How much are you earning per annum?

You are a very shallow person.

Originally Posted by Unregistered

People tend to take things for granted until we dont have them. By then regretting is too late and it is hard to get those things back. Here, I will focus on being on employment versus being a retiree / unemployed.

Financial aspects
The most prominent difference is the salary. The moment you are unemployed, be it retired or retrenched, you stopped receiving that monthly bundle of joy - the salary. This salary brings joy not only to yourself but your dependents too.

Then there is the bonus. This is where you will treat yourself to something special, bring your family for a good holiday or simply shore up your retirement fund! Getting this bonus is what many workers look forward to each year. Once retired, nothing like this to look forward to.

As an employee, I get subsidized medical care, not just for myself but my family members are covered too! Both outpatient and hospitalization. Once out of job, everything is going to come out of your own pocket.

Most companies also provide company scheme subsidies for personal telco services for their employees. As a retiree, you pay full fees for the same telco services.

Getting paid while on leave, while holidaying overseas is another big perk I will sorely miss if I was not employed. Knowing that while I am enjoying a great holiday with my family and yet seeing my salary being credited to my account is something only those who are employed are relate to.

Then there is the CPF contribution that employers have to pay their workers. Though, we may not be able to touch that contribution until 55, the contribution does add up to another nice bundle of joy!

Non financial aspects
As salaried people, we always look forward to weekends and holidays. The eves of holidays are particularly exciting. Think everyday will be the same if I were a retiree.

Training and specialised courses are provided to us at companies' expense. Outside of work, we will be paying for training and courses out of own pocket.

Then there is the knowledge and satisfaction that in some way you are contributing to society when you are gainfully employed. You tend to lose that sense of self worth and esteem when you are no longer in employment.

How about yourself? Deep learned person?

Originally Posted by Unregistered

You are a very shallow person.

Originally Posted by Unregistered

52, retired. Ex high flyer corporate executive.
Condo paid up. Luxury continental car paid up.
Earns passive income.
Engaged in volunteer humanitarian work. Feels very fulfilled and happy.
Other activities include long exercises, jogging, reading, investing, learning new things, pursuing hobbies, traveling, etc.
Even though I'm not a billionaire, I am a millionaire who is rich enough to retire and do more meaningful things in life. You don't need to be a billionaire to be happy.
Life is short.

Hi friend,

Your storytelling skills are great. Do you fancy writing some good local short stories for us? I must caution you that if you are interested, we need you to have more creativity as we noticed you always use the same format for your stories here.

37, divorced. Currently a banker (operations and projects)
Took over HDB flat as sole owner - loan outstanding 380K, valuation at 800K
Small continental car, outstanding 50k
2016 Annual was 200K+ this year should be expecting 250K+ due to promotion with better bonus.
Other than these 2 big tickets items, no other debts.
Cash and other liquid assets runs to 100K, still trying to build passive income. Half of wealth was wipe due to divorce and ex wife habit’s.
Planning to settle my flat and get an second property. Not planning to settle down again in the short to mid term.
Enjoying single life.

Given my profile, just wondering how much should I be setting aside so it’s comfortable?

You have enough wealth to retire but you don't want to just because you want to leave behind your millions to your children. Not wise.

Originally Posted by Unregistered

People tend to take things for granted until we dont have them. By then regretting is too late and it is hard to get those things back. Here, I will focus on being on employment versus being a retiree / unemployed.

Financial aspects
The most prominent difference is the salary. The moment you are unemployed, be it retired or retrenched, you stopped receiving that monthly bundle of joy - the salary. This salary brings joy not only to yourself but your dependents too.

Then there is the bonus. This is where you will treat yourself to something special, bring your family for a good holiday or simply shore up your retirement fund! Getting this bonus is what many workers look forward to each year. Once retired, nothing like this to look forward to.

As an employee, I get subsidized medical care, not just for myself but my family members are covered too! Both outpatient and hospitalization. Once out of job, everything is going to come out of your own pocket.

Most companies also provide company scheme subsidies for personal telco services for their employees. As a retiree, you pay full fees for the same telco services.

Getting paid while on leave, while holidaying overseas is another big perk I will sorely miss if I was not employed. Knowing that while I am enjoying a great holiday with my family and yet seeing my salary being credited to my account is something only those who are employed are relate to.

Then there is the CPF contribution that employers have to pay their workers. Though, we may not be able to touch that contribution until 55, the contribution does add up to another nice bundle of joy!

Non financial aspects
As salaried people, we always look forward to weekends and holidays. The eves of holidays are particularly exciting. Think everyday will be the same if I were a retiree.

Training and specialised courses are provided to us at companies' expense. Outside of work, we will be paying for training and courses out of own pocket.

Then there is the knowledge and satisfaction that in some way you are contributing to society when you are gainfully employed. You tend to lose that sense of self worth and esteem when you are no longer in employment.

Mate, your in projects. Treat your life like project estimate your monthly burn rate using a typical ROI in stocks and you can work out how much you need to be comfy

Originally Posted by Unregistered

37, divorced. Currently a banker (operations and projects)
Took over HDB flat as sole owner - loan outstanding 380K, valuation at 800K
Small continental car, outstanding 50k
2016 Annual was 200K+ this year should be expecting 250K+ due to promotion with better bonus.
Other than these 2 big tickets items, no other debts.
Cash and other liquid assets runs to 100K, still trying to build passive income. Half of wealth was wipe due to divorce and ex wife habit’s.
Planning to settle my flat and get an second property. Not planning to settle down again in the short to mid term.
Enjoying single life.

