Graduate couple, 39, 40, lives in a HDB flat worth $450k, paid up. Annual earnings, $110k pa combined. One child. No car. No maid. Net worth, $850k.

Our retirement plan at 65:

1. Rent out our flat to FT to get rental income of $3k pm.
2. Get CPF retirement account payout of $3k pm combined.
3. Convert to RM, get RM15k pm.
4. Retire with RM10k pm in Iskandar, save RM5k pm.

Gurus, can advise which area in Iskandar has the least crime? Thanks.

I am not retired. We did plan to retire at 55, but the day came and gone. You know, we all talked about retiring at 55 like its some sort of grand milestone. But because of our work and busy schedule, each day just morphed into the next, and before we realised it, we were already past it.

I shared my passive income journey because I thought it would be helpful. I wasnt born into a rich family. My initial steps were small steps. I mean people will laugh at the $4k interest we earned as our very first "passive income". But we kept at it, adding to the investment and see it grow, much like our two children.

I also shared the journey with my siblings and now nieces and nephews who joined the workforce recently. Hopefully one day before they are too old, they can also sit back and say "hey, I now have enough passive income to consider doing something else with my life". Seeing that the younger generation now command higher starting salaries, and many of them having had a headstart in life with parental support (not in my case where my parents were poor), I am quite sure they will reach financial freedom much earlier - if they save, invest early.

I feel sad for those who thought my post all but BS, because their response tell me two things - one, they are not aware of the range of incomes out there, second they are not aware of what they could do to improve their financial situation.

Please don't be sad. I believe your story because I have done it myself. I had the good fortune of a brilliant mind (this is true, not trying to boast) such that I went to top schools even though I came from a low income family. The system allowed me to excel academically, which enabled me to get good jobs. I worked hard, got promotions, got good bonuses and invested a portion of my earnings.

Eventually my investments grew to a sizable amount which allows me to live on my passive income. My passive income now exceeds my household income. Now I am retired from full time employment, at 45. I now spend my time growing my investment portfolio, actively managing it. I read a lot about the global economic and investment environment, new trends and identify new opportunities. I am having fun with my retirement. When I'm tired, I go for a swim or exercise in the gym. I also do some chairty work to help the poor and needy. I am very happy now.

For those who dont believe the below , i felt pity on you. That why yr thinking makes you stay where you are...

i know ppl who combine salary earns $500k as well. Both husband and wife in top MNC doing sales.

Look at the young these days. Spendig way too much money than they can earn. 21st birthday party, graduation trips, annually got so many short trips to BKK, HK, TPE etc. 3 times a week eat at restaurant or cafe.

I believe you. I asked whether you are retired because I should be reaching my passive income target in a few years time, and I'm not sure whether I should stay on in my job or quit. Current job doesnt excite me, but the pay is decent, which is what makes it difficult to let go (among other things like colleagues, etc).

I find the profile of posters in this thread very interesting. While most are grads, their income differs a lot. We have a broad range. Even among those in their 40s, we have those who earn just $60k pa to those who claim to earn $700k pa.

There are also the more successful ones who have retired and earn passive income that meet their needs. There are those who said they are successful but afraid to retire. This is what makes this forum very unique. Everyone has their own story.

Nevertheless, at the end of the day, all these people aim to have a comfortable retirement. Those who earn less plans to retire in studio hdb flats or overseas while those who earn more and has more wealth plan to retire in their condos.

Whatever your plan, don't forget you will all die. This world is just a temporary place that we visit, the Hereafter is permanent. Have you prepared for it? Jannah or Jahannam?

You should only quit as a very last resort and not because your passive income meets your current needs. Most people do not project or factor in their future needs and inflation effects into their financial models and risk miscalculating their future financial needs.

If your passive income currently just about cover your expenses, and you are still young (like below 55), then the chances that your expense will exceed your passive income in the future is very, very high.

The most ideal model of passive income is where the income keeps pace with inflation and your capital also appreciates. Shares and properties have this quality. Most annuities dont. That's why I dont advocate putting too much money into annuities. All of us already have the CPF life annuity so dont need to buy any more.

Shares of a progressive company will grow in value as the company business grow, and the dividends grow with it. Property value and rental rises with the country's economy. In land scarce Singapore, there is only so much land.

Whenever you dont feel llike working, you should go and read up on the real life stories of unemployed fellow Singaporean in Transitioning dot org website. You will then realise how fortunate you are to have a job.

nothing wrong with being born poor, dying poor means not putting in enough effort (except some genuine holy cases who give up everything for noble causes or those really really suay one).

40, just joined the ranks of Singaporean millionaires, net worth (excluding HDB flat but includes CPF, cash and stocks) is $1.02m. Wife, 42, net worth is $300k.

Including our HDB flat, our total net worth is $1.72m. We need to save more. Maybe we should get rid of our car to save more.