How much are you earning per annum?

Originally Posted by Unregistered

Middle class couple, 60 yo. Retired from our corporate jobs recently. Our 4 room HDB flat is mortgage free. Worth $600k.

We have a modest retirement lifestyle. Sold our car. Our expenses now $40k pa. We have cash $200k to spend between 60 to 65. We also have spare savings $150k (kept in fixed deposits) for stand by for any emergency needs.

Our passive income at 65 is $5k pm ($60k pa) from dividends and CPF Life.

We enjoy our retirement lifestyle now with lots of free time and relaxation. Stress free life. We are happier now.

If we need more money we can downgrade to a 2 bedroom HDB flat for the elderly or we can rent out our two spare rooms. However we don’t think we need to exercise these options as our expenses are fully covered by our retirement income. Our passive retirement income is more than our expenses. We are financially independent.

Thank you for sharing. You have inspired us. We now plan to retire early when we reach 55 soon. We can downgrade from our condo unit and then buy a 5 room HDB flat. We will also collect our CPF at 55 after setting aside our CPF Life. After downgrading and taking CPF we can get $800k cash. From 55 to 65 we will spend $500k. From 65 onwards our CPF Life will fund our retirement until we pass away. We hope to spend more time together and rest more. Our health is not so good.

Become a scammer.

Easily get millions of dollars and it is tax free.

I have retired at age 55 and this is how I do it. I am writing a book therefore I am an expert. You have to listen to me as for I am an expert. I am not Singaporean, I am from India but many Indians have great success in Singapore because we know the secret to retirement while you Singaporeans do not. Let me share the secrets.

Retirement is a significant milestone in one's life, representing the culmination of years of hard work and dedication. While traditional retirement ages hover around 65, an increasing number of individuals aspire to achieve financial independence and retire earlier. This essay delves into the story of how one individual, with careful planning, discipline, and strategic decision-making, managed to retire at the age of 55 in Singapore, a city-state renowned for its high living costs and competitive environment.

Setting Clear Retirement Goals:
At a relatively young age, our protagonist recognized the importance of setting clear retirement goals. By envisioning the desired lifestyle, they were able to calculate the required savings and investments needed to sustain themselves comfortably in retirement. They acknowledged that Singapore's high cost of living necessitated a robust financial plan, and they set ambitious targets accordingly.

Diligent Savings and Investments:
Retiring early in Singapore requires diligent savings and disciplined investments. Our retiree-to-be developed a habit of saving a significant portion of their income throughout their working years. They made informed decisions to cut unnecessary expenses, opting for a modest lifestyle, and diligently saved the surplus. Moreover, they educated themselves about different investment options and diversified their portfolio to maximize returns while mitigating risks.

Embracing the Power of Compounding:
One crucial aspect of early retirement is harnessing the power of compounding. By starting to invest early and consistently, our protagonist allowed their investments to grow exponentially over time. They took advantage of retirement-specific investment vehicles such as the Central Provident Fund (CPF) and explored other investment options like stocks, bonds, and real estate, which further accelerated their wealth accumulation.

Continuous Skill Development and Career Growth:
To retire early, our protagonist understood that it was vital to focus on continuous skill development and career growth. By staying relevant in their industry, they consistently sought opportunities for advancement and increased income potential. They took up additional certifications and attended professional development courses to enhance their marketability. This approach ensured a higher income trajectory, allowing them to accelerate their retirement savings.

Strategic Debt Management:
While it may seem counterintuitive, strategic debt management played a role in our retiree's journey. They recognized that not all debts are detrimental and understood the difference between good and bad debt. By leveraging debt wisely, such as taking advantage of low-interest mortgages for real estate investments, they were able to enhance their wealth while keeping a balanced financial outlook.

Seeking Professional Financial Advice:
Retiring early demands a thorough understanding of personal finance and investment strategies. Our retiree sought guidance from professional financial advisors who specialized in early retirement planning. These experts provided valuable insights, helping them navigate complex investment decisions, optimize tax strategies, and develop a sustainable retirement income plan.

Mindful Health and Well-being:
Achieving early retirement isn't solely about financial planning. Our protagonist recognized the importance of maintaining good health and well-being to enjoy retirement fully. They prioritized regular exercise, adopted a nutritious diet, and practiced mindfulness to manage stress effectively. By investing in their physical and mental well-being, they ensured a fulfilling retirement free from health-related limitations.

