How much are you earning per annum?

Originally Posted by Unregistered

Looks liks COE will tank to $30k very soon

And who say I am the idiot who predicted $30k mark would come true:?? That short sighted person is the biggest idiot!!

I hope it will crash to $10k in a few months time so that I can scrap my one year old car and get a brand new car. Huat Ah!!!!!!

You're awesome! You're a role model. Many of us here are in our fifties but still have to work as salaried workers. You must be smarter than all of us here combined!

Originally Posted by Unregistered

Thanks for sharing and congratulations on your achievements!

I've also had a great 2015. I'm happily retired and spending a lot of my time helping out in charities. I'm a much more happier person since my retirement. Life is so much more meaningful. During my charity work, I'm often reminded of my many blessings. Today, I'm blessed with a net worth that increased by multiple folds over the last six years. Six years ago I was in my early forties and now I've achieved financial freedom and living in a new condo.

Wishing everyone a great 2016! :-)

[Image: 321628.jpeg]

Retirement, contrary to popular opinion, is not the time in which your satisfaction with life declines and your health deteriorates. Instead, it’s the exact opposite: Retirement is likely to improve your overall happiness and health, according to a working paper published by the National Bureau of Economic Research this year.

And that improvement happens immediately, according to the authors of the paper, Aspen Gorry and Devon Gorry, both professors at Utah State University, and Sita Slavov, a professor at George Mason University.

But is it so obvious that retiring is better than working, and that you start to feel happier and healthier as soon as you retire?
Below, Aspen Gorry answers our questions about the study, its implications and what those planning for retirement should take away from the study.

Question: What were the study’s goals?

Answer: We wanted to study the effect of retirement on people’s well being and health as well as their health-care utilization. This question is really difficult to assess in the data because when people are faced with poor health, they often retire. Thus, looking at the raw correlation between people’s health and retirement status can give a misleading picture. If unhealthy or unhappy people are more likely to retire it will appear that retirement is bad for health and happiness. We wanted to know the causal effect of retirement on these outcomes. Beyond the importance to individuals as they make retirement decisions, the answers to these questions are also important for policy as countries decide whether to extend Social Security eligibility ages since health-care costs are often paid by the government.

Can you describe your findings?

We find that retirement improves both happiness and health. We find that life satisfaction improves immediately upon retirement and these effects are long-lasting. While we don’t find immediate effects on measurable health outcomes, we do find positive health impacts four or more years beyond retirement. This finding is consistent with the idea that health changes slowly over time so that retirement can have long run health benefits. We find no effect of retirement on health care utilization.

What surprised you most about the findings?

We were surprised that the positive impact of retirement on reported well being was long lasting as many life events have been found to have only short-run effects that fade over time. Past studies also haven’t found measurable health impacts of retirement so the fact that there are long-run health benefits is a new finding. We believe that this finding is the result of data that covers a longer time period. Finally, our findings suggest that these health benefits are not the result of increased health care utilization as most measures of utilization are not affected by retirement.

What findings were expected?

We were not surprised to find that retirement led to an immediate increase in life satisfaction as previous research has found that people are happier after they retire.

What are the implications for those saving for retirement?

I think a lot of people look forward to retirement and our study suggests that on average people are happier in retirement and some health limitations improve. It appears to be a good period in life.

h t t p : // w w w. marketwatch.com/story/the-secret-to-a-happier-healthier-life-just-retire-2015-07-27

27 male
215k per annum
own a condo (320k loan left)
jap car (no loan)

Early 50s old couple. Makes $165k pa. in total. Not much compared to people in this forum.
Condo bought a few years ago at good price, now valued at $950k. No more loan.
Other assets are cash, CPF and some stocks.
Car is paid up in cash.
We hope to retire at 60 years old.
Any advice how to prepare for retirement?

40s, single income two kids, living abroad.
Income-
Passive 700k
Business=1.5 million
Net worth:
-Cash 1.5m
-CPF 500k
-Index funds=2 million
-Actual stock+options=1.5m
-Singapore properties-two condos, total 6 million, excluding outstanding loan dues.
Greenwich home worth 7m currently living in+UWS 2 BR.
I guess compared with the hard hitters I'm not doing that well, but the lifestyle I lead is pretty amazing and it's great for keeping the kids sane compared with the Singaporean system. Can't really quite retire yet, but would plan on moving back to Singapore in the future when the kids go to university.

