I'm a successful executive who has decided to retire to focus on my health and family.
Net worth $2.2m. Annual passive income $53k. No car, no liabilities, no holidays. Live in a small condo with wife and two kids. Our condo is our holiday. Nice greenery, gym, swimming pool, BBQ pits and tennis courts.

Our goals
 

We are couple in mid 30s. Combined liquid assets ex property about 1.5m, property net equity value about 600k. Figure we need another 4m to retire/become financially independent, will try to save/accrue through investments this much over next 10 years. Currently make about 600k combined (will probabky increase) so this will be a bit of a stretch goal

How old are you? And how young are your children?

If your kids are working and independent of you financially, and if you are already in your 60s, I would say you deserved to enjoy the fruits of your labour. But I would not described myself as successful. Not more than the next guy.

If you are young, with children still schooling and dependent on you, and some more living in a condo, then you will be in for a rude shock retiring with just $2.2M and with just $5.3K per mth passive income. University fees are on the up & up, so are general cost of living. Set aside any funds for medical emergencies?

So which situation are you in ?

I would say 2.2m is more than enough to lead an above average life in Singapore. He did say he doesn't splurge on the unnecessary, not even overseas holidays.

If people like him are in for a "rude shock", I shudder to think what will happen to those who don't even have 100k in savings.

hi, what do you and your wife work as? i'm guessing investment bankers or top lawyers? quite rare for someone to achieve your level of income by mid-30s

It's rare but I wouldn't say extremely rare. Wife and I make 500k combined, but we readily admit we are lucky to be in our current positions. There are many jobs, not necessarily in finance or law, that pay very well. You just have to keep looking and find them!

It is therefore no surprise why property prices, especially condos, keep rising.

Buy as many as you can afford. There are many youngsters nowadays who make a lot. Buy before they buy up all.

Are you for real? Which country you writing from?

Came across this forum by chance. I found the sharings here interesting. Makes me wonder how far I am from those in this forum. I hope most people out there are not like those who shared here. In this forum, many seems to be rich, at least from my standard.

Let me share mine. My wife are I are in our mid 40s, earning a combined income of $158,000 per year. We live in a condo, owns a car and have 2 teenage children. We enjoy going to holidays to Australia, China, Thailand, Vietnam, Korea, Japan, etc.

Our net worth, both husband and wife, including our home is about $1.98 million.

Comparing to those posting in this forum, we are nothing but I think we are doing quite well if you compare with families in our age group. What do you think?

How did you manage to accumulate so much net worth given your relatively low combined income? Did you make some significant investment gains?