Thank you. Actually some of the stress come from driving on our crowded roads. So fewer cars mean lower stress.
And I guess what they say is true. When young, we spend our health to get wealth. When older, we spent our wealth to get health.
Take care!
Quote:
Originally Posted by Unregistered
Don't worry, I am one of those guys who will scrap their cars. I plan to retire next year when I reach 50. I am not in the best of health due to the long hours of work, frequent overseas travel, and all the bad habits. I will not live long if I continue with my current lifestyle.
Since the property market is expected to fall drastically over the next two years, I will sell my terrace house now. I will sell it at $2.5m, pay off the $500k mortgage, and have $2m in cash. I will use $400k cash to buy a resale 4 room HDB flat, and invest $1.6m to buy stocks to give me dividends of $64k pa. Without a car and a maid, I will save $3k pm. My household expenses will then drop to $60k pa. My wife, 40, will work part time to take care of me, she can earn $30k pa, so our income will be $94k pa while our spendings will be $60k pa and we can save $34k pa. We will also clear all our loans. Luckily I have bought medical insurance in my early working years to take care of the bulk of the medical bill. I can also your my Medisave. |