How much are you earning per annum?

38 and 37 year old couple in banking

Combined income $400K (assuming $50K bonus).

Cash and stocks: $800K
Endowment and cpf: $200K
Properties and other assets less loan: $2.2M

Plan to cruise at work another 10 yrs then retire

If you have no dependants why are you wasting time worrying about children fighting over whatever fortune you have?

The logical process is to build up your retirement fund. If still got energy and still enjoy your work, continue to work, build up some buffer in the fund. Retirement can be 10 to 35 years long depending whether you are living a healthy life or one consumed by jealousy or what not.

Then if got excess money, can always have a more luxurious retirement lifestyle if you dont want to leave too much for your children. You have the option! Without money, even if you want leave something for your dependants, you cant.

Originally Posted by Unregistered

Thanks for the advice. We have decide to retire sooner rather than later. As a multi millionaire couple living in a nice condo and having a growing passive income, we can afford to retire from paid work to pursue our interests. We don't want to be old multi millionaires who work until the day he die and leaving his fortune to fighting children.

We know of people who retired at 65 and died immediately after. His wife and children happily squandered his fortune. There are people who even gamble away inheritance at casinos because they don't value the fortune as they didn't work for them.

Wow! You're a multi millionaire couple! Like that can surely retire now. Congrats on your achievement. You have worked hard and it is time to enjoy your success. Well done.

Originally Posted by Unregistered

Thanks for the advice. We have decide to retire sooner rather than later. As a multi millionaire couple living in a nice condo and having a growing passive income, we can afford to retire from paid work to pursue our interests. We don't want to be old multi millionaires who work until the day he die and leaving his fortune to fighting children.

We know of people who retired at 65 and died immediately after. His wife and children happily squandered his fortune. There are people who even gamble away inheritance at casinos because they don't value the fortune as they didn't work for them.

Originally Posted by Unregistered

Wow! You're a multi millionaire couple! Like that can surely retire now. Congrats on your achievement. You have worked hard and it is time to enjoy your success. Well done.

Thanks. We look forward to our retirement. Since money is not an issue for us, we have many things we can do.

You have done well. You own the two most desired items in Singapore - condo and car. You will pay off your mortgage when you're 55. This is good as many people will still need to pay their mortgage until they are 65. You should not have a problem retiring at 65 but you can't retire as early as the multi millionaire couple.

Originally Posted by Unregistered

45, sole bread winner, total income $108k pa.

Expenses
1. Condo mortgage $2000 pm (10 more years to pay)
2. Car instalment and other car expenses $1200 pm
3. Children tuition, pocket money, enrichment, etc $1000 pm
4. Household expenses $2000 pm
5. Others $1300 pm

Savings $1500 pm

Originally Posted by Unregistered

38 and 37 year old couple in banking

Combined income $400K (assuming $50K bonus).

Cash and stocks: $800K
Endowment and cpf: $200K
Properties and other assets less loan: $2.2M

Plan to cruise at work another 10 yrs then retire

Caught this fake post.

Let me explain.....

Assuming an even split of income between husband and wife. Each one 200k (incl 25k bonus).
This implies a a fixed salary of 180k pa translating to 15k per month. With bonus of 25k, that translates to a bonus of 1 2/3 months.
What kind of pathetic bank pays a bonus of 1 2/3 months????

Even the aunties at cold storage cashier counters can get more bonus THan that!!

Why do people want to do fake posts?
Well, I will never know....

What I do know is thiat young dogs can learn new tricks aka this poster will post a moralistic bonus the next time LOL

Originally Posted by Unregistered

Caught this fake post.

Let me explain.....

Assuming an even split of income between husband and wife. Each one 200k (incl 25k bonus).
This implies a a fixed salary of 180k pa translating to 15k per month. With bonus of 25k, that translates to a bonus of 1 2/3 months.
What kind of pathetic bank pays a bonus of 1 2/3 months????

Even the aunties at cold storage cashier counters can get more bonus THan that!!

Why do people want to do fake posts?
Well, I will never know....

What I do know is thiat young dogs can learn new tricks aka this poster will post a moralistic bonus the next time LOL

*realistic* bonus

Originally Posted by Unregistered

Caught this fake post.

Let me explain.....

Assuming an even split of income between husband and wife. Each one 200k (incl 25k bonus).
This implies a a fixed salary of 180k pa translating to 15k per month. With bonus of 25k, that translates to a bonus of 1 2/3 months.
What kind of pathetic bank pays a bonus of 1 2/3 months????

Even the aunties at cold storage cashier counters can get more bonus THan that!!

Why do people want to do fake posts?
Well, I will never know....

What I do know is thiat young dogs can learn new tricks aka this poster will post a moralistic bonus the next time LOL

Well, I make $20K basic monthly and my wife $9K basic monthly.

$50K is 2 months bonus for me and 1 month for her. Being conservative as bonus is not guaranteed and we are in support functions.

Can I ask whats the relation between retiring early and having spoiled kids? If you had kids at say 30 years old and retire at sat 55 your kids would be 25 years old, if they were already spoiled rotten by then how would retiring and spending time with them then change anything, in fact if they spoiled by their teens hardly much would change that unless you uprooted your family and moved to another country. By their late teens they would already be prefer to hang out with their friends rather than their retired parents.

Rich or poor its about the upbringing, seems silly to keep mentioning working people with spoiled children giving this illusion that they are related. You mean to tell me all retired people have very filial children?

Originally Posted by Unregistered

Thanks for the advice. We have decide to retire sooner rather than later. As a multi millionaire couple living in a nice condo and having a growing passive income, we can afford to retire from paid work to pursue our interests. We don't want to be old multi millionaires who work until the day he die and leaving his fortune to fighting children.

We know of people who retired at 65 and died immediately after. His wife and children happily squandered his fortune. There are people who even gamble away inheritance at casinos because they don't value the fortune as they didn't work for them.

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