How much are you earning per annum?

Former finance professional.
Retired at 44 after a successful career.
Lives in a mortgage-free 3 bedroom condominium unit.
Drives a continental luxury car.

Grew up in a lower middle class family.
Did well in school and career.
Moved up the social and economic ladder.
Moved up to the upper class.
Achieved the Singapore Dream.

Earning passive income from investment portfolio.
Net worth grew steadily over the years.

Besides growing my investments and spending more time with my family, I volunteer to help the community.

Life is indeed a lot better now.
I am happier and healthier.
Life is more meaningful and fulfilling.
Life is not about the endless pursuit of material wealth.

True wealth = sufficient material wealth + spiritual and emotional wealth + physical and mental health + free time to enjoy and do what we want + travel the world + lots of reading on many subject matters + meaningful fulfilling relationships + giving back to society + richness in life experiences.

So many things to do and accomplish but so little time.

Time on this earth is the most valuable asset which no one knows how much he is given. No one knows when he is going to die. Every second spent will be gone forever. A lucky few will die in their 90s while most will die in their 70s to 80s. Some people will die in their 50s and 60s before they can enjoy a single day of retirement.

I am very fortunate and blessed to be able to retire at 44. I have so far enjoyed six years of early retirement.

I am very happy and grateful as I have achieved FIRE (Financial Independence Retire Early) while still enjoying a very good and comfortable lifestyle.

3 bedroom condo debt free is upper class meh? i think still middle class only la

Originally Posted by Unregistered

3 bedroom condo debt free is upper class meh? i think still middle class only la

I think depends on the value of this condo.

Originally Posted by Unregistered

My wife and I are your typical mid-level managers with modest salaries that were barely above the average income. We will be retiring soon at 62, and we are comforted and pleased that we have built up a networth of close to $10M. Built up through the slow and steady way. Granted that we were living a modest lifestyle all along. Upgraded to a 4 bedroom condo around 10 years back, we each have a simple jap car and only have an overseas holiday trip once a year!

Is it even possible to accumulate $10m given that you are "mid-level managers with modest salaries"?

The only explanation I can think of is that you betted correctly on properties, at least several times during the past 2 or 3 property booms. Is that correct?

I think it is not depending on the value. It is depending on his networth. Anywhere he didn't comment that he is upper class.

I know few ppl that stayed in HDB or smaller landed that are networth more than $30M.

Don't always judge by what the person wears, stay, drive.

Originally Posted by Unregistered

I think depends on the value of this condo.

Me:
Experience: 7yrs (5 yrs technical + 2 yrs Project Management)
Skill: Programming (9/10), Management (8/10), Communication (6/10)
Current paid: Less than 6k monthly
Industry: Semicon (first company till now)

Sincerely look for suggestion for better pay company/industry.

Originally Posted by Unregistered

That's why those people are gone case... throw a stone and you easily hit a 100k 30 year old. Among my close friends, we are going for the "200k by 35" goal instead. At least that's a challenge, given that you start at 50k at age 25.

that...explains a lot actually. i started off way less than 50k at the age of 25. Meh, hahaha. good luck to you and your friends on your goals!

Originally Posted by Unregistered

I think it is not depending on the value. It is depending on his networth. Anywhere he didn't comment that he is upper class.

I know few ppl that stayed in HDB or smaller landed that are networth more than $30M.

Don't always judge by what the person wears, stay, drive.

Hdb is not an asset. The condo itself is already an asset which should be counted into networth.

We are an average family, not poor but not rich. Our combined annual income is about $160k pa (a lot lesser than many rich forumers here) and we are in our late 40s. We own a cheap two-bedder condo in the OCR. We still have a loan on the condo, which we hope to clear in five years time.

Our new year resolution is to retire when we reach 60. We will retire in our condo. We will not own a car when we retire as it is expensive to own a car here. We will take the bus and MRT. Most of the retirees in our condo don’t own a car.

Our cash savings will fund our retirement from age 60 to 65.

From age 65 onwards, CPF Life will fund our retirement. We will get $4k pm ($48k pa) from CPF Life. This is more than what we need.

Our expected retirement expenses

Food and groceries $700 pm
Bus and MRT $100 pm
Health insurance premiums and medical expenses $600 pm
Utilities and condo fees $600 pm
Holidays $3600 pa or $300 pm
Miscellaneous $200 pm

Total retirement expenses $2500 pm or $30k pa. We can save $1500 pm ($18k pa) to take care of future inflation.

Originally Posted by Unregistered

We are an average family, not poor but not rich. Our combined annual income is about $160k pa (a lot lesser than many rich forumers here) and we are in our late 40s. We own a cheap two-bedder condo in the OCR. We still have a loan on the condo, which we hope to clear in five years time.

Our new year resolution is to retire when we reach 60. We will retire in our condo. We will not own a car when we retire as it is expensive to own a car here. We will take the bus and MRT. Most of the retirees in our condo don’t own a car.

Our cash savings will fund our retirement from age 60 to 65.

From age 65 onwards, CPF Life will fund our retirement. We will get $4k pm ($48k pa) from CPF Life. This is more than what we need.

Our expected retirement expenses

Food and groceries $700 pm
Bus and MRT $100 pm
Health insurance premiums and medical expenses $600 pm
Utilities and condo fees $600 pm
Holidays $3600 pa or $300 pm
Miscellaneous $200 pm

Total retirement expenses $2500 pm or $30k pa. We can save $1500 pm ($18k pa) to take care of future inflation.

Nice planning....
If want to stretched abit ore can sell Condo buy resale HDB. Unless you enjoy the facilities alot at the Condo and uses it, otherwise it is kinda "wasteful" to spend on Condo fees monthly. Technically we don't need security guard in SG, it is safe here.