Conclusion:
Retiring at age 55 in Singapore is a remarkable accomplishment that requires meticulous planning, disciplined financial habits, and strategic decision-making. Our protagonist's story highlights the significance of setting clear retirement goals, diligent savings and investments, leveraging the power of compounding, continuous skill development, strategic debt management, seeking professional advice, and prioritizing health and well-being. Through their dedication and unwavering commitment, they created a solid financial foundation, enabling them to embrace a fulfilling and financially secure retirement in Singapore. Their journey serves as an inspiration for others aspiring to retire early, showcasing that with determination and careful planning, early retirement goals are within reach.

Originally Posted by Unregistered

I have retired at age 55 and this is how I do it. I am writing a book therefore I am an expert. You have to listen to me as for I am an expert. I am not Singaporean, I am from India but many Indians have great success in Singapore because we know the secret to retirement while you Singaporeans do not. Let me share the secrets.

Retirement is a significant milestone in one's life, representing the culmination of years of hard work and dedication. While traditional retirement ages hover around 65, an increasing number of individuals aspire to achieve financial independence and retire earlier. This essay delves into the story of how one individual, with careful planning, discipline, and strategic decision-making, managed to retire at the age of 55 in Singapore, a city-state renowned for its high living costs and competitive environment.

Setting Clear Retirement Goals:
At a relatively young age, our protagonist recognized the importance of setting clear retirement goals. By envisioning the desired lifestyle, they were able to calculate the required savings and investments needed to sustain themselves comfortably in retirement. They acknowledged that Singapore's high cost of living necessitated a robust financial plan, and they set ambitious targets accordingly.

Diligent Savings and Investments:
Retiring early in Singapore requires diligent savings and disciplined investments. Our retiree-to-be developed a habit of saving a significant portion of their income throughout their working years. They made informed decisions to cut unnecessary expenses, opting for a modest lifestyle, and diligently saved the surplus. Moreover, they educated themselves about different investment options and diversified their portfolio to maximize returns while mitigating risks.

Embracing the Power of Compounding:
One crucial aspect of early retirement is harnessing the power of compounding. By starting to invest early and consistently, our protagonist allowed their investments to grow exponentially over time. They took advantage of retirement-specific investment vehicles such as the Central Provident Fund (CPF) and explored other investment options like stocks, bonds, and real estate, which further accelerated their wealth accumulation.

Continuous Skill Development and Career Growth:
To retire early, our protagonist understood that it was vital to focus on continuous skill development and career growth. By staying relevant in their industry, they consistently sought opportunities for advancement and increased income potential. They took up additional certifications and attended professional development courses to enhance their marketability. This approach ensured a higher income trajectory, allowing them to accelerate their retirement savings.

Strategic Debt Management:
While it may seem counterintuitive, strategic debt management played a role in our retiree's journey. They recognized that not all debts are detrimental and understood the difference between good and bad debt. By leveraging debt wisely, such as taking advantage of low-interest mortgages for real estate investments, they were able to enhance their wealth while keeping a balanced financial outlook.

Seeking Professional Financial Advice:
Retiring early demands a thorough understanding of personal finance and investment strategies. Our retiree sought guidance from professional financial advisors who specialized in early retirement planning. These experts provided valuable insights, helping them navigate complex investment decisions, optimize tax strategies, and develop a sustainable retirement income plan.

Mindful Health and Well-being:
Achieving early retirement isn't solely about financial planning. Our protagonist recognized the importance of maintaining good health and well-being to enjoy retirement fully. They prioritized regular exercise, adopted a nutritious diet, and practiced mindfulness to manage stress effectively. By investing in their physical and mental well-being, they ensured a fulfilling retirement free from health-related limitations.

Conclusion:
Retiring at age 55 in Singapore is a remarkable accomplishment that requires meticulous planning, disciplined financial habits, and strategic decision-making. Our protagonist's story highlights the significance of setting clear retirement goals, diligent savings and investments, leveraging the power of compounding, continuous skill development, strategic debt management, seeking professional advice, and prioritizing health and well-being. Through their dedication and unwavering commitment, they created a solid financial foundation, enabling them to embrace a fulfilling and financially secure retirement in Singapore. Their journey serves as an inspiration for others aspiring to retire early, showcasing that with determination and careful planning, early retirement goals are within reach.

I retired at 44.
I was in investment banking.

