How much are you earning per annum?

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.

Originally Posted by Unregistered

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

Originally Posted by Unregistered

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

Originally Posted by Unregistered

sure you would .... LOL

Sure. Donate $1 also considered donate right? LOL

Originally Posted by Unregistered

My wife and I have been working for a long time and we are exhausted. We are now in our early fifties and earn a total household income of $206k pa. We save $60k pa. Our 4 bedroom condo is now worth $1.8m and we have an outstanding mortgage of $400k. We will clear the mortgage by the time we retire at 60. Our current net worth is $1.8m. Are we ready for retirement?

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.

Originally Posted by Unregistered

Life can be tough sometimes. But we choose the path we walk and have to live with the consequences of bad decisions or enjoy the fruits of good ones.

The more important thing at the end of one's life is not how much you have achieved or gained, but what kind of a person you have become when you have achieved your goals.
For example, do you back stabbed your competitors to climb the corporate ladder? Do you act dishonestly just to make a few more dollars? Do you turn into a hermit or miser just to save a few dollars more each month? You may have the millions at the end of the day, but you may not recognize the person you have become.

Ah, I digressed. It has been a tiring day for me, shuttling from one country to another for business meetings. As I sipped my morning coffee in the airport business lounge waiting for my connecting flight, I wonder how long more I can take of this life. The money is good, but I do not have the time to spend it. I have a nice condo but spent very little time enjoying it. I have a nice conti car but it spends more time in the car park as a showpiece rather than as a utility for me.

Originally Posted by Unregistered

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.

Originally Posted by Unregistered

Life can be tough sometimes. But we choose the path we walk and have to live with the consequences of bad decisions or enjoy the fruits of good ones.

The more important thing at the end of one's life is not how much you have achieved or gained, but what kind of a person you have become when you have achieved your goals.
For example, do you back stabbed your competitors to climb the corporate ladder? Do you act dishonestly just to make a few more dollars? Do you turn into a hermit or miser just to save a few dollars more each month? You may have the millions at the end of the day, but you may not recognize the person you have become.

Ah, I digressed. It has been a tiring day for me, shuttling from one country to another for business meetings. As I sipped my morning coffee in the airport business lounge waiting for my connecting flight, I wonder how long more I can take of this life. The money is good, but I do not have the time to spend it. I have a nice condo but spent very little time enjoying it. I have a nice conti car but it spends more time in the car park as a showpiece rather than as a utility for me.

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."