How much are you earning per annum?

Age: 27
Annual salary excluding bonus: ~$800k in a sales job
Single.
Savings: $4M
House: D9
Car: CLS500
Annual expenditure: $50k

I leave my investments in the trusted hands of my POSB banker. Currently, my investments generate a good yield of 20% p.a. and are reinvested to give me greater returns. I spend my free time bringing my family to dine at food court.

Originally Posted by Unregistered

Age: 29
Annual salary excluding bonus: ~$500k in a sales job
Married with 2 child. Sole breadwinner
Savings: $400k
House: GCB at Sentosa Cove
Car: Koenigsegg CCXR Trevita
Annual expenditure: $20k
I leave my investments in the trusted hands of my personal banker who has looked after the wealth of my family three-generations before. Currently, my investments generate a good yield of 10% p.a. and are reinvested to give me greater returns. I spend my free time bringing my family to dine at hawker centres because we prefer hawker food compared to the pretentious fine dining.

Ooh yeah take a huge ass bite out of that cake baby.

Don't the Dutch just make the best cakes?

Originally Posted by Unregistered

Age: 27
Annual salary excluding bonus: ~$800k in a sales job
Single.
Savings: $4M
House: D9
Car: CLS500
Annual expenditure: $50k

I leave my investments in the trusted hands of my POSB banker. Currently, my investments generate a good yield of 20% p.a. and are reinvested to give me greater returns. I spend my free time bringing my family to dine at food court.

This dude apparently had seconds.

Hi folks!

I am Bill and this is a foundation that me and my wife founded for to ensure more children and young people survive and thrive.

://.gatesfoundation.org/

Do not be a fool in this temporary world.

Don't waste all your life working so hard, hoarding so much wealth and then die leaving behind your big fortune for your wife and children to enjoy. Your wealth doesn't follow you to your grave.

It's ok to work hard to accumulate just enough for you and wife to retire comfortably. It's however very stupid to work so hard until you don't have time to enjoy your wealth.
There are people who work so hard to accumulate millions thinking they will retire at 65 to enjoy their wealth. But they die at 50 due to high stress, lack of sleep, poor diet, no exercise, overweight, diabetes, cancer, etc.

I don't plan to work until I'm so old. I'm not going to leave behind a big fortune for my children. Sorry children, this is for your own good. I will just give them a good education and they will make use of their education to earn a good living for themselves. I don't want to spoil them. I came from a low income family but worked my way up. My children too can achieve that. I will not work so hard to afford a big bungalow. Why should I? If I work another 20 years just so that I can buy the big bungalow at the expense of my retirement, then it's very, very stupid.

I will retire at 55. By then I will be debt free. I will retire in place in my 3 bedroom luxurious condominium apartment where I can enjoy the many facilities such as a big swimming pool, modern gym, tennis court, etc. I will have enough cash and investments for me to retire well. I want to make the best use of my time in retirement to explore the world leisurely. I also want to learn new things and read lots of books which I have no time for. I want to exercise more and keep fit. I want to do social work to help those in need.

I want to have a full life and not be a fool in life.

Originally Posted by Unregistered

30yo guy, single
Base salary 150k sgd
Bonus 6-9 months
Savings minimal
CPF OA 40k, total 65k

Hi, what do you work as?

Originally Posted by Unregistered

Hi, what do you work as?

Finance lor

We are a successful couple as we have raised two wonderful children who are well mannered, filial and are doing well in school. We are both 48 yo, earning a total income of $130k pa and we save $30k pa.

We don't have any debt as our 4 room apartment is now fully paid. It is worth at least $400k. We also own a nice, new car which we have paid in full cash. We enjoy a comfortable middle class lifestyle. We can afford to eat at good restaurants every weekends and we go for overseas holidays twice a year.

Our focus now is preparation for our retirement. We will retire in our current home as we enjoy living in the nice neighbourhood. Neighbours are friendly. We hope to retire at 58 after our children got married and move into their own homes.

Our combined net worth has reached $1m. This is a big achievement for us. When we first got married, our combined net worth was only about $100k. Our net worth grew by 10x over 20 years!

Our net worth - Home $400k Cash & CPF $500k Stocks $100k

Do not be a fool in this temporary world.

Don't waste all your life working so hard, hoarding so much wealth and then die leaving behind your big fortune for your wife and children to enjoy. Your wealth doesn't follow you to your grave.

It's ok to work hard to accumulate just enough for you and wife to retire comfortably. It's however stupid to work so hard until you don't have time to enjoy your wealth. There are people who work so hard to accumulate millions thinking they will retire at 65 to enjoy their wealth. But they die at 50 due to high stress, lack of sleep, poor diet, no exercise, overweight, etc.

I don't plan to work until I'm so old. I'm not going to leave behind a big fortune for my children. I will just give them a good education and they will make use of their education to earn a good living for themselves. I don't want to spoil them. I came from a low income family but worked my way up. My children too can achieve that. I will not work so hard to afford a big bungalow. Why should I? If I work another 20 years just so that I can buy the big bungalow at the expense of my retirement, then it's stupid.

I will retire at 55. By then I will be debt free. I will retire in place in my 3 bedroom condominium apartment where I can enjoy the many facilities. I will have enough cash and investments for me to retire well. I want to make the best use of my time in retirement to explore the world leisurely. I also want to learn new things and read lots of books which I have no time for. I want to exercise more and keep fit. I want to do social work to help those in need.

I want to have a full life and not be a fool in life.

The decision on when to retire depends first on finances, retirement lifestyle choice and your marginal value of your free time.

A couple who chooses a simple retirement lifestyle, meaning retire in place in their HDB flat and have enough to meet the basice needs of food, medical and other essential expenses which is about $2,000 pm can retire if they have sources of passive income to cover this.

A couple who chooses a more luxurious lifestyle, complete with a car will need $10,000 pm.

Once the issue of finances is settled, it then depends on the willingness to give up your earned income for your free time. Trading income with your time. If you value your free time more than income, then you will retire. Those who earn high salaries may not want to give up their salaries and so remain working until they die. Those who are financially independent and value their time more than their salaries will decide to retire.

Those who can retire but have to retirement plan activities will choose not to retire as they will feel bored at home.

The choice to retire on not is very much a personal choice depending on one's circumstances and personalities. If you are financially independent and have exciting plans for your retirement, then by all means retire and do things you have always wanted but did not have the time to do. This could be travelling for a few months to different parts of the world, doing charity work to feed the poor and needy, doing lots of reading and many more.