Whats your net worth

Originally Posted by Unregistered

Your combined net worth is higher than mine when I retired at 44. Just for info, most of my friends plan to retire between 55 to 65.

Wow. How do you finance your retirement? How much do you spend annually? Where are you staying now? Condo or HDB? What do you do during your retirement? Is your wife working or is she also retired?

How to retire young

1. Downgrade from your $5m bungalow to a $500k HDB flat.
2. Sell your HDB flat and retire in Thailand.
3. Sell your car, stop having a maid, stop holidays to Europe, US, eating out.
4. Rent out your hdb rooms and live on $2000 pm. If the poor can do it, so can you.
5. Rent out your HDB flat and live in JB.
6. Stop your bad habits - drinking, smoking, womanising, gambling, and eat simply.
7. Downgrade from $2m condo, buy a $300k 3 room HDB flat and invest $1.7m, earning a passive income of $75k pa (assuming 5% returns).

Many of these adjustments means you will lose face BIG TIME. Are you willing to do it?

Do you have any more ideas to add?

How to retire young?

Originally Posted by Unregistered

Wow. How do you finance your retirement? How much do you spend annually? Where are you staying now? Condo or HDB? What do you do during your retirement? Is your wife working or is she also retired?

Clever questions.

Including primary residence, have two landed and two condos. Staying in a landed property, the other threes are rented. Spent my time blogging/surfing, playing video games, doing household chores and helping my children in homework. My wife is working. Annual expenditure over $200k.

Originally Posted by Unregistered

Sorry, I don't quite understand you. Are you saying I should retire earlier than 72? How early? Or I should retire later? What age? 85? I don't think I will live till 100. I expect to live until 85. Nowadays, not many people live till 85. Many die in their 70s or even 60s actually.

To me, ideal retiring age is 55 if you have kids as you need to pay for their education, if not, 48 will be good.. dont worry too much about money and sittign at home.. you can be a full time investor, going around to see properties and study shares at home.. sure you can support yuor usual life with your yield. At 50, you should have enough experience and forsight. and most importantly, do what you want or been dreaming of doing since young..

Originally Posted by Unregistered

Clever questions.

Including primary residence, have two landed and two condos. Staying in a landed property, the other threes are rented. Spent my time blogging/surfing, playing video games, doing household chores and helping my children in homework. My wife is working. Annual expenditure over $200k.

So lucky. Does your wife mind that she is working hard and you relaxing at home? If she doesn't mind, you are really one lucky guy! Btw, why she did not mind?

The 21 Rules of the Rich (and how you can emulate them)

21 Rules of the Rich and how to differentiate between the mentally/physically poor and the really rich.

Why the poor wants to emulate the rich but will never attain true riches.

The main difference is that rich people (either from hard work, inheritance, luck) has an action mentality as opposed to poor people who sit all day round and complain

Only poor people with an action mentality get out of being poor while the rest of the poor people complain for the rest of their life that their family, their friends, their government and basically the whole world owes them a living.

Originally Posted by Unregistered

The 21 Rules of the Rich (and how you can emulate them)

21 Rules of the Rich and how to differentiate between the mentally/physically poor and the really rich.

Why the poor wants to emulate the rich but will never attain true riches.

The main difference is that rich people (either from hard work, inheritance, luck) has an action mentality as opposed to poor people who sit all day round and complain

Only poor people with an action mentality get out of being poor while the rest of the poor people complain for the rest of their life that their family, their friends, their government and basically the whole world owes them a living.

Very true, so call KPKB sitting down at coffee shop.. complain from 10cents increased in coffee till COE (although not owning a car) till house... but not realising the number of millionaires in this country is growing fast..

The way to retire rich is simple.
First buy cheap BTO and after 20 years you can pay off the loan.
Then you can rent out your whole unit to FTs.
But for this to work, we must support the 6.9m population or even more, but must ban PRs from buying our resale HDB flat, so that they cannot buy but must rent from you.
Then you retire in 3rd world cities, such as KL, Bangkok, Chiang Mai, etc. Your flat can easily rent out at $3.5k a month. This translates to RM9k plus in Msia. If in Thailand, even more cheaper. Retire like a king in 3rd world cities KL, Bangkok, Penang or Chiang Mai. But you must take care of your safety, don't take for granted.

Originally Posted by Unregistered

The way to retire rich is simple.
First buy cheap BTO and after 20 years you can pay off the loan.
Then you can rent out your whole unit to FTs.
But for this to work, we must support the 6.9m population or even more, but must ban PRs from buying our resale HDB flat, so that they cannot buy but must rent from you.
Then you retire in 3rd world cities, such as KL, Bangkok, Chiang Mai, etc. Your flat can easily rent out at $3.5k a month. This translates to RM9k plus in Msia. If in Thailand, even more cheaper. Retire like a king in 3rd world cities KL, Bangkok, Penang or Chiang Mai. But you must take care of your safety, don't take for granted.

You definitely cant live like a king with RM9k in KL or Penang. Assuming you and your spouse, put aside your kids. Living in a RM1mil teres (market price), RM250 C Class Benz, Each month you have to pay RM4.5k for housing loan (30 years loan) and RM3k for car (9 years loan). And remaining for road side hawker food, RM5.5 for a bowl of noodle and RM1.8 for kopi. Ppl always think that living in Malaysia is cheap.. and not even king, just average living lifestyle..