How much are you earning per annum?

I see that this forum is being hijacked by Gossip sg presumably because our traffic is among the highest ? Anyway lets not pay any heed to that.

How much money is enough, happiness, saving adequately etc are all very subjective topics. It is very individual dependent.

My wife and I are happy and contented with our present lifestyle and dont see a need to spend more just for the sake of spending our money. For eg, we are very pleased and happy with our two jap cars which are fairly new, reliable and comfortable. We dont think we will derive a higher level of happiness with conti cars. Driving conti cars is just so-not-us.

We are happy with our condo because of the facilities which we use often. Although we could easily afford landed, again we dont think it will make us happier. At our age, climbing up and down stairs is a no-no. So multi-storeys landed are definitely out for us. Condo with full facilities are best.

Different people have different hobbies. For us, or at least for me, my "hobby" is in making my passive income grow. It gives me great joy and satisfaction to see our networth and passive income growing month by month, year by year. I devote my weekends reviewing the investment opportunities. You may not believe this, the money in itself is actually secondary. It is the process, and seeing my investment decisions turning out well that is giving me the satisfaction.

We are definitely happier when dressed comfortably in tees an shorts when we go out. No fancy branded stuff for us.

Only thing we do differently now as compared to when we were younger is when we go for holidays. At our age now, we need and want to travel in comfort. No more backpacking, no more cheap hostel or 2 star hotels.

So yes, we are happy with our current lifestyle. We dont see a need to spend for the sake of spending. I am not a miser, but I do derive more happiness seeing our wealth and passive income grow than in spending money mindlessly. One should do what makes one happy.

Finally I want to conclude that although our passive income is sufficient to cover our annual expenses, it is never going to cover our earned incomes. That is why I dont advocate quitting your job. I am a firm believer that you are your best asset. Once you quit, you are not making use of your best asset to generate income!

Originally Posted by Unregistered

Then I hope you aren't accumulating your money because you think you can bring it with you. Being prudent and saving for retirement is one thing, saving excessively and not spending is another. Money is meant to be used, not saved. Don't be the couple who worked their entire lives and end up giving all their hard earned money to their children when they pass on, without enjoying life themselves.

Hi

I do agree with you that we are our own best asset. That is why I have decided to invest full time three years ago rather than working in a job I don't like and not good at. I have been investing for the past 30 years and am good at it. I decided to devote my time to investing full time and seeing the fruits of my decision. My current passive income covers more than my expenses and my capital gains have grown significantly since I invested full time. With more time devoted in doing my research, my stock picks got better.

Now at the age of 58 and with no dependents, I can afford to have more time to pursue other interests besides investing full time. My wife enjoys my company at home. We are now closer as a couple. We love exercising in the parks together every morning before I start my work at home at 9am when the market opens. We don't drive as our penthouse condo in next to an MRT station.

Originally Posted by Unregistered

I see that this forum is being hijacked by Gossip sg presumably because our traffic is among the highest ? Anyway lets not pay any heed to that.

How much money is enough, happiness, saving adequately etc are all very subjective topics. It is very individual dependent.

My wife and I are happy and contented with our present lifestyle and dont see a need to spend more just for the sake of spending our money. For eg, we are very pleased and happy with our two jap cars which are fairly new, reliable and comfortable. We dont think we will derive a higher level of happiness with conti cars. Driving conti cars is just so-not-us.

We are happy with our condo because of the facilities which we use often. Although we could easily afford landed, again we dont think it will make us happier. At our age, climbing up and down stairs is a no-no. So multi-storeys landed are definitely out for us. Condo with full facilities are best.

Different people have different hobbies. For us, or at least for me, my "hobby" is in making my passive income grow. It gives me great joy and satisfaction to see our networth and passive income growing month by month, year by year. I devote my weekends reviewing the investment opportunities. You may not believe this, the money in itself is actually secondary. It is the process, and seeing my investment decisions turning out well that is giving me the satisfaction.

We are definitely happier when dressed comfortably in tees an shorts when we go out. No fancy branded stuff for us.

Only thing we do differently now as compared to when we were younger is when we go for holidays. At our age now, we need and want to travel in comfort. No more backpacking, no more cheap hostel or 2 star hotels.

So yes, we are happy with our current lifestyle. We dont see a need to spend for the sake of spending. I am not a miser, but I do derive more happiness seeing our wealth and passive income grow than in spending money mindlessly. One should do what makes one happy.

Finally I want to conclude that although our passive income is sufficient to cover our annual expenses, it is never going to cover our earned incomes. That is why I dont advocate quitting your job. I am a firm believer that you are your best asset. Once you quit, you are not making use of your best asset to generate income!

You have done the right thing. Do what makes you happy. Don't let any idiot tell you otherwise.

Originally Posted by Unregistered

Hi

I do agree with you that we are our own best asset. That is why I have decided to invest full time three years ago rather than working in a job I don't like and not good at. I have been investing for the past 30 years and am good at it. I decided to devote my time to investing full time and seeing the fruits of my decision. My current passive income covers more than my expenses and my capital gains have grown significantly since I invested full time. With more time devoted in doing my research, my stock picks got better.

