Originally Posted by Unregistered

Happy New Year 2013 to all posters!

I am a relatively new resident in a condo in the east (this is only my 3rd year there). During my occasional after-dinner evening walk around the compound, I would see an elderly couple taking their evening stroll. They are casually dressed but not sloppy. They have that serene and contented look, like without a care in the world. Never really talked to them beyond the typical neighborly smile when our paths crossed, until last Sunday. It began with their asking me if I just moved in. Let me called them Mr and Mrs A.

They are both 65, Mrs A retired 2 years before Mr A who retired at age 62. The topic of our talk somehow shifted to money when they asked what line I was in, and I jokingly complained I probably could not retire before 65 with the loans to pay off and the high inflation. Mr A worked in the Civil Service while Mrs A worked in a Stat board. Both got to super scale or equivalent grade when they were 45 yrs old. I asked them how come they weren't staying in a landed property as obviously they could more than afford it. Mr A said they missed the boat but they did not regret staying in condos either.

I was surprised they were quite willing to share quite a bit details into their wealth. Mr A said out of their combined of $450K pa, when they were 45, they only spent $100k. As their earnings grew, they somehow maintained their expenses. With only hints from Mr A, I mentally worked that by the time they retired, they would have accumulated (15 to 17 yrs) at least $ 7M not including the condo they are living in. Mr A said they are now living off the passive income from their investment. Mr A said their passive income can sometimes reached $350k a year. With their 2 kids financially independent, and Mr A having pension, they only spent $50 to 60 k of the passive income, saving $300k.

I was thinking, wtf man, I don't even earn $200K pa and these retirees are saving $300K pa from passive income!

Mr A "humbly" said they were the lowest among the high income group. I don't doubt him.