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Old 30-09-2013, 06:31 PM
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I'm planning to retire soon. I have passive income of $300K/year so its not really an issue. However, I worry about being bored. So, I'm going to take a leave of absence for 6 months-1 year and rethink then. I'm not close to retirement age yet but the children are already finished or away at university and those funds have already been allocated to an education account.

To prepare for retirement, I haven't been investing for the past 12 months or so at all. All my passive income and salary have been going to my retirement FUN account. By sometime next year, I hope to have saved S$1m in that account. Then, I'm going to burn through it traveling and living in luxury and having fun as if there is no tomorrow. I'm actually curious whether I'll be able to spend it all since I've lived most of my life saving and being extravagant has never been my style. Plus since about $25K still comes flowing in each month from passive income, I'll probably have to spend something like$50-60K per month to even make a dent in the account. At $60K per month spend, I would go on for 3 years before I have to slow down. Seems obscene to spend so much money....

If you are telling the truth, you are really a very lucky person. I am above 30 and after I work for the whole year I get around $60K. Depressing because you plan to spend $60k every month.

For me, every month I get around $3.5k take home. I save between $1k to $1.5k per month. Do you have any suggestion on how to earn passive income?

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