As you said there are many people making their first pot from property but that said I don't think that applies to most of the people asking advise on this forum. Most people who are fortunate enough to get en bloced (and not property investors) are probably in their late 40's (my assumption). Its akin to a the son of a rich man taunting those around him.
This chap likes to portray as if most of his "fortune" came from his work, but what is most incorrigible is his repeated egoistic post which obviously derives some pleasures in thinking he is above all forgetting everyone starts with differing circumstance and or commitments. (I agree there are some mental concerns to be had here)
Anyway enough about him
With regards to retirement I can't say when one should retire, if one has money but enjoy his job and gives good work/life balance once can literally never retire and that's perfect IMO.
Personally if the above suits where you are then congrats, unfortunately in my industry work life balance is not part of the corporate plan so unlikely I will see myself working till that stage in this arena. But like you I've made outside investments which permits me options to explore heng ah.
Quote:
Originally Posted by Unregistered
I am not the guy who posted about making his fortune and retired at 49. But I would like to say that many people are still striking their pot of gold through property - just have to look at the pace of enblocs going around you. After this round of enblocs, the next cycle could be a good 15 to 20 yrs later.
You also hit the nail right on the head about the poster being a nut case and praising his own posting. There is indeed an unmistakable pattern to it.
I am the guy (old man) who advocates working through your 50s and not to retire before that. This is because the period from 55 to 62 is the golden period for accumulating your nest egg. This is the period where your financial obligations taper off, your salary peaks and if you are invested - your passive income should be firing at full cylinders.
I am sharing from personal experience. Before 50, we were saving below $200k pa. After 50, our savings rate grew at a faster clip. Last year we were able to save $400k!
If we factor in our properties value appreciation because of the enbloc craze, our networth grew by more than $1m in just 2 years.
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