Originally Posted by Unregistered (Post 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 (Post 47500)

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 !!!!!

Originally Posted by Unregistered (Post 47535)

You remind me of someone I knew, constantly criticizing how we slogged at our jobs to make money, then come to us and ask for donations to fund her trips to Africa to help the poor. If she was respectful I would gladly wrote a generous cheque, alas she walked away with nothing.

We work in a pragmatic world, everyone has a role to play. Hardworking people like that man is what aid agencies look for when they need to raise funds. A well funded aid agency has the resources to do so much more than one glamour individual.

I've seen obnoxious judgmental people at work go on such volunteer work to "show" they contribute back. These same people have no common respect for their coworkers, I will not be surprised if you're cut from the same mold.

The ones who place themselves on the moral high ground are typically the worse offenders, they are just too jaded to realize.

Scandal puts spotlight on rich Singapore churches

Originally Posted by Unregistered (Post 47557)

Many rich ppl here still working at age 50's, 60's and even 70's and said that it is because the country needs them, gohmen encourage them to work and contribute at old age... it is 90% bull sh*t.. they are just not willing to let go what they are having now, high salary, status & power in the company, women... because once they leave the organisation, they are nobody anymore... I see many MDs, high management level.. while they are in that position, business partners, subordinates all waiting to buy them expensive dinners (few k a meal), not only them, their families as well... they are so well treated like emperor, during festive seasons, they get so many hampers, gifts, cash... the moment they retired and leave, nobody seems to remember them the following year.. no more gifts, hampers, meals (not even at hawker stalls), no visitors, no calls during festive seasons except relative and friends.. they are just a normal person on street.. real big difference.. So they just continue to work very hard, in order to maintain their position and fall sick one day, then realised they have been working entire life, did not enjoy much on their hobbies, loose bonding with family... and leave all the money to their children.. and 99% causing a lot quarrel, court case...

Originally Posted by Unregistered (Post 47557)

Many rich ppl here still working at age 50's, 60's and even 70's and said that it is because the country needs them, gohmen encourage them to work and contribute at old age... it is 90% bull sh*t.. they are just not willing to let go what they are having now, high salary, status & power in the company, women... because once they leave the organisation, they are nobody anymore... I see many MDs, high management level.. while they are in that position, business partners, subordinates all waiting to buy them expensive dinners (few k a meal), not only them, their families as well... they are so well treated like emperor, during festive seasons, they get so many hampers, gifts, cash... the moment they retired and leave, nobody seems to remember them the following year.. no more gifts, hampers, meals (not even at hawker stalls), no visitors, no calls during festive seasons except relative and friends.. they are just a normal person on street.. real big difference.. So they just continue to work very hard, in order to maintain their position and fall sick one day, then realised they have been working entire life, did not enjoy much on their hobbies, loose bonding with family... and leave all the money to their children.. and 99% causing a lot quarrel, court case...

Originally Posted by Unregistered (Post 47577)

99.99% of rich and powerful people are afraid to let go. Their hardened hearts are attached to the world and desires - money, status, women, intoxicants, evil things, etc. Don't they know what is the true purpose of their lives?

The intelligent ones will seek the truth.

Originally Posted by Unregistered (Post 47433)

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.

Originally Posted by Unregistered (Post 47582)