How much are you earning per annum?

Without fail, the discussion on any topic quickly degenerates into delusional and nonsensical exchanges.

Always wonder what these posters were thinking and whether they derive pleasure or happiness from such grandiosity.

Originally Posted by Unregistered

Without fail, the discussion on any topic quickly degenerates into delusional and nonsensical exchanges.

Always wonder what these posters were thinking and whether they derive pleasure or happiness from such grandiosity.

Originally Posted by Unregistered

Fantastic!! you and the above 2 posters should gather together and procreate by engaging in weekly orgies. that is the best way to ensure more elites like you continue to thrive..

And the two of you should suck each other dicks, typical sinkies. Misery loves company. Don't be bitter and jealous just because others are more successful than you.

We are ready to retire at 55 because we have paid off our 3 bedroom condo's mortgage and our children are grown up. We are debt free too. At 55, we can also collect our CPF money in our OA.

We have been saving and investing for more than 30 years and now enjoy a healthy passive income from our investments that would be enough for the two of us in retirement. Our passive income is $4000 pm while our expected expenses is $2500 pm. We can save $1500 pm ($18,000 pa) to take care of future inflation.

Our monthly expenses for the two of us would include food & groceries ($800), condo fees, property tax and utilities ($600), public transport ($100), medical fees & insurance ($600), overseas holidays ($200), and miscellaneous items ($200).

We plan to do active charity work when our retirement starts. We believe those who are better off and more successful in life must help the less fortunate ones. This way our society will be a more compassionate society. Donating money alone will not be good enough, we want to be on the ground helping the poor and needy.

We do not want to work until our 70s as some may suggest as we might pass away in our 80s. 10 years of retirement after so many years of work is not good enough. We want to enjoy a longer retirement.

Besides charity work, we have listed a whole range of activities which will keep us busy and mentally active minus the work stress and office politics. We know of successful people who retired in their 50s and they are enjoying every moment of their retirement. We look forward to join them.

40 yo couple here with family income 220 K pa. stay in 5r hdb with no car. Are we doing fine?

Originally Posted by Unregistered

40 yo couple here with family income 220 K pa. stay in 5r hdb with no car. Are we doing fine?

Is your hdb flat paid up? What's your total household net worth (you and wife's combined net worth). Do you have investments?

Originally Posted by Unregistered

Husband: 33 years old
Occupation: Banking /DCM
Base Salary: $420k pa SGD
Passive income: $200-300k pa (30% bonds , rest in ETF)

Married with one kid. Wife is house wife but she worked a few years as a FX salesperson.

Our net worth is around $11m. Including our house which is fully paid.

Still staying in our HDB (BTO) as we love the area and have many good memories in that place! It is also right on top MRT station and I only take 20 minutes door to door from work to office.

President of Singapore also lives in an old surban HDB，it is a smart choice to stay in HDB save u so much money。👍

Originally Posted by Unregistered

Is your hdb flat paid up? What's your total household net worth (you and wife's combined net worth). Do you have investments?

Hdb loan 25 year loan, haven't finished paying, but can be fully paid using cpf about $600 monthly.

Combined et worth slightly over 1m. Investments are conservative stocks giving 2.x% to 3% pa.

Originally Posted by Unregistered

Hdb loan 25 year loan, haven't finished paying, but can be fully paid using cpf about $600 monthly.

Combined et worth slightly over 1m. Investments are conservative stocks giving 2.x% to 3% pa.

You're doing well. How much do you save every year?

Thanks for sharing your secret. You opened up my mind. We may follow your footsteps in a few years time. KL is a nice city. You just need to be street smart. I think it's a lot safer than big cities like NY, London. Don't listen to the frogs in well people in this forum.

Originally Posted by Unregistered

Hi,

We've been following this forum and have found the discussions and arguments here useful. We think there are good pointers on both side of the arguments.

Those who argued we need a lot of money to retire may be right if we want to maintain our high standard of living. Those who argued we don't need so much money to retire could also be right since they chose a simple standard of retirement.

We have found a SECRET on how we both as a couple can retire with a high standard of living even though we are not rich. We realize it is difficult for us to have a high standard of retirement if we retire here.

We will soon reach 55 and plan to retire. The SECRET is to retire in KL, where we can enjoy a high standard of retirement due to the lower cost of living and a favorable SGD exchange rate. We will join our relatives there. We also have friends in KL. KL is a metropolitan city with many modern amenities, shopping, entertainment, attractions, lots of international food choices, etc. Not much difference from Singapore. We are familiar with KL. With the KL-SG HSR, our children and grandkids can visit us easily in the future.

Our children will remain here as they will be working, married and living in their own BTO HDB flats. They will be working hard to save lots of valuable SGD for their own retirement.

We plan to rent out our paid up Singapore home for $2500 pm. We also have dividends of $1000 pm from our investments. In total our passive income will be $3500 pm. After conversion we will receive RM10500 pm. We can retire in comfort and enjoy a high standard of retirement with this amount.

Our spendings (2 retired persons) per month:

Condo rental (3 BR) RM2000
Food, mobile, wifi and utilities RM2000
Car petrol and maintenance RM500
Medical RM500
Entertainment and holidays RM1000
Miscellaneous RM1000
Total RM7000 pm
Savings RM3500 pm

Upon reaching 65, our CPF Life ERS will give us $4000 pm. So our passive income will be $7500 pm or RM22500 pm. With this passive income we can rent a luxury condo in KL's prime district (Orchard Road standard), employ a maid, drive a luxury sports car and go annual holidays to Europe flying business class.

So, we can have a luxurious retirement lifestyle even though we are not rich as long as we have:

1. A paid up HDB flat
2. Some investments which give dividends
3. CPF Life ERS

Retiring in luxury is possible if we retire overseas, in places with a lower cost of living.

We have projected that we can't afford to retire here with a high standard of living. If we retire here, we may have to downgrade to a very small HDB flat and eat simple meals. We also don't want to work until we are 65 or 70. If we die at 80, we will only enjoy retirement for 10 to 15 years. If we are sick for say 5 years, our enjoyable retirement will only be 5 to 10 years.

If we studied hard from Primary 1, worked hard in our career until we retire at 65, that's 59 years of hard work. Not worth it to enjoy only 5 to 10 years of retirement after 59 years of suffering and hard work. We choose to be smart and not think like the ordinary, unthinking people. We will retire at 55. We deserve it after working hard for 49 years (from 6 to 55 years old).

While we value hard work, we don't believe in working long and hard just to amass a huge wealth to pass to our children. Every generation has to work hard and not be spoilt by stupid parents. Our forefathers worked very hard to build our nation, so our future generations must work hard too. They must not be weaklings and strawberries or else there's no future for our country.

Originally Posted by Unregistered

You're doing well. How much do you save every year?

We save about 7 to 7.5K every month