Given my profile, just wondering how much should I be setting aside so it’s comfortable?

Originally Posted by Unregistered_101

Mate, your in projects. Treat your life like project estimate your monthly burn rate using a typical ROI in stocks and you can work out how much you need to be comfy

my thoughts exactly... for somebody who is bagging 200-250k per annum and at the age of 37, he is asking questions like how much should he be setting aside to be comfortable.

for sure, nobody will know what is your definition of comfortable.

and, if you are as ignorant as you sound, you wouldn't be earning 200-250k p.a.

sounds like somebody is trolling and seeking attention

Originally Posted by Unregistered

People tend to take things for granted until we dont have them. By then regretting is too late and it is hard to get those things back. Here, I will focus on being on employment versus being a retiree / unemployed.

Financial aspects
The most prominent difference is the salary. The moment you are unemployed, be it retired or retrenched, you stopped receiving that monthly bundle of joy - the salary. This salary brings joy not only to yourself but your dependents too.

Then there is the bonus. This is where you will treat yourself to something special, bring your family for a good holiday or simply shore up your retirement fund! Getting this bonus is what many workers look forward to each year. Once retired, nothing like this to look forward to.

As an employee, I get subsidized medical care, not just for myself but my family members are covered too! Both outpatient and hospitalization. Once out of job, everything is going to come out of your own pocket.

Most companies also provide company scheme subsidies for personal telco services for their employees. As a retiree, you pay full fees for the same telco services.

Getting paid while on leave, while holidaying overseas is another big perk I will sorely miss if I was not employed. Knowing that while I am enjoying a great holiday with my family and yet seeing my salary being credited to my account is something only those who are employed are relate to.

Then there is the CPF contribution that employers have to pay their workers. Though, we may not be able to touch that contribution until 55, the contribution does add up to another nice bundle of joy!

Non financial aspects
As salaried people, we always look forward to weekends and holidays. The eves of holidays are particularly exciting. Think everyday will be the same if I were a retiree.

Training and specialised courses are provided to us at companies' expense. Outside of work, we will be paying for training and courses out of own pocket.

Then there is the knowledge and satisfaction that in some way you are contributing to society when you are gainfully employed. You tend to lose that sense of self worth and esteem when you are no longer in employment.

Sorry I could only do this part 2 of the comparison now. Was so caught up with work, rushing to meet deadlines and the like, the last few days.

One of the observations I drew from meeting up with colleagues who have retired was this:

If they retired young (below 50), they exhibited a sense of insecurity. They gave me the impression that they regretted their decision to retire early. They also seem lost as to what to do with their lives. They were also jealous about us who were still working at our age (> 55 yo). One lamented to me that he was lonely as most of his friends and colleagues were at work while he was trying to plan something to do.

Those who retired older (60 and above) seemed a lot happier. They behaved and seemed more contented. They gave a feeling that they have done their part, and now its their time to enjoy their lives.

So, drawing from this observation I would think that if you have built up your wealth, and still young (< 50 yo), instead of retiring outright, it is better to do some other job that is less stressful but more enjoyable.

For us, our investment built up over the years have started to bear bountiful "fruits". It has grown to be more than our yearly expenses. This has an exponential effect on our wealth building as we can save and invest our yearly salaries. If we were retired, we would be spending this passive income and not re-investing it for more growth.

Will you bring all your money to the grave when you pass away? History has shown most men are fools. They think they will live forever.

Originally Posted by Unregistered

Sorry I could only do this part 2 of the comparison now. Was so caught up with work, rushing to meet deadlines and the like, the last few days.

One of the observations I drew from meeting up with colleagues who have retired was this:

If they retired young (below 50), they exhibited a sense of insecurity. They gave me the impression that they regretted their decision to retire early. They also seem lost as to what to do with their lives. They were also jealous about us who were still working at our age (> 55 yo). One lamented to me that he was lonely as most of his friends and colleagues were at work while he was trying to plan something to do.

Those who retired older (60 and above) seemed a lot happier. They behaved and seemed more contented. They gave a feeling that they have done their part, and now its their time to enjoy their lives.

So, drawing from this observation I would think that if you have built up your wealth, and still young (< 50 yo), instead of retiring outright, it is better to do some other job that is less stressful but more enjoyable.

For us, our investment built up over the years have started to bear bountiful "fruits". It has grown to be more than our yearly expenses. This has an exponential effect on our wealth building as we can save and invest our yearly salaries. If we were retired, we would be spending this passive income and not re-investing it for more growth.

Guess we have to assume such postings in this thread especially is mainly populated by clueless rich people and a repetitive old man and his groupies

Originally Posted by Unregistered

my thoughts exactly... for somebody who is bagging 200-250k per annum and at the age of 37, he is asking questions like how much should he be setting aside to be comfortable.

for sure, nobody will know what is your definition of comfortable.

and, if you are as ignorant as you sound, you wouldn't be earning 200-250k p.a.

sounds like somebody is trolling and seeking attention