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How much are you earning per annum?

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  #11331 (permalink)  
Old 30-11-2017, 07:48 AM
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You are the most successful among us since you can retire at 55. Many in this forum are still working hard in their 50s and 60s. Poor life.


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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 income from our investments and savings that would be enough for the two of us in retirement. Our passive income is $4000 pm while our expected expenses is $3000 pm. We can save $1000 pm ($12,000 pa) to take care of future inflation. Our passive income will rise when we reach 65 as our CPF Life (annuity) will give us monthly payouts.

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 ($700), 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 could also be sickly when we approach our 70s. We want to enjoy a longer retirement. We want to travel the world during non-peak seasons (a lot cheaper and less crowded than the typical peak seasons). We want to travel while we are still healthy and mobile. Our 55 - 65 age bracket is actually the best retirement period as we are not too old and still healthy to travel the world.

Besides charity work, we have listed a whole range of activities which will keep us busy and mentally active. We know of successful people who retired in their 50s and they are enjoying every moment of their retirement. There are also high flyers from the finance industry who retired in their late 40s after making a fortune. We look forward to join them.

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  #11332 (permalink)  
Old 15-12-2017, 08:54 AM
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Review of 2017

2017 was a good year.

I have enjoyed 5 years of happy retirement from the corporate world. My wealth also grew in tandem with the global markets. My investments gave me a nice passive income for my livelihood.

I am blessed with many blessings. I own a three-bedroom luxurious condominium unit located in a good location, investment properties and stocks which generate passive income and a continental luxury sedan. I have a happy family, good friends, overseas holidays, etc.

I have also taken better care of my health. My health has improved. I can enjoy life more with better health.

I am very grateful for all my blessings.

I am looking forward to my 50th birthday.

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  #11333 (permalink)  
Old 15-12-2017, 10:55 AM
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Originally Posted by Unregistered View Post
Review of 2017

2017 was a good year.

I have enjoyed 5 years of happy retirement from the corporate world. My wealth also grew in tandem with the global markets. My investments gave me a nice passive income for my livelihood.

I am blessed with many blessings. I own a three-bedroom luxurious condominium unit located in a good location, investment properties and stocks which generate passive income and a continental luxury sedan. I have a happy family, good friends, overseas holidays, etc.

I have also taken better care of my health. My health has improved. I can enjoy life more with better health.

I am very grateful for all my blessings.

I am looking forward to my 50th birthday.
When you retire at 45, what was the annual passive income that you estimated you can get from your investment portfolio then, and what is the passive income you are getting in 2017? Wish to learn from your experience as I am contemplating an early retirement as well.

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  #11334 (permalink)  
Old 17-12-2017, 07:32 AM
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Amazing! Congratulations sir. You are the most successful among us. You must have been a high flyer top investment banker to be able to retire in luxury at 45.

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Originally Posted by Unregistered View Post
Review of 2017

2017 was a good year.

I have enjoyed 5 years of happy retirement from the corporate world. My wealth also grew in tandem with the global markets. My investments gave me a nice passive income for my livelihood.

I am blessed with many blessings. I own a three-bedroom luxurious condominium unit located in a good location, investment properties and stocks which generate passive income and a continental luxury sedan. I have a happy family, good friends, overseas holidays, etc.

I have also taken better care of my health. My health has improved. I can enjoy life more with better health.

I am very grateful for all my blessings.

I am looking forward to my 50th birthday.
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  #11335 (permalink)  
Old 24-12-2017, 10:07 AM
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Thanks for sharing. Let me share my 2017.

On the financial side, we are doing ok. Our small condo is almost paid up, we can actually clear the mortgage if we want to but since our mortgage rate is still lower than CPF rate of 2.5%, we don't want to pay off. If the banks raise mortgage rates to above 2.5%, we will clear our mortgage. We will advise family and friends to clear their mortgage as fast as possible.

We will soon approach 55 years old. We want to retire at 55. We aim to generate a passive income of $4k pm by 55 which will be enough for the two of us in retirement. We may not need a car by then. Can always use delivery service for buying cooked food, groceries, etc. We can cook our own delicious and nutritious meals. As our condo is near an MRT station, we can travel easily around the island. A car will cost at least $2k pm to own and maintain. Stupid waste of money, especially since we don't need a car when we retire.

We don't need so much money to retire as long as we have medical insurance to cover major medical expenses if needed. Food and utilities don't cost much for two old persons. You don't need a passive income of $100k pa to retire unless you want to own a luxury car, employ a maid, eat at restaurants 3x a week, go to Europe for holidays 2x a year, party every weekend, etc. A retired couple with modest lifestyle will just need $3k pm, assuming their retirement home is paid up and they are debt free.


