high powered couple, earning a very high income and living in a condo. Only 15% of Singaporeans live in condo our landed. 85% of Singaporeans live in HDB flats.

I think this is from the same idiot.. sorry, but is real funny... think he is online now..

85% lives in HDB flat.. Do you think those 85% living in HDB because they cannot afford condo and merely average joe? Many of them are richer than condo owners where majority of the condo owners leverage so much just to own one of them and rent 2 rooms out.. Many still stay in HDB due to the location, easy for children to school, near MRT, surrounding by eateries and groceries.. and they may own condos and landed properties but renting them out.. So judging by the physical outlook for the top 15% or bottom 85% shows that you are shallow enough...

Originally Posted by Unregistered

In 20 years time, you would have saved $1m cash and your condo mortgage would be cleared. Assuming your condo value rise from $1m to $1.2m over the 20 years, your net worth as a couple would be around $2.75m.

You are very good in assuming and forecasting future.. Even expert cant tell what will happen 2 years later but you can do it way better for 20 years.. Can there be a big crisis 10 years later and property price slump?? Since many will be staying in Johor and work here?? Like what you always promote..

Originally Posted by Unregistered

You can then sell your condo. You then have about $2.2m cash in hand. With the $2.2m cash, you can convert to RM and get about RM6 mil. You can retire like a rich tycoon in Malaysia. If you convert to Thai baht, you can retire like a Thai billionaire.

RM6 mil and retire like a rich tycoon in Malaysia?? Rich man is ok, not tycoon.. You have the mentality that Sg is the most expensive and Malaysia, Thailand things are dirt cheap.. A decent bangalow with decent location cost RM4 m, buy a S class, RM800k, left RM1.2 m, buy furnitures... expenses.. food.. tycoon?? And no point to be a Thai Billionaire.. we are talking about the value of money... what can you buy with the money you have.. understand?

Originally Posted by Unregistered

Or you can retire humbly in Singapore by investing the $2.2m cash in 4% dividend yield stocks which will give you $88k pa. Plus your CPF Life you will get an extra $36k pa. In total, you will get $124k pa in dividends. You can retire modestly with this passive income. Just make sure you don't gamble, own a car, employ a maid, drink, party, smoke or womanise. These are money drainers.

You are really a theory king living in ideal world..

Originally Posted by Unregistered

you are stupid and naive. you don't know where to get the best deals in KL.

RM2k pm will surely get you a nice, brand new condo to rent. i can meet my old friends and relatives in KL and i would want my kids to retire there too when they retire in 30 years time.

Yes, you mentioned "best deal" means compromise between price, location and others.. If you aware of, you need to pay maintenace fee, they go by sqf but can estimate roughly 10% of monthly rental.. means only 1.8k... like i said, you can get brand new condo, partially furnished but the nearest grocery is probably half an hour drive away, and is not prime area in KL.. lifestyle will be totally different from Sg. I do not know whether you consider language as a problem, may be you can speak malay, chinese, cantonese.. of cause you can use english...

Originally Posted by Unregistered

Yes, you mentioned "best deal" means compromise between price, location and others.. If you aware of, you need to pay maintenace fee, they go by sqf but can estimate roughly 10% of monthly rental.. means only 1.8k... like i said, you can get brand new condo, partially furnished but the nearest grocery is probably half an hour drive away, and is not prime area in KL.. lifestyle will be totally different from Sg. I do not know whether you consider language as a problem, may be you can speak malay, chinese, cantonese.. of cause you can use english...

You are indeed an idiot

Originally Posted by Unregistered

You are indeed an idiot

I wasted too much time here today...
Just saw this thread and thought of just browsing through..
I bet you nv been to KL before, may be even to Malaysia...
Hope you dont continue giving others a wrong picture..

Originally Posted by Unregistered

I wasted too much time here today...
Just saw this thread and thought of just browsing through..
I bet you nv been to KL before, may be even to Malaysia...
Hope you dont continue giving others a wrong picture..

