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-   -   How much savings do you have? (https://forums.salary.sg/investments-net-worth/1199-how-much-savings-do-you-have.html)

Unregistered 03-02-2016 05:52 PM

Mark Zuckerberg. (my apologies)

Unregistered 03-02-2016 06:12 PM

Quote:

Originally Posted by Unregistered (Post 79205)
Chosen singlehood, 46yo. Yes, partly due to my status,other factors - less risk adverse to unconventional (higher-risk) investments & getting professionals (one remisier cousin, one trustworthy financial consultant), having mindset of working earnings hard & "not working hard for my money", etc. strongly believe also in "giving" in order to "receive" n love to be generous to self & family. Above all, setting retirement target helps.

Just to share with you. Not to show off but something which everyone, esp the younger forumers here can learn from. I started my career with an end in mind, the end is early retirement as I wanted to do so many things before I grow old and die. I worked very hard in my career as a top performing executive and invested my money successfully. Now I am a retired millionaire at the age of 50. I am now fulfilling my dreams to explore the world and make a difference. When do you plan to retire?

Unregistered 03-02-2016 06:26 PM

Quote:

Originally Posted by Unregistered (Post 79256)
Just to share with you. Not to show off but something which everyone, esp the younger forumers here can learn from. I started my career with an end in mind, the end is early retirement as I wanted to do so many things before I grow old and die. I worked very hard in my career as a top performing executive and invested my money successfully. Now I am a retired millionaire at the age of 50. I am now fulfilling my dreams to explore the world and make a difference. When do you plan to retire?

how many millions is needed for a retirement that's comfortable by your standard?

Unregistered 03-02-2016 06:44 PM

Quote:

Originally Posted by Unregistered (Post 79257)
how many millions is needed for a retirement that's comfortable by your standard?

It's not the amount of millions that matter but the passive that the millions can generate. If the passive income more than cover your expenses, then you're considered financially independent and can retire. It's the expenses that matters. If your expenses is $200k pa, then your investable assets must be $5m assuming it generates a dividend yield of 4%.

I don't compromise on quality of life, so I retire in a luxury condo in a good district and drives a beautiful car. As I'm debt free (your property and car are your two most expensive assets), my expenses are not that high. I don't go partying all night, I don't gamble nor smoke. I lead a full and healthy life.

Are you a guy or lady?

Unregistered 03-02-2016 07:33 PM

Quote:

Originally Posted by Unregistered (Post 79261)
It's not the amount of millions that matter but the passive that the millions can generate. If the passive income more than cover your expenses, then you're considered financially independent and can retire. It's the expenses that matters. If your expenses is $200k pa, then your investable assets must be $5m assuming it generates a dividend yield of 4%.

I don't compromise on quality of life, so I retire in a luxury condo in a good district and drives a beautiful car. As I'm debt free (your property and car are your two most expensive assets), my expenses are not that high. I don't go partying all night, I don't gamble nor smoke. I lead a full and healthy life.

Are you a guy or lady?

Lady. Why?

Unregistered 03-02-2016 08:33 PM

Age 24
Still studying in NUS, no income
Savings: 20k cash, 20k in corporate bonds, 5k in a STI stock
Managed to save these from my army salary, angpao since young, part time jobs etc and investing in the stock market.
Hoping to get married with my Girlfriend early maybe 2 years after graduation. Not sure if my pace of savings is enough for marriage

Unregistered 03-02-2016 08:35 PM

Quote:

Originally Posted by Unregistered (Post 79262)
Lady. Why?

Ladies are generally prudent in managing their finances.

Are you retired? If not, when will you retire?

Unregisteredr 03-02-2016 09:54 PM

Savings & Retirement funds
 
Quote:

Originally Posted by Unregistered (Post 79256)
Just to share with you. Not to show off but something which everyone, esp the younger forumers here can learn from. I started my career with an end in mind, the end is early retirement as I wanted to do so many things before I grow old and die. I worked very hard in my career as a top performing executive and invested my money successfully. Now I am a retired millionaire at the age of 50. I am now fulfilling my dreams to explore the world and make a difference. When do you plan to retire?

Happy for you. In a way, since 5 years ago, I have adopted "retirement" mentality in terms of attitude and outlook (taking things easy, full-time pay, part-time mindset in the sense that work is NOT my main preoccupation; the real full-time life is my personal lifestyle). Tangibly, I do not want to retire too early(unless a different direction comes along or attracts me). With my measurable no.of vacation leave, I can choose to be off work when time is appropriate - either overseas vacation or personal/family activities. In the past (early) retirement seems appealing in view of lower mortality rate, thus factoring in time to enjoy life before one gets physically weaker/less mobile. However, with affluence-education, health-conscious lifestyle, social and economic help, and alternative medical options/cure, people are more healthy/fitter and could easily live another 10-20 years longer. Sticking to current retirement age is "timely" and enable one to enjoy at least another 20 good years.
Someone asked what is my net worth. I did a quick calculation based on sale of the properties, stocks, returns to investment in the short term(til 2018),etc. It is in the range of $2.5mil +/-(I am thankful to my faith/blessedness and the people I have been blessed with, in helping me). With my financial status now, I am able to have financial security for the future, pursue a lifestyle and activities I love doing, and more satisfying too, to bring joys in others' life(family, friends and otherwise).
I sincerely hope more people will benefit from a less conservative investment approach, do their due diligence before committing in investments ...it can only get better. I know because I once started from "zero".
Julie

Unregistered 03-02-2016 10:09 PM

Quote:

Originally Posted by Unregistered (Post 79269)
Ladies are generally prudent in managing their finances.

Are you retired? If not, when will you retire?

If I'm able to find the right one with similar goals, will retire within the next 10 years.

Unregistered 04-02-2016 07:52 AM

Quote:

Originally Posted by Unregistered (Post 79275)
If I'm able to find the right one with similar goals, will retire within the next 10 years.

Are you looking for a right partner? I thought you prefer sibglehood?


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