Quote:
Originally Posted by Unregistered View Post
Review of 2017

2017 was a good year.

I have enjoyed 5 years of happy retirement from the corporate world. My wealth also grew in tandem with the global markets. My investments gave me a nice passive income for my livelihood.

I am blessed with many blessings. I own a three-bedroom luxurious condominium unit located in a good location, investment properties and stocks which generate passive income and a continental luxury sedan. I have a happy family, good friends, overseas holidays, etc.

I have also taken better care of my health. My health has improved. I can enjoy life more with better health.

I am very grateful for all my blessings.

I am looking forward to my 50th birthday.
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  #11336 (permalink)  
Old 25-12-2017, 09:57 AM
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Default Happy Holidays

Hi everyone,

Would like to wish one and all a happy holiday!

I have not written here for a long while; was kept busy by work. This long weekend has been a much needed and welcomed break. It also gave me time to unwind and reflect on what the past year has been and what I should focus on for the new year.

All in all, 2017 has been another great year in almost all aspects. Children doing well at work, family in good health and happy, and networth grew at a healthy clip. In 2017, we made short trips to Queensland Australia, KL and Taiwan.

Next year my wife and I will be 58, and will still be working. Working is optional for us and when work is optional, it is actually less stressful. We will work as long as we feel we can still contribute and as long as our companies want us.

In terms of financial health, our networth grew by $400k in 2017 (barring unforeseen circumstances in the last one week to 2018).

At 58, and with our children in the workforce, we are truly in the golden period of our wealth building phase. The golden period is where your salary peaks (or is peaking), your investments bear fruits while your financial obligations diminish. For typical families, this golden period should stretch from 55/56 to 65.

Families should exploit this golden period to build / shore up their retirement nest eggs. Sadly, many people chose to quit work right smack into this period.

Anyway, to each his own.

Once again, happy holidays!
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  #11337 (permalink)  
Old 26-12-2017, 11:52 AM
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You are our inspiration! We all should aspire to be like you. Work hard in our initial years and retire early. Free to do whatever we want to achieve our life's goals.


Quote:
Originally Posted by Unregistered View Post
Review of 2017

2017 was a good year.

I have enjoyed 5 years of happy retirement from the corporate world. My wealth also grew in tandem with the global markets. My investments gave me a nice passive income for my livelihood.

I am blessed with many blessings. I own a three-bedroom luxurious condominium unit located in a good location, investment properties and stocks which generate passive income and a continental luxury sedan. I have a happy family, good friends, overseas holidays, etc.

I have also taken better care of my health. My health has improved. I can enjoy life more with better health.

I am very grateful for all my blessings.

I am looking forward to my 50th birthday.
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  #11338 (permalink)  
Old 30-12-2017, 11:19 AM
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Now is a good time to do self refelction as we approach the year end.

Have we done anything meaningful in our life besides earning money and enjoying?

Have we made the lives of the poor and needy better? Have we volnuteered our precious time in welfare homes? Donating is not good enough.

Life is not all about money and making more money as this will not follow you to the grave. The fool will think life is all about being rich.

Make a difference. Make the world a better place for the poor, needy and homeless.

Happy 2018.
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  #11339 (permalink)  
Old 07-01-2018, 09:38 PM
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Our combined income is $180k pa. We live in a 3 bedroom condo, currently worth $1m. Outstanding loan $140k. We drive a luxury car, which is paid up. We save about $30k pa. Our total net worth is about $2m. We are 51 years old. How are we doing? Can we retire soon?
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  #11340 (permalink)  
Old 07-01-2018, 11:59 PM
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Quote:
Originally Posted by Unregistered View Post
Our combined income is $180k pa. We live in a 3 bedroom condo, currently worth $1m. Outstanding loan $140k. We drive a luxury car, which is paid up. We save about $30k pa. Our total net worth is about $2m. We are 51 years old. How are we doing? Can we retire soon?
i find it hard to believe that you are asking this question. anyway, giving you the benefit of doubt, it really isn't v hard to tell whether if you can retire soon..

1) set aside sufficient cash to repay the o/s loan of S$140k... you don't have to do a lumpsum repayment if you can invest and get higher returns that the interests expense.... just make sure you have the money to repay if the interest rate goes up

2) you should be able to forecast your monthly / annual living expenses considering you have been incurring it for the past 20-30 years... take that and extrapolate for another 30 years down the road (taking into consideration CPF life - BRS / FRS / ERS) and make sure you have sufficient funds before you retire lor


ultimately, if things really go south, are you prepared to sell your condo and downgrade? give up your luxury car?

if you can do that you can retire almost anytime.... 2m networth is sufficient for you to use till death, unless of cos you wanna eat caviar for 3 meals... nothing is enough


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