Thanks for your concern. What you said is true. We can never tell whether we get retrenched. If we are retrenched while still in our forties, then we have no choice but to adjust our lifestyle, including downgrading to a HDB flat and getting rid of our car. We have no problem doing this as we used to stay in a flat before and were happy and comfortable too.

However, if we are lucky to work till 60, then we can retire in our condo. As for our kids, they should be able to find decent jobs as they are academically inclined.

We are flexible, down to earth people. We will adjust accordingly to any changes in our life. Life in this world is temporary, no point being so worried about it. Just be happy.

I wish you well too. Hope you won't get retrenched in your forties. Good luck!

Can you share with us why you kept repeating your post. Looking through, you must have had posted the same thing more than 10 times. Are you seeking affirmation that you are doing ok or do you have deep seated anxiety about your retirement funding adequacy?

I have colleagues in similar financial situation as you and they have concluded and accepted that they would have to work till the retirement age of 65 and until all their children have completed their education.

It is easy to estimate how much is required to sustain their expected retirement lifestyle and there are many retirement calculators in the Internet to use. Or you could simply use the excel program to do it. There are no magic, no mystery to the calculation but simple maths.

Thanks. Should be ok for me.
I working for a Jap co. They don't retrench, or at least they never have in their last 20 years in SG. Still, doesn mean they will not do so. Touch wood.

Only concern is every few year u get a new jap boss. Some are good, some really sucks. So even when get a boss you don't like, still need to tong for few years. Or you get rotated to a function you dun like but still must tong as well.
That's my another concern. Again, touch wood.

I do have some side income as well. Pretty decent.
So I am quite happy right now.
My wife said current condition should be the peak of my life.
Hope this peak continue.

She keep telling me to relax a bit more, and ok to spend on something I want. So looking for a new ride so that I can pass the current ride to my wife.

Hi Bro, I know you and you are preparing in case our Japanese boss start retrenching that is why you are started with side income. Also our basic salary is low and only depending on bonus for additional saving so must have side income. Glad that there is not much stress here compare to US/EU MNC. Yes, keep "tonging" and prepare for it as no golden handshake unlike other counterpart.

Stay healthy and relax well!

a lot of old and insecure idiots in this thread.

I'm 29 and earn a base of 9.5k per month at my banking role. no liabilities, no assets. u think by the time I reach 40+ like all these idiots I will be here trying to wave my internet d*** around? will be too busy with my money.

don't be frogs in the well la.

It's this joker again! Always feeling "blessed and fortunate".... better get back to work before your manager scolds you!

It's all the same guy. The same as the one constantly asking people at the start to downgrade, rent out their HDBs and move to Malaysia. Same writing style.

Too free this fella

You shouldn't be disrespectful to those older than you. Money can be earned, but you cannot say for sure you will live past 30, not to mention 40 and beyond. Nobody knows what tomorrow will bring.

To be able to wake up the next morning as healthy as the night before is beyond your control. Those who are just 1 day older than you have already lived and gained 1 more day of experience than you. For that alone, you should show them respect.

The words we use reflects our upbringing. What you have written below don't reflect well on you.

As a 29 yo, with no assets, no liabilities, you haven't really lived. You really don't know what you don't know.

I know it is irritating to see that poster keep repeating the same post over and over again. To me, it showed that he was deeply insecure of his financial position. That could happen to anyone, especially when you have family and loans commitments.

Actually, if we can live in our parents house and rent out our own properties for passive income, and live simply, can actually retire early, even with children, provided they go local Uni...for myself, passive income of $3k with 2 kids in our 40s...living simply, like a Low income in Sg, can survive....so that is reassuring, in case forced into premature retirement....

Are you the only child? As an only child you may have the advantage and benefit of choosing to stay with your parents and renting out your own property. Others do not have this choice.

However as an only child, you will have to bear the full responsibility of taking care of your parents as they grow old and frail. Taking care of their medical needs and bills!

Enjoy living with them now, but the time will come when you have to pay back.

My advice is, when young and able, should work as long as you can, save and invest.