You are a stupid foolish idiotic moron.
Like I said, I have many friends and relatives in KL and we occasionally meet up there.
I know what's happening there very well.
Maybe it is you who know nothing.
Better go back to your work.

Originally Posted by Unregistered

You are a stupid foolish idiotic moron.
Like I said, I have many friends and relatives in KL and we occasionally meet up there.
I know what's happening there very well.
Maybe it is you who know nothing.
Better go back to your work.

You dont get to see the true picture by visiting there occasionally. Ask your relatives hows life there... bad jam, bad security, you wont be walking, need a car... food prices and goods rises by a lot recently...

[ks55]

Originally Posted by ks55

From what I observed in this forum, many tend to use the term how much they earn, how much they save, how much net asset worth now etc.

Financial independence when you retire does not take into consideration all these things. Mike Tyson may earn millions in a single fight, that doesn't make him live comfortably in later part of his life.

Many stated in this forum their net worth is more than 1.0m. Look carefully, the 1.0m comprises mainly of condo at present value 1.5m less 600k loan outstanding. Other assets presumably comprise of cash, share, car, and CPF saving.

Please take note property price may go up and down. Property needs maintenance, need to pay taxes and insurance.

To achieve financial independence means that you can live with the quality of life similar to what you have while in full employment. Need not think thrice to spend extra few dollar here and there. Able to replace household items and mode of transport when necessary. Up keep and house maintenance as usual.

Simple test whether you have achieve financial independence will be :

1. You have a mortgage-free home.
2. If you have cash asset equivalent to 100 times last draw monthly gross pay (i.e before tax, CPF contribution, or what ever deduction).
3. If you can generate 65% replacement income from your nest eggs.
4. If you are paying 20% income tax at the time of retirement.
5. If you have been saving in what ever form (or commitment) at 15% of your last drawn gross pay and nil when retire.
6. If you can earn 10% ROI pa on your nest eggs consistently.
7. If inflation does not exceed 4% pa.
8. If you only spend up to the replacement income every year (already inclusive of 4% inflation per year);
9. If you do not intend to leave anything to your children other than the house you are staying.
10. If you do not live longer than 79 years (4 year longer than life expectancy right now).

So, when you already achieved the above criteria, regardless of your age (age 40, 50, 60 up to you), you should be able to live the same quality of life at the time of your retirement.

Note: Cash asset to include CPF, cash, FD, share, bonds, unit trusts, second house that can generate income. By no means contribution from children to be included.

I am very sorry to be not sensitive to some of the very unfortunate cases as below:-

1. Many who live in Singapore are PR from Malaysia, they are not skilled worker earning miserable income. They plan to go back to their home town where they know the best.

2. Many Singaporean take for granted that their children will contribute towards their retirement expenses, which I personally know may not be true.

3. I have given wrong impression that I am a financial product promoter, which is not true because it is not necessary for me.

4. I saw too many old folks (>70 yr old) still have to work for living as cleaners in office, restaurant etc. This remind me of street scene in Hongkong where very old women still pushing carts .......(too sad to describe). Will Singapore old folks face similar fate one day???

5. My proposition originally is towards those who earn around 100k a year. Plan early so you can enjoy retired life not less than what you will enjoy while still under full employment.

6. I have achieved my financial independence at age 57, and retired one year later at 58 (Have since retired more than a year). I believe it is my responsibility to share things that are good for society.

7. For those who want to achieve financial independence, please read How to grow rich by Frank Newman and Dr Muriel Newman. (I read this book 20 years ago and benefited a lot).

8. For those who are to retire very soon, or have just retired, I would like to share the following (just go for google search):

8.1 My favorite songs - 8.1.1 趙詠華-最浪漫的事
8.1.2 明天會更好

8.2 My favorite retirement video - 8.2.1 退休準備分享 - 方幼南 (方伯伯)
8.2.2 享受50歲以後的人生 Life After 50
8.2.3 老了怎麼辦
8.2.3 退休後的人生 Life After Retirement
8.2.4 父母子女的緣份
9. Pray for your forgiveness.