Now at the age of 58 and with no dependents, I can afford to have more time to pursue other interests besides investing full time. My wife enjoys my company at home. We are now closer as a couple. We love exercising in the parks together every morning before I start my work at home at 9am when the market opens. We don't drive as our penthouse condo in next to an MRT station.

Originally Posted by Unregistered

Hi

I do agree with you that we are our own best asset. That is why I have decided to invest full time three years ago rather than working in a job I don't like and not good at. I have been investing for the past 30 years and am good at it. I decided to devote my time to investing full time and seeing the fruits of my decision. My current passive income covers more than my expenses and my capital gains have grown significantly since I invested full time. With more time devoted in doing my research, my stock picks got better.

Now at the age of 58 and with no dependents, I can afford to have more time to pursue other interests besides investing full time. My wife enjoys my company at home. We are now closer as a couple. We love exercising in the parks together every morning before I start my work at home at 9am when the market opens. We don't drive as our penthouse condo in next to an MRT station.

Exactly. You should enjoy your retirement life within your means.

You should be more than happy if your replacement income (plus inflation) is more than your total income prior to retirement. In that case, quality of your retirement life will not be inferior to that of full employment.

OR at least you can generate 70% replacement income, you should not be worry whether you can retire or otherwise.

Originally Posted by Unregistered

Exactly. You should enjoy your retirement life within your means.

You should be more than happy if your replacement income (plus inflation) is more than your total income prior to retirement. In that case, quality of your retirement life will not be inferior to that of full employment.

OR at least you can generate 70% replacement income, you should not be worry whether you can retire or otherwise.

When I was working in a company, my income is a lot more than my expenses and hence I save and invest a lot. My decision to stop working in the company is based on my passive income and my expenses. My passive income is much more than my expenses. On top of that my penthouse is worth a lot and it is paid up. My standard of living is much, much higher today because I still get to enjoy good food, holidays, etc and in addition I got a lot more leisure time. My standard of living is now higher than before. We are much, much happier today.

Did I read correctly? That when you were working, you did not like your job and you were not good at it and yet you were paid a lot?

Your company is screwed.

Originally Posted by Unregistered

When I was working in a company, my income is a lot more than my expenses and hence I save and invest a lot. My decision to stop working in the company is based on my passive income and my expenses. My passive income is much more than my expenses. On top of that my penthouse is worth a lot and it is paid up. My standard of living is much, much higher today because I still get to enjoy good food, holidays, etc and in addition I got a lot more leisure time. My standard of living is now higher than before. We are much, much happier today.

Originally Posted by Unregistered

Did I read correctly? That when you were working, you did not like your job and you were not good at it and yet you were paid a lot?

Your company is screwed.

I was not good enough to be the top guy but good enough to stay long. I was hoping to be the CEO or at least CFO.

Originally Posted by Unregistered

A lot of people here too free, so spend time fantasising about leading a rich life.

Do you think a couple earning 300-500k pa needs to ask people on the internet for advice on how to manage their wealth?

SG got no poor people one. Every ah kao ah mao earns minimum $10K per month & above. HUAT AR!!!

Impressive. To be retired at 58 is not bad though not as awesome as those high flyers ex bankers who retired in their 40s. Anyway good to know that you are now closer to your spouse. Many people your age tend to drift apart. That's why they rather not retire because they want to avoid seeing their spouse everyday at home. LOL.

Originally Posted by Unregistered

Hi

I do agree with you that we are our own best asset. That is why I have decided to invest full time three years ago rather than working in a job I don't like and not good at. I have been investing for the past 30 years and am good at it. I decided to devote my time to investing full time and seeing the fruits of my decision. My current passive income covers more than my expenses and my capital gains have grown significantly since I invested full time. With more time devoted in doing my research, my stock picks got better.

Now at the age of 58 and with no dependents, I can afford to have more time to pursue other interests besides investing full time. My wife enjoys my company at home. We are now closer as a couple. We love exercising in the parks together every morning before I start my work at home at 9am when the market opens. We don't drive as our penthouse condo in next to an MRT station.

Everybody say that.

My condo security guard confided in me that he was once the CEO of a company. What he said was true. I know him from NS days and I remembered then he was already very business minded. He told me there was a lot of demand for cleaners and he was going to set up a company to provide cleaners when he completed NS.

When we met again during ICT, he told me about his business. What I didn't know then was he was the business owner or as he called himself the "CEO".

Then business was very good. He told me he secured cleaning contracts for Changi Airport and with that he does not need to look for other business.

But the turnaround came and came very quickly, when the supply of foreign workers dried up. He couldn't keep the business profitable with a shrinking pool of workers and in a very short time he was out of business. After trying his hand at our businesses without success, he ended up working as a security guard.

Unfortunate for him, he invested all his earlier profits into his company and it folded!

Originally Posted by Unregistered

I was not good enough to be the top guy but good enough to stay long. I was hoping to be the CEO or at least CFO.