How much are you earning per annum?

Originally Posted by Unregistered

There are two school of thoughts
One say that when reach $2m, then can slow down pace of living.
The other say cannot end prematurely and need further drive to $5m
I am in the cross road with $2m now
What should I do?

There's no right or wrong answer. It depends on what you want, and how much you need. If you already spend way below your passive income, with buffer for emergencies and contingencies, you can probably slow down. But you will need to be prepared for your peers to overtake you, or you may regret slowing down at a time when you still have the energy to accumulate wealth.

You don't need to slog so hard to accumulate $5m to retire. Unless you want to retire living in a bungalow. If you have $2m, if you retire in Malaysia, this means you will have RM5.6m! You're a multi millionaire!

My retirement plan is simple: I will rent out my HDB flat for $3k pm and my passive income will give me another $2k pm. In total I will have $5k pm. I will convert this to get RM14k pm and retire in Penang or KL. When we reach 65, we will get another $3.5k pm. So we will have lots of passive income at 65, $8.5k pm or RM23k pm.

Originally Posted by Unregistered

There are two school of thoughts
One say that when reach $2m, then can slow down pace of living.
The other say cannot end prematurely and need further drive to $5m
I am in the cross road with $2m now
What should I do?

Originally Posted by Unregistered

There are two school of thoughts
One say that when reach $2m, then can slow down pace of living.
The other say cannot end prematurely and need further drive to $5m
I am in the cross road with $2m now
What should I do?

It depends. If your job is relaxing and you can go home at 5pm everyday and don't need to worry about work during your weekends, then can continue working there. But if you are very stressed at work and feel like going into a depression, then it is best to quit before you need to be warded at IMH. Mental health is a very serious matter, don't take it lightly. Don't listen to people in this forum who don't understand what you're going through. You need to listen to your heart what's best for you and family. Take care.

This is the most sensible post in this thread after so many years.

Originally Posted by Unregistered

It depends. If your job is relaxing and you can go home at 5pm everyday and don't need to worry about work during your weekends, then can continue working there. But if you are very stressed at work and feel like going into a depression, then it is best to quit before you need to be warded at IMH. Mental health is a very serious matter, don't take it lightly. Don't listen to people in this forum who don't understand what you're going through. You need to listen to your heart what's best for you and family. Take care.

Originally Posted by Unregistered

Oh please, enough of this off-topic chatter.

Many posters in their mid to late 40s are claiming to have networth of $2m+. I am not sure if the number of such households has gone up, but that's about our networth when we were in our 40s - 10 years ago. Does it mean that over the last 10 years household income and networth have not grown that much? Or maybe there is a better spread of wealth resulting in more households achieving this networth while in their 40s?

The good news for these households is that by their 50s, 10 years down the road, their networth could breach $5m - provided they don't quit their job prematurely. Among my cohort, many of my friends and colleagues have close to or around this networth. Working is an option, not a need anymore.

Reaching the first $2m is the difficult part, but once you achieve that, the growth starts to get easier. But remember, don't quit prematurely.

You sound old, bitter, lonely and deluded.

Originally Posted by Unregistered

Thanks for your advice. Yes, the plan is to buy an apartment near an mrt so that a car is not needed because honestly owning a car is really not worth it...



Gosh I can smell your desperation from a forum away. Never heard of the phrase nice guys finish last? Even if I were to marry, I'll look for an intellectual equal. If I want a doormat, I'll just go Ikea.



You sound like my mum and the gazillion family and friends who use the same argument every time. My counter is that loneliness is a state of mind and I am perfectly capable of keeping my own company and finding meaning in my own life without being married. Kids are a joy up till the point when I lose patience with them and want to slap them. Point is, different folks for different strokes yo. Let's agree to disagree on this.



Nope, it wasn't me. But I'm heartened that there are decent people here who bothers to keep you bored and/or desperate guys in check ;>



But come on guys, seriously only one piece of advice after all that banter?

i am 28 and make 150-200k pa. no savings as i reinvested in myself which explains the salary. A+ schools, A+ career. shall we?

Middle class, middle income couple, total income $163k pa. Savings $40k pa.
Two kids in secondary schools. Condo, valued $1.1m, paid up. Car, paid up.
Total net worth (including condo, CPF, stocks and cash), $1.8m.

How are we doing? When can we retire? We don't mind a simpler life during retirement.
Any financial gurus here who can help to advise?
Thank you in advance.

Originally Posted by Unregistered

i am 28 and make 150-200k pa. no savings as i reinvested in myself which explains the salary. A+ schools, A+ career. shall we?

It depends. Are you okay with girls who are slightly plus sized?

Originally Posted by Unregistered

It depends. Are you okay with girls who are slightly plus sized?

no. and don't belittle men again.

Originally Posted by Unregistered

There are two school of thoughts
One say that when reach $2m, then can slow down pace of living.
The other say cannot end prematurely and need further drive to $5m
I am in the cross road with $2m now
What should I do?

My belief is you will know when it is time to stop. If your jobs have good working hours and minimal stress, keep going.

My wife and I have a net worth of $3M but plan to continue with our jobs as we are still below 40 and its good to keep our minds active. Our monthly income of $30K also enables us to do more.