How much are you earning per annum?

Some people here are talking to themselves, might need to check with IMH.

Originally Posted by Unregistered

Don't know whether it's the same guy who booked catB COE at $70k. Just wondering how come this guy replied saying he bought an Altis with it? Altis COE belongs to Cat A right?

Same fellow lah... Common characteristics

Leng Kee show room.
Toyota Altis.
Congratulatory post by another on getting the car.
Flip BTO bought at 200k and sell at 450k and etc.....
Long essay on why cars are affordable and good in singapore.

Actually got suggestion for this special guy. Ask him to give an advanced set of instructions to his family.
When he dies, burn his car. And after his body is cremated, mix the ashes with the car's Ashes and buy a special made niche in Mandai and put up his photo together with his car photo.

I'm 200% sure this Altis guy is the same idiot property agent, moron car dealer and seow Lang "Huat Ah" person.

From this post onwards, I will label them as the "Gang of 4 great idiots" or GOGI for short. The GOGI have very thick hide with absolutely no considerations for others, likes to irritate people and have ancestors that belong to the primate world. Medically, they are known to be schizo and have multi personalities. So far, only 4 known persons are detected in this GOGI - this Altis guy, the idiot property agent, moron car dealer and seow Lang "Huat Ah" person.

Research has shown that it is possible for the GOGI to take on at least 12 different personalities. So we may see more of this GOGI disguising as buyers, sellers and supporters of certain products like COEs, property units in Jurong lake district..... Whenever there is such post, readers are advised to treat such post as nonsensical, trash and to offer prayers and burnt offerings and hope an exocist will come to his help or to expedite his demise and return to Hell.

May his soul burn in hell.

Originally Posted by Unregistered

Don't know whether it's the same guy who booked catB COE at $70k. Just wondering how come this guy replied saying he bought an Altis with it? Altis COE belongs to Cat A right?

Probably not same guy la, so many imposters here.

Is is disappointing to see that this forum has been infested with a foul mouth, uncouthed cockroach

The decision to go into retirement must be considered carefully. Do not just look at the financial aspects but also look at how you will occupy yourself in retirement. Financially, the earlier you retire, eg before 55, the more savings you will need to have. At least you should aim to ensure the funds can outlast you, not the other way around. The average lifespan of Singaporeans is now at 82.5 years. So retiring at 55 or before, means your funds need to last 27 to 30 years at least.

We are in our mid 50s, and the factors we consider in deciding whether to retire are:
1. Push factors in our current jobs. For eg, is our job stressful?, is it detrimental to our health?, are we treated with respect & dignity?, do we have good work-life balance? Are we paid fair wages? And so forth.

Our answers to the above are generally positive. There will be times we felt stressed and workload seems heavy, but these tended to be cyclical. There is no compelling reason for us to call it quits yet.

2. What to do in retirement. This is equally important for us. We need to be sure our life in retirement is still fulfilling and meaningful. Certainly not to cut back on the things we love to do, such as traveling, golfing, and so on. The worse thing is to end up with days and days of boredom and the lack of funds to pursue activities you enjoy.

Here, our answer is we are not sure what we will do in retirement. What can we do that will be meaningful that each day we will look forward to waking up to. So because of this, we are not ready to retire.

3. Do we have financial security to retire? This is the only question we can answer positively. Yes, we think our current net worth is sufficient to last our retirement - just based on simple draw down model. But since we are actively putting our savings to "work" through investment, we are generating the passive income to grow our savings even more. We are almost reaching the stage where the passive income is able to cover our current expenses!

Based on the above 2 out of 3 considerations, we will not retire so soon. Furthermore, as most of our savings are invested, we don't hold much cash on hand. Because we don't hold much cash on hand, we don't feel we are rich and thus don't spend frivolously.

Retirement doesn't have to mean that we stop living, it is has to be another phase of meaningful and fulfilling living.

Originally Posted by Unregistered

Congratulations. You have done well. How old are you and when do you plan to retire? How much passive income do you think a retired couple needs to retire, assuming a simple retirement (i.e. eat hawker or home cooked food, live in a paid up HDB flat, no car, no maid, short holidays to Malaysia and Thailand, lead a healthy lifestyle). Thanks.

Originally Posted by Unregistered

The decision to go into retirement must be considered carefully. Do not just look at the financial aspects but also look at how you will occupy yourself in retirement. Financially, the earlier you retire, eg before 55, the more savings you will need to have. At least you should aim to ensure the funds can outlast you, not the other way around. The average lifespan of Singaporeans is now at 82.5 years. So retiring at 55 or before, means your funds need to last 27 to 30 years at least.

