How much are you earning per annum?

You have to use / read statements like this "If you are financially free" with caution because the cost of living is dynamic (always on the up) and our lifestyle is also not static.

Even if you live a simple and "constant" lifestyle, your yearly expense will go up because of inflation. Worse if you have sudden medical expenses. So, you could be "financially free" at one point, and a few years down the road, become financially needy.

Again, know what you want in life. Retirement is not a solution most of the time. For many, it is the start of many of their problems. At an advanced age (late 40s onwards), getting re-employment would be near impossible.

Originally Posted by Unregistered

If you are financially free, then by all means you can retire from salaried work.
Beside enjoying your success, you can do charity work to help others in need and to keep your life more meaningful and fulfilling.

We have a few millionaires in this forum.


s://sg.finance.yahoo.com/news/singapore-land-millionaires-2020-predicts-064900471.html

Almost 1 in 30 residents will be ultra-wealthy in five years.

Millionaires, or high net worth individuals (HNWIs), will grow at a faster rate in Singapore than in Hong Kong, according to a study by WealthInsight.

Singapore currently has 154,000 HNWIs that collectively hold US$806.3b in net wealth, reflecting a population growth of 17% from the 130,000 millionaires in the country in 2010. By 2020, Singapore HNWIs are expected to number 188,000- roughly 1 millionaire in 30 people. This reflects an 18.3% hike in the next half-decade, versus the expected 15.6% HNWI growth in Hong Kong.

Both cities attract a great many successful business owners and wealthy individuals, but what’s driving the steep spike in Singapore?

“Though Hong Kong has a much higher millionaire population than Singapore (193,000 against Singapore’s 154,000), recent events such as the umbrella revolution may have turned migratory HNWIs away from the city,” supplies WealthInsight head Oliver Williams.

“Singapore's burgeoning financial markets, renowned private banking and superior quality of life are continuing to attract HNWIs from neighbouring countries. We’re currently seeing a large influx of Indian and Chinese millionaires into the country.”

The study also noted that HNWI average wealth is largely indicative of a nation’s equality- the lower the average, the more evenly that wealth is distributed amongst others. Singapore currently holds the lowest average in all of Asia as average wealth stood at US$5.2m per HNWI.

COE

Cat A $59,200
Cat B $61,103

I told you so. COE will move higher from now onwards.
The lows is over.
Congrats if you got your car earlier.
Huat Ah!!!!!

Originally Posted by Unregistered

COE

Cat A $59,200
Cat B $61,103

I told you so. COE will move higher from now onwards.
The lows is over.
Congrats if you got your car earlier.
Huat Ah!!!!!

The Dead Cat is bouncing

Well, it's true about living a purposeful life. I retired at 42, now I am 45. I am still looking for something to do with myself. Charitable donations, I have given quite a lot already. Traveling I have also done a lot. Thinking of doing some courses or things I have always wanted to learn next. Meanwhile, also thinking of doing some work but I can't imagine working for someone because I used to do my own business.

Originally Posted by Unregistered

Well, it's true about living a purposeful life. I retired at 42, now I am 45. I am still looking for something to do with myself. Charitable donations, I have given quite a lot already. Traveling I have also done a lot. Thinking of doing some courses or things I have always wanted to learn next. Meanwhile, also thinking of doing some work but I can't imagine working for someone because I used to do my own business.

Why not give free tuition to children from poor families?

Originally Posted by Unregistered

The Dead Cat is bouncing

It's an uptrend. Trend reversal.
Year end bonus coming.
Car show receive lots of orders.
CNY coming.
Next rounds will surely be UP, UP and UP!!!!!!!
LOL.

Don't rush la.
It Will come down after March.

Originally Posted by Unregistered

COE

Cat A $59,200
Cat B $61,103

I told you so. COE will move higher from now onwards.
The lows is over.
Congrats if you got your car earlier.
Huat Ah!!!!!

Last year this time, I got my Cat B at COE $72k. That is despite people coming to forum here to shout Huat ah.

this year, the COE has drop to $60k. you can continue to shout huat ah. But the fact is that with the tsunami of supply coming up in next 2 years. The COE trend is going to get lower. not withstanding the economic crisis which will drive it lower.

Well I hope this article will put to rest, the doubts harboured by some about the claims of high networth and high incomes posted here.

Really, going by the article, the old man with his combined HH networth of $5.8m is not even considered among the 154,000 HNWIs currently in Singapore. So can you imagine the number of people in the second tier wealthy group with below US$5.8m networth! They may number in hundreds of thousands.

With increasing wealth in the country, demands for good and services can only go up. This will push up prices (inflation). So do heed the old man's words about planning well for the future. Put some buffer in your retirement fund planning to cope with inflation and dont retire prematurely. Retiring without adequate planning may give you temporary stress relief from your job, but the stress from worrying about money to sustain you in retirement will be far worse.

Originally Posted by Unregistered

We have a few millionaires in this forum.


s://sg.finance.yahoo.com/news/singapore-land-millionaires-2020-predicts-064900471.html

Almost 1 in 30 residents will be ultra-wealthy in five years.

Millionaires, or high net worth individuals (HNWIs), will grow at a faster rate in Singapore than in Hong Kong, according to a study by WealthInsight.

Singapore currently has 154,000 HNWIs that collectively hold US$806.3b in net wealth, reflecting a population growth of 17% from the 130,000 millionaires in the country in 2010. By 2020, Singapore HNWIs are expected to number 188,000- roughly 1 millionaire in 30 people. This reflects an 18.3% hike in the next half-decade, versus the expected 15.6% HNWI growth in Hong Kong.

Both cities attract a great many successful business owners and wealthy individuals, but what’s driving the steep spike in Singapore?

“Though Hong Kong has a much higher millionaire population than Singapore (193,000 against Singapore’s 154,000), recent events such as the umbrella revolution may have turned migratory HNWIs away from the city,” supplies WealthInsight head Oliver Williams.

“Singapore's burgeoning financial markets, renowned private banking and superior quality of life are continuing to attract HNWIs from neighbouring countries. We’re currently seeing a large influx of Indian and Chinese millionaires into the country.”

The study also noted that HNWI average wealth is largely indicative of a nation’s equality- the lower the average, the more evenly that wealth is distributed amongst others. Singapore currently holds the lowest average in all of Asia as average wealth stood at US$5.2m per HNWI.