How much are you earning per annum?

Originally Posted by Unregistered

If you have enough no need to work anymore. Just spend it. Your kids can work hard and accumulate their own wealth. Parents who leave behind millions to their kids are spoiling them. Make them weak. I don’t plan to leave behind much to my kids. I’m thinking of retiring after downgrading from a condo to a HDB flat. Need the cash to retire early at 55.

We can only try to give our kids as good an education as possible.

But property is quite expensive we may need to help them. My dad helped me too. About a S$100k and he bought me a car to go NUS daily from home.

Just as my dad helped me, I hope to be able to help my kids too.

Originally Posted by Unregistered

If you have enough no need to work anymore. Just spend it. Your kids can work hard and accumulate their own wealth. Parents who leave behind millions to their kids are spoiling them. Make them weak. I don’t plan to leave behind much to my kids. I’m thinking of retiring after downgrading from a condo to a HDB flat. Need the cash to retire early at 55.

hilarious

dont expect ur kids to babysit ur dumb old ass

Originally Posted by Unregistered

hilarious

dont expect ur kids to babysit ur dumb old ass

Don't have kids if your motive is for them to take care of u. If they turn out to be more of a liability than asset, u are fooked.

Originally Posted by Unregistered

He has first class honours in electrical engineering. I believe he will find it too demeaning. Being a Grabdriver was alteady a blow to his ego.

If he is still harping on the FCH he has attained around 30 years ago, he must have an unbelievably huge ego.

Originally Posted by Unregistered

If you have enough no need to work anymore. Just spend it. Your kids can work hard and accumulate their own wealth. Parents who leave behind millions to their kids are spoiling them. Make them weak. I don’t plan to leave behind much to my kids. I’m thinking of retiring after downgrading from a condo to a HDB flat. Need the cash to retire early at 55.

I agree with this. Nowadays the younger generation is a strawberry generation because of parents who pamper them. Downgrading is a good way to retire early. I did that. Most Singaporean families (80%) live in HDB flats. No big deal retiring in a flat. Our life is short. Yolo. So enjoy retirement! FIRE. Financial independence retire early.

Originally Posted by Unregistered

Don't have kids if your motive is for them to take care of u. If they turn out to be more of a liability than asset, u are fooked.

kids are not an asset lmfao typical uneducated singaporean trash, u stuck in the 1980s?

educate ur kids, let them be free, if they choose to help you in the end out of their own free-will, you know you raised some good ass kids and you were a good parent.

if they choose not to? you deserve it.

just my 2 cents, dont cry about it, im not ur kid so idgaf

Originally Posted by Unregistered

I agree with this. Nowadays the younger generation is a strawberry generation because of parents who pamper them. Downgrading is a good way to retire early. I did that. Most Singaporean families (80%) live in HDB flats. No big deal retiring in a flat. Our life is short. Yolo. So enjoy retirement! FIRE. Financial independence retire early.

What do you guys thinking about semi-retiring at 40, taking on a job which is not demanding and pays around 2 to 3K pm, assuming passive income is at 1.3K pm, and monthly expenses is at 900pm.

Originally Posted by Unregistered

What do you guys thinking about semi-retiring at 40, taking on a job which is not demanding and pays around 2 to 3K pm, assuming passive income is at 1.3K pm, and monthly expenses is at 900pm.

If you’re single and no plans to marry, have paid up your mortgage, has no dependents, has medical insurance and confident to maintain your expenses, then it may be possible. If you earn $3k and spend $1k, you can still save $2k every month. Get professional advice for your situation.

Originally Posted by Unregistered

What do you guys thinking about semi-retiring at 40, taking on a job which is not demanding and pays around 2 to 3K pm, assuming passive income is at 1.3K pm, and monthly expenses is at 900pm.

That's an awful idea lol.

I'm going to make a few assumptions here, feel free to correct any of it and reply again for further advice.

2-3k PM, after CPF and tax? so let's say on average, 2.5k PM right?

2.5k - 900 = 1.4k monthly free cash + your passive income = 2.7k free cash.

What job is this? WFH? full remote? Highly unlikely, most tech jobs in SG aren't even full remote anymore but of course, feel free to correct me if I'm wrong here. So assuming you need to stay in SG, let's say it's not demanding so assuming 8 - 3PM worktime max.

What are you gonna do after 3PM?

You can't travel overseas right? even if it's full remote job there's conditions that you have to abide by such as "working from home country" etc.

You gonna stay at home? Travel around SG? that's gonna get boring real fast, SG is boring af.

All of this is assuming if you even get an amazing job that lets you off after 3PM.

Most people retire at 50s because it's worth it to grind hard, earn 8-12k PM, build up assets, investments, etc so that they can quit fully, have actual free time ( 24 / 7 ) to do whatever they want. Travel the world, live in a different country for a year, go sailing, sky diving, whatever.

Semi-retiring is not an actual thing. If you are working on someone else's time then you are not retired at all. IF your boss suddenly calls you to come office at 5PM, what are you gonna say? "No boss I'm semi-retired, fk you bye"

No right?

I worked hard in school and in my career. I’m able to buy private properties. Now I have a fully paid condo worth at least $1.3 mil. So I have the option to retire at 55 after selling my condo and buying a 3 room HDB flat. I can relax, travel and enjoy retirement. I don’t need to leave behind anything much. I won’t bring my wealth to my grave. So why work another 10 years? Just retire by downgrading and free up cash.