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How much are you earning per annum?

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  #13481 (permalink)  
Old 20-12-2022, 08:51 AM
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i dont think u know what FIRE actually means lol

ure retiring overseas because u dont have enough $$$

thats like me retiring in thailand at 40 then saying FIRE when the reality is that i cant afford the housing and living cost in SG
What makes SG so special that it must be used as the benchmark?

The world is a big place, you can retire wherever you want.

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  #13482 (permalink)  
Old 20-12-2022, 01:58 PM
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FIRE simply means financial independence and retire early.
As long as you have achieved FI (your passive income is greater than expenses), then you can retire.

Donít be a frog in the well.

So many people retire by living in cheaper locations. Westerners retire in Asia.

You work hard to build assets in Singapore then retire in a cheaper country.

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  #13483 (permalink)  
Old 20-12-2022, 02:08 PM
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Happy to say that I have achieved FIRE.

I saved up about 1m SGD from 25 years old and I'm 32 now.

Once I sell my house ( 1.4m lowest evaluation quick sell ), I can get about 2.6m SGD total cash, I can retire in Thailand and survive with no passive income whatsoever since I estimated that I can live there with a rented place at a estimated cost of 4k monthly SGD which will last me exactly around 54+ years.

32 + 54 = 86, I doubt I'll survive past 70. Life is great.

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  #13484 (permalink)  
Old 20-12-2022, 02:33 PM
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We are in our mid 50s
We can retire now if we wish to
We can rent out our condo for S$4k pm
This is a lot of money to retire in Malaysia, Thailand, Indonesia, etc
We are debt free
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  #13485 (permalink)  
Old 20-12-2022, 07:29 PM
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We are in our mid 50s
We can retire now if we wish to
We can rent out our condo for S$4k pm
This is a lot of money to retire in Malaysia, Thailand, Indonesia, etc
We are debt free
"can rent" and people actually renting are 2 different things, u need to account for possibility of no one wanting to rent ur condo
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  #13486 (permalink)  
Old 20-12-2022, 11:02 PM
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"can rent" and people actually renting are 2 different things, u need to account for possibility of no one wanting to rent ur condo
nah, everyone is living in their make believe world
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  #13487 (permalink)  
Old 21-12-2022, 08:07 AM
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We are in our mid 50s
We can retire now if we wish to
We can rent out our condo for S$4k pm
This is a lot of money to retire in Malaysia, Thailand, Indonesia, etc
We are debt free
similar here.

we are in early 50s, and owns 2 condo - stay in one, and rent out the other
in fact, we can move in to our parents HDB, and rent out both condos. possible to get $6k + $4k = $10k rentals per month

We are debt free as well.

Life is good.
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  #13488 (permalink)  
Old 21-12-2022, 10:53 AM
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Quote:
Originally Posted by Unregistered View Post
We are in our mid 50s
We can retire now if we wish to
We can rent out our condo for S$4k pm
This is a lot of money to retire in Malaysia, Thailand, Indonesia, etc
We are debt free
Most important question: are you able to retire in Singapore where the healthcare, security systems are much better?
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  #13489 (permalink)  
Old 21-12-2022, 06:50 PM
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What makes SG so special that it must be used as the benchmark?

The world is a big place, you can retire wherever you want.
The context. You can retire in a 3rd world country and call yourself a "billionaire" just to satisfy your ego. Just like FIRE, you will be called a BILLIONAIRE too.

the real FIRE is when you achieve it in same country you live in. Otherwise, its all about satisfying your ego.
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  #13490 (permalink)  
Old 21-12-2022, 08:20 PM
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The context. You can retire in a 3rd world country and call yourself a "billionaire" just to satisfy your ego. Just like FIRE, you will be called a BILLIONAIRE too.

the real FIRE is when you achieve it in same country you live in. Otherwise, its all about satisfying your ego.
Exactly this.

Can also eat like a peasant, live in some small 1 room rental co-sharing, never travel overseas, everyday stay at home play games and say "oh I achieved FIRE" lmfao what a joke.

Go post your plans over /r/financialindependence and they will f**king laugh at you.
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