Many of you are blessed to have healthy children.

We have a special needs child who may need to live in an institution after we pass on....
We intend to work till 65/67..... just to make sure that my child will not run out of money....

If not for this, we could retire right now as our net worth is nearly 2 million....

Treasure your health and your loved ones...

My friend retired at the age of 45. He was earning a decent salary but made his money from investments. He managed to pay off his condo loan and earn a passive income which replaces his income from his salary. He now spends his time trading stocks from home and doing charity work. He said his life is more meaningful now as he is able to help at the lowest ranks of society. He did want to be greedy to accumulate more and more but rather want to spend the rest of his life helping the poor. I salute him. We need more people like him to make this world a better place.

We are 46 and making $30k pm.
But it's a waste to give up
We rather continue earning and donate later when we reach 60

sure you would .... LOL

Sure. Donate $1 also considered donate right? LOL

You don't have to wait too long to retire. You can actually retire at 55. Just sell your condo and buy a nice 4 room HDB flat. The cash balance can be invested in good blue chip stocks to give you dividends. If you have $1.5m cash, you will get dividends of $75k pa if your dividend yield is 5% pa.

I pity you. I've been there and done that.

Me too. All my brothers, sisters, cousins, and myself have been there, done that..... very successful.

What's the point of owning a condo but have no time to enjoy it. What's the point of owning a car but not using it. That's pure foolishness. You are better off staying in a 3 room flat and not owning a car so that you can save enough to retire earlier.

A young businessman was at the pier of a small coastal village when a small boat with just one fisherman docked. Seeing several large yellowfin tuna inside the small boat, the businessman complimented the fisherman on the quality of the fish and asked how long it took to catch them. "Only a little while", the fisherman replied.

A little surprised, the young business man asked, "Why didn't you stay out longer and catch more fish?" The content fisherman said, "This is enough to support my family's immediate needs. I don't need any more." "But what do you do with the rest of your time?" asked the confused young man. "I sleep late, fish a little, play with my children, take a walk with my wife, stroll into the village each evening where I sip wine and play guitar with my buddies; I have a full and busy life."

The lad scoffed, "I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to LA and eventually NYC where you will run your expanding enterprise."

The fisherman asked, "How long will this all take?" to which the young man replied, "15-20 years." "But what then?" The business man laughed and said "That's the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions."

"Millions, sir? Then what?"

"Then you would retire, move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take a walk with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your buddies."

Interesting story... but at the end, his children would have all grown up, the wife might have left him and his friends may have all departed from this world.... so is it worth it?

Good to be contended with what we have rather than chase for the riches and lose everything that is important to us.

It takes wisdom to appreciate that life does not consist in the abundance of one's possessions.

But, of course, even the foolish come to realise this (albeit a little too late) when they are on their deathbeds.

That is why we are determined to retire from salaried work by 50. We are 45 & 42 yo, earning a good income. We manage to save S$50k pa. Our condominium unit is fully paid up and currently valued at S$1.2m. We have investments which yield us a passive income of S$80k pa. Without a car and a maid, this is more than enough for us. We have set aside funds for our kids' education. Our net worth is currently close to S$2m.

We want to do lots of charity work when we retire, we are determined to give back to society as we were from low income families ourselves. Life is meaningless if we only think of ourselves and just our families. There many suffering people out there in the world who desperately need our help not just donations but our personal outreach to them. We were helped by others in the past and now it is our turn to make a small difference to the lives of others.

A life well lived is not living in luxury, boasting your wealth, playing golf all day, etc but it is a life full of good deeds, feeding the poor, orphans and the aged. Leave behind a legacy which is truly meaningful.

As with all cautionary tales, there are limits to its applicability....

The Harvard man may not have the same needs as the fisherman. For myself, what is my best fantasy?

Permanent retirement at a club med like facility with 2/3 maids, 1 driver and etc. so to get this kind of retirement scenario, how is it possible to stop working so early?

Every man wears a different underwear... What fits one, may not fit another....

