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. |
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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. Quote:
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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.... |
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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. Quote:
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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. |
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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? |
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Like the OP. Lol. |
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