Must read this kind of research result with a pinch of salt. For every report that concluded that retirement is good, there are 2 reports that said early retirement is bad for health. For eg see this: .medicaldaily.com/planning-retiring-early-consider-these-5-health-risks-first-247669

Thus don't be swayed by the studies, especially as they were based on Ang Moh societies. We should assess whether to retire or not based on our own specific circumstances. Some questions we should ask ourselves :

Have you achieved what you want in life?
Do you have sufficient savings to support your retirement lifestyle and for how many years?
Do you like our job? Do you derived satisfaction and sense of achievement in your job?
Is your job detrimental to your health?
Do you know what to do in retirement?
Will your social life be better in retirement? Or will you become loners/ isolated?
Are you currently relying on your company medical insurance / benefits for your ailment?

As you can see, financial security / adequacy is only one of the factors to consider in deciding whether to retire. The others are equally important. But the most important is to be discerning enough not to blindly follow other people. You should be fully aware of your own situation and circumstances to know if you can retire already.

If you have to come to this forum to get affirmation for your decision then you are not ready.

Originally Posted by Unregistered

[Image: 321628.jpeg]

Retirement, contrary to popular opinion, is not the time in which your satisfaction with life declines and your health deteriorates. Instead, it’s the exact opposite: Retirement is likely to improve your overall happiness and health, according to a working paper published by the National Bureau of Economic Research this year.

And that improvement happens immediately, according to the authors of the paper, Aspen Gorry and Devon Gorry, both professors at Utah State University, and Sita Slavov, a professor at George Mason University.

But is it so obvious that retiring is better than working, and that you start to feel happier and healthier as soon as you retire?
Below, Aspen Gorry answers our questions about the study, its implications and what those planning for retirement should take away from the study.

Question: What were the study’s goals?

Answer: We wanted to study the effect of retirement on people’s well being and health as well as their health-care utilization. This question is really difficult to assess in the data because when people are faced with poor health, they often retire. Thus, looking at the raw correlation between people’s health and retirement status can give a misleading picture. If unhealthy or unhappy people are more likely to retire it will appear that retirement is bad for health and happiness. We wanted to know the causal effect of retirement on these outcomes. Beyond the importance to individuals as they make retirement decisions, the answers to these questions are also important for policy as countries decide whether to extend Social Security eligibility ages since health-care costs are often paid by the government.

Can you describe your findings?

We find that retirement improves both happiness and health. We find that life satisfaction improves immediately upon retirement and these effects are long-lasting. While we don’t find immediate effects on measurable health outcomes, we do find positive health impacts four or more years beyond retirement. This finding is consistent with the idea that health changes slowly over time so that retirement can have long run health benefits. We find no effect of retirement on health care utilization.

What surprised you most about the findings?

We were surprised that the positive impact of retirement on reported well being was long lasting as many life events have been found to have only short-run effects that fade over time. Past studies also haven’t found measurable health impacts of retirement so the fact that there are long-run health benefits is a new finding. We believe that this finding is the result of data that covers a longer time period. Finally, our findings suggest that these health benefits are not the result of increased health care utilization as most measures of utilization are not affected by retirement.

What findings were expected?

We were not surprised to find that retirement led to an immediate increase in life satisfaction as previous research has found that people are happier after they retire.

What are the implications for those saving for retirement?

I think a lot of people look forward to retirement and our study suggests that on average people are happier in retirement and some health limitations improve. It appears to be a good period in life.

h t t p : // w w w. marketwatch.com/story/the-secret-to-a-happier-healthier-life-just-retire-2015-07-27

You sound as though you have experienced retirement yourself. If not, just keep quiet.

