Quote:
Originally Posted by Uncle MK
To the post by LLL,
No doubt that the stated investments provide lesser returns. Uncle is 'old' already and cannot afford more risks but to hedge away instead. A few hundred thousand in Fixed-Ds do make a difference as opposed to having ten thousands.
Uncle admires your life due to early retirement with passive income but do make sure to hedge through insurances for unforeseen circumstances. I live a life of contentment and hope to impart knowledge to the younger ones.
Glad to learn someone of impressive records
|
Hi uncle MK,
I wasn't sure I could do early retirement at the start. Took me a few years to test out passive income before taking the plunge. So far so good. Stress level is down. I figured I am still young enough to go more aggressive with investment. Will likely tone down when I hit 50.
Meanwhile, I have hospitalization insurance, term and life/critical illness coverage as well. It's very important in SG to have hospitalization insurance.
Like you, I did it via doing business. No magic formula, it's through hard work, perseverance, taking some risk, making judgement calls and a lot of luck.