Thanks for sharing. I'm inspired by your story. I think I will follow your footsteps. Will buy a cheap condo for stay and another for investment. Stocks looks very risky, you can see now the stock market is falling, even the dividend stocks and REITs are crashing. Property will not be like this.
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Originally Posted by Unregistered
Let me share my own experience.
I was retrenched at a young age of 48. I could have been economically active still but the relevant opportunities were simply non existent. I did not want to stoop so low as I was a highly successful executive. Egoistic? Yes, I am egoistic. Why should I disgrace myself among my family and friends? So instead of taking on a shameful job, I decided to retire.
Just before my retrenchment, I had three properties - one 3 storey landed property and two condos. I decided to sell my prestigious landed property to a less prestigious condo in D10. I had to explain to all my friends and relatives that I had decided to retire and wanted to rest after working for so hard, and so long hours all these years. I managed to clear all my mortgages and all other debt. I also sold my conti and settled for a smaller Jap. My two condos now gives me passive income, enough for me and my family. We still manage to go to holidays in Europe, but instead of twice a year, we have to settle for only once a year. We survived.
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