How much are you earning per annum?

Originally Posted by Unregistered

Our flat is paid up and worth $400k, my own investments (using my personal savings) is now worth $1.6m (big gains made when I invested during the 2008 global financial crisis) and our cash and cpf savings is $400k. Total HH net worth combined $2.4m. Did a part time degree program.

Congratulations! You have achieved financial freedom! I can be like you if I sell my terrace house and downgrade to a HDB flat. Not easy to do that. Anyway, enjoy your retirement. You deserve it since you are a savvy investor. No longer need to report to a boss every morning. You're now the boss!

Originally Posted by Unregistered

Congratulations! You have achieved financial freedom! I can be like you if I sell my terrace house and downgrade to a HDB flat. Not easy to do that. Anyway, enjoy your retirement. You deserve it since you are a savvy investor. No longer need to report to a boss every morning. You're now the boss!

Thanks. Yes, I'm looking forward to my early retirement and focus on my hobby of stocks trading. I'm glad that I didn't upgrade to a condo or landed property or else I will still be slaving away every day in the office. Indeed I'm the boss. LOL. You can be like me if you do away with your ego and don't care about what people around you say. You are living your own life. Just do it.

Originally Posted by Unregistered

Thanks. Yes, I'm looking forward to my early retirement and focus on my hobby of stocks trading. I'm glad that I didn't upgrade to a condo or landed property or else I will still be slaving away every day in the office. Indeed I'm the boss. LOL. You can be like me if you do away with your ego and don't care about what people around you say. You are living your own life. Just do it.

26 year old male
94k per annum
NUS grad (engineering)

Here are some steps you can do to prepare for retirement

1. Get the most from CPF Life
2. Invest in high dividend yield blue chips. You need to get professional advice for this as many people think they are so smart and end up losing money.
3. Downgrade your lifestyle from private property to HDB flat.
4. Retire in other countries.
5. Rent out your empty rooms to FTs.
6. Educate your kids well so that they become filial and give you monthly allowance.
7. Save as much as you can.
8. Reduce your expenses.

If you are resourceful, it is not difficult to retire early.

I have already gotten a 5R BTO due in a few years time. To achieve financial freedom, should my next step be to buy a private condo, after which rent out either the flat or condo? Will this be safer and more sure-win compared to investment in stocks/blue chips?

I'm in my early 30s.

We are a married couple in our mid forties and blessed with two wonderful children. We are not among the high income group but we are contented with all the blessings we receive. Our household income is only $174k pa. We live in a humble home, a 3 bedroom condo, worth $1.2m, which we still have a small mortgage left. We are also blessed with a new car, which we manage to pay in full using our savings which we built up over many years.

We enjoy our family life very much as we spend lots of time together with our children. Even though our income is not high, we gain by having more time to spend with our children. We hope to continue living a well balanced life until we retire at 55. We hope to grow our household net worth from $2.2m today to $3m by the time we retire at 55 when we collect our CPF monies. By then our children would be working and contributing to our family's finances.

Originally Posted by Unregistered

We are a married couple in our mid forties and blessed with two wonderful children. We are not among the high income group but we are contented with all the blessings we receive. Our household income is only $174k pa. We live in a humble home, a 3 bedroom condo, worth $1.2m, which we still have a small mortgage left. We are also blessed with a new car, which we manage to pay in full using our savings which we built up over many years.

We enjoy our family life very much as we spend lots of time together with our children. Even though our income is not high, we gain by having more time to spend with our children. We hope to continue living a well balanced life until we retire at 55. We hope to grow our household net worth from $2.2m today to $3m by the time we retire at 55 when we collect our CPF monies. By then our children would be working and contributing to our family's finances.

you have a balanced work life. for me & my wife, we are also in mid forties. Last year income was $450k, we stay in paid 3 bedder condo, got a new car almost paid up, But one thing is that we have little family time as stress is very high.

i guess life is a choice. either you live with a high income but little time, OR moderate income with balanced family time. it's your choice.

Originally Posted by Unregistered

you have a balanced work life. for me & my wife, we are also in mid forties. Last year income was $450k, we stay in paid 3 bedder condo, got a new car almost paid up, But one thing is that we have little family time as stress is very high.

i guess life is a choice. either you live with a high income but little time, OR moderate income with balanced family time. it's your choice.

Absolutely. We chose spending more time with our children over money. We want to be remembered at our death bed as loving, caring parents rather than lousy, selfish, greedy parents. It's your choice.

Smells like some sour grapes here...

Yes, sour grapes. Good if you really have the choice to choose as not many household can earn 450k p.a.. However, there are a lot more households who are earning 160k p.a.....