This story is often quoted but also misunderstood. By remaining as he is, there is no choice or safety net. If his circumstances don't change for 60 years, he will survive as he is. But if something happens like shortage of fish, or wife falls sick, then everything will be different. By having money you have something to fall back on in times of crisis.

Totally agreed. I believe this story is dreamt up by people who are lazy, and could not make it.

When you have wealth, you have choices and options. The businessman can choose to fish, but the fisherman can only fish.

By any account, the businessman would lead a fuller and more exciting life but the fisherman's life is narrow and boring.

Bottomline is, don't fall for this. Work hard, save and invest. When you build up your wealth, you can choose to fish - anywhere, anytime.

My family and I plan to move from our landed home this year to a condo to take advantage of our landed property price. Our landed property price rose too much and we decided to take profit and so we can make a 100 tons of money. After that we will move to a new condo and pay for it in cash. We are going to enjoy staying in a condo because of the beautiful landscaping and the amenities.

We realized that living in our landed home had a few advantages: (1) we can park many cars in our compound (2) people walk pass looking into our home to admire (3) can do DIY little for fun and hobby (4) high standard of living (5) keep 5 dogs (6) private security with Gurka (7) Driver by the side. The only not so good thing about staying in too big landed property is must communicate with family members using hand phone.

When my wife and I finally retire, we plan to retire in a condo not because we love condo living. We rather stay in a small studio condo unit rather than moving to a even bigger bungalow in the park. I will be able to see my wife every moment as and when I like, minus the telephone communication as what we are doing now. We then buy a studio condo unit for $800k, we will have $100m cash to buy dividend stocks which can give us dividends.

Humble and simple guy, 46. Spouse, 44.
Total HH income, $194k pa.
Savings, $50k pa.
Home: 3 bedroom condo, worth $1m. Outstanding loan $200k.

Retirement plan at 65:

1. Retire in our condo.
2. Earn CPF Life payout $3500 pm.
3. Other passive income $2000 pm.
4. Two children's parent allowance ($500 pm each) $1000 pm.
5. Total passive income $6500 pm.
6. Total expenditure $3500 pm.
7. Savings (reinvested) $3000 pm.

Expenses during retirement:

1. Food and utilities $1200 pm.
2. Car (fully paid) expenses such as petrol, road tax, insurance, etc $600 pm
3. Medical insurance $800 pm.
4. Holidays $400 pm (pro rated).
5. Misc $500 pm.
6. Total $3500 pm.

Living on landed property is too bland for such a rich guy like you lah.....
You should buy a block of condo. And then every day you can play hide and sick with your Gurkha guards, eat in unit #05-07, shi.t in unit 11-08, brush your teeth in unit 03-03, urinate in unit 07-02 & read newspaper in unit 08-04.

What do you think?

I think you are full of BS.

Like the OP.

Lol.

No choice lah fren, have to fight Shi.t with s.hit

This is a well thought out plan.
Your condo is almost paid up, this is excellent.
Your annual savings is quite a lot and you will be able to save $1m over 20 years.
You will have a good retirement.
Well done!

Sounds like what the Bangla workers do before the property is handed over to the proud new owners bahahaha

Middle class family

47, quit my job two years ago to start a small business, earning $68k pa. Savings $15k pa. More flexible work schedule. Stress level down a lot. Net worth $1.7m. Built up my wealth through many successful investments. Invested my big bonuses during my previous career.
My investment portfolio growing nicely. Hope to grow my small business over time.

Spouse, 43, earning $100k pa. Savings $50k pa. Net worth $0.7m. Hope to grow net worth by an additional $1m over 20 years.

Condo, 3 years old, paid up.

Car, 1 year old, paid up.

I am feeling very stressed at work.
Cannot sleep.
Keep thinking work 7 days.
Money is good $12k pm but no time for kids

Should I call it quits and find another job
I am 45 this yr
No debt as condo and new car just paid up
Two teenage kids
Wife would still work. Maybe $10k pm. Her job more stable. Good bonus.

