Reply 8

My next big project is to buy a blue water sail-boat and sail around the world eventually. It's a huge step and I am taking my time to think it through. This is still in the wishful thinking stage ..... my hunger for adventure is still strong and I think I am still healthy and fit enough to embark on it. But, it will take a lot of commitment and some risks but I think it will be so rewarding. So, still seriously thinking and evaluating this project. If it happens, it will consume my time like no other so all my finances would need to be almost on auto gear for this to happen.

Unless your work defines who you are, we mostly work to put a few meals on the table for our family. If you have that settled, plus the added push factor from work, you may want to start exploring something else.

Reply 7

I enjoy cooking. I also like to play with my knives, cutting, dicing and chopping food. So, I have steadily expanded my cooking repertoire since the last few years. Whilst I only have the weekends to pursue my cooking, I have come a long way since I first started. It's still something fun to do for me. Planning what to cook, shopping for the right ingredients, sharing notes with like minded friends and then actually preparing the food. All these takes time and effort and the result is a healthier, more satisfying and cheaper meal.

Catching up with friends. Less so for your age group since almost your entire cohort of friends will be busy with their career. My age group of friends are much more receptive to meet-ups and boys' trip overseas (though I am still trying to find the right excuses to tell my wife).

Reply 6

As for filling up your time, I find physical exercise to be a high return personal investment. You will feel good, look good (after 6 months of perseverance) and be much fitter and healthier. This routine will probably take up 2 hours of your time on a daily basis.

What else depends on you as a person and what you seek out of your life as well as your family circumstances. My son is finishing his NS and will be going overseas for medical school. So, I don't really need to set aside time for him but if you have younger kids, you may want to get more involved in their school activities by volunteering your time. So, that may also take up some hours of your time on a weekly basis.

Reply 5

If you were to do it, then you would need to find a way to fill your "work day". But, don't worry about it too much for the first few months cos' you will have a lot of thinking, planning and executing to do for the first couple of months in order to put your finances right. Without a regular pay-check, your main source of income would be from your investments. You would need to plan various scenario analysis and asset allocation in order to generate a more or less predictable level of passive income for you to work out the family's finances. Take your time with that and always put aside some emergency liquid funds whether it is to cater for unexpected exigencies or for opportunistic investments that Mr Market makes available to us during periods of price dislocation.

Reply 4

Without a regular pay-check, your main source of income would be from your investments. You would need to plan various scenario analysis and asset allocation in order to generate a more or less predictable level of passive income for you to work out the family's finances. Take your time with that and always put aside some emergency liquid funds whether it is to cater for unexpected exigencies or for opportunistic investments that Mr Market makes available to us during periods of price dislocation.

Reply 3

However, based on what you've said, it appears that you have ticked the boxes on both counts i.e. the money and the added push factor of a stressful job. If I were in your position, I would likely do it. Afterall, nothing can replace health and you don't want to lose it only to learn and realise how important being healthy is. Importantly, you don't need to tax your health and stay just for the employment income.

If you were to do it, then you would need to find a way to fill your "work day". But, don't worry about it too much for the first few months cos' you will have a lot of thinking, planning and executing to do for the first couple of months in order to put your finances right.

Reply 2

I was actually thinking of quitting but have yet to do so. I was first retrenched in late 2008 but managed to secure another job a few months later. My major hesitation to leave now is it will be almost impossible to get back in. I am not willing to voluntarily give up a regular pay-check just yet. If my job gets too stressful, then I may quit but ..... haiz, it's really quite a waste for me to throw the monthly pay-check away hence I am still working. Plus, working keeps me connected to the business world and honestly, I would be rather lost if I am totally disconnected. As you've mentioned, it also imposes some discipline on me.

Reply 1

Well, if the job is taxing on your health, then it's as good a reason as any to let it go. After all, health is priceless and we do pay exorbitant amounts to restore our health (I know cos' I spent a fortune for my mother's open heart coronary bypass along with some complications recently).

From what you have mentioned, it appears that you are also financially set to retire since you would be receiving a lump sum that is equivalent to your next 2 decades of employment income.

2nd post (previous one was too long)

That said I was redundant for awhile though and I'm aware given too much time it can be very detrimental, passive investment can only require so much time and lack of daily interaction with colleagues/others will lead to massive boredom (and potentially rash decisions). Not sure if I have the discipline as well to work out regular routines which some can.

I saw your post and I felt you might have been in similiar predicament, I didn't go thru the entire thread but can I ask what did you encounter when you stopped working how did you occupy your time?

Thanks, one reason would be the job. Current job is very taxing, been here almost a year and my health has taken a hit and travels to many third world countries (Africa etc), I am aware of the market and unfortunately my exposure makes it hard to find another role, another reason more importantly is I will be looking to receive a lump sum of cash which exceeds what I can earn had I worked in the same company for the next 50+ years (currently I have a similiar amount in properties). With this lump sum it makes me heavily ponder if I should focus my efforts to invest and return the income especially given my current job.