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06-04-2022, 11:03 AM
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Quote:
Originally Posted by Unregistered
There are professionals in their forties who were not bankers but worked in the corporate world. They did well in their investments and able to retire from their corporate jobs and pursue their own dreams. Some become entrepreneurs while others become venture capitalists and angel investors. They advise those companies they invested in. There are also those who are enlightened and no longer pursue wealth but instead seek a deeper meaning of life by volunteering their time and energy for free to help the poor and needy. These people are happy and contented. They don’t need stuff to make them happy.
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With more than enough and be a blessing to others is the ideal way of life. High flying executives can opt to retire while in their 50s or even in late 40s. No need to continue in the rat race anymore!
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06-04-2022, 01:49 PM
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Quote:
Originally Posted by Unregistered
With more than enough and be a blessing to others is the ideal way of life. High flying executives can opt to retire while in their 50s or even in late 40s. No need to continue in the rat race anymore!
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Yes, if your HDB flat is paid up and you have cash savings, you can quit the rat race. Enjoy a peaceful retirement life and be a blessing to others.
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07-04-2022, 03:44 PM
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Quote:
Originally Posted by Unregistered
Yes, if your HDB flat is paid up and you have cash savings, you can quit the rat race. Enjoy a peaceful retirement life and be a blessing to others. |
My wife and I can retire at 55. We can sell our condo and move to a smaller condo. This should give us cash of about $500k. Our CPF OA can give us $300k. So with $800k, this would suffice for our retirement needs from age 55 to 65. Beyond 65, our CPF Life annuity will give us passive income for the rest of our lives. We plan to volunteer and pursue our hobbies during our retirement years. We are looking forward to our retirement!
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08-04-2022, 02:36 AM
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2012 - 51k annual (GLC)
2022 - 250k annual (MNC)
35/m and single. 5x annual in 10 years, i'd say not bad.
Don't know if I should buy resale or continue save up to buy pvt.
Thoughts?
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09-04-2022, 08:33 PM
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Quote:
Originally Posted by Unregistered
My wife and I can retire at 55. We can sell our condo and move to a smaller condo. This should give us cash of about $500k. Our CPF OA can give us $300k. So with $800k, this would suffice for our retirement needs from age 55 to 65. Beyond 65, our CPF Life annuity will give us passive income for the rest of our lives. We plan to volunteer and pursue our hobbies during our retirement years. We are looking forward to our retirement! |
This is a good idea. Many people downgrade when they retire as they don’t need a big home anymore as their children will have their own homes. For those owning a HDB flat, they can downgrade from a 4 or 5 room flat to a 2 room flat. So we can get about $300k cash when we downgrade upon retirement at 55. If our CPF OA have $200k, we will have $500k to retire at 55. Our CPF Life will take care of us from 65.
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09-04-2022, 08:45 PM
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retiring in Singapoor is the most depressing ******** ever. have fun letting the government dictate how much of ur savings u should receive.
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10-04-2022, 05:00 PM
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Quote:
Originally Posted by Unregistered
In Singapore it is not difficult to retire at 55 yo as long as your flat is fully paid. A person can get by with $1000 pm if he is not lavish in his spending.
The tough one is to retire at 45. Only the most successful high flyers in society can retire at 45. These people will retire after they clear their condo mortgage and car loan.
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Not true. Many still cannot retire at 55. They still got housing loan, car loan, credit card debt, etc. Many like to spend beyond their means buying expensive property, expensive cars, go holidays, etc. They look rich but are actually broke. Just to show off.
Only those who manage their finances well can retire at 55. They cleared their HDB loan, no car loan, etc. They are debt free. When they collect their CPF OA at 55, they have enough cash to retire as they don’t spend much since they are debt free and live a humble retirement lifestyle with no car. They cook their own meals and clean their house by themselves. For a retired couple, they just need $30k pa for food, utilities, insurance and basic necessities.
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10-04-2022, 05:09 PM
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Quote:
Originally Posted by Unregistered
In Singapore it is not difficult to retire at 55 yo as long as your flat is fully paid. A person can get by with $1000 pm if he is not lavish in his spending.
The tough one is to retire at 45. Only the most successful high flyers in society can retire at 45. These people will retire after they clear their condo mortgage and car loan.
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retire at 55?
lmao you wish. even your CPF account ******** gets locked before you're 65+. Good luck.
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