Any serious advise?

I am feeling very stressed at work too.
I am 32 year old.
Work 5 days but on weekends also I keep thinking about work only. Cannot sleep.
Earn $4.5k per month

Since you are debt free, you should not be so worried about finances. You may want to consider becoming a Stay-at-home-dad to take care for your kids and household. You can do the housework and cook for the family.

You can also send your children and wife to school and work and fetch them home. They don't need to be in crowded buses and MRT. Their quality of life will improve. You can also save by not employing a maid nor send your kids to expensive tuition. You can teach your kids yourself and prepare them to top schools.

There is a good article on Stay-at-home-dads in the Sunday Times yesterday.

If you still want to work, you can go for less stressful jobs even though the pay is lower. Since you have no more big commitments like condo and car, you can afford to have a lower pay but a better quality of life which allows you to spend more time with your kids and take care of your health. You can enjoy life better as you don't know when you will die.

What's your net worth? What's your wife's net worth?

28 yo, female, single
$75k pa, ~$200k savings
Stable job, decent working conditions (not too stressed nor slack)
1 car loan but less than $8k more left to pay, no other loans
Living with retired parents who are pretty self-sufficient financially but not rich
No plans to get married or have kids
Not a spender (1 holiday a year, occasional small buys, 1 debit card, no CC)
Thinking of getting a 2-br condo near mrt coz I want my own freedom to live my life. Not sure if I can afford a $750k-$1 mil condo when I reach 30. Possible to put down $200k deposit and finish paying loan in 15 yrs?
Any advice? TIA.

I am willing to sacrifice my singlehood for a good cause. Let us get married and then we can buy the condo together. Are you game for it?

You sound like a decent lady who is responsible and not spendthrift, a wife material I must say. Why aren't you interested to get married? Life is more meaningful if you have a good husband who loves you

Nonsense. Women dun need men to lead meaningful lives.

I am the female version of the alpha male aka "too smart-ass and opinionated for my own good" - I scare men away with my sheer force of will and tear their egos to shreds...and nope, not willing to change my character just to be married...

And why would I play your game when I can be the gamemaster and set my own rules - to my advantage to boot? ;>

Not MY game. It will be YOUR game. I can accommodate and sacrifice this much for you.

Wow! You sound aggressive. I like ;-)

Man and woman need each other. Don't you wish to have a spouse sleeping next to you every night? Imagine being single and lonely till old age. You risk having a depression due to loneliness. Having a spouse to share your life, especially in old age, is a blissful experience. you can share your worries and problems with your spouse. You can also share your finances together like buying a condo, car and going holidays. The best part is having kids, a joy you will never feel if you don't have kids of your own.

You're the kind of female I'm looking for. I don't get scared by females like you, I get attracted to them. Can we be friends?

Ahem! Behave yourselves boys and gals. Keep your hormones in check. Can someone pls provide guidance to her question?

You are earning well for your age and your savings is good too. You may want to buy a one bedroom condo in future prime locations such as the Jurong Lake District. Find condos next to MRT stations such as Jurong East or Lakeside MRT stations. You don't need a car if you live in condos located next to an MRT station.

You made the right move to quit your stressful job to become a small business owner. That was timely as you are already a millionaire without big financial commitments. There is no point suffering when you're already so rich. Now is the time for you to smell the roses. Life is not just about accumulating more and more wealth at the expense of your precious time in this world. Time is a precious resource. You should not be neglecting time with your children, parents and family. You also need time for your personal relaxation and exercise. Is that extra dollar you earn worth the time you neglect with your loved ones?

Anyway, with your current wealth, you can actually consider early retirement, perhaps retire when you reach 55.

If you have enough reserves, you can lead the life you want. Quit the stressful or unappealing job, say bye to office politics and bosses. Spend yr previous time with people who matter.

If you have bills to pay, family to feed, desire the annual holidays and to give the best to yr children, we still have to succumb to the rat race.

How to break the cycle and lead meaningful lives, without compromising the family needs?