Good spot!

In some ways, this place is even worse than other forums cos at least over there the same guy has to log off and re-log in using the multiple clone accounts that he has.

Here it's anonymous, so I could tell you I am Li Hong Yi too LOL

Believe whatever you want bro
-buy side

laughing @ all these anonymous posters. you mean people are talking to themselves? haha ha ha.

im only here cos my 2 month sabbatical is starting next week. finally handed off all my work and going to spend the last few days at work relaxing before going off for a break. not as rich as the "buy side" guy posting around here or those multi millionaires but i can still afford a simple biz class air ticket to enjoy some farm life over in australia and new zealand.

Dont laugh at the posters here as you are one of us.

Case of the pot calling the kettle black.

Anyways, you are still young, and will only appreciate what we oldies have been trying to share when you "get there"!

30 years ago, I used to think I was infallible. The world was my oyster, blah blah. I looked at my seniors / superiors with disdain. Scoffing at their work ethics etc...

I see the young ones now doing the same things. And I hope for their sake, when they grow old, they have enough savings to carry them through to allow them to live with dignity and not have to depend on handouts. All their brash behaviours and cock crowing now will count for nothing when they are asked to leave their jobs in their late 40s or 50s.

But I learned my lessons early and fast. I started saving and investing aggressively early in my career. I aim to continue working till 62 even though my passive income is more than enough to cover my expenses now.

All this talk about dying young should not distract you from savings for a comfortable retirement to a ripe old age. Consider the 2 cases below and you will understand which is better.

Case 1.

Person A thinks he will die young or anytime, so he quits his work to laze around when he thinks has saved enough. Scenario 1 sees that A did indeed die young (because he lazed around too much, without purpose in life his health, mind and body degenerate very fast). So he leaves a little bit for his loved ones.

Scenario 2 sees A living longer than he expected. Savings run out at 70. Panic, went back to look for work. Ended up clearing tables at hawker centres.

Case 2.
Person B plans to have long retirement (up to age 90 and beyond). Work and save as long and as much as he could. Scenario 1 sees him dying young, but he leaves a big inheritance to his loved ones. They loved deep, deep.

Scenario 2 sees him living till 90+. His strong investment and savings allow his loved ones to employ a full time helper to look after him. He can lived in dignity and with knowledge that he is not a burden to his loved ones financially.

Think ahead, and not just the current.

To steal a quote from someone: The past is not the present, The present is not the future

I think once you are able to retire but still quite young, it is best to semiretire to strike a balance....Enjoy the fruits of your labour while still able to and spend more time with loved ones who will definitely appreciate it....

In today's difficult global economic environment, made worse by Brexit, we must be flexible. If you are a retrenched engineer in your 30s or 40s, married and has children to support and cannot find a new job, then you need to look at options which can at least give you some income. You can become an Uber or Grab driver using your own car. Better than a taxi driver as not many people will know.

If you are already in your 50s and you have no more dependents, you can consider retiring in neighboring countries like Malaysia or Thailand. You can rent out your fully paid HDB flat for $2500 pm. After you convert to RM, you get RM7500 pm. You can live in luxury. You can rent a 3 bedroom condo in KL for only RM1500 pm. If you want to retire in Thailand, you will get THB65,000 pm. That's a huge amount for a retired couple.

So, don't worry. As long as you have fully owned your HDB flat, you have a good asset to allow you to earn income and retire.

haters always gonna hate.

you again!?!?

Retire already then live so far away from family... Might as well live in heaven or hell. Can save more money and you'll see your kids just as often.

Here comes that joker again with his HDB flat.

Let's face facts: If you're retiring and you still own 1 HDB flat, then at most you will get by, it won't be a comfortable or luxurious retirement.

We already own 2 properties currently, bought before ABSD was implemented. Currently holding some spare cash and looking to pick up a third one once ABSD is relaxed. Retirement will be in about 20 years if retirement age doesn't increase again. By then we will retire happily in our fully paid condo while the other 2 properties generate rental income.

Together with our investments and CPF Life, we should be getting 20-25k combined passive income monthly. Hope that is sufficient for a comfortable retirement in 20 years time as inflation will be eating away at our value.

Retirement overseas in a third world country? Ha.....