Originally Posted by Unregistered

Must read this kind of research result with a pinch of salt. For every report that concluded that retirement is good, there are 2 reports that said early retirement is bad for health. For eg see this: .medicaldaily.com/planning-retiring-early-consider-these-5-health-risks-first-247669

Thus don't be swayed by the studies, especially as they were based on Ang Moh societies. We should assess whether to retire or not based on our own specific circumstances. Some questions we should ask ourselves :

Have you achieved what you want in life?
Do you have sufficient savings to support your retirement lifestyle and for how many years?
Do you like our job? Do you derived satisfaction and sense of achievement in your job?
Is your job detrimental to your health?
Do you know what to do in retirement?
Will your social life be better in retirement? Or will you become loners/ isolated?
Are you currently relying on your company medical insurance / benefits for your ailment?

As you can see, financial security / adequacy is only one of the factors to consider in deciding whether to retire. The others are equally important. But the most important is to be discerning enough not to blindly follow other people. You should be fully aware of your own situation and circumstances to know if you can retire already.

If you have to come to this forum to get affirmation for your decision then you are not ready.

To the 35 yr old with one P2 kid living in 3 room flat fully paid up with 250k cash

That lead simple lifestyle smiley face seems to me that you are really very happy
Maybe you can try to invest all that cash to make it work harder for you
Are you also planning to upsize your home?

All the best to you!

Originally Posted by Unregistered

You are doing well. Always look at those who have lesser than you. Don't compare with those who has more than you. The comparison will never end. That is why some people will still feel not rich enough even if they have $5m. They will never feel enough, they are so attached to worldly things that they will never fill satisfied. Don't be a slave to this temporary worldly things.

Just search in you tube "global poverty" and you will realise how lucky you are.

Thanks for the article. The research findings is very true. I'm retired and I am very much happier now than when I was working in a highly stressful job in high finance. Anyway I've made my fortune and now is the time to enjoy it. I think if I had continued working I could be dead by now as the level of stress is just too much. I'm happier, healthier and my family loves me more. I'm financially in a very good position. Life is very good now!

Originally Posted by Unregistered

[Image: 321628.jpeg]

Retirement, contrary to popular opinion, is not the time in which your satisfaction with life declines and your health deteriorates. Instead, it’s the exact opposite: Retirement is likely to improve your overall happiness and health, according to a working paper published by the National Bureau of Economic Research this year.

And that improvement happens immediately, according to the authors of the paper, Aspen Gorry and Devon Gorry, both professors at Utah State University, and Sita Slavov, a professor at George Mason University.

But is it so obvious that retiring is better than working, and that you start to feel happier and healthier as soon as you retire?
Below, Aspen Gorry answers our questions about the study, its implications and what those planning for retirement should take away from the study.

Question: What were the study’s goals?

Answer: We wanted to study the effect of retirement on people’s well being and health as well as their health-care utilization. This question is really difficult to assess in the data because when people are faced with poor health, they often retire. Thus, looking at the raw correlation between people’s health and retirement status can give a misleading picture. If unhealthy or unhappy people are more likely to retire it will appear that retirement is bad for health and happiness. We wanted to know the causal effect of retirement on these outcomes. Beyond the importance to individuals as they make retirement decisions, the answers to these questions are also important for policy as countries decide whether to extend Social Security eligibility ages since health-care costs are often paid by the government.

Can you describe your findings?

We find that retirement improves both happiness and health. We find that life satisfaction improves immediately upon retirement and these effects are long-lasting. While we don’t find immediate effects on measurable health outcomes, we do find positive health impacts four or more years beyond retirement. This finding is consistent with the idea that health changes slowly over time so that retirement can have long run health benefits. We find no effect of retirement on health care utilization.

What surprised you most about the findings?

We were surprised that the positive impact of retirement on reported well being was long lasting as many life events have been found to have only short-run effects that fade over time. Past studies also haven’t found measurable health impacts of retirement so the fact that there are long-run health benefits is a new finding. We believe that this finding is the result of data that covers a longer time period. Finally, our findings suggest that these health benefits are not the result of increased health care utilization as most measures of utilization are not affected by retirement.

What findings were expected?

We were not surprised to find that retirement led to an immediate increase in life satisfaction as previous research has found that people are happier after they retire.

What are the implications for those saving for retirement?

I think a lot of people look forward to retirement and our study suggests that on average people are happier in retirement and some health limitations improve. It appears to be a good period in life.

h t t p : // w w w. marketwatch.com/story/the-secret-to-a-happier-healthier-life-just-retire-2015-07-27