How much are you earning per annum?

Full time trader, 49. Spouse, office worker, 46.
My income, $100k pa. Spouse income, $110k pa.
Household expenses, $130k pa. Expenses shared equally.
3 bedroom condo in central area, fully paid up a few years ago.
One year old car, paid up.
Children's Uni fund ready.
Debt free.
My net worth is 2x of spouse's net worth.
Enjoy a comfortable middle class lifestyle, overseas holidays twice a year, eat good food at restaurants, etc.
I will not retire so soon as I enjoy my trading job from my home office. I am the boss. No more office politics.

Originally Posted by Unregistered

Mortgage Specialist (sales)
29 years old
200k last year

Wow how to get ur job? I mean what kind of degree or sth
I'm currently a jc student

Piped dream people. If you have no children, then maybe you can go back packing across Europe or the US.

I have done a little of this when I was a graduate student in US uni. It is something you do once.

At my age now, when I travel, I want to travel in comfort. Roughing it out doesn't cut it for me anymore. Especially when we are traveling as a family. For our annual holiday last year to NZ, we spent $15k. Not a small sum but paid for fully with passive income.

So you see guys, quitting your job early in life so that you can go for long holidays is a sure fire way that you will be poor as you get older.

Work hard now, save and invest well and your "future you" will thank you for it. Ensure that you build up a strong foundation in your finances to last you through your old age.

Speaking to the two old cleaners in my office, I learnt that they had no choice but to continue to work because they didn't earn much so they could not save enough in their younger days. So if we are earning well, we have one less excuse why we could not prepare well financially for retirement.

If you are not a successful banker, quitting your job (some more both husband and wife) to go back packing for so many months is irresponsible thinking.

Originally Posted by Unregistered

Back packing in Europe for 4 - 6 months sounds fun! You surely can't do this if you're not fully retired. You can't do this if you're 65 years or older, you won't have the energy and stamina. There are many successful professionals, esp ex-bankers, who retired in their 40s or early 50s to enjoy their hard earned fortune. They can live in many parts of the world for long periods. Imagine staying 3 months in US, 1 month in Canada, 1 month in Australia, 1 month in NZ, 6 months in Europe ....

Yup. We are looking forward to it!

Originally Posted by Unregistered

Back packing in Europe for 4 - 6 months sounds fun! You surely can't do this if you're not fully retired. You can't do this if you're 65 years or older, you won't have the energy and stamina. There are many successful professionals, esp ex-bankers, who retired in their 40s or early 50s to enjoy their hard earned fortune. They can live in many parts of the world for long periods. Imagine staying 3 months in US, 1 month in Canada, 1 month in Australia, 1 month in NZ, 6 months in Europe ....

Lol when you're in your 20's, 30's maybe can still consider backpacking. I think if I'm in my 40's 50's I would rather do something less taxing. I backpacked across multiple continent overland so maybe our standard of "backpacking" differ

Much better would be to buy a holiday house in Au/Nz and maybe spend half a year there and then half a year in Sgp assuming the kids are independent (more or less) by then. That's my plan anyway

Originally Posted by Unregistered

Back packing in Europe for 4 - 6 months sounds fun! You surely can't do this if you're not fully retired. You can't do this if you're 65 years or older, you won't have the energy and stamina. There are many successful professionals, esp ex-bankers, who retired in their 40s or early 50s to enjoy their hard earned fortune. They can live in many parts of the world for long periods. Imagine staying 3 months in US, 1 month in Canada, 1 month in Australia, 1 month in NZ, 6 months in Europe ....

Originally Posted by Unregistered

My situation is similar.
I bought my condo during Sars. Paid $600k only at AMK. Fully paid now doubled.
Paid up 2lit new car this year.
Both of us are in mid 40: last year filed income $400k
We have 2 kids in lower secondary
Cash and stocks $0.75 M, CPF $0.4 M
Thinking of quiting one of our job to look after kid to make sure they are successful in life next time.
Hope to get some quality life back. It's so stressful to get where we are now

In 40s, report to new management 2 years back. Full of tai-chi, ask many questions and make no decision. Worse of all finger pointing is the culture of fully diversified multi national office. In short, shitty work.

Will hang on as long as possible till better comes along. Singapore you can't afford to lose income. If feel breakdown, go hospital and seek help under medical condition.

Originally Posted by Unregistered

In 40s, report to new management 2 years back. Full of tai-chi, ask many questions and make no decision. Worse of all finger pointing is the culture of fully diversified multi national office. In short, shitty work.

Will hang on as long as possible till better comes along. Singapore you can't afford to lose income. If feel breakdown, go hospital and seek help under medical condition.

should i hang on until they fire me, or resign voluntary as the job sucks?

Originally Posted by Unregistered

should i hang on until they fire me, or resign voluntary as the job sucks?

How much cash savings to do you have? If you have $500k of cash and stocks, you can just quit and take your time to find another job. This is especially so if the job cause you be in a deep depression. Don't listen to people who don't understand what it feels like to be in a depression.

Originally Posted by Unregistered

Yup. We are looking forward to it!

You deserve it after working so long in your job. As long as you are prepared financially, just do it and don't look back.

Originally Posted by Unregistered

Full time trader, 49. Spouse, office worker, 46.
My income, $100k pa. Spouse income, $110k pa.
Household expenses, $130k pa. Expenses shared equally.
3 bedroom condo in central area, fully paid up a few years ago.
One year old car, paid up.
Children's Uni fund ready.
Debt free.
My net worth is 2x of spouse's net worth.
Enjoy a comfortable middle class lifestyle, overseas holidays twice a year, eat good food at restaurants, etc.
I will not retire so soon as I enjoy my trading job from my home office. I am the boss. No more office politics.

Doing a job you love and having no boss to report to is the best job in the world. You must have done very well in your previous career to amass a huge capital to trade on your own. Anyway, since you own a condo in a prime district, you should have no worries. If you need to, just sell your prime district condo and move to a cheaper OCR condo and you will have millions in cash.