How much are you earning per annum?

I have a different take on retirement.

Plan and just save enough so that you don't go hungry and miserable during your retirement. Most people saus retirement is for enjoying life but seriously, when you are 60 or even 50, you probably would not have the energy to enjoy what you want to enjoy now.

Spend within your needs and enjoy what you can afford now I say. There is no point slogging through the most of your life so just that you enjoy the twilight years of your life. This is definitely not living your life to the fullest!

Remember, most people don't regret the things they have done, but everyone regrets the things they have not done!

Totally agree with you. That is why you should work hard in your career, save and invest a lot so that you can retire in your 40s. There are corporate high flyers who are extraordinarily successful and they retired before reaching 50. They then spend their time being angel investors, helping start ups to succeed.

Originally Posted by Unregistered

I have a different take on retirement.

Plan and just save enough so that you don't go hungry and miserable during your retirement. Most people saus retirement is for enjoying life but seriously, when you are 60 or even 50, you probably would not have the energy to enjoy what you want to enjoy now.

Spend within your needs and enjoy what you can afford now I say. There is no point slogging through the most of your life so just that you enjoy the twilight years of your life. This is definitely not living your life to the fullest!

Remember, most people don't regret the things they have done, but everyone regrets the things they have not done!

Hi,

I'm heartened by your story. Being grateful with what we have is the way to happiness. You don't have to be rich to be happy.

Most of us are in the middle class group. 80% of us is in this group. Only the top 20% is in the high income group. These are those living in private properties and owning cars. They are the highly successful professionals and business owners.

As long as you have enough for your retirement, you should be ok.

Originally Posted by Unregistered

We are a middle class family, living a simple but comfortable life. My spouse and I earn a combined income of $145k pa. This amount is not so high for a couple in their late forties but we are happy. We live in a humble home and drive a humble car. We're still paying for the mortgage of our home. We hope to clear the mortgage in ten years time. We can still afford cheap year end holidays as well as going out to restaurants occasionally. We also support our old parents financially, on both sides. Due to our commitments, we only save $20k pa. We should be able to have $300k in cash savings when we retire at 60 years old. By then, we will most likely have no more dependents. We will spend $30k pa ($2.5k pm) in our retirement, so we will spend $150k from age 60 to 65. Upon age 65, our CPF Life will start paying us about $45k pa until the day we decease. As inheritance, we will leave behind our home and cash savings for our children.

Originally Posted by Unregistered

I have a different take on retirement.

Plan and just save enough so that you don't go hungry and miserable during your retirement. Most people saus retirement is for enjoying life but seriously, when you are 60 or even 50, you probably would not have the energy to enjoy what you want to enjoy now.

Spend within your needs and enjoy what you can afford now I say. There is no point slogging through the most of your life so just that you enjoy the twilight years of your life. This is definitely not living your life to the fullest!

Remember, most people don't regret the things they have done, but everyone regrets the things they have not done!

I am in my mid-40s and wondering whether to go into semi-retirement, for the reasons mentioned by you. For example, I would like to travel as and when I like and when I still have the energy to do so. This is not to say that I would not have the health to travel when I am older but who knows what will happen in the future. I have the means to retire now if I don't spend extravagantly. On the other hand, my job is not stressful (though boring) and so I do have good work-life balance currently. Should I retire?

Originally Posted by Unregistered

I am in my mid-40s and wondering whether to go into semi-retirement, for the reasons mentioned by you. For example, I would like to travel as and when I like and when I still have the energy to do so. This is not to say that I would not have the health to travel when I am older but who knows what will happen in the future. I have the means to retire now if I don't spend extravagantly. On the other hand, my job is not stressful (though boring) and so I do have good work-life balance currently. Should I retire?

How old are your kids? How much is your passive income and net worth?

Originally Posted by Unregistered

How old are your kids? How much is your passive income and net worth?

Single with no liabilities. Generating 40k in passive income annually.

Originally Posted by Unregistered

How old are your kids? How much is your passive income and net worth?

Single with no liabilities. Generating about 40k in passive income annually. Net worth $2 mil.

Originally Posted by Unregistered

Single with no liabilities. Generating about 40k in passive income annually. Net worth $2 mil.

You can retire now. Enjoy yourself and do some volunteer work to help the needy.

You can travel the world while you're still young and healthy. No need to wait until you're so old at 50.

For those who can afford to upgrade, do you think now is the time to upgrade and invest in a landed property in Sg? Will property prices shoot up again soon or remain stagnant in the mid term period of say 4-6 years?

Originally Posted by Unregistered

Single with no liabilities. Generating about 40k in passive income annually. Net worth $2 mil.

married with two teenager kids, paid up condo and luxury car, no debt
generating passive income 35k last year, cash+cpf $1mil, condo worth $1.5mil
we are both 45
can we retire early?