I am curious why people want to quit at a point in their career when their salary is high or at their highest? Can you share your reason?
My spouse and I also think about retirement but that is because we are approaching 55. As we have not achieved our target net worth of $5m, we decided to slog another 3 yrs till we accrue $5.5m. The $0.5m is our buffer against the uncertainties in the market. Already the current stock market correction wiped out $65k of our holdings - ouch!
Currently we invested $2.5m in properties, stocks, bonds, single premium insurance that is giving us a measly $70k pa (3% ROI). Our home is valued at $1.6m,
CPF minimum sum $400k, Medisave $87k - total current net worth $4.5m.
With the additional $1m we hope to accrue in 3 yrs, we hope to invest that to augment our passive income to $100k pa. Then, we will really feel ready to retire. Can't wait to do all the things we have been putting off.....
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Originally Posted by Unregistered
I have decided to retire at an early age of 44, after achieving a net worth of $1.7m. I have an investment portfolio which gives me an annual income of $50k pa. My wife, 42, has a net worth of $0.6m and she is still working, earning $110k pa. With a combined income of $160k pa and combined net worth of $2.3m, we believe we are doing quite ok for our age. Not fantastic, but decent enough.
We hope to reduce our expenditure from $100k pa to $80k pa, so that we can save $80k pa. We hope to save $1.6m over the next 20 years and we estimate our investment portfolio and net worth would grow steadily in value over the 20 year period. We hope to achieve a combined net worth of $6m by 2033.
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