Quote:
Originally Posted by Unregistered_101
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.
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Perhaps you missed my point about working during the golden period. During this period, you might or might not have achieved financial independence, but nevertheless as your financial obligations taper off, you start to have options open to you regarding the kind of job you wish to take on.
If your current job is giving you high level of stress, you can/should look for a less stressful job albeit with lower remuneration. The important thing is to keep working and earning a salary during this period as this is the "last mile" to really pad up your retirement nest egg.
For us, we achieved financial independence around 54/55. This was when our passive income exceeded our expenses. From that moment on, each year we worked, we saved the full salary, bonus and all including any left over from the yearly passive income.
We did think about changing jobs to those that would allow us more control of our time. Never in our mind did we think about giving up working altogether just because we achieved financial independence. It was important to us that we continue to be productive members of our society. Furthermore we have heard of people who retired early and gone into depression because they lost their purpose in life.
Astute people will continue to work during this period (55 to 62) as this period gives them the fastest growth to their nest egg. Beyond 62, some companies tend to pay less with reduced workload.