Whats your net worth

Originally Posted by Unregistered

Hi,

Came across your post. Just wanted to share that I am retired due to poor health. After so many years of leading an unhealthy lifestyle of a high flying corporate boss, I got sick. Not able to work any more. Now I just manage my own stocks investments which gives me $50k of stocks dividends per year. My wife earns $120k pa. We share our annual expenses of $80k per year. Luckily I have no debt. I am 52 this year, I hope I won't die so soon.

My message to all: money is not everything, take care of your health, don't any how eat and drink, don't womanize.

will womanising lead to poor health? some researchers say it's good for the prostate.

Originally Posted by Unregistered

What is your new target? I am reaching $3M networth with my wife and will turn 38 this year, but think it's not enough to quit working

My new target is $1.8M. I'm single. Already 43 yo. You're doing very well at your age.

Originally Posted by Unregistered

My new target is $1.8M. I'm single. Already 43 yo. You're doing very well at your age.

why are you not married? not good enough?

Both wife & me in mid 40s
Landed property : valued $4.2m, o/s loan $1.6m
Cash : $2.5m
Income : $300k p.a.
Valuation of interest in company : $3m

My wife and I own 3 condos, fully paid up. We stay in the penthouse while our old parents live in the two smaller condos in Bukit Timah. We are just your average Singaporean graduate couple. In fact, we are nothing compared to our friends who own big bungalows and many condos, fully paid up. They have so much money, they leave their condos empty.

Of course if your health is failing,and you cannot continue to work, then you should take a break to recuperate.

But for the rest of us, working till late in life may be necessary to keep up with the cost of living. Already our gahmen is again asking for the retirement age to be raised to 70 :Raise retirement age to 70: Lim Boon Heng | AsiaOne Business

If I can work till 70, with the pay I am getting now, I will be able to grow my net worth by another $2m to $2.5m (or total of $6.5m - $7m). It is ironical that as you retire older, you need less, but you end up saving more.

I was thinking maybe I don't need to buy another car once my current car COE expires, but if I were to work till 70, then I expect to be driving 2 more new cars (10 years each).

Originally Posted by Unregistered

Hi,

Came across your post. Just wanted to share that I am retired due to poor health. After so many years of leading an unhealthy lifestyle of a high flying corporate boss, I got sick. Not able to work any more. Now I just manage my own stocks investments which gives me $50k of stocks dividends per year. My wife earns $120k pa. We share our annual expenses of $80k per year. Luckily I have no debt. I am 52 this year, I hope I won't die so soon.

My message to all: money is not everything, take care of your health, don't any how eat and drink, don't womanize.

If your health is failing, then you have to take a break to recuperate. You have to know that the world will continue with or without you working. Our ministers (2 days ago) suggested to raise the retirement age to 70! This is to address the shortage of manpower as the country's population is not growing enough.

If my spouse and I can continue to work till 70 and earn around our current pay till then, we would be able to grow our net worth by another $3.5m to $4m (or total net worth of $8m to $8.5m). It is very ironical. The later you retire, the less you need, but you ended up with more savings. For a typical couple, by the time they reached 55 or 60, all their financial commitments would have been settled, and their savings would accelerate if they continue to work. Projecting ahead, we could increase our savings rate from the current 65% to as high as 80% of our annual income.

As we are currently 50, we initially decided that our current car would be our last car. But if the retirement is raised to 70 and we are able to continue without reduction in pay, then we can still go for 2 new cars - 1 for 10 years each.

We will have to re-adjust our retirement plans also. Instead of just the occasional regional holidays, we can still shoot for longer holidays to far away places.


[QUOTE=Unregistered;47377]Hi,

Came across your post. Just wanted to share that I am retired due to poor health. After so many years of leading an unhealthy lifestyle of a high flying corporate boss, I got sick. Not able to work any more. Now I just manage my own stocks investments which gives me $50k of stocks dividends per year. My wife earns $120k pa. We share our annual expenses of $80k per year. Luckily I have no debt. I am 52 this year, I hope I won't die so soon.

My message to all: money is not everything, take care of your health, don't any how eat and drink, don't womanize.[/QUOT

Originally Posted by Unregistered

Both wife & me in mid 40s
Landed property : valued $4.2m, o/s loan $1.6m
Cash : $2.5m
Income : $300k p.a.
Valuation of interest in company : $3m

are both of you running the same company that you own?

You sound exactly like the self centred, selfish Singaporean. Even though you are now already very rich, you still insist on working and accumulating more wealth, which probably be too much anyway by the time you are 70.

With what you already have, you should just stop working and do something meaningful in your life. Have you been to a trip to Africa to feed and clothe the poor? Have you visited the slums of our neighbouring countries? Have you thought of how you can make their lives better?

Life is not all about you and your own family. Look around you. Make a difference. Dont sleep comfortably in your bed, think of the million of homeless people in the world living under bridges. THINK !!!!!



[QUOTE=Unregistered;47465]If your health is failing, then you have to take a break to recuperate. You have to know that the world will continue with or without you working. Our ministers (2 days ago) suggested to raise the retirement age to 70! This is to address the shortage of manpower as the country's population is not growing enough.

If my spouse and I can continue to work till 70 and earn around our current pay till then, we would be able to grow our net worth by another $3.5m to $4m (or total net worth of $8m to $8.5m). It is very ironical. The later you retire, the less you need, but you ended up with more savings. For a typical couple, by the time they reached 55 or 60, all their financial commitments would have been settled, and their savings would accelerate if they continue to work. Projecting ahead, we could increase our savings rate from the current 65% to as high as 80% of our annual income.

As we are currently 50, we initially decided that our current car would be our last car. But if the retirement is raised to 70 and we are able to continue without reduction in pay, then we can still go for 2 new cars - 1 for 10 years each.

We will have to re-adjust our retirement plans also. Instead of just the occasional regional holidays, we can still shoot for longer holidays to far away places.

Originally Posted by Unregistered

Hi,

Came across your post. Just wanted to share that I am retired due to poor health. After so many years of leading an unhealthy lifestyle of a high flying corporate boss, I got sick. Not able to work any more. Now I just manage my own stocks investments which gives me $50k of stocks dividends per year. My wife earns $120k pa. We share our annual expenses of $80k per year. Luckily I have no debt. I am 52 this year, I hope I won't die so soon.

My message to all: money is not everything, take care of your health, don't any how eat and drink, don't womanize.[/QUOT

what is wrong with continuing to work till old age? it keeps one's mind active and possibly helps create jobs. one also gets to pass down his accumulated knowledge to the younger generation.