We are in our mid 50s, and the factors we consider in deciding whether to retire are:
1. Push factors in our current jobs. For eg, is our job stressful?, is it detrimental to our health?, are we treated with respect & dignity?, do we have good work-life balance? Are we paid fair wages? And so forth.

Our answers to the above are generally positive. There will be times we felt stressed and workload seems heavy, but these tended to be cyclical. There is no compelling reason for us to call it quits yet.

2. What to do in retirement. This is equally important for us. We need to be sure our life in retirement is still fulfilling and meaningful. Certainly not to cut back on the things we love to do, such as traveling, golfing, and so on. The worse thing is to end up with days and days of boredom and the lack of funds to pursue activities you enjoy.

Here, our answer is we are not sure what we will do in retirement. What can we do that will be meaningful that each day we will look forward to waking up to. So because of this, we are not ready to retire.

3. Do we have financial security to retire? This is the only question we can answer positively. Yes, we think our current net worth is sufficient to last our retirement - just based on simple draw down model. But since we are actively putting our savings to "work" through investment, we are generating the passive income to grow our savings even more. We are almost reaching the stage where the passive income is able to cover our current expenses!

Based on the above 2 out of 3 considerations, we will not retire so soon. Furthermore, as most of our savings are invested, we don't hold much cash on hand. Because we don't hold much cash on hand, we don't feel we are rich and thus don't spend frivolously.

Retirement doesn't have to mean that we stop living, it is has to be another phase of meaningful and fulfilling living.

Congrats. You have done well. Huat ah!

Thank you for your detailed discussion. We are fortunate that we have paid up our HDB flat and is debt free. Looking at the considerations you outlined, we conclude that we can retire any time. We will likely make the move in a couple of years time. Life is good. Thanks!

Originally Posted by Unregistered

The decision to go into retirement must be considered carefully. Do not just look at the financial aspects but also look at how you will occupy yourself in retirement. Financially, the earlier you retire, eg before 55, the more savings you will need to have. At least you should aim to ensure the funds can outlast you, not the other way around. The average lifespan of Singaporeans is now at 82.5 years. So retiring at 55 or before, means your funds need to last 27 to 30 years at least.

We are in our mid 50s, and the factors we consider in deciding whether to retire are:
1. Push factors in our current jobs. For eg, is our job stressful?, is it detrimental to our health?, are we treated with respect & dignity?, do we have good work-life balance? Are we paid fair wages? And so forth.

Our answers to the above are generally positive. There will be times we felt stressed and workload seems heavy, but these tended to be cyclical. There is no compelling reason for us to call it quits yet.

2. What to do in retirement. This is equally important for us. We need to be sure our life in retirement is still fulfilling and meaningful. Certainly not to cut back on the things we love to do, such as traveling, golfing, and so on. The worse thing is to end up with days and days of boredom and the lack of funds to pursue activities you enjoy.

Here, our answer is we are not sure what we will do in retirement. What can we do that will be meaningful that each day we will look forward to waking up to. So because of this, we are not ready to retire.

3. Do we have financial security to retire? This is the only question we can answer positively. Yes, we think our current net worth is sufficient to last our retirement - just based on simple draw down model. But since we are actively putting our savings to "work" through investment, we are generating the passive income to grow our savings even more. We are almost reaching the stage where the passive income is able to cover our current expenses!

Based on the above 2 out of 3 considerations, we will not retire so soon. Furthermore, as most of our savings are invested, we don't hold much cash on hand. Because we don't hold much cash on hand, we don't feel we are rich and thus don't spend frivolously.

Retirement doesn't have to mean that we stop living, it is has to be another phase of meaningful and fulfilling living.

To those who are planning to retire, here are ways to earn passive income:

1. Stock dividends. Go for solid blue chips.
2. Rent out your empty rooms in your HDB flat.
3. CPF Life. $1750 pm for the enhanced scheme.
4. Children's allowance.
5. Dividends from business venture (passive business partner).

Please avoid "get rich quick" scams.

Originally Posted by Unregistered

To those who are planning to retire, here are ways to earn passive income:

1. Stock dividends. Go for solid blue chips.
2. Rent out your empty rooms in your HDB flat.
3. CPF Life. $1750 pm for the enhanced scheme.
4. Children's allowance.
5. Dividends from business venture (passive business partner).

Please avoid "get rich quick" scams.

What if I want to buy a Car during retirement? Can we afford a basic Altis?