Originally Posted by Unregistered

I have retired at age 55 and this is how I do it. I am writing a book therefore I am an expert. You have to listen to me as for I am an expert. I am not Singaporean, I am from India but many Indians have great success in Singapore because we know the secret to retirement while you Singaporeans do not. Let me share the secrets.

Retirement is a significant milestone in one's life, representing the culmination of years of hard work and dedication. While traditional retirement ages hover around 65, an increasing number of individuals aspire to achieve financial independence and retire earlier. This essay delves into the story of how one individual, with careful planning, discipline, and strategic decision-making, managed to retire at the age of 55 in Singapore, a city-state renowned for its high living costs and competitive environment.

Setting Clear Retirement Goals:
At a relatively young age, our protagonist recognized the importance of setting clear retirement goals. By envisioning the desired lifestyle, they were able to calculate the required savings and investments needed to sustain themselves comfortably in retirement. They acknowledged that Singapore's high cost of living necessitated a robust financial plan, and they set ambitious targets accordingly.

Diligent Savings and Investments:
Retiring early in Singapore requires diligent savings and disciplined investments. Our retiree-to-be developed a habit of saving a significant portion of their income throughout their working years. They made informed decisions to cut unnecessary expenses, opting for a modest lifestyle, and diligently saved the surplus. Moreover, they educated themselves about different investment options and diversified their portfolio to maximize returns while mitigating risks.

Embracing the Power of Compounding:
One crucial aspect of early retirement is harnessing the power of compounding. By starting to invest early and consistently, our protagonist allowed their investments to grow exponentially over time. They took advantage of retirement-specific investment vehicles such as the Central Provident Fund (CPF) and explored other investment options like stocks, bonds, and real estate, which further accelerated their wealth accumulation.

Continuous Skill Development and Career Growth:
To retire early, our protagonist understood that it was vital to focus on continuous skill development and career growth. By staying relevant in their industry, they consistently sought opportunities for advancement and increased income potential. They took up additional certifications and attended professional development courses to enhance their marketability. This approach ensured a higher income trajectory, allowing them to accelerate their retirement savings.

Strategic Debt Management:
While it may seem counterintuitive, strategic debt management played a role in our retiree's journey. They recognized that not all debts are detrimental and understood the difference between good and bad debt. By leveraging debt wisely, such as taking advantage of low-interest mortgages for real estate investments, they were able to enhance their wealth while keeping a balanced financial outlook.

Seeking Professional Financial Advice:
Retiring early demands a thorough understanding of personal finance and investment strategies. Our retiree sought guidance from professional financial advisors who specialized in early retirement planning. These experts provided valuable insights, helping them navigate complex investment decisions, optimize tax strategies, and develop a sustainable retirement income plan.

Mindful Health and Well-being:
Achieving early retirement isn't solely about financial planning. Our protagonist recognized the importance of maintaining good health and well-being to enjoy retirement fully. They prioritized regular exercise, adopted a nutritious diet, and practiced mindfulness to manage stress effectively. By investing in their physical and mental well-being, they ensured a fulfilling retirement free from health-related limitations.

Conclusion:
Retiring at age 55 in Singapore is a remarkable accomplishment that requires meticulous planning, disciplined financial habits, and strategic decision-making. Our protagonist's story highlights the significance of setting clear retirement goals, diligent savings and investments, leveraging the power of compounding, continuous skill development, strategic debt management, seeking professional advice, and prioritizing health and well-being. Through their dedication and unwavering commitment, they created a solid financial foundation, enabling them to embrace a fulfilling and financially secure retirement in Singapore. Their journey serves as an inspiration for others aspiring to retire early, showcasing that with determination and careful planning, early retirement goals are within reach.

Maybe try not to use ChatGPT for your book like you did for this post.

20F earning 200k per annum, doing social media. planning to pivot to the business owner soon as it is not sustainable to stay in my current line for the long term.

52 yo couple, 2 uni kids
Total taxable income around $500k last year

2 paid up private property valued $4mil total
1 luxury car paid up 5 year old
Combined cpf $1.5mil
Shares $1.3mil
FD TBill cash $0.5 mil

Looking to retire at 55. Life is good.

Looks like many millionaires in this forum
Solid

Originally Posted by Unregistered

Looks like many millionaires in this forum
Solid

You really believe that?
First day in public forum?
More so anonymous public forum.

I hope you guys realise that the 'older and about to retire' posts are all literally by one guy. Doesn't even bother to change the language style lol.