How much are you earning per annum?

Originally Posted by Unregistered

also i dont intent to get married. want to have freedom of love hahaha

Stop dreaming and get your fat azz to work boy!

Originally Posted by Unregistered

Not now. I just used my right hand. Tomorrow can?

Sure, my orifice is waiting...

Don't laugh at the old folk, especially one who has $5m+ in networth. If you listen, you might pick up some tips.

This old folk spend just about half an hour to 1 hr each weekend to :

1. Review his $1m+ stock holdings. He doesn't really sell any shares, but usually ended up adding more to his holdings. All are dividend paying stocks, and mostly blue chips. He is a recent investor of reits because they pay higher rates of dividends.

2. Tally up his monthly dividends. His busiest (happiest) months are in May and August each year. In each of these 2 months alone, his dividend income crosses the $10k mark. Dividends in other months are also not too bad, around $3k - $5k. After treating his family to a good meal each week, he will reinvest his dividends. Last year, however, he used up his passive income to buy a new jap car.

3. Collect rental. Nowadays, he doesn't need to physically go to his rental condo to collect rent. Everything is through ibanking. So in a second or two, he checks to confirm his tenant has paid the rent for the month.

4. Not sure how else to put his other million, he decided to play it safe with the remaining million and put in a solid place gauranteed by govt backing - the CPF. He treats this money as his last resort (backup) money in case world economy collapses. At least he will still get $25k per year in CPF interest from his million.

Rest of the time, he enjoys golf, tennis and tea with his kakis. He doesn't fancy "fancy" cars. The new jap car serves him well. Reliable and fuel efficient. To pamper the wife, he got her a conti car.

Children are grown up, one already working, while the other in Uni. He gave them a leg up with $50k of investment in blue chip stock on their 21st birthdays.

Yes, go ahead and laugh at the old folk if you want, but I am sure he is not bothered.

Originally Posted by Unregistered

No you cannot retire. According to some old folk here, even if your net worth is $5m, you cannot retire. Work hard until you are 80 years old. Then leave behind your millions to your children who can then retire early.

My wife and I are in our forties. We save $80k pa. We plan to retire in 10 years time at 55. We will save $800k over the next 10 years. We will then spend $60k pa from age 55 to 65. At 55, our children should be financially independent as they should be working so $60k pa is enough for the two of us.

When we reach 65, our CPF Life will give us $3600 pm and our children will give us $1400 pm ($700 each). In total we will get $5000 pm. This is our retirement strategy. At 65, we will not need a car as our fully paid condo is near an MRT station and amenities.

We plan to devote our retirement from corporate life in doing charity work to help the needy. We have been blessed with a good life so we want to give back to society. Doing charity work is good for the soul. It makes us appreciate the many blessings we receive in our life.

If you can write so much just to defend these rich buggers (which is I suspect is yourself) then you must be bothered.

Originally Posted by Unregistered

Don't laugh at the old folk, especially one who has $5m+ in networth. If you listen, you might pick up some tips.

This old folk spend just about half an hour to 1 hr each weekend to :

1. Review his $1m+ stock holdings. He doesn't really sell any shares, but usually ended up adding more to his holdings. All are dividend paying stocks, and mostly blue chips. He is a recent investor of reits because they pay higher rates of dividends.

2. Tally up his monthly dividends. His busiest (happiest) months are in May and August each year. In each of these 2 months alone, his dividend income crosses the $10k mark. Dividends in other months are also not too bad, around $3k - $5k. After treating his family to a good meal each week, he will reinvest his dividends. Last year, however, he used up his passive income to buy a new jap car.

3. Collect rental. Nowadays, he doesn't need to physically go to his rental condo to collect rent. Everything is through ibanking. So in a second or two, he checks to confirm his tenant has paid the rent for the month.

4. Not sure how else to put his other million, he decided to play it safe with the remaining million and put in a solid place gauranteed by govt backing - the CPF. He treats this money as his last resort (backup) money in case world economy collapses. At least he will still get $25k per year in CPF interest from his million.

Rest of the time, he enjoys golf, tennis and tea with his kakis. He doesn't fancy "fancy" cars. The new jap car serves him well. Reliable and fuel efficient. To pamper the wife, he got her a conti car.

Children are grown up, one already working, while the other in Uni. He gave them a leg up with $50k of investment in blue chip stock on their 21st birthdays.

Yes, go ahead and laugh at the old folk if you want, but I am sure he is not bothered.

Originally Posted by Unregistered

Sure, my orifice is waiting...

nostril or anus ?

This is the most touching post I've read in a long time. For you to dedicate your early retirement in the service of the less fortunate and needy is very noble. You have restored my hope in humanity.

Originally Posted by Unregistered

My wife and I are in our forties. We save $80k pa. We plan to retire in 10 years time at 55. We will save $800k over the next 10 years. We will then spend $60k pa from age 55 to 65. At 55, our children should be financially independent as they should be working so $60k pa is enough for the two of us.

When we reach 65, our CPF Life will give us $3600 pm and our children will give us $1400 pm ($700 each). In total we will get $5000 pm. This is our retirement strategy. At 65, we will not need a car as our fully paid condo is near an MRT station and amenities.

We plan to devote our retirement from corporate life in doing charity work to help the needy. We have been blessed with a good life so we want to give back to society. Doing charity work is good for the soul. It makes us appreciate the many blessings we receive in our life.

Please lah. He said he PLANNED to retire in 10 years time when he is 55. That is not early retirement. Also he said he PLANNED to devote his time and resources? to help the needy.

I am definitely not against people doing charitable work, but I "have eaten enough salt" to see the big difference between PLANNED versus ACTUAL outcomes.

Food for thought :

Do poor people need resources (eg. food, money, and other essentials) more than they need people to be around to help them? Charity works best if performed by professionals and dedicated people rather than inexperience and non-skilled do-gooders.

My point is, keep working and donate your pay to charities who employ professionals to carry out their jobs. If you quit, and "volunteer" in charity, you may not have the necessary skill sets and end up doing menial tasks. You will waste your years of training and earning power. And if you dont plan and save properly, you may end up as a charity case yourself!

So gullible.

Originally Posted by Unregistered

This is the most touching post I've read in a long time. For you to dedicate your early retirement in the service of the less fortunate and needy is very noble. You have restored my hope in humanity.

Originally Posted by Unregistered

Please lah. He said he PLANNED to retire in 10 years time when he is 55. That is not early retirement. Also he said he PLANNED to devote his time and resources? to help the needy.

I am definitely not against people doing charitable work, but I "have eaten enough salt" to see the big difference between PLANNED versus ACTUAL outcomes.

Food for thought :

Do poor people need resources (eg. food, money, and other essentials) more than they need people to be around to help them? Charity works best if performed by professionals and dedicated people rather than inexperience and non-skilled do-gooders.

My point is, keep working and donate your pay to charities who employ professionals to carry out their jobs. If you quit, and "volunteer" in charity, you may not have the necessary skill sets and end up doing menial tasks. You will waste your years of training and earning power. And if you dont plan and save properly, you may end up as a charity case yourself!

So gullible.

They want to do let them do la. Whats your problem? as long got the heart can liao mah, skills can slowly pick up also.

Web developer
2 years

27k pa
after CPF... 22k pa

$300 for food
$100 for transport
$100 for medical
$200 for parents
$12.80 for aviva. My other insurance deducts from medisave.
$4 for phone (pre-paid)
I set aside $100 to reward myself each month but I usually don't spend it.
I save 1k to 1.2k per month.

I'm willing to learn but I only have a Diploma so... does anyone have any